The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-08-13


lism conducted in good faith. or do our
opponents really desire to maintain the
Soiu standard permanently? Are thew
Wiling TO confess the superiority of n
double standard when Joined in by the
leading nations of the world, or do thew
still insist that gold is the only metal
suitable Tor standard money among civil
lzed nations2 IL they are in fact desir-
Gus OF securing bimetallism, we may ex-
pect them TO point out the evils of n gold
standard and defend bimetallism rs n svs-
tenn If, on the other hand, they are
bending their energies toward the ner
manent establishment of gold standard
under cover of declaration in favor of
international bimetallism. I am justified
IN suggesting that honest money cannot
tie expected ut the hands of those who
zeal dishonesty with the American peo-
pie. f9'
:, What is the test of honesty in money!
III must certainly be found in the mr.
chasing power of the dollar. An absolute
honest dollar could not vary in its GER
erai purchasing power; it would be abso-
i"tely stable when measured bv average
prices a dollar which increases in pur-
S",'s inS power Is just as dishonest as a
dollar which decreases in purchasing
power.
IL cannot be successfully claimed that
Recommendations or birnetallism or any
o.hef system gives an absolute standard
y. ,Iiue' onuer both monometallism
ana Dimetallism, the Government fyed
the weight and fineness of the dollar in
vests 1t with legal tender qualities. and
'hen extends the mints to its unlimited
coinage, the purchasing power of the dol
lar 10 he determined by the number of
dollars. Bimetallism is better Than
monometallism not because it gives MS
perfect dollar---that is. a dollar abso.
iuteiy unVarying in its general purchas
ing power'--but it makes il nearer an
pro'ch TO stanll1ty, to honesty, to Justice,
than gold standard possibly can.
Our opponents sometimes admit that
lt.was mistake to demonetize siIver b,,t
insist that we should submit to present
conditions rather than return to the
olmetalhc system They err in supnos-
ing that we have reached the end of the
evll results of gold standards; we have
not reached the end. The injury is n con-
.ihulng one, and no person can say how
long the world is to suffer from the at.
tempt TO make gold the only standard
money.
So long as the scramble for gold con-
tinues, prices must fall, and n general
fall in prices is but another definition NJ
hard times "a
me FARMERS are opposed to the gold
standard, because they have felt ire
eHects. Since they sell at wholesale and
buy at retail they have lost more than
they have gained by falling prices. and
besides this, they have found that Ger
tam hNed charges have not fallen mt all.
IaXes have not been perceptibly in
creased, although it requires more of
iarm products now than formerly-to
secure the money with which to nav
fnl1a
farmer who owed 81 900 is still comnelled
TO paySSl, 00o, although it might be twice
as difficult jas formerly to obtain the dol.
lars with which to pay the debt. The
wage earners have been injured by a gold
standard and have expressed themselves
upon the subject with great emphasis.
& The farmers and wagc-earners together
constitute Il considerable majority of the
people OF the country. Why should
their interests be ignored in considering
financial legislationy \ monetary sys-
TEN which is pecuniarily advantageous
to few syndicates has less to commend
1T than system that would give hone
and encouragement to those who create
the nations wealth. Our opponents have
made Il special appeal to those who hold
fire and life insurance policies but these
policy-holders say that since the total
premiums received exceed the total losses
paul. IL rising standard must be of more
benefit to the companies than to the pol
icy-holders
Much solicitude has been expressed
by our opponents for the depositors in
savings banks They constantly parade
before these depositors the advantages of
gold standard, but these appeals will
be in vain, because savings bank deposi-
tors know that under n gold standard
there is increasing danger that they will
lose their deposits because of the inabil-
lty of the banks to collect their assets;
and they still further know that if the
gold standard is to continue indefinitely
they. may be compelled to withdraw their
deposits in order to pay living expenses.
1t is only necessary to note the ncreas.
ing number of failures in order TO know
that gold standard is ruinous' to mer-
chants and manufacturers. These bust
ness men do not make their profits from
the people from whom they borrow
money, but from the people to whom
they sell their goods. If the people can
not buy retailers cannot sell, and if re-
tailers cannot sell, wholesale merchants
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