The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-21
A GREAT SPEECH.
Judge Aldredge, at Atlanta, Be-
fore Convention of Amer
lean Bankers.

wit and Humor. with sound Logic. Ksp
the Convention In an Uproar-Case State
So Plainly That All Can Understand L
Five Principal Free Coinage Argument
Answered. In Turn-Chinch Bugs an
Boiiworms Versus 10 to Cranks-whs
Makes Interest Lows-Important Prizes
That Have Risen Since 1879.
Perhaps the sound money speech In creates
demand In all parts OF the counsry. and the d,
nand for which Is most constantly growing,
that % Judge George N. Aldredge Of Dallas
Tex. delivered OCT 10. 1895. at the convention
u the American Bankers association at Al
lanta. Ga. We are certain that all Of our read
srs viii relish the wit and humor which upse
the dignity of the bankers. They win also nn'
| IL very instructive reading. We reprint IL Il
| full below:
The proposition that this government sbouli
| ,oin silver for the world. In unlimited amount
at double its market value, Is so repugnant &
i the common sense OF mankind that 10 ought q
i be unnecessary To discuss IL, and would be but
for the fact that portion Of our people have
i been misled by appeals to their prejudice and
| by the specious reasoning OF sophists. II our
| government were asked To declare that two
| quarts equaled q gallon OF % revise the multi
plication table and enact that 10 times IL
soualed 400 oil men would see the folly, but
when asked to believe that $40 worth OF silver,
by being touched by the government stamp,
Instantly becomes worth So, many people
honestly believe this miracle may be accom-
plished, and many others affect 10 believe 1t
TOR practical purposes
Ill her. l.a.xs.
lusions in reference to money, and in spite OF
uniform disastrous results many are ever
ready 70 listen TO the teachings OF any charla-
tan who claims that he has discovered a short
.r route TO wealth. They rsfuse 20 apply to
money that hard common sense which they
exercise in dealing with the everyday affairs
Of life. The ignorant have always had super
stition about silver. Among the negroes OF the
south nothing would kill witch but silver
bullet
That our ancestors 100 years ago fixed a unit
OF value In gold or silver and fixed "A ratio be-
tween them Is immaterial TO u.s. Their exam
pie In 50 doing Is not more binding ON us than
their methods of business, their means Of
transportation. OF the implements with which
they sowed and reaped. II would be sad
commentary upon our intelligence IL we had
learned nothing in 100 years. We do know
that in fixing a ratio they attributed no magic
TO the government stamp but sought diligent-
ly TO ascertain the market value of the two
metals In the leading nations of the world and
conformed, as they thought, strictly TO this
market ratio. BY pursuing the method adopt
ed by them We would now fix the ratio at
about 81 to l. The consistent man is not the
one who stands In one place always, regardless
OF the changing conditions around him, but II
Is he who. with intelligence and circumspec-
ton, adapts himself to the changed condition
of affairs.
Gold Versus Silver Standard Countries.
For nearly 20 years every enlightened nation
In the world has been on u gold standard basis.
They are oil representative governments, and
their people. The government which first es-
tsblished the gold standard is more obedient
to the will Of its people than ours is. When an
important administration measure Is defeated
by the representatives OF the English people.
the government IL Immediately placed in the
hands OF the opposition. The gold standard
nations are those that have reclaimed the
world from barbarism and have given IL all its
earning and invention. where schools and
;hurches abound, where the dignity Of man il
maintained and labor properly rewarded and
hey control the commerce Of the world
These nations, after testing gold and silver
or hundreds Of years, voluntarily adopted the
yold standard. No nation today has the silver
from choice. II is only because they
any OF them remain on q silver basis. But to-
lay the United States the foremost nation in
All the earth in solvency and resources, in In.
tellgence and energy, IL seriously invited 10
abandon the standard OF civilization and COM
merce and TO consort with half civilized. half
Had people, who are weak and ignorant. who
have little or no commerce. where bull, fights
abound and schools do not, where human labor
IS In sharp competition with the meek and |
owly jackass, where IA breechclout is preferred |
70 full suit and where the bulk OF the people |
know no more about IA standard of value than |
! mule about the nobular hypothesis. Surely
We would do well TO take look at the com |
'any before we sit down to the feast.
Free Coinage Arguments.
The invitation is that this country, after |
having adjusted its enormous business for % |
Tears TO gold standard, shall suddenly read. |
ust all business and all values to what IL
termed "A double standard OF gold and silver
The arguments advanced in behalf Of such a |
change are:
First.-A double standard resting upon gold |
md silver would give more correct measure
" value and one less liable 10 fuctuation than
single gold standard.
Second.-Gold has appreciated in whine md /
Nj property measured by IL has declined in /
,alue.
Third.-The supply Of gold is inadequate to
make II a safe standard, and the scarcity OF 10 /
Will tend to the depression OF prices
Fourth.-The free, unlimited coinage OF sil.
Ier at the ratio OF 10 to will create unlimited /
demand for silver and restore it to par
Fifth.-Free and unlimited coinage OF silver
4 10 to will increase the prices Of property.
Mythical Double Standard
With reference to the first proposition. A /
tandard Of value is some exact measure which |
nters into and becomes part OF every con.
ract, and to which all obligations are refer.
bile. III our government could. by legal enact
nent, hx the value OF gold and silver in the
markets. OF the world and could keep them adj.
listed 10. fixed ratio, a double standard
you'd be practicable. But IL cannot fix or
maintain value. The buyers of the world the
merchants, do that. When Abraham purchased
lis lot In Ephron's cemetery, he weighed out
o Ephron silver "current money with the
merchant" And the merchants Of the world
ave been saying what shall be current
money" from that day TO this.
Governments are as powerless to suspend the
aw OF value IN they are 10 suspend the law of
ravitation. Such being the case, can con.
Give OF two standards, one OF gold and the
ther OF silver, and contracts might be made
eferable TO either standard but the intlcter-
innate double standard, resting ON two met.
Is not linked together by any binding obli-
alton, but both acting under go rs you please
ules, Is to me absolutely incomprehensible |
We cannot bind them together as we do two
Metals In the pendulum OF a clock or in the
handspring Of watch. No people ever did
usiness under the imaginary double standard,
nd every attempt to enforce IL has resulted In
lternating from one standard 70 the other
'ngland tried IL for go years. and IL was an
tier failure. France changed her ratio lis
lines In u years trying to walk the double
tandard tight rope. We tried II and went first
0 silver basis. then to n gold basis. then TO
paper basis and then back 10 n gold basis.
he phrase "double standard '.is contradic- |
Ion OF terms. Standard means correct meas.
re, and there cannot be two different correct
Measures OF value any more than there can DO |
wo different correct weights to sell by. two |
inerent correct compasses TO sail by or two |
inerent correct thermometers 10 measure |