The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19

4 based upon the commercial value OF the
| two metals. This was the v ew OF both JEFF
ferson and Hamilton, who differed widely
on other subjects. This has been the view
Of wise men, democrats and republicans.
| from the beginning OF the government I'M
| I'll now. IA voice: We'll. We are wise dem
| ocrats,' and laughfer.l THIS would seem
TO Indicate II. lCheers.l
As TO the Ratio of Coinage.
"There are those who think there Is some
thing sacred about the ratio Of sixteen 10
one because the fathers established a.:
but the fathers did not establish 1t. They
| established the ratio OF fifteen ounces OF
silver to one ounce OF gold. and those who
| established that ratio made IL upon the
commercial ratio between gold and silver.
and they seemed not TO have been infiu-
enced by the fact hat In ltg2 the CONNER
cial and coinage ratio was ten and three
quarter ounces OF silver TO one ounce OF
gold. 10 was not until 1894 that the United
States adopted the ratio Of sixteen 10 one.
And WHY was Il done? Because that was
believed TO be the real relative value. or
nearly so. between the two metals at that
time. and they seemed not 10 have been
influenced by the earlier ratio OF fifteen 20
one, but determined the ratio upon the then
values OF the two metals In the markets OF
the world. lCries OF That's right
Mr. Jefferson favored the use 81 both
gold and silver. and yet while he was presi-
tion and without the authority OF con-
gress. he ordered the minis 20 discontinue
the coinage OF silver dollars Why Gid he
do III Because he believed that he could
keep gold In the country and make u c.--
culate az the ratio Of fifteen 10 one by sus-
pending the coinage OF the silver dollar.
lie thought that II no silver was coined
the gold although more valuable, would
flow into the channels OF trade. The fact
was, that gold did not, Notwithstanding
the suspension OF the coinage OF the silver
dollar.
There were no silver dollars coined in
the United States from 1906 TO 1884 Then
congress changed the ratio between the
two metals from fifteen ounces OF silver 10
one ounce OF gold 10 sixteen ounces or silver
to an ounce OF gold, and our whole history
has demonstrated that whenever under any
ratio the one metal was morS valuable than
the other the more valuable went out OF
circulation and the less valuable remained
In fCries OF That's right = The cheaper
metal drove the better metal out. lCrles or
That's right, tool
Irreyersibie Law of Trade.
THAT Is the lrreyersib.e law OF trade.
That IL the unvarying Law o. business, and
Il IS an indlsputable fact that where you
have two standards, the one less valuable
than tile other, the most 5aluable goes out;
and Il we had free coinage at sixteen 10
one. while the commercial value or silver
IN its relation 10 gold is thtrty-two Z, one.
gold would 20 out and silver would be the
only money with which W. would do our
business--for lOO-cent dollar VIII not keep
company with a 52-cent dollar. lTremen-
dous cheering and cries OF 'Hurrah for Me-
Kinley.J And. instead OF our having more
money, we would have less money with
which to transact The business Of the coun-
try tGreat applause and cries OF That's
right'l So that we would secure ~ this
Mexican system great larghterl poor
dollar and less circulation. lGreat APP
plausel That we do not want and that
we do no. mean TO have. fRenewed ap-
plause and cries OF We won't have IL j
I'm 1873. when the free coinage OF silver
was stopped, wo were not using either gold
or silver az money. We were using aper.
We did not use dollar OF silver then We
now have 5d0,000,GQO. OF which $l3,00000O
are fun legal tender standard silver doll
lars. ard behind every one OF them Is the
government OF the United States. Iireat
cheering.l The lack OF silver surely could
not have deprecated prices since 1873 for
we have co times more OF Il now than we
had then,
The depression IN the price OF