The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-09-05

and is contradicted by experience In al
times and In all lands. IL means the de
basement of Our currency to the amount o
| the difference between the commercial anc
coin value OF the silver dollar, which Is evel
changing. and me enect would be to re-
cial loss, destroy confidence, impair the
obligations of existing contracts, further
impoverish the laborers and producers OF
the country. create a panic of unparalleled
severity and inlet upon trade and COM
nerce deadly blow Against any such
DimctallIsm.
"Bimetallism cannot be secured by In
dependent action on our part. IL cannot
be obtained by opening our mints TO the
world, at the ratio of sixteen ounces OF
| silver to one ounce or gold, when the
commercial ratio Is more than thirty ounces
| China have tried the experiment Mexico
| has free coinage OF silver and gold at a
ratio slightly IN excess of sixteen and one
| half ounces OF silver to one ounce or gold.
! and while her mints are freely open to
both ms9 a az thai ra aoea aot sngS dol
| as money. Gold has been driven out OF
circulation in these countries. and they
| tional agreement is had. 1t Is the plain
| duty of the United States to maintain the
gold standard. II Is the recognized, and
lions OF the world, With which We trade
| more largely than any other. Eighty
fiscal fHc ' year 1885 was with gold standard
countries, and our t~ade with other coun-
tries was settled on gold basis.
We Now Have More Silver Than Gold.
Chiefly by means of legislation during
and since 1878 there has been put In crcu-
lation more than 100000 of silver, or
its representative. This has been done In
the honest effort to give to silver, If pos
sible, the same bullion and coinage value,
and encourage the concurrent use Of both
gold and silver as money. Prior 10 that
time there had been less than 100000 OF
Gil va Al nj lnr n n ire iSfn
OF the United States. period of 90 years
This legislation secured the largest use
OF silver consistent with financial safety,
and the pledge TO maintain its parity with
gold We have to-day more silver than
gold This has been ACCOMPLISHED at times
with grave peril to the public credit. The
the silver product of the United States for
money at It's market value. From 1890 to
lSSS the g3yernment purchase do 10000
n year This was one-third of the product
OF the world and practically all OF this
6osH Who and now Was favor Se ree eo
age that such use OF silver would advance
its bullion value to its coinage value. but
few months Notwithstanding the rlnprece-
dented market for the silver produced IN
the United States, the price of silver went
down very rapidly, reaching n lower point
than ever before Then, upon the rec
concentration OF President Cleveland, both
parties urited In the repeal OF tho pllr-
cannot with safety engage in further ex-
perimcnts In this direction.
Tho Double Standard.
"On the 22d of August. 1891, in a public |
ternatlonal ratio, which all the leading
nations OF the world would adopt, and the |
true relation be fixed between the two |
metals, and all agree upon the quantity of |
silver which should constitute a dollar |
then silver would be as free and unlimited |
IN It's prtFileges OF coinage as gold Is to-
secure, and with the free and unlimited |
coinage of silver adopted in the United |
States at the present ratio we would be |
still further removed from any interna-
tional agreement. We may never be able |
to secure i IL we enter upon the isolated
coinage of SILVER. The double. standard |
implies equality at q ratio. and that equal |
ity can only be established by the concur
rent law Of nations. 1t was the concurrent |
law Of nations that made the double stand |
ard 1t Will require the concurrent law OF |
nations to rcinstatc and sustain it
Favors the Csc of silver Money.
The republican party has not been, and |
is not now, opposed TO the use OF silver |
has done all that could be done for its in |
creased use, with safety and honor, by the |
United States acting apart from other gov |
ernments. There are those who think That
it has already gone beyond the limit OF |
financial prudence. Surely we can 80 no
further and we must not permit false |
lights to lure us across the danger line.
I'VE have much more, silver in use than
China-$5OO 100000 more than Great Britain;
El50,OOOu00 more than France: 100000. 900
more , than %, Germany; 1922 o0COG9 less than
The republican party has declared IN
favor of an international agreement and Il
elected president it will be my duty to
employ all proper means TO promote 1t. |
The free coinage of silver in this country
would defer, If not defeat international hi
agreement can be had every interest re-
quires us TO maintain our present standard.
Independent free coinage of silver at a
ratio of sixteen ounces of silver to ono
ounce Of gold would insure the speedy con-
traction of the volume of our currency. 1t
would drive at least S500oO0,m0 of gold,
when we now have, permanently from the
trade of the country, and greatly decrease
our per capita circulation.
~, Is aGt Propostsa py the republican
OF the country any of the silver we now
have. On the contrary it Is proposed TO
keep all of the silver money now in circu-
The pledge of the government that all of 1t
shah be equal to gold. This has been the
since ISIS It has in ina Snrian no pa new
policy. II will keep In circulation and as
good as gold all of the silver and paper
money which are now included in the cur
rency of the country. 1t will maintain their
parity. 1t viii preserve their equality I'm |
he future as 1t has always done In the past.
a silver basis which would inevitably fol-
low independent free coinage at a ratio of
SlAtttn 10 one. IL VIII oppose the Gxpul- |
sion of gold from our circulation.
Farmers and Laborers Suffer Most.
IF there is any one thing which should
De free from speculation and iluctuation
II Is the money OF Il country 1t ought never |
to be the subject of mere partisan conten-
tlon; When we part with our labor, our
or our property, we should re-
Ieive in return money which is as stable
and unchanging In value as the ingenuity
Of honest men can make IL. Debasement
or the currency means destruction of val
ueS. No one suffers so much from cheap
money aa the farmers and laborers. They
are the first to feel its bad effects and the
last TO recover from them. This has been
the uniform experience OF all countries
and here, as elsewhere the poor, and not
the rich. are always the greatest sufferers
from every attempt to debase our money |
IT would fall with alarming severity upon
investments already made; upon insur-
ance companies and their policy-holders:
upon savings banks and their depositors;
upon building and loan associations and
their members; upon the savings of thrift: |
upon pensioners and their families, and
upon wage-earners ond the purchasing |
power OF their wagcs.
Unlimited Irredecrnabie Paper Money
THE silver question is not the only issue |
affecting our money In the pending con-
test. Not content with urging the free
coinage OF silver, its strongest champions
demand that our paper money shall be |
issued directly by the government of the
FA