Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1896-09-03


sibility about it. These men would reject
with contempt the proposition that free
coinage WIS to come with pledge on be-
half Of the Government to maintain the
parity Of the two dollars. But this feeling
Is well adapted to touch the prevailing
American bumptiousness and well adapted
to touch that prejudice against England
which the people have.
But can we do this thing ourselves?
Is 1t quest ion whether we will do 1t or
ask somebody's consent; whether we may
or ask the cooperation OF somebody?
Not at all. l will tell you what this gov
eminent can do alone. 1t can fix its
money unit. 1t can declare by law what
shall be the relative value of an ounce OF
gold and an ounce Of silver, but it cannot
make that last declaration good. 1t is
unquestionably fully within the power Of
this government to bring this country to
silver basis by coming silver dollars
and making them legal tender. They
can do that.
This government says you shall take
one OF these dollars in discharge OF any
debt owing to you for dollar, notwith-
standing you may have loaned gold dol
lars, but it cannot say, and enforce its
decree, II you should call out the regular
army and navy and muster all our great
modern ships and add the militia, and
put William J. Bryan in command OF
them-it cannot enforce the decree that
-one ounce OF gold is the equivalent OF
sixteen ounces OF silver.
Not only that-uot even France and
England and Germany can do that unless
the markets respond. Why? You may
make me take a silver dollar for a debt;
but il l have bought my goods at gold
prices you cannot make me give as many
yards OF cloth for silver dollar as have
been in the habit OF giving for gold one.
II have gold dollar in this hand and
silver one in that, and you declare they
are equal and can take that gold dollar to
a bullion broker and get two dollars for
1t, l know 1t is a lie. II l have nothing
but gold dollar and sugar is twenty
pounds for a dollar, l will not give that
gold dollar for twenty pounds of sugar; l
will take it around to broker and get
two silver dollars for it and get the TWEEN
ty pounds Of sugar and have one silver
dollar left.
So it is, my friends. We can Of our
selves, OF our wisdom, declare the unit
| OF value; we can coin silver freely, but
we cannot make sixteen ounces OF silver
equal to one ounce OF gold unless it is.
And it is not unless the merchants take
it at that rate. That is where all this
thing comes in. 1t is trade; it is the
merchant; it is the man who exchanges
| and deals i'll these things that fixes their
| relative value, and II you do not take the
value he fixes the gold dollar will go back
to the gold vault and the gold will go out
OF circulation. What is another conse-
quence? In this connection these gentle
men say: "Why didn't we win the battle
Mt Bunker Hill? Didn't we whip the
British at Yorktown? And do you mean
| to say that we can't do it again?'
! The logic Of these gentlemen-if may
| use such a term i'll connection with such
/ balderdash-is that nation that can do
| these great things and establish its po
| liticai Independence can also be tinan-
cally and commercially free. 1t cannot
be free Of he laws of trade.