The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-18

first time in the national platform of
any political party shall be made eff
fective, then we are without hope. And
what is our remedy? What was the
system of bimetallism which prevail
ed prior to 1878?
1t was the free and unlimited COIN
age of both gold and silver on equal
terms and without discrimination at
a ratio of practically Is to 1, exactly
what is demanded by the Chicago
platform.
II IS the bimetallic system of the
constitution which reserves to the
federal government the exclusive right
to coin money, and forbids the states
from making anything other than gold
and silver coins for the United States
A LEGAL TENDER
in the payment of debts. 1t is the sys-
tenn founded by that great conserva-
tive statesman and financier Alexander
Hamilton, by and with the advice,
consent, and cooperation of the father
of Democracy, Thomas Jefferson, and
the other early statesmen. In June
last the Republican party assembled
in national convention at st. Louis,
nominated it's candidate for president
and vice president and adopted a plat
form in favor of the single standard
and in opposition to the use of silver
as lawful money Silver is not STAN
dard' money now, but it is measured
by goIu we have the gold standard
alone, and the Republican party in its
platform demands its maintenance IN
violation of all the past teachings ana
policy and in violation OF the consul
tuition Again, l say, we are Demo-
Gratis. and we are not revoiut1onlstS.
Revolutionistsi Rather apply the term
to those engaged in the attempt 10
destroy one-half of the money of the
world, thereby, as Baron Rothschlld
said, accomplishing a destruction OF
values without any compensation 10
us who are trying to return to the
monetary system which prevailed IN
our country for more than eighty
year-a system founded and approved
by Hamilton, Jefferson and
ALL THE EARLY STATESMEN
of the republic. But it is also charged
that we are repudiationists. They say
that we are in favor of fifty-three
cent dollar to be used in the payment
of debts Our answer is that return
to the system of bimetaliism which eX-
listed prior to 1873 means that gold ana
silver shall be kept at parity OF
value according to the legal ratio. why
was 1t that Inc DulIlOll value iSAiioAiSN.
stable before 1873, and began 10 vary
after that date? Not because of the
increased relative position OF silver.
There were much wider variations ID
the relative production of the metals
before 1873 than there have been since:
At one period, the production OF gold
was 70 per cent less than of silver at
any other period 1t was more tnan
i 200 per cent greater. AT one time. Sill
/ yer coinage almost ceased. AT another
time, gold coinage almost ceased But
all during this almost enc hundred
years there was never moment Wnei !
a melted silver dollar Of the United
States would not bring more than
dollar in gold in the worlds markets.
The use of gold and silver is almost
entirely a monetary one People lor
ages have used both fer money.
i Neither silver nor gold has got m
/ trinsic value. Their value IS artlflc.ad
caused by human desire. That de
/ sire is caused by their monetary use
and that alone The value of gold rests
I in the confidence that men have IN a
government that will recognize its
/ monetary use and stamp 1t as money
/ While men had that
SAME CONFIDENCE IN SILVER,
it was as valuable when melted as