The Irish standard., 1896-08-15
MlINNEAPoL is, MIMI I.

part Of: the government to. redeem It's obll.
ganons u silver would put 9 premisln.1S
France exercises the right to redeem ALL
| bank paper In either gold or silver, and YET
ranGe maintains The parity, ~ between selag
ia than We do in the United States. s.,5 8sss
1t may. be further answered that cur op tsA
ponents have suggested no feasible plan for
avoiding5the dangers which they fear. The
retirement Of the greenbacks and treasury
notes would not protect the treasury, Pc
| secretary of the treasury to redeem ALI
government paper In gold. when gold ~ de-
lnanded, VIII require the redsmption OF all
! it the greenbacks and treasury notes are
withdrawn from circulation. More than
I this, if the government should retire It's pa
per thrown upon the banks the necessity Of
furnishing coin for redemption, the banks
would exercise the right to furnish eilneTs
exercise the option. just AS the government
ought to exercise it now. The government
must either exercise the. right to redeem its
obligations in silver when silver Is more
| convenient, or it must retire all the silver
and silver certificates from circulation and
ey. Are our opponents willing to outline
! a financial system which will carry out
their policy to it's legitimate conclusion, or
| will they continue to cloak their designs IN
ambiguous phrases? Ia, ff9S
| SNAP FOR SILVER MIME OWNERS ESt
! There is an actual necessity FOR blmelai--8sS
lism as we'll az a theoretical defense o. az:
creating an additional demand for gold. ard
this law-created demand hero resulted IN
in the q, Sf
lism in the United States viii take, away
from gold just SO much Of Its purchasing
power as was added to i by the deeneTi h
silver dollar is now held up to the gold doi-s
lar by legal tender. laws and not by the re-
demption in gold, because the standard sil-
| either in law or by administrative policy
| We contend that free and unlimited coin
age by, the United States alone VIII raise
| value and thus make silver bullion Worth
sl:2s per ounce in gold throughout The Wor a
laws, NOT in defiance of them. The best
known law of commerce is the law OF supply
and demand We recognize This lay, laM an. aa
in the volume Of money will raise the pur
chasing Of the d9aa we :" sysr Weg
we say that new demand for silver Gre
ated by law will raise the price Of silver
other commodities in that they are limited
I in quantity. Corn, wheat, manufacturers
products, etc. can be produced al almost Win VI
price sufficient to stimulate production, but
gold and silver are called precious metals
they are bee the n obect of
ious search far back as history runs,
vet according to Mr.. Haryey's calcnlation
all the gold coin of the world can be melted
into a 2s-foot cube and all the silver coin In 4
the world into eG-foot cube. Because gold
and silver are limited, both In quantity now /
in hand and in actual production, 1t follows
that legislation can fix the ratio bet between ", IN
them. Any purchaser who stands ready 20
take the entire supply Of any given article
at a certain price can prevent that article
from falling below that price So the gov
eminent can fix the price for gold and silver
by creating demand greater than the sup.
Div. international bimetallists believe that
Several nations, by entering into an agree,
met to coin at fixed ratio all the gold and
silver presented can maintain the bullion
Value Of the metals at the mint. ratio |.
When mint price is thus esta bl.s1'ed 1t reg
uiates the bullion price because any person
desiring coin may have the bullion convert
ed into coin at that price, and any person I
desiring bullion can secure 1t by melting the
coin The only question upon, which inter
national bimetallisn1 and ipdependent b.
metallIsts differ is Can the United States
by the free and unlimited coinage Of silver
at the present legal ratio. create de'nand
fer silver which, taken in connection with
the demand already In eSistence, will be suf-