Freeland tribune. (Freeland, Pa.) 1888-1921, 1896-08-13

ing their energies toward the permanent
establishment of gold standard under
cover of u declaration in favor of intcrna-
tonal bimctallism, | am justified in sug-
costing that honest money cannot be cX-
pccted at the hands of those who deal dis
honestly with the American PEOPLE
What is the test of honesty i'll money? 1t
must certainly be found in the purchasing
power of the dollar. An absolutely honest
dollar, would not vary in its general pur-
chasing power. 1t would be absolutely
stable when measured by average prices
A dollar which increases in purchasing
power is just as dishonest MS dollar which
decreases in purchasing power. Professor
laughlin now of the University of Chi
cago ard ono of the highest gold standard
authorities, in his work on bimctallsm
not only admits that gold docs not remain
absolutely stable in value, but expressly
asserts that "thcrc is no such thing as Il
standard of value for future payments
either in gold or silver, which remains ah-
solutcly invariablc. He even suggests
that II multiple standard wherein the unit
is based upon the selling prices Of IL num-
Der of articles of general consumption"
would be more just standard than either
gold or silver, or both, because "a long
time contract would thereby be paid ut its
maturity by the same purchasing power as
was given in the beginning"
Purchasing Power of the Dollar.
1t cannot be successfully claimed thnt
monometallism or bimetallsm or any 9TH
CT system gives an absolutely just stand
ard of value. Under both monomCtallism
and bimetallism the government fixes the
weight and flnenCss of the dollar, invests
it with legal tender qualities and then
opens the mitts to its unrestricted coinage,
leaving the purchasing power of the dollar
to be determined by the number of dollars
Bimetallism is better than monometallism
not because it gives us perfect dc liar
that is, II dollar absolutely unyarying in
its general purchasing powcr-but because
1t makes II nearer approach to stability, to
honesty, to justice, than II gold standard
possibly can. Prior to 1873, when there
were enough open mints to permit all the
gold and silver available for coinage to find
entrance into the worlds volume of stand
ard money, the United States might have
maintained gold standard with less in
jury to the people of this country, but
now, when each step toward II universal
gold standard enhances the purchasing
power of gold, dcprCsscs prices and trans
fers to the pockets of the creditor class an
unearned increment, the influence of this
great nation must be thrown upon the side
of gold unless we are prepared to accept
the natural and legitimate consequences of
such an act. Any legislation which lessons
the worlds stock of standard money in
crcascs the cxchangeable value of the dol
lar. Therefore the crusade against silver
must inevitably raise the purchasing pow
or of money and lower the money value of
all other forms of property
Our opponents sometimes admit that it
was mistake to demunetize silver, but
insist that we should submit to present
conditions rather than return to the BIZ
metallic system. They err in supposing
that we have reached the end of the evil
results of gold standard. We have not
reached the end. The injury is contnu-
ing one, and no person can say how long
the world is to suffer from the attempt to
make gold the only standard money The
same influences which arc now operating
to destroy silver in the United States will,
if successful here, be turned against other
silver using countries, and each new con-
vert to the gold standard will add to the
general distress. So long us the scramble
for gold continues prices must fall, and II
general fall in prices is but another deiini-
ton of hard times.
Our opponents, while claiming entire
disinterestcdness for themselves, have APP
| pealed to the sclhShnesS of nearly every
class of society. Recognizing the DISPOSE
tion of the individual voter to consider the
effect of any proposed legislation upon
| himself we present to the American peo-
pie the financial policy outlined in the
| Chicago platform, believing that it will
result in the greatest good to the greatest
number.
The farmers are opposed to the gold
standard because they have felt its effects.
Since they sell at wholesale and buy at re-
tail they have lost more than they have
| gained by falling prices, and besides this
| they have found that certain fixed charges
have not fallen at all. Taxes have not
been pcrceptibly decreased although it re-
quires more of farm products now than
formerly to secure the money with which
to pay taxes. Debts have not fallen. The
farmer who owed 81 ,000 is still compelled
to pay 81 ,OO0, although it may be twice
as difficult as formerly to obtain the dol
lars with which to pay the debt. Railroad
rates have not been reduced to keep pace
with falling prices and besides these
| items there arc many more The farmer
has thus found it more and more difficult
to live. Has he not a just complaint
against the gold standard?
Eject on Wage Farmers.
The wage earnors have been injured by
n gold standard and have expressed them
selves upon the subject with great en-
phasis. In February, 1895, petition ask
| ing for the immediate restoration of the
free and unlimited coinage of gold and sill
yer at 16 to 1 was signed by the represent
atiyos of all, or nearly all, the leading Ia
Dor organizations and presented to con
gress. Wage earners know that while a
| gold standard raises the purchasing power
of the dollar it also makes it more diff
cult to obtain possession of the dollar.
| They know that employment is less per-
manent, loss of work more probable and
accomplishment less certain. A gold stand
ard encourages the boarding of money be-
cause money is rising. 1t also discourages
enterprise and paraly2cs industry. On the
other hand, the restoration of bimctallism
will discourage boarding because when
prices are steady or rising money cannot
afford to lie idle in the bank vaults. The
farmers and wage earners together consti-