Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1896-02-04
TUESDAY,, FEBRUARY 4TH, 1896.
SENATOR KNUTE NELSON'S
SPEECH. !

SENATOR KNUTE NELSON'S
SPEECH. >,
Senator Knute Nelson delivered
a speech Jan. 81, in the Senate
on the silver question. This has
been looked forward to with a
good deal of interest, as it was
surmised that he might not be
entirely sound on this question.
It was at least known that he
holds peculiar views on the
greenback question. One thing
may be said and that is that he
at least attempts to argue the
questions, and he has in a few
words, said all that can be said
for the gold standard. His state
ments seem to bring out in a
clear light the real difference be
tween the sound money men and
the so-called silverites. We
quote from the Penny Press:
Mr.. Nelson began by saying:
1.-The free and unlimited coin
age of silver at the ratio of Is to 1
by the United States alone at
this time and under existing con-
ditions, will destroy the last yes
tige and last hope Of genuine BIZ
metalism.
"Complete bimetallism not on
ly implies equal mint privileges
but also equal facilities for. cir
culation. Both metals may be
freely coined and be power
less to maintain itself in circula-
ton. Though both metals may
be freely coined yet if for any
cause only one of these is in &C.
tive circulation then there is a
failure as that bimetallism which
seeks an abundant currency and
enhanced prices chief
grounds upon which free coin
age is placed. In this full and
plenary sense we have never had
complete bimetallism in this
country. We have been subject
to that law from which no nation
is exempt. The cheapest money
will drive the dearer out of circu-
lation unless the two are as a
matter of law and fact inter-con-
vertible with each other. Our
own experience and our own
financial history make this plain
and manifest. At least three
times in our experience we have
suffered the penalty of this law
and sought to overcome it's ef-
fects."
Now mark, complete bimetal-
ism not only implies equal mint
privileges, but also equal faci]-
tiles for circulation.
Now, we do not understand it
that way. All the free silverites
ask, and all that they undertand
by complete bimetallism" is
equal mint privileges. What
they ask is simply equal mint
privileges for the money me-
tails as existed up to 1873.
Restore the equal mint priv
leges, and it becomes a ques-
ton Of ratio sim ply to determine
which coin, gold or silver shall
predominant in circulation.
Both coins being standard
money it is Of very little conse-
quence which is in use. Neither
coin money circulates to any.
amount in this age, the actual
circulation being done with pa
per Representatives Of the coin,
we fail to see why silver certif>
Gates does not answer as money
as well as gold certificates But
if one Of the coins is preferred in
this country this cansbe secured
by an adjus TN nt Of the ratio as
in 1884. Silverites do not claim
that low prices are dueto a lack
of silver in circulation but ex-
Guiding silver from, equal mint
privileges, with gold a nation
may BE on The gold standard and
not have any gold in Giro ulation
81 the case with Canad la. So
zion may be on the silver
stand and not have any silver
IA elrculatio 81 And 50 alsoa ma
zion MAJ be On the bime talhc
- ~ Il .. II: "a