White Oaks eagle. (White Oaks, N.M.) 189?-190?, 1896-04-30

democrats Of the country propose to do;
aud they propose TO do it by reversing
the legislative process by which silver
has been demonetized and shut out
from the mints.
When the free coinage bill of 1890 Qor
which the Sherman law was suistltuted)
had passed the senate and the prediction
was made that Mr. Harrison would sign
it il it passed the housc, the price OF
silver all over the world went up to Sl.20
an ounce. Editor Pulitzer has forgot
ten this fact il he ever knew it, for 1t is
Just as convenient for an organ OF the
money power to forget an important
fact as it is to be ignorant of 1t. Bad
memory and ignorance play leading
parts in the public representation OF
the partisans of the single gold standard.
Consequently We take pleasure in
conveying to Editor Pulitzer the inror
nation (garnished with such expressions
of esteem rs may be nee ssdry to make
it palpable) that the genuine democrats
Of the country propose to restore the
commercial value Of silver III the only
way that it can be restored-by means
of free mintage. This is the only way
that the value of silver can be restored
to give to the metal the potential power
of full legal tender redemption money.
We can only restore the conditions prior
to 1873 by restoring the law Of free
min tage for silver that prevailed prior
to 1873.
We believe that Editor Pulitzer is in
the habit of declaring in his able paper
that free mintage of silver wonld not
lift the value of the metal, and lie at.
tempts to prove it, if We mistake not,
by saying that legislation cannot create
values, which, with respect to silver,
| is only another name for silver. We
have not the slightest idea that Editor
Pulitzer believes in the statement or has
any confidence in the proof he brings
forward.
Otherwise he would not be opposing
protection. Neither would he favor L..
He would calmly turn to the trusts aud
monopoios and say; Go to, with
your nonsens+ The law cannot create
values or pricos and therefore, high
tariff law will not incl ease your profits
nor low tariff law diminish them
But he says no such thing, but declares
that high tariff law levies unjust tax
alton on the people by compelling them
to pay higher prices for the articles
they consume.
Lost Editor Pulitzer should imagine
that We are dsposing OF bis bastless
and ridiculous arguments on our own
humble responsibility, we call his at
tention to this statement, made by Mr
Henry Hucks Gibbs, one of the most
prominent of British fnanciers, well
known to Editor Pulitzer. Speaking OF
the restoration of silver, MIR. Gibbs
SAYS But it is the law Of free mintage
necessary part of the double stand
. ard, which of its If maintains a constant
and paratively even market for the
metal
In other words, if the United States
we're to provide free mintage for silveI
, tomorrow, the value of silver in this
country would instantly rise to the
, coinage ratio. SO far as the rest OF the
world is concerned, as Mr.. Gibbs shows
It would be wholly a question OF OK
change. II, for instance, silver was below
, par IN London, the power of rehllt
tance-that is to say the power of
buyer or 6ebtor to send the silver itsel
instead OF bill of exchange, would IN
eyitably fix the price below which silly eI
4 could not go in the London market
: This is so plain aud simple, so indisput
Q able, that we wonder how any person 9
average intelligence can MAINTAIN th,
/ contrary. The powe: to remit al
e ounce Of silver to this country and re
c ceyo in exchange therefor 81 % wortl
4. Of our corn, wheat, cotton or other pro
n dncis would maintain the price OF sill
yer on that level in London. As mat
j. ter Of fact the silver would not be re
u mitted, but the power to remit it woul'
e maintain it's commt rcial value on a leyt
with the mint ratio in this country.
@ Now these are the conditions that th
4 democratic party proposes to restore, an
u II the honest voters Of the country vi
u staud together tie .rohber dollar ]
II doomed Atlanta Constitution.
4 otnHENT LhphHBApIc