The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-08-21
81 w0rla. 81 thas Co alabIIIlg .



sehtauon that We have TO answer is the
charge that ne are advocating the pay
There Is no pro- cent dollars. AT the
cess by which we present time ana M
can be compelled der present laws,
to part with our sllset u3l.eLs NhSn
gold against oar 6sif its TS1,s mt
win, nor Is there that viii not be true
any process by when We again es-
which silver csa be tsbliSh 9 mint price
forced aeon a. Tor silver and leave
,-5,V,o.,t - - no surplus silver
sent, dTsF down ne mice
of bullion.
under bimetallism silver bullion viii be
worth as much silver coin lust as gold
bullion Is worth as muCn gold coin, ana
we believe that a silver dollar viii be worth
as much as gold dollar
The charge Of reputation comes with
poor grace nom those who are seeking 20
legislation which makes money deareF, ana
VINO conceal their designs against the gen
efat welfare under the euphOnlOus pre-
tense mat they eea UNFOLDING public credit
ana national hone"
In answer 10 theaharge that gold viii so
aOroad II must be remembered that no sold
can leave this country until the owner or
the gold receives something in return Tor
Il which be would rather have. in other
words, when gold leaves the country those
Who formerly owned IL viii be benefited.
There Is no process by which We can be
competed 10 part with our gold against
our viii, nor Is there any process by which
silver can be forced upon us without our
consent. Exchanges are matters OF agree
ment and if silver comes 10 this country
under Tree coinage 10 win be at the invita-
non OF some one in this country who Will
give something in exchange for IL.
those Who deny the ability Of the United
states 10 maintain the parity between gold.
ana silver at the present legal ratio, without
foreign AID, point to Mexico and assert that
tne opening or our minis Will reduce us 10
silver basis and raise gold to a premium
II is no reflection upon our sister RepuD-
lie TO remind our people that the United
states Is much greater than Mexico 10
area, IN population and IN commercial
strength. IL is absurd 10 assert that the
United States Is not able TO 90 anything
which Mexico has failed to accomplish. The
one thing necessary IN order 20 maintain the
parity is 20 furnish a demand. great enough
70 utilize ali the silver which Will come 70
the minis. That Mexico has failed 10 90
t1ls Is no proof that the United States would
also fail
1t is also argued that since a number
OF the nations have demOheuZed silver,
nothing can be done until all Of those IA
uOhS restore bimetallism. Tbs is also IL
logical IL is lmmateTiai how many or now
Jew nations have open minis, provided there
are sumcIent open mints 10 furnish a
monetary demand for all the gold and si-
yer now available for coinage.
IN reply 70 the argument that improved
machinery has lessened the cost OF pro-
ducing silver, 10 is sufficient to say that
the same is true of the production of gold,
ana yet Notwithstanding that, gold mas
risen in value.
"As a matter Of fact, the cost OF produc-
ton does Lot determine the value Of the
precious metals, except as IL may enect the
supply. II, Tor instance, the cost or pFoGuc-
ing gold should be reduced 80 per cent with
Irrrr en- rnrrH rannr Hna
chasing power Of an ounce of gold would
not fail. SO long as there is a monetary
demand sufficient TO take at fixed mint
price all the gold and silver produced the
cost of production need not be considered.
1T is often objected that the prices Of
gold and silver can not be fixed I'm relation
10 each other because of the variation ia
the relative production Of the metals, This
argument also OVeTiOOks the fact that, 4!
the demand for both metals at a fixed price
Is greater than the supply OF both, relative
production becomes tmmatertaL Ia the
early part Of the present century the an
nual production of silver was worth at the
coinage ratio about three times as much as
the annual production OF gOlds whereas,
soon after 1919 the annual production OF
gold became worth about three times as
much at the coinage ratio, as the annual
production of silver, and yet, owing 70
the maintenance Of the blmetalllc stand
ard, the enormous changes In relative pro-
duCtiOn had but a slight erect upon the
relative values OF the metals.
For the Good of All the People.
"If it is asserted by our opponents that
the free coinage or silver is Intended only
for the benefit of the mine owners, il must
be remembered that
The restoration free coinage can not
of silver viii bring benefit the mine
20 the people many owners any more
stimes as much add sLau - "a,
vantage rs the Il mnst also he re-
miners can obtain membered that the
from it. loss which the de
mOuetiZatiOn Of sill
yer has brought TO the mine owners IS
insignificant compared TO the loss which
this policy brought TO the rest OF the peo-
pie.
the people generally many times as much
advantage as the miners can obtain from
IT, While it is not the purpose OF free
coinage to especially aid any particular
class, yet those who believe that the res
tOTation Of silver is needed by the whole
people should not be deferred because an
Incidental benefit will come to the mine
"The erection Of forts, the deepening Of
harbOTs the Improvement or rivers the
erection OF public buildings, az lnese con-
fer incidental dement's upon lndlElduals ana
communities, and yet these incidental bene-
fits do not deter us from making apprOpria-
tiOns for these purposes whenever sucn APP
preparations are necessary Tor the puDilc
good The argument that silver dollar is
heavier than q gold dollar, and that there
fore silver is less convenient 70 carry IN
large quantities is completely answered
bv the silver certificate, which is as easily
carried as the gold certificate or any other
There are some Who, while admitting the
benefits OF bimelallism, object 20 coinage az
the present ratio. III any are deceived by
this objection they ought 10 remember that
Haf "a HlH. = g F7F : =
iu eDdeavoTiug to secure 10 at any other
radio than f6 TO ]. We are opposed TO any
changes of the ratio for two reasons. First,
because a change would produce great in
Justice, and, second, because a change in
Inc ratio is not necessary A change would
prOduce injustice, because II effected, in
The manner usually suggested 10 would re-
suIt in an enormous contraction in the
volume of standard money.
III for instance il was decided by In
foruatfOnal agreement 10 raise the ratio
throughout the world 20 - TO J. the change
might be effected I'm any one Of three ways:
The silver dollar could be doubled tn size
So chat the new silver dollar would weigh
thirty-tw0 times as much as the present
gold dollar. OF the present gold dollar
could be reduced One-haf In weight, so
that the present silver dollar would weigh
thirty-twO times as much as the new gold
dollar. or the change could be made by
increasing the size of the silver dollar ana
decreasing the size or the gold dollar until
the new silver GUliaE MNAsQ weigh AnlFAF-
two times as much as the new gold dollar.
Those who have advised g change in the
ratio have usually suggested that the silver
dollar be doubled III this change were
made It would necessitate the TeeOinage OF
Ss000 600 900 Of silver into 2,o99900,9J1 Of dol
lars.
There viii be an immediate loss Of g.
0l00000 either TO individuals OF TO the
government, but this would be the least OF
the injury. A shrinkage Of Ons-half ih the
silver money OF the world would mean a
shrinkage Of One-fOurth In the total vol
ume OF metallic money. This contraction
by increasing the value Of the dollar would
virtually increase the debts Of the world
tiIiOns Of dollars. and decrease still more
3 value Of the property of The world as
= assured by dollars. Besides this immedi-
a result such a change IN the ratio would
permanently decrease the annual addition
to the worlds supply Of money, because
the annual silver product when coined
into dollars twice as large would make only
half as many dollars.
ssThe people Of the United States would
be injured by a change en- the ratio, not be-
cause they produce silver, but because they