Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1896-08-20
ABILENE WEEKLY REFLECTOR ABILENE KANSAS AUGUST TO- 8s6wEL PAGES

y without waiting for the aid or consent Of any
I, other nation. We are not asSIng that a new
. experiment be tried; we pre insisting up
on q return to financial policy APP
p; proved by the experience Of history
I and supported BY oil the prom nent
t statesmen OF our nation from the days Of
I the first president down to 1874 Whom we ask
that our minis be opened to the fires and un-
limited coinage Of silver int lull legal tender
money we are simply asking that the same
mint privileges be accorded to siver that are
: now accorded TO gold When We ask that this
coinage be ut the ratio OF sixteen to one. We
simply ask that our gold coins and the stand
! ard silver dollar which. be- II emembered. con-
/ tains the same amount Of pure silver AS the
first silver dollar coined at our minis, retain
their present weight and flneness.
The Necessity for BimetaIlism.
There Is an actual necessity for blmctallisln,
as well as theoretical defense Of 1t During
the last % years legislation has been creating
an additional demand for gold, and this law
created demand has resulted ia increasing the
purchasing power OF each ounce OF gold The
restoration Of bimetalism In the United
States will take away from gold so
much Of It's purchasing power as was
added to 1t by the decentralization Of silver by
the United States The silver dollar Is now
held up to the gold dollar by legal telder laws.
and not by redemption In gold because the
standard silver dollars are not now redeem
able In gold, either by law or administrative
power.
We contend that free and uni mlted coinage |
by the United States alone will raise the bull |
lion value Of silver to It's coinage value and |
thus make silver bullion worth g. 20 per ounce
In gold throughout the world. This PROPOSE
tion is In keeping with natural laws, not in de-
fance Of them. The best known law Of COM
merce Is the law Of supply and demand We
recognize this law and build our argument
upon it We apply this law to money when we
say reduction In the volume Of money will
raise the purchasing power Of the dollar We
also apply the law OF supply and demand to
silver when we say that new demand for sill.
yer created by law will raise the price Of silver
bullion.
The question upon which international BIZ
metalllsts and independent bimetallists differ
is: Can the United States, by the free and
unlimited coinage Of silver at the present legal
ratio create demand for silver which, taken
In connection with the demand already In ex-
istence will be sufficient to utilize all the sill
yer that will be presented at the mintsY They
agree In their defense Of the bimetallic prlnci-
pies and they agree In unalterable opposition
to the gold standard.
International bimetallists cannot complain
that free coinage gives benefit to the mine
owner because international bmetalism
gives to the owner OF silver all the advantages
offered by independent bimetallism ut the
ratio. International bimetallists cannot accuse
the advocates Of free silver OF being bullion
owners who de ,lrs to raise the value Of their
bullion" or debtors who desire to pay their
debts In cheap dollars" or "demagogues who
desire 10 curry favors with the people" They
must rest their opposition upon one ground
only, namely, that the supply Of silver availa-
bic for coinage Is too large to be utilized by
tnv Uniteu otates
The Silver Supply.
In discussing this question. we must c0nsid-
or the capacity Of our people to use silver and
the quantity Of silver which can come to our
mints. 1t must be remembered that we live In
o country only partially developed, and that =
our people for surpass any equal number Of
people In the world In their power TO consume d
and produce. Our extensive railroad develop Q
ment and enormous internal commerce must p
also DO taken into consideration Now, how
much silver can come herey Not the coined q
silver Of the world, because almost oil Of II c
Is more valuable at this time In other lands z
than 1t would be OF our mines under b
free coinage. II our mints are opened to free z
ind unlimited coinage u the present ratio, o
silver cannot come here because
the labor applied to 1t has made 1t worth more D
In the form Of merchandise than 1t will be n
worth vt our mints We cannot even expect b
MI Of the annual product Of silver, because In CT
iia, China, Japan and Mexico and all the other "
,ilver-usIng countries must satisfy their IN 1t
nual needs from the annual products; the arts Q,
will require o large amount, and the gold Il
standard countries will need q considerable
quantity for subsidiary coinage. We will be
'eQulred to coin only that which is not needed Fl
,lsewhere but II we stand ready to take and b,
Utilize all Of 1t, other nations will be compelled b'
10 buy at the price which we fix. m
Many fear that the opening Of our mlnts will ia
70 followed by an enormous increase in the an tn
lual production Of silver. This Is conjecture. VI
Silver has been used as money for thousands Of nj
ears, and during oil Of that time the world bi
las never suffered from an over production. II,
or any reason the supply OF gold or silver in pt
he future ever exceeds the requirements OF Ia
he arts and the needs OF commerce, we con- II
Identity hope that the Intelligence OF the peo- ~
lie will be sufficient to devise and enact any III
egislation necessary for the protection OF the tn
'ubic' 1t Is folly to refuse to the people the ca
money which they now need for fear they may m
hereafter have more than they need
am firmly convinced that by opening our
hints to free and unlimited coinage at the TO
resent ratio We can create demand for silver In
ghich will keep the price OF silver bullion Of no
LIE per ounce measured by gold cr
The Fall of Silver, pr
Soma n, our on,onents attr,hutod tho ,ou IN no
ho value NJ s,,ysr wban moasurod hg so,d 70 fol
bs faet that Iurin,, ,hs last ovortar ~ con. mt
,r, ,ho ,yor,d,s s,nn,r n, s,,rar hoo incroasad
,oro ra,,,a,r ,har ,ha ,yor,d,s s,nnu ~, ,oId fa'
Wis arg,ment 10 antlralv answersd nv rho to
a., ,hat anrina ~, last ers vars ,ha animal of
.odua,,o, -, ,'a has nn.a,sod ora raniS, col
.an mo onn,,a, nroIn,tion n, silver p' tn,
Sinsa ,h, ,,Sla rrica ~ s,Ivor has ,a,,or oro Nc
,',inr ,ho a., sna voaro ,hnn !, anas ,o fix
40 ~ - .,. by