The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-15

stop the flow of all silver to the United
States for mintage would be the re.
uucti0n Of our currency to silver
basis. In fact free coinage and a
SILVER basis would come Simultaneous
iy unless free coinage of silver by the
United States would raise the ner-
camille value of silver In foreign mar
kets TO the value OF gold at the ratio
OF 10 to l. The original normal condi-
tlon OF gold and silver was a ratio of
10 to L. That condition has been
changed and the two metals have
drawn wide apart. Whether silver has
remained stationary and gold gone up
or whether gold has remained station
airy and silver gone down. or vet
whether silver has fallen to a certain
! extent and gold appreciated ito a GER
4 tam extent. both metals thus departing
from the old normal condition, are ques-
! llons or no great concern under pres
ent conditions. They have separated
ana must be dealt with, with that fact
as an existing factor, whether the
cause OF their separation was natural
or artificial, the result of vicious legls-
Iatlon or want of legislation are ques-
tions for the historian to deal with.
Inc man who ignores the principles of
redemption and devctes his whole time
TO the consideration of the cause of
original sin will make but little pro-
gress. Free coinage of silver by the
United States would produce one of
three results: Silver would appreciate to
the value Of gold or gold would de
preciate to the value of silver, or our
currency would settle 20 a silver basis.
Where is the argument that will con-
vince that the free coinage of silver at
the ratio of 16 to 1 by the United States
would raise the price of an ounce of
silver from $685. to 1.29 measured by the
world standard? Today silver bull
hon is commodity, to increase its
price by free coinage there must be
law compelling the people of the United
states to accept a silver dollar for an
obligation of a dollar irrespective of
gold. What would be the result of
such legislation? AS to us gold would
at once become a commodity, our
currency, our dealings would be on a
silver basis that would be con-
stantly varying. It could have
no stability a corner in sill
YER would send the value of a
silver dollar up, dissolution
of the corner would send it down.
Money would have no fixed value.
Property other than money would be
measured by an ever varying standard
of measurement. Conservative business
would become thing of the past, and
feverish speculation would take it's
place. Under such conditions what
would be the fate of the common peo-
pie? They would be like a novice in
the whirlpoolsof the Chicago wheat pit.
A perfect money medium is one that
neither contracts or expands. We
measure all business transactions by
the dollar, as we measure cloth by the
yard stick A yard stick that would
be SO inches on Friday, IS on Saturday
and 36 on Monday would upset all cal
culation and reduce business in that
line to specializing venture. An every
varying dollar would reduce all bust
ness to that condition. We measure
all heights from the level of the ocean.
We should have a stable dollar from
which level all transactions should be
measured. There is no business safety
for the common people in any other
system. The United States is not a
Spanish speaking nation addicted to
revolution as a pastime. nor an ORR
entail nation seeking Russia as
guardian, nor a nation newly awaken
ed from barbaric slumber crazed with
a little military success. To such ma
lions any kind of a money medium is a
boon. We claim to be one of the first
nations, if not the first. Our people are
a conservative business people and
when left alone move forward with
grandeur that has never been equalled;
the best Of everything has been our
motto. Paternalism We have spurned
then why cry for a governmental pa
ternal baby act dollar? No; rather let
US demand a dollar that is a dollar
wherever commerce has found IT'S way.
This fall our Republican friends will
demand such dollar, and a protective
tariff law that will enable the people
Of the United States 20 capture them
selves. Let Democrats demand such
dollar and free laws of commerce that
will enable the United States to capture
the worlds trade. Today there is no
lack of money commodities or bust
ness opportunities; but there is a lack
of confidence that causes money to
shrink with timidity from investment.
What is the cause of this timidfty?
There is not a bank in Utah that will /
loan dollar without atking note
payable in Omitted States gold
COIN" They are afraid of free
coinage of silver and a silver basis
to our currency. Utah affords a field
for investment equal to that of any
state in the Union, but will money
come TO US measured out by gold
standard with a prospect of having It
measured back by silver standard? |
Our home capitalists sing the song of |
bimetallism, free coinage, etc, but |
practice the gold code. What can we
expect Of eastern capital? We need
not expect it at all until this free
coinage agitation ceases except on an
international basis. There may have
been time when there was prospect |
of bringing silver and gold together |
at ratio of 16 to l. but that time is
with the dead past. The Republican
party of Utah will send delegation to |
st. Louis demanding that the platform |
be for free coinage of silver. They will |
not gst it, but they will come home |
and carry the state for a gold stand |
ard and protection. The Democratic |
party of Utah will send a delegation to
Chicago demanding free coinage of sill |
yer or a bolt. They will get the bolt {
and that is all they ever will get, and |
if that is their policy it is all they
ought to get. When every principle of
Democracy is to be subordinated to
the cry for doubtful dollar. 1t is time
the party was cbastened or like horse
that has lost the Derby-tUrned out to
grass. l.. r. RHODES.
Ephraim, Utah.
Yesterday the chaplain of the United
70,