The morning times., 1896-08-28
A Huge and Disastrous Bunco Game.

silver moneys And that
power dollar, during
and during which those who debts will pay than they
to indefinite during which it will be
ASK you TO point you can to single IN 1n
history OF the world where the people have prospeed by an
its parity with the which that dollar is to buy which will
justice bween man and man How arc going
R BY having enough of standard to keep with
that We that and sSer ~
advocating the restoration of the gold and silver coinage of the
Constitution advocating system which will bring back
to something stability in the value of the dollar believe
that righ-F1om Mr. Btyan's RocAese, Speech.
The pending silver campaign is nothing
less than gigantic political bunco game i'll the
interests of solid South and the Western mining
States. with candidate Bryan and the prominent Demo
cratic leaders chief bunco Free silver is
advocated by the South means of defeating the
growing protection sentiment and of maintaining the
supremacy of the Democratic party the Western mining
States expect to profit through rise in the price of
silver brought about by free silver agitation All in
tellgent Democratic leaders. North, South, East and
West, know that bimetasm without European
operation mpossiblity and that it has been
in practical operation in country They also know
that Congress will pass free coinage bill, and
they understand that it be done For these
they deceving the public. and it is time light
thrown their scheme, that the victims of their
bunco piracy may the true political situation
. Bimetaliisn, the double money standard has
been enforced for length of by any country
although history points to repeated attempts to do
and equally many failures The United States held
her mns open to free coinage an 1873 but at time
did We Have bmeallism, except in name, notwthstand
ing the fact that the legal ratio between gold and silver
changed several times to enforce it. In 1872 JEFF
ferson and Hamilton fixed the first ratio at IS to but
the commercial ratio the next year. and gold so
undervaued that spectators sent it abroad In 1913
the of Spanish light weight coin legazed and
this had the effect of causing newly silver to
be exported To stop this kind of speculation Pres
dent Jefferson 1906 issued the following order through
his Secretary of State and in consequence silver
coined for thirty years thereafter:
DEPARTMENT OF STATE, May l. 1906
SIRIn consequence OF representation from the Director of
dollars coined the Mint for the purpose
porting and it probable that further purchases and
the Mint shall be of small denomination that
vaue the largest shall notexceed half dollar Iam
ROBERT PATTERSON Esq JAMES MADISON.
s"~ 8" Director of the Mint. 49,,
During the first ten years of the present century the
commercial ratio of gold and silver averaged 1861
In the second years it fell to 1851 l. and in the
decade of to Is Soto1 Eventhese slight
fluctuations forced all the gold out of the country and
in 1884 the coinage ratio changed to 16 pre-
it's expectation. While the bill authorizing this
change under consideration, Senator Benton de
clared in speech in the Senate that out of the SILL
s52 800 Of gold coined up to 1884 net dollar be
seen, and all had been sold and exported few years
trial of the 16 to ratio showed that silver had been
undervalued by 1889 the ratio declined to
ard nearly entire silver exported Con-
seeueny. in all the years. from 1889 to 1859 only ST.
32S, ,S23 of standard silver coined. Therefore,
through President Jeersons executive order stopping
the coinage of silver and the disparity between the
mercia and coinage ratios bimetasm actually pro-
hibted in United States up 1852 After that came
the of deprecated currency and although the
mercial ratio of gold and silver uctuated between
to and to neither of these metals crcua
ton because of the premium they commanded
In the face of these facts but political dema-
gogue ignoramus advocate bimetallism 1t has
never existed it become practical financial
policy until all the great commercial nations agree to
otherwise the entire gold and silver product
and then to maintain bimetasm their money must be
mnted at the ratio Alone and unaded the United
States would fail to enforce coinage parity between