The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1896-08-22
those whom Re serves the right to discuss
his Official conduct"

those whom ke servB Ihs right g discuss
his Official conduct"
b Me.sy Q~estssa-
Now let me ask you to consider the par
amount question Of this campaign-the
money question. 1t is scarcely necessary
to defend the principle OF himetaliism.
No national party during the entire history
Of the United States has ever declared
against II. and 10 party in this campaign
has had the temerity TO oppose it. Three
parties, the Democratic. pcpuiist and Sill
Yer parties ave not only declared for Iii
mcts;lli<m, but have outlined the specific
legislation necessary to restore silver To is
ancient position h. the side of gold. TIE
Republican Platform expressly declares
thit htsneras 5-il i desirable wat.l ii
Ylefiges the Republican party 10 aiI i'll -
turing il As soon as the assistance Of GER
tain foreign nations can be obtained. Those
WHO represented the minority sentiment in
the Chicago convention opposed the free
~a!s;tye OF silver by the United States liz
independent action on the ground that IN
their Judgment it would retard or entire
IT prevent the establishment If i~nIeraa-
tioaai b;metallism 10 which the efforts q.
- SoNSA EAoAAA N SAVAtifis tt-
rt.Iei.'t
When they asserted that the efforts Of
ths government should be steadily directed
toward the establishment of international
himetallism they condemned monomc+al-
ism The gold standard has been weighed
in the balance and found wanting. Ta.-e
from IL the powerful support OF the money
owning and moneyciaI.;Eg Glasses andis
cai:iicf stand far one tt.y ia any nation in
the world = was fastened IN tile [ nsted
States without discussion before the people
End its friends have never vet been Wiling
to risk a verdict before the voters upon
that isSue.
There can be no sympathy OF
ton the advocates of a universal
gold standard and the advocates of bimet-
asiiSm. Between bimetallism. whether
independent or international. and the gold
standard there is az impossible gulf. Il
this a~uadrsnnial agitation in favor OF in
fernationat blmetalllsm conducted in good
faith, or do our opponents desire to main
tam the gold standard permanentlys Are
they willing to confess the superiority Of
a double standard when joined in by the
trading nations of the world. or do they
still insist that gold is the only metal suit
able for standard honey among civilized
nations2 II they are, in fact. DESTROYS OF
securing bimetallism. we may expect
them to point u the evils of a gold
and defend bimetailism as a sys-
tenn. Ii. on the other hand. they are bend
ing their energies TOWARD the permanent
establishment Of a gold standard under
cover OF a declaration in favor OF interna-
tlonal bimetallism, | am justified in sug-
costing that honest money cannot be eX-
pected at the hands of those who deal dis
honestly with the American people. What
Is the test of honesty in money! 1t must
certainly be,sound in the purchasing power
OF the dollar An absolutely honest dollar
@ not vary in its general purchasing
power: 1t would be absolutely stable when
by average prices. A dollar
which Increases in purchasing power is
just rs dishonest as a dollar which de-
creases In purchasing power.
Professor Laughlin. now of the Uni
yersify OF Chicago. and one Of the highest
gold standard authorities, in his work on
bimetaltism not only admits that gold does
not remain absolutely stable in value. but
expressly asserts that there is no such
thing As a standard of value for future
payments. either in gold or silver. which
absolutely invariable. He ever
suggests that a multiple standard wherein
the unit is based upon the selling price of
number Of articles Of general consump-
ton would be q more just standard han
EITHER gold or silver or both, because q
c0ntrac. would thereby be paid
"a . iiaftAaEitS ~ tuO S1il1G UuINAfSatk
power as was given in the beginning
1t cannot he successfully claimed that
monOmetallism or bimetallism or any 9th
rr system gives an absolutely just standard
OF value. Under both monometallisim and
the government fixes the
and fineness of the dollar. invests it
legal tender qualities and then opens
the minis TO its unrestricted coinage. 1eav-
ing the purchasing power Of the dollar to
be determined by the number of dollars.
BimetallisIn is better than recommendation,
not because it gives us q perfect dollar
is q dollar absolutely unvarying in its
general purchasing pcwer-but because it
makes a nearer approach to stability. TO
honesty. TO justice than a gold standard
can
Prior 70 1873. when there were enough
minis TO permit all the gold and sill |
Ter available for coinage to find entrance
INTO the worlds volume of standard
money. the United States might have
q gold standard with less in |
Jury to the people OF this country but |
when zach step toward a universal |
gold standard enhances the purchasing
bower gold depresses prices and transfers |
10 the pocket OF the creditor class an IN |
armed increment the influence of this |
nation must not be thrown upon the |
'lde Of gold unless we are prepared to ac- |
;ept the natural and legitimate conse-
of such an act. Any legislation
lessons the worlds stock Of standard
money increases the excangeable value Of
he dollar: therefore the crusade against
liver must inevitably raise the purchas-
ng power of money and lower the money
OF all other forms Of property.
Our opponents some times admit that it
vas a mistake to demonetize silver, but
INSIST that we should submit to present
conditions rather than return to the BIZ
system. They err in ~supDosing |
hat we have reached the end Of the evil
Of a gold standard: we have not
cached he's end. The injury j. a continu-
us one n nc person can say how long
he world is to suffer from the attempt to
make gold the only standard money. The
anne influences which are now operating
Q destroy silver in the United States will
{ successful tere. be turned against other