Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1896-07-02

metals In the pendulum OF q clock or IN the
handspring of a watch. No people ever did
business under the imaginary double standard,
and every attempt to enforce it has resulted in
alternating from one standard to the other.
England tried 1t for s0 years, and it was an
utter failure, France changed her ratio ls
times in IL years trying TO walk the double
standard tight rope. We tried 1t aud went first
TO a silver basis, then to "a gold basis. then 70
"A paper basis and then back DO a gold basis.
The phrase "double standard" Is a contradic-
tion OF terms. Standard means correct meas
ure, and there cannot be two different correct
measures of value any more than there can be
two different correct weights to sell by, two
different correct compasses To sail by or two
different correct thermometers 90 measure
temperature by. II one measure IS correct, tbs
other cannot differ from it and be correct.
Greshsm's Law.
It is an Inexorabla law Of money thas when
two metals are coined at a fixed ratio and both
made legal tender, If either is undermined 10
the coinage law the undervalued metal goes
out Of circulation About the middle OF the
fourteuuth century Nicholas 0resule, the
father Of finance in France, announced his
great law TO Charles V $50 yeaTa later Copor-
uicue, the founder Of modern astronomy, an
nounoad IL 20 tho Prussiaus, and a. years sss.I
later Gresham announced IL 70 Queen Eliza
beth. Macaulay in his History If England"
shows how pcrfoctly this law worked in Eng
land and eloquently describes the diroful
49, io Ho Mua - t.A1s 1ot.7 ~
IS Just as bad when debased b. ovorvaluation
in coinage as when clipped or counterfeitSd.
In the one case the creditor Is deceived, and
d;Ha-o,Sa -
-. ~ uI'' ~ $3.50 y
~, = ~ %
saoaI;as. -, In ;Si1 1890 - - -,
Ellad.
Ihe gold standard advocates believe IN gold
as a STANDARD with the largest possible safe
use OK silver among the people, 1he &c 10 !
areaneIs believe IN tho socGliod double stpnd-
ard, BIO we are cTlFen by thls law 10 the use
OK silver atone, All gold standard c5Cn
trles use large AiRruMes OF SILVER ana no
SILVER staneara country uses any gold what
ever. AS the practical question Is the use
OF the metals y Follows THAI We are che
onheU-t.st ana tAa 10 u ! people are the
monolnetiliao G.ncs tae battle Jhay Is 70
be fought 10 a arlsh nest year j. whether We
VIII remain @lo@9 2 @J4a shAna&Ho, Win actual
blmet1A.an- IN uso aIong tho paople-gy!d
arc silver c'3sHl&E.n nicely N1sh-Ut ClsetlW
ah44.ch aeans6 eitLtE-Hs ahdi we nave . 81
called double stanaafa at the minis and no
"h+fe else "-tA aver aAshometAllenl N &C.
tue! user Lhe battle Is between substance ana
shadoWI bg5Necn thoSe VINO want Ef4netalllhm
We are the trlenC5 OF SILVER money, who would
brlnS 80 It's ald the POWER OF the government
TO keep II good, and they ore its enemies,
VINO ny unlimited coinage, would Jafe from
~ the guarantee or parity D. Uhe governments,
End thereby degrade it 70 It's market value.
Our government has been and is now coin
ing silver at the ratio 81 10 TO ! 10 IS enabled
70 90 this, because under the law 1t can re-
strict the amount coined, ands being vested
win this control 1t undertakes to make every
dollar COCO money 4he moment the govern
ment loses control OF the coinage, confidence
IN ls AFFINITY 70 protect the money issued Is
gone, and d silver dollar then rests OF !ts Iaer-
IL ana Is worm % cents. 10 Illustrate: "A
inefchahb coula very Wen guarantee the ex-
penses or his clerk II he were allowed TO con-
Ifoi the Expenses, ont X the clerk denaDaed
free anc unlimited expenses then the mcr-
chant Woulo have 70 STAND IRON under and
let the expenses take care OF themselves
We hear u great Zeal OF mclgDent declama
ZION because Toe government aoe5 not pay lta
'coln obligations IA 8ltyer. TO malntnin the
parity between gold ana silver II ~ essential
that tha government IA reealYlng It's dues ard
paying ls debts must lglore the lnfef'orftG OF
silver, Just a. q hlother pretends not g see the
limp Of her lame child This gives the opCion
OF metals TO the person dealing with the gov
ernment, whether as debtor or creditor. II the
government should discriminate against silver
by refusing 30 receive II for dues, or BY Iaslst
'"0 NA t"J 'N1 ~ 50" VI GgN' N+NNN N@AArN
the parity would be gone and the silver in
every mans pocket would would DO at q dis
count. Its coinage being under the control OF
the government, the government makes 1t
good at its counter, and this makes 1t good at
every counter in the world.
III there Is anything IN the double standard
stability idea we ought to work Tor 1t for all
1t Is worth. If two metals VIII Tx value better
than one, then three metals VIII beat two, and
four beat three, and by having eight or ten
metals In the standard We can anchor 1t 80
that 1T VIII not crawl an inch In LOO years.
The second proposition Is that gold has ap
preciated and thereby depressed prices. The
same cause operating upon a number of ar
ticles will produce the same effect IN al those
not affected by . contravening cause. When
we contemplate prices, we IND that since the
golu STANDARD was auop'eo' rep. y lo'S' some
aasnninod sta+f"narr III sauna 80 q, =
- 90 - oantntna oo,sas Iii 80,
49,; Far tha sai,,,ra - eoId - donra5s ~,
IL W. ano 49, ~ ~ art;o,as 49, a.
aiinca =. 49, eanaa 60 - q, ~ -
- - hos anu o,a ar+,c,o rarnatnaa "a
go danrassad Tb,o do,nors,ra,as 10, :
- 49, pr.ioIas .bat haya dan,;aaa 49,
- .no1,i,n ana 80 - osSoaaa = y hu a.
eons,oad - ~ s
tn 80, oranmant 30 tha ~ , . a.
~ "