Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1896-07-30
ITS OBJECT.
Francis G. NeWland's Expla-
nation of the Aim of
BimetalIism.
interests of Greatest Debtor
Nation Of the World
at Stake.

NallOn u Cno "OEIO
at Stake.
The temporary chairman Of the ma.
tional silver convention, Francis q. New
lands of Nevada, at the opening OF the
sessions at st. Louis said in part:
"The national silver party meets to-
day to determine what course will best
advance the cause which We have at
heart. The republican party has de-
clared tor the gold standard save so far
as Its disastrous consequences may be
averted by international adjustment
with the leading commercial nations Of
the world. Practically this means gold
recommendation, for under the system
of finance inaugurated by Harrison and
continued by Cleveland silver is denied
Its tlme.hOnOred use rs redemption
money, and has become simply the ma
Jerial upon which is stamped gold
promise. And so our greenbaoks, our
treasury notes and silver certificates in
stead OF being money have been turned
into gold debt, and the primary money
of the country is confined to the limited
amount Of gold, approximating OO,OOO,-
GOO, which an adverse balance Of trade is
constantly depicting with all attendant
evils of continuing bond issues.
1.-The democratic party has declared
for the free and unlimited coinage OF
silver at ratio OF 16 to l without wait
ing for international action. While it
has made other declarations in it's plat
form it has announced that the silver
question is the paramount issue OF the
day, and that to it all other questions
are to be subordinated. 1t has nominal
ed a candidate of unlmpeachsble charac-
ter, Of exalted ability, of inflexible in
tegrity, of high purpose, who has never
faltered for moment in his devotion to
the cause Of bimetallism. Firm, but not
headstrong, confident, but not self-suf-
ficient, near TO the people but not dem
agogic, determined for reform. yet
without single incendiary speech or
passionate utterance to mar his record,
possessing happy combination OF the
oratorical and logical qualities; young,
courageous and enthusiastic, yet delib.
crate and wise, he stands as the ideal
candidate Of movement which, though
termed movement for reform, really
means return to the wise conservatism
Of our fathers.
THE OBJECT OF THE PARTY.
1T is not intended to pay debts with
5O.cent dollars or to drive away gold, or
to debase our currency. Our purpose
simply is by increasing the coinage and
use Of silver and by giving it equal
privileges with gold to raise lts value
and by diminishing the strain on gold
which gold monometalllsm has caused,
to take away its unjust appreciation and
thus, by pulling up the value OF silver
and pulling down the value of gold, to
restore the old ratio 80 that sixteen
ounces OF silver will be worth in bullion
as we'll ss IN coin one ounce OF gold.
Thus the old unit of value-the dollar
based on both metals instead of one, will
be restored, and We shall have gold
dollar worth 100 cents in silver and
silver dollar worth 100 cents in gold.
If We are asked why this ratio Is de-
termined upon, your answer is not only
that that has been the customary ratio
for years, but also that the total stock
Of silver coin in the world is q, 4,0OO, ,OOO,-
OCo; that the total stock of gold coin is
approximately the same, and that il the
total stocks OF SILVER and gold were each
would he about sixteen times as great in
weight as the gold mass. We also
answer that today the relative produc.
ton of the two metals ls in approxim-
ately the same proportion. We must es-
tsbllsh by law some relation OF value
between the two metals. And we pro-
pose to value silver as it will stand after
restoration to equality Of privilege with
gold and not while it ls dlscredlted by
unequal laws.
"The advantages of the restoration Of
bimetallism ls apparent. 1t will not
only give the world an increasing vol
ume OF currency proportioned to the
increase Of population and to the extern
sion of business, commerce anC enter
prise, but 1t will do away with the dis
location Of the exchanges that have ex-
listed between gold standard and silver
standard countries-s dislocation which
has immensely stimulated the produc-
ton of silver.
WHAT ENGLAND WANTS.
"England's wealth consists IN gold.
Our wealth consists in property and
products. England is creditor nation
the United States is debtor nation,
England is interested in having money
dearer and products cheaper. We rely
upon good prices for our products in
order to pay cur foreign debts. Eng
land proposes to pursue policy which
will increase the value of the property
that we own and Of the products that we
export? What should be our policy?
Why, to increase the use of silver and in
that way increase its value, so as to re-.
store its old parity with gold We find
that the dislocatlon beteen gold anG sill
YER has given the advantage in produc.
tion to countries that are not on gold
basis; that their foreign products. whose
prices are stable in silver although re-
duced in gold, are competing with ours
in foreign markets to our disadvantage.
I'VE have at stake the interests OF the
greatest debtor nation OF the world; of
the greatest ilver-producing nation of
the world; Of a nation yielding the great