The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1896-07-11
BLAINE AND SILVER.

A number Of our esteemed Contem-
pOraries are quoting apprOvingly from
a speech delivered by James g. Blaine
Thursday, February 18th, 1873, in the
United States Senate, on House Bill No.
1893, to authorize the free coinage of
silver at 16 to 1. We mention this
matter because we don't like to see ultra
silver Republicans make fools of them
selves by quoting from that speech. Of
course the quotation is made for the
purpose of showing that Blaine was a
pronounced free coinage man, and being
a recognized apostle of Republican doc
trine, his utterances must be considered
as an expression of Republican prime.
iple. Blaine was unquestionably a bi.
metallist, but he belieYed-and in that
same speech positively adVocated-that
the coinage ratio of gold and silver
should correspond with the commercial
ratio. He was emphatically opposed to
a ratio of Is to /. Here are a few quo!
tatiOns from the speech which utterly
upset the impressions sought to be Gre
ated: However men may differ about
causes and processes, all will admit that
within a few years a great disturbance
has taken place in the relative values of
gold and silver, and that silver is worth
less or gold is worth more In the money
markets of the world in 1873 than in
1873, when the further coinage of silver
was prohibited in this country. To re-
nonetize 1t nO1O as though essential
conditions had not changed, is oOtlJtIlEy
and bttndIy to deoeiUe ourselves. If our
demonstration were the emily cause for
the decline in the value of silver, the re-
monetization would be its proper and
effeCtual cure. But other causes, beyond
our control, have been far more poten
TALLY operative than the simple fact that
Congress prohibited its further coin
age" And again in the same speech
which our contemporaries applaud so
enthusiastically, the great Republican
statesman says: "The question before
Congress then-sharply defined in the
pending House BILLS, whether it is
now safe and expedient to offer free
coinage to the silver dollar of 412J%
grains, with the minis of the Latin
Union closed and Germany not permit.
ting silver to be coined as money. At
current rates of silver, the free coinage
of a dollar containing 4121S grains.
worth in gold about ninety.two cents,
gtoeS an Legitimate profit to the oaOneg
of the bullion, enabling him to take
cents worth of it to the mint |
and get it stamped as coin and force his |
neighbOr to take it for a full dollar. II
follows that If We give free |
coinage to this dollar of inferior yalue |
and put it in circulation, we do so at the |
expense OF our better coinage in gold: |
and unless we expect the invariable ex- |
perience of other nations to be in some |
mysterious way suspended for our ne
culiar benefit, we inevitably lose our
gold. 1t viii flow out from us with the
certainty and with the force of the tides.
What gain, therefore.
should we make for the circulating me.
dunn, if on opening the gate for silver
TO walk in, We open a stin wider gate
for gold to flow Out2 i'll were to ven
ture upon dictum on the silver ques.
ton, / should declare that until Europe
silver wa ran nat aFFor5 q |
'Oin a dollar as low as 4121z grains.
after Europe remonetizes on the old
standard (151S to u, we can not afford
% coin dollar above 400 grains. If we
'Oin too low a dollar before general re-