Daily Kennebec journal., 1896-08-28

bring us into the present condition o,
distrust and dismay which now pre-.
walls. But ! did not intend to follow
that question further | am quite as
much opposed to cheapening the
American workingman and working
women as am to cheapening our dol
lars. / am quite as strongly in favor
Of keeping days works at home as
am gold dollars.
In connection with this financial matter
do we all realize how important the
choice OF Il President Is? DO YOU know IN lt
as the law IS now without the passage OF
any free coinage Of silver at all. it is in
States to bring the business of this coun-
try to a silver basis? All he has to do Il r.
let the gold reserve go. to pay out silver
when ask for gold, and we arc there al
ready.
1t is only because each of the Presidents (
OF the United States that we have had
ana tne one we have now-has regarded
II under the law as his public duty Ia
maintain the gold basis. maintaining that
parity between our silver and bold coins
which the law declares Is the policy Of the
government, and because he has had me
him BY the resumption act TO carry out
that declaration Of public law
! undertake. therefore. to say that If Mr..
Bfyan. or a man holding his views were
IN the Presidential chair. without any
legislation by Congress- we should be on
SILVER basis in a weeks time tApplause).
Inc silver question-what is II? DO we
want SILVER because we want more money.
a larger circulating medium? | have not
heard anybody say 50. Mr. BRYAN is not
urgin i upon that basis. If anybody
were to seek to give that as reason for
wanting free silver he would be very soon
COMPOUNDED by the statement that free
silver would put more gold out Of circu-
lation than the mints Of the United states
hrtnfF "a a
ana thdt instead of having more money
we would have less applause With otir
Ho ana odd millions of gold driven out of
circulation. we Will reduce the per cauita
money Of this country betweet 81 and 81
So 1t is not for more money. We have an
abundant supply of circulating medium
What Is II then that creates this demand
for silver. II Is openly avowed. 1t is not
more dollars. but cheaper dollars that are
wanted. II Is a lover standard Of value
that they are demanding. They say gold
proper STANDARD Of value and they want
silver But how do they want it. now my
friends there Is a great deal OF talk by
ijmefa llism and the double standard and
q great deal Of confusion IN the use Of
those terms. Bi-metaliiEm Is the use OF
the metals as money We're they are both
slider. by a double standard. they mean
that We sinai have gold dollar and
silver dollar which shall be units of value
by which all property and all wages and
everything Is to be measured.
y
used these two metals in coinage they
must determine the intrinsic relative falue
Of the two 50 that q comparison of the
world couia show just what relation one
ounce OF silver bore to one ounce of gold.
how many ounces Of silver It took to be
equal n one ounce Of gold in the markets
OF The world where gold and silver were
used and they carefully went about as
csrtaining that Thomas jefferson and
Alexander Hamilton gave their great
powers 70 the determination of that quest.
iiOn and they collected the market reports
and they studied with al their power hat
question and when they had found what
app AIRED TO he the general ana average
relative value of these two metals. they
fixed Upon ratio between them.
Now. what Was the object of an that?
because they fully understood that unless
these dollars were Of the same inherent
intrinsic value. both OF thc,n could not b
standards Of value. and both could not
circulated ADiauset What Is the law
that governs here? 1t IS lust this simple
law OF humanitys solfishucsS and self
protection. that il you have two things.
either one ut which will pay q debt ard
one Is not as valuable as the OTHER. you
are sure TO give the least valuable one
daughter. it is just upon the principle
that man who can pay debt with one
dollar won't give two precisely that. So !
that unless these Two things maintain APP |
proxmately the relative value. so that |
l6 ounces Of silver is worth one ounce Of |
gold you cannot make such dollars cir !
culatc together.