The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-08-07


obligations are collectable in, this coun-
try and payable in coin as declared by |
congress. The contract on the bond so
reads, and if the requirements of the
contract are fulfilled who can claim an
injustice has been done? Our domestic
obligations are also payable in Ameri-
can dollars, the same kind as those that
we're borrowed, no larger, no smaller,
and no creditor can claim himself de-
frauded who is paid his debt in a dollar
congress has declared such and will re-
ceive for 100 cents in payment Of public
credits. In buying of US foreign coun-
tries always have been and always will
be compelled to use our money. In
buying of them we always have been
and always will be compelled to use
their money. If free coinage law will
make orr money easy to secure, as the
goIdite champions assert, then for
eign countries will increase their pur-
chases of American products, thereby
working decided benefit to the Ameri-
can producer. If free coinage law will
make European money difficult to Sc
cure, as the gold heretics also claim.
then the American buyer will of neces-
sity buy his supplies at home, and the
American producer is again benefited.
Out of their own arguments the goldites
prophesy double benefit accruing to
the American producer through the
operation of a free coinage Of silver
law. The United States is the greatest
silver producing nation of the world.
Should it re-establish the bimetallic
standard and open its minis to silver
as we'll as gold, it would create an un-
limited demand for the white metal and
by such legislation fix the price of sill
yer the world over at S1.29 cents per
ounce, less the cost of transportation.
Senator Cockerell in the United States
senate on the 18th day of last March,
challenged the opposition in open de-
bate to locate over S2O,OO1,OOO of silver,
outside of the United States, that could
be brought to our minis and coined in
to American dollars except at a loss to
the importer. No reply to that chal-
lenge has ever been made, and until
there is the flood the country with for
eign silver" sophism is unworthy Of
notice. England produces no silver,
but buys more than the rest of the
world combined, and fixes the price at
the lowest possible mark. England
/ produces 40 wheat, but buys more than
any other country and it is to her in.
terest to get her bread stuff as cheaply
as possible. How is it accomplished?
By pitting American silver against
American wheat. Nearly all wheat ex-
porting countries, excepting the United
States, are on a silver basis and an
ounce of silver is as valuable to them
as ever, and it will exchange for a
bushel Of wheat, the price Of which is
in those countries equal to the coinage
value of the silver, or S1.29 cents per
bushel. American wheat, reaching Liv-
erpool, is exchanged for the equivalent
of the ounce of silver in American
money, or 60 cents. Under a free coin
age the conditions would remain the
same only that the American wheat
growers ounce of silver would equal
its coinage value, as now does that ex-
changed for the wheat of our competi-
tors in the silver standard countries.
1t is claimed that a free coinage law
would drive gold from circulation, but
such a statement is the exact reverse
OF the truth. It would drive gold into
circulation, and in a hurry, too. Gold
is boarded because it is constantly ap-
preciating and brings a richer return
| boarded than invested. The demand
for gold is greater than the supply,
hence its appreciation and its avail
ability for boarding purposes, thereby
removing it from circulation. Under
a bimetallic standard change would
rapidly ensue. The appreciation Of gold
would instantly cease, and its purohas-
ing power gradually diminish until its
normal condition was reached. Hoard
ed gold, to reap the benefit Of its appre-
citation must be invested before this
normal point was reached, OF the object
of its being boarded would not only be
defeated, but a loss suffered as well
throug it depreciation. Silver coin,
being then a primary money also, would
take the unnatural strain off from gold
and provide against a scarcity of re-
demption money, inasmuoh that should
there be a scarcity Of one metal there
must necessarily be an abundance of
the other to I'LL the deficiency. It this
way the two metals would become
allies, not enemies. The currency is
! sue at stake in this campaign has evolv-
ed in q struggle many different eie-
ments. It is Europe against America,
money against muscle, monopoly
against the people, oppression against