The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-13

Perhaps the most persistent misrep-
resentation that we have to meet Is
the charge that We are advocating the
payment of debts in fifty-cent dollars.
At the present time and under present
laws Il silver dollar. when melted. loses
nearly half its value, but that Will not
be true when we again establish a mint
price for silver and leave no surplus
| silver upon the market to drag down the
price of bullion. Under bimetall-
ism silver bullion will be worth as
much as silver coin. just as gold bullion
Is now worth as much as gold coin. and
we believe that a silver dollar will be
worth as much as a gold dollar.
The charge of Reputation comes with
poor grace from those who are seeking
to add to the weight of existing debts
| by legislation which makes money
| dearer. and who conceal their designs
| against he general welfare under the
euphonious Dretense that they are up
holding public credit and national
honor.
| In answer to the charge that gold
Will 60 abroad. 1t must be remembered
that no gold can leave this country un-
til the owner of the gold receives some
thing In return for II which he would
| rather have. In other words when gold
| leaves the country those who formerly
owned it will be bentitted. There is
no process by which we can be COM
PEELED to part with our gold against our
| VIII. nor Is there any process by which
silver can be forced unon us without
| our consent. Exchanges are matters of
agreement. and If silver comes to this
country under free coinage, ii Will be at
the invitation of some one in this conn-
try who will give something in en-
change for it.
THE CASE OF MEXICO.
| Those who deny the ability of the
United States to maintain the parity
between gold and silver at the present
LEGAL ratio without foreign aid point
to Mexico and assert that the opening
of our mints will reduce us to a silver
basis and raise gold to premium. 1t
is no reflection upon our sister republic
to remind our people that the United
States is much greater than Mexico
In area, I'm population, and in CONNER
| cial strength. 1t is absurd to assert
that the United States Is not able to do
| anything which Mexico has failed to
accomplish. The one thing necessary
in order to maintain the parity is to
furnish demand great enough to
utilize all the silver which will come to
the niints. That Mexico has failed to
do this Is not proof that the United
States would also fail
/ 1t Is also argued that. since a num-
her of the nations have demonetized
| silver, nothing can be done until all of
those nations restore bimetallism. This
is also illogical. 1t is immaterlal how
many or how few nations have open
nints, provided there are sufficient
open m.nts to furnish monetary de-
mand for all the gold and silver avail
able for coinage.
V,, ra,,lx t. ho hpt t,,,
proved machinery has lessened the
cost of producing silver, 1t is sufficient
to say that the same is true Of the pro-
duction of gold. yet. Notwithstanding
that. gold has risen in value.
If, as is asserted by our opponents,
the free coinage of silver is intended
only for the benefit of the mine owner.
1t must be remembered that free con-
age cannot restore to the mine-Owners
any more than demonetiZation took
away, and II must also be remembered
that the loss which the demonetization
OF silver has brought to the mine
owners is insignificant compared to the
loss which this policy has brought to
the rest of the people The restoration
of silver will bring to the people gem
orally many times as much advantage
as the mine-owners can obtain from It..
There are some, who. while admitting
the benefits of bimetallism. object to
coinage at the present ratio. If any
are deceived by this objection, they
ought to remember that there are no
bimetalists who are earnestly endeav-
oring to secure 1t In any other ratio
than 16 to l.
, THE QUESTION OF RATIO.
We are opposed to any change in the
ratio for two reasons: First, because
. change would produce great injustice
and, second. because change In the
, ratio is not necessary. A change would
!, produce injustice because. If effected
/. in the manner usually suggested, 1t
: would result in an enormous cOntrac-
, tion in the volume of standard money.
The people of the United States would
be injured by change In the ratio not
, because they produce silver. but be-
cause they own property and owe debts
and they cannot afford to thus decrease
l the value of their property, or increase
the burden of their debts.
! We are told that the restoration of
, bimetallism would be hardship upon
those who have entered into contracts
, payable in gold coin but this is a mis-
' take. II will be easier to obtain the
, gold with which to meet gold con-
2 tract, when most of the people can
use silver. than ii is now when every
one Is trying to secure gold The Chi
CagO platform expressly declares In
favor Of such legislation as may be
necessary to prevent. for the future
the demonetiZation of any kind of legal
tender money by private contract.
] There Is another argument to which
. l ask your attention. Some Of the more
Jealous opponents of free coinage point
t to the fact that thirteen months must
t elapse between the election and the
. first regular session of congress, and
a assert that during that time, i'm case
a people declare themselves i'm favor OF
e Tree coinage, all the loans will be with
: drawn and all mortgages foreclosed
, If these are merely prophecies indulged
T. IN by those who have forgotten the pro
r visions of the constitution. 1t will be
e sufficient to remind them that tbs
president Is empowered to convene
n congress in extraordinary session
: whenever the public good requires sucl
= action. IT, in November. the people by
i their ballots declare themselves in ia.
n vor of the immediate restoration Of hi.
= metalliSm, the system can be inaugu.
. rated within few months.
- If. however. the assertion that loans
p will be withdrawn and mortgages fore
5 closed is made to prevent such politi
= cal action as the people may believe tc
e be necessary for the preservation o
Il their rights, then new and vital is
r sue Is raised. Whenever 1t is necessary
=. for the peODe as a whole to obtair
: consent from the owners of money ant
d the changers of money before they
4 can legislate upon financial questions
= we shall have passed from a democracS
O to a plutocracy. But that time has no
Y yet approved. Threats and intimidation
g will be of no avail. The people who. il
o 1176. rejected the doctrine that king!
4 rule by right divine. will not. i'm thi.
y generation subscribe to a doctrine tha
q money is Omniopotent
CONCLUSION.
Mr. Bryan then spoke at some lengtl
u on bimet a lliSm and in Innll,dipp ca IA