The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-08-21

gold ana silver az the ratio Of 15ih TO i. and
/ Islalls n circulation more silver per capita
tnal We 90 In the United States
/ II may be further answered that cur
/ opponents have suggested no feasible plan
/ I0r avoiding the dangers which they fear.
! Ihe retirement Of the greenbacks and treas
because t1e same policy which noW leads
/ -ue secretary OF Treasury TO redeem al
/ government paper IN sold, when gold Is
4eMa1ueCf VIII require the redemption OF
/ al silver dollars and silver certificates in
/ 8olds IL the greenbacks and Treasury notes
/ are Withdrawn rom circulation. n ne than
| tnlss II the government should retire us
/ paper and throw upon the banks the neces-
I SKY OF furnishing coin redemption, the
/ DanAs would exercise the right % furnish
/ eltheE gold OF silver, In other words they
/ would exercise the option just 0s the gov
| eminent ought to exercise il now. The gov
/ eminent must either exercise the right 10
! redeem It's Obliga tons in silver, when silver
/ Is more convenient, OF IL must retire all the
/ SILVER ana silver certificates from clrcula-
! uen ana leave nothing but gold as legal
! tender money. Are cur opponents willing
/ 70 outline q financial system which VIII car
] ~ oul thelt precepts 90 legitimate c0hclg-
sion. or viii they continue to cloak their
designs IN ambiguous phFases2
/ . Ihere Is an actual necessity Tor blmetel-
/ during the last tWenty-lhree years leglsla-
I uOA mas been creating an additional 0e-
| mand for gold and this iaW-created demand
I mas resulted In Increasing the purchasing
/
/ ton OF bimetallism in the United states
| VIII take away from gold lust SO mucn on
/ us purchasing power as was added 70 IL Dy
! the demonstration Of silver by the United
/ states. The silver dollar is now held up
| TO the gold dollar by legal tender laws ana
/ not by redemption in gold, because the
] standard silver dollars are not now re-
/ deemable, IN gold either by law or by al
! I'VE contend that free and unlimited
| coinage by the United States alone VIII
! raise the bullion value Of silver TO It's
I coinage value and thus make silver bullion
/ worth Sl29 per ounce in gold throughout
l the world. This proposition is in keeping
/ with natural laws not TN defiance or them.
/ The best known law Of commerce Is the
| law OF supply and demand. We fecoSnl1e
/ this law and build our argument upon II.
/ We apply this law to money when we say a
/ reduction IN the volume OF money VIII raise
! the purchasing power OF the dollar We
/ also apply the law Of supply ana demand
| to silver when we say that new demand
| for silver, created by law, viii raise the
/ price OF silver bullion.
Why Gold and silver Are Money.
Gold and silver are different from other
! commodities in that they are limited IN
/ quantity, Corn, wheat, manufactured pro
ducts, etc. can be
1t is folly to re- produced almost Je
fuse 10 the people ;a3 tba il-iii can he
/ the money "Aleh sold at a price sut-
they now need for fcient to stimulate
! fear they may production, but gold
hereafter have and silver are called
more than they precious m metals USs
need. fcTTS moi pryo5ucel
These metals have
been the objects Of anxious search as far
back as history runs, yet, according to Mr..
HaTyey's calculation, all the gold coin Of
! the world can be melted into a twenty-five
loot cubes and all the silver coin in the
/ world into a siXty-siX foot cube. Because
| quantity now in hand and in actual pro-
| ductlOn, II follows that the legislation can
| Xix the ratio between them. Any purchaser
/ who stands ready to take the entire supply
! or any given article at certain price can
| prevent that article from falling below
| that price. SO the government can fN d
price for gold and silver by creating de-
! mand greater than the supply.
