Daily capital journal. (Salem, Or.) 1896-1899, 1896-08-14


appeal to them to consider the inter-
ests Of posterlty. We do not live for
ourselves alone. Our labor, our SELF
denial and our anxious care, all these
are for those who are To come after us,
as much as for ourselves, but we can
not protect our children beyond the
period OF our lives. Let those who
are now reaping the advantage from
the various financial system remem-
Der that in years TO come their child
rem and their childen's children may,
through the operations of this same
system, be made TO pay tribute to the
descendants OF those who are wronged
today.
FREE COINAGE
"As against the maintenance or the
gold standard either permanently or
until other nations, can be united for
It's overthrow, the Chicago platform
presents clear and emphatic demand
for the immediate restoDtion OF the
free and unlimited coinage OF silver
and gold at the present legal ratio OF
10 TO without waiting for the aid or
consent OF any other nation. We are
not asking that new experiment be
trled we are insisting upon Il return
70 the financial policy approved by the
experience of history and supported by
all the prominent statesman or our
nation from the days Of the first pre-
sident down to 1873. When we ask
that our mints be opened to the free
and unlimited coinage Of silver into a
full legal-tender money we are simply
asking that the same mint privileges
be accorded TO silver that are now ac-
corded TO gold. When we ask that this
coinage be at the ratio OF 10 to we
simply ask that our gold coins and
standard silver dollars which, be IL re-
memoered, contain the same amount
of pure silver as the first ones coined
at our mints, retain their present
weights and fineness. The theoretical
advantage OF the metallic system ID
best stated by writer on political
economy, who suggests the following
? illustrations:
"a river fed from two sources II
/ more uniform In volume than riyel
, fed from only one source-the reason
being that when one OF the feeders 4
swollen the other may be low;whereas
, a river which has but one feeder mus
, rise or fall with the other. So, in thu
= case Of blmetallism, the metalll
money receives contributions from tn
gold mines and silver mines, and, rest
7 ing upon the two metals, is less change
, able In its purchasing power than tn
, dollar which rests on one metal only
. IL there are two klndsof money, tn
/ option must rest either with the debto
or creditor. Assuming that thel
\ rights are equal, we must look at th
' Interests OF society In general in orde
TO determine 10 which side the optic
/. should be given. Under this metalli
\ system gold and silver are linke
/ together by law at fixed ratio, an
| any person owning any quantity O
: either metal can have the same cor
Z verCed into full legal.tender money.
'If the creditor has the right I
b. choose the metal In which paymen
a shall be made, 10 Is reasonable to SUI
Z pose that he will require the debtor b
n pay In the better money II there isan
perceptible difference between the bu
A lion values OF the metals. This ne
|. demand created for the better meta
g will make that metal dearer still
q while the decreased demand for Oh
: cheaper metal cheaper still. On III
: other hand, II the debtor exercises III
a option, IL is reasonable TO suppose ths
; he will pay In the cheaper metal, III on
5 metal is perceptioly cheaper than II
: the other;but the demand thus create
for the cheaper metal will raise 4
price, while the lessened demand I,