Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1896-01-02

! S'"bS'o III oil llOHbldIy hlHuudTQ anC
the degradation Of our currency. The
past is full Of lessons teaching not only
! the economic dangers, hut the national
immortality that follows in the train OF
/ such experiments / will not believe
that the American people can Ee per-
shaded after sober deliberation to ieop.
ardize their nation s prestige and proud
standing by encouraging financial nos
trums, nor that they will yield to the
false allurements Of cheap money, when
they re0lize that ii must result in the
weakening of that financial integrity and
rectitude which thus far in our history
have been SO dcvotcdly cherished as one
Of tho traits of true Amcricanism.
Our country's Indebtedness, whether
owing by the government or existing be-
tween individuals, has been contracted
with reference to our present standard.
To decree by act Of congress that these
debts shall be payable in less valuable
dollars than those within the contem-
plation and intention Of tho parties
when contracted would operate to trans
fer, by the fiat of law, and without com
pensation, an amount Of property and a
volume of rights and interests almost
incalculable.
Those who advocate a blind and head
long plunge to free coinage in the name
Of bimetallism and protesting tho be-
lief, contrary to all experience, that we
could thus establish a double standard
and u concurrent circulation Of both
metals IN our coinage, are certainly
reckoning from cloudy standpoint
Our present standard of value is the
standard of the civilized world and per-
mits tho only bimetallism now possible,
or ut least that is within the indcpend-
ent roach of any single nation. however
powerful that nation may be.
There is vast difference between
standard Of value and u currency for
monetary use. The standard must neces-
Rarily be fixed and certain. The currency
may be in divers forms and Of various
kinds. No silver standard country has u
gold currency in circulation, but an en-
lightcned and wise system Of finance Sc
cures the benefits Of both gold and silver
as currency and circulating medium by
keeping the standard stable and all
other currency at par with it. Such
system and such standard also give
free scope for the use and expansion of
safe and conservative credit, SO indis-
ponsablo to broad and growing CONNER
cial transactions and SO we'll substituted
for the actual use of money. IL u fixed
and stable standard is maintained such
as tho magnitude and safety of our com
mcrCial transactions and business re-
quire, tho uso Of money itself is con-
voniontly minimizcd. Every dollar of
fixed and stable value has through the
agency Of confident credit an astonishing
capacity Of multiplying itself in tiuan-
cial work Every unstable and fluctuat-
ing dollar fails rs Il basis Of credit, and
its uSo bcgets gambling speculation and
tho foundations of honest
enterprise.
havo vcnturcd to express myself on
this subject with oarncStnCsa and PLAIN
ness Of speech because cannot rid my
self Of the belief that there Turks in the
for tho free coinage of sill
yer, SO strongly approved and 81 cnthu
advocated by multitude Ct
my Cuuutrymcn, II serious menace to our
md an insidlOuS temptation
Of our people to wander from the allo-
glance thcy oWo to public and private
1t is because donot diS;rust
the good faith and sincerity of those
who press this scheme that | have inn
perfectly but with zeal submitted my
thoughts upon this mumentous subject.
| cannot refrain from begging them to
re- CNamiuo their views and beliefs IN
the light Of patriotic reason and familiar
experiences, and to weigh again and
again tho consequences of such lcgfsla-
ton US their efforts have invited Even
the continued agitation Of tho subject
ndds greatly to the difficulties Of u dam
Sorous financial situation already forced
upon us.