! international bimetalEsts believe that
several nations, by entering into an agree
! me9L 10 coin at liked ratio all the g0lu
[ and silver presented, can maintain the
( bullion value Of the metals at the mint ratio,
/ When 2 mint price is this esIabi-s shed IL
regulates the bullion price, because any per-
son desiring CON may have the bullion con-
verted into coin at that price, and any
person desiring bullion can secure it by
I melting the coin. The question upon which
! International bimetallists and Independent
bimetall.sts differ is; Can the United States
by the free and unlimited coinage Of silver
at the present legal ratio create a demand
fer Silver, sFil-eli,-talICH T. GCRaeot.0E Fith
the demand already iH existence, viii be
sufficient to utilize all the silver that VIII
be presented at the minis,
Oppose the Gold Standard.
"They agree in their defense Of bimetaIlic
principle and they agree in unalterable OPP
position to the gold standard. International
bimetallists can not complain that free
/ coinage gives a benefit to the mine-OWner,
| because International bimetalllsm gives to
/ the owner of silver all the advantages Of
fered by independent bimetaliism at the
| ratio. International Dimetallists can not &C
cuse the advocates Of free silver Of being
bullion owners who desire to raise the value
/ Of their bullion OF debtors who desire to
pay their debts in cheap dollars or
'demagogues who desire TO curry favor
"They must rest their opposition upon one
ground only namely, that the supply Of sill
yer available for coinage is too large to be
utilized by the United States
In discussing this question We must
consider the capacity Of our people to use
| silver and the quantity of silver which can
come to our mints. II must be remembered
that we live in a country only partially de-
velOped and that our people far surpass
any equal number Of people in the world in
their power TO consume and produce.
| Our extensive railroad development and
enormous internal commerce must also be
taken into consideration,
Now, how much silver can come here?
Not the coined silver OF the world because
almost all of it is more valuable at this
l time IN OtneE ldiiuS tudu IL would De at our
minis under free coinage. If our minis
are opened to free and unlimited coinage
at the present ratio. merchandise silver
can not come here because the labor ap-
piled to it has made it worth more IN the
form OF merchandise than 1t Will be worth
at our mlnts, We can not even expect all
of the annual product Of silver because
india China, Japan and Mexico and all the
other silver using countries must satisfy
their annual needs from the annual pro-
ducts, the arts viii require a large amount
and the gold standard countries viii need
! considerable quantity for subsidiary coin
age. We viii be required to coin only that
which is not needed elsewhere; but if we
stand ready to take and utilize all of it,
other nations will be compelled to buy at
the price which we fix.
"Many fear that the opening Of our mints
viii be followed by the enormous increase in
the annual production of silver This is
conjecture. Silver has been used as money
Tor thousands or years, ana during all Of
that time the world has never suffered from
an 0veT-pTGduction.
People Need Money.
eff for any reason the supply Of gold or
silver in the future ever exceeds The re-
/ Quirements OF the arts and the needs OF
commerce We confidently hope that the in
telligence Of the people VIII be sufficient to
devise and enact any legislation necessary
Tor the protection Of the public. 1t is
folly 90 refuse TO the people the money
which they now need, for fear they NAV
hereafter have more than they need I
am firmly convinced that by opening our
minis 10 free and unlimited coinage at the
present ratio, we can create a demand for
silver which viii keep the price Of silver
bullion al Sl.29 per ounce measured by Pod.
Some Of our opponents attributed the ran
! In the value OF silver. when measured bv
gold, to the fact that during the last quar-
! ter Of q century the worlds Supply OF siI-
/ yer has increased more rapidly that the
worlds supply of gold. This argument is
entirely answered By the fact that during
the last i've years, the annual producfio5
Of gold has increased more rapidly thaD
the annual production Of silver.
since the gold price OF silver has fallen
more during the last I'VE years that Ct ever
! tory Of the world, it Is evident that the fam
is not due to increased production Prices
can be lowered as effectually BIZ decreasing
| the demand for an article as Dy increasing
7 fT4a usrrr1v If and z a1ar--1 1000 49,