Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-08-22

or international-and the gold standard there
is an impossible gulf. Is this quadrennial
agitation in favor of international bimetallism
conducted in good faith or do our opponents
really desire to maintain the gold standard
permanently. Are they willing to confess the
superiority of double standard. when Joined
by the leading nations of the world. or do
they still insist that gold is the only metal
suitable for standard money among civilized
nations? If they are In fact, DESTROYS of Sc
curing bimetallism We may expect them to
point out the evils OF gold standard and de-
fend bimetallism system IT, on the other
hand. they bending their energies toward
the permanent establishments of a gold stand
ard under cover of a declaration in favor of in
ternational biuetaliism, am justified in sug-
costing that honest money cannot be expected
at the hands of those who deal dishonesty
with the American people
The Advantages of Bimetallism.
BimetaIlism is better than recommendation,
not because it gives perfect dollar-that
is. a dollar absolutely unvarying in it's general
purchasing power-but because it makes
nearer approach to stability, to honesty, to jus
tice. than gold standard possibly can Prior
to 1873, when there we're enough open m1ntS to
permit all the gold and silver available for COIN
age to find entrance into the worlds volume
of standard money, the United States might
have maintained a gold standard with less in
jury to the people of the country: but now.
when each step toward a universal gold stand
ard enhances the purchasing power of gold.
depresses prices and transfers to the pockets
OF the creditor class an unearned increment,
the influence of this great nation must not be
thrown upon the side of go unless pre-
pared to accept the natural and legitimate
consequences of such act
Any legislation which lessons the worlds
stock OF standard money increases the
changeable value OF the dollar. Therefore, the
crusad3 against silver must inevitably raise
the purchasing power of money and lower the
money value of all other forms of money. Our
opponents sometimes admit that it was a mis-
take to demonetize silver, but insist that
should submit to present conditions rather than
return to the bimetallic system They err in
supposing that we have reached the end OF
the evil results of gold standard: We
have not reached the end The injury
is a continuing one, and person say how
long the world is to suffer from the attempt to
make gold the only standard money. The
same influences which are now operating to
destroy silver in the United States will. if sue
cessful here. be turned against other silver
using countries, and each new convert to the
gold standard will add to the general distress.
So long the scramble for gold continues,
prices must fall, and general fall in prices is
but another definition of hard times
Gold Standard Ruinous to Traders.
Our opponents have made special appeal to
those who hold fire and life insurance policies,
but these same policy holders know that, since
the total premiums received exceed the total
losses paid. rising standard must be OF more
benefit to the company than to the policy
holders Much soiicitude has been expressed
by our opponents for the depositors of saw
ings banks They constantly parade be-
fore these depositors the advantages of
gold standard, but these appeals will
be in vain, because savings banks depositors
know that under a gold standard there is
increasing danger that they will lose their
deposits because of the inability 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 with
draw their deposits in order to pay living
penses- 1t is only necessary to note the in
creasing number of failures in order to know
that gold standard is ruinouS to merchants
make their profits from the people from whom
they borrow money, but from the people to
whom they sell their goods If the people
cannot buy, retailers cannot sell. and if retail
cannot sell, wholesale merchants and
manufacturers must go into bankruptcy.
Free Coinage No New Experiment..
AS against the maintenance of a gold stand
ard, either permanently or until other nations
be united for its overthrow, the Chicago
platform presents a clear and emphatic de-
mand for the immediate restoration of the
free and unlimited coinage of silver and gold
at the present legal ratio of sixteen to
without waiting for the aid consent of any
other nation. We are not asking that
experiment be tried; We are insisting up
on return to financial policy APP
proved by the n experience o sS OF history
statesmen of nation from the days of
the first president down to 1873. When we ask
that our mints be opened to the free and un-
limited coinage of silver into full legal tender
money, simply asking that the same
mint privileges be accorded to silver that are
now accorded to gold When ask that this
coinage be at the ratio of sixteen to one, we
simply ask that our gold coins and the stand
ard silver dollar which, be it remembered, con-
tains the same amount of pure silver as the
first silver dollar coined at mints, retain
their present weight and fneness.
The Necessity for Bimetal1ism.
There is an actual necessity for bimeta1lism
as we'll as theoretical defense of it During
the last 23 years legislation has been creating
an additional demand for gold, and this law
created demand has resulted in Increasing the
purchasing power of each ounce OF gold The
restoration OF bimetallism in the United
States will take away from gold
much of its purchasing power
added to it by the demonstration of silver by
the United States The silver dollar is
held up to the gold dollar by legal tender laws
and not by redemption in gold, because the
standard silver dollars not now redeem
able in gold, either by law or administrative
power.
We contend that free and unlimited coinage
by the United States alone will raise the bull
lion value of silver to its coinage value and
thus make silver bullion worth 81. 20 per ounce
in gold throughout the world This PROPOSE
tion is in keeping with natural laws not in de-
merce is the law of supply and demand. We
recognize this law and build our argument
upon it. We apply this law to money when
say reduction in the volume of money will
raise the purchasing power of the dollar:
also apply the law of supply and demand to
yer created by law will raise the price of silver
bullion
The question upon which international BIZ
metalliSts and independent bimetallists differ
is Can the United States. by the free and
unlimited coinage of silver at the present legal
in connection with the demand already in
istence. will be sufficient utilize all the sill
that will be presented at the minis? They
agree in their defense of the bimerallic princi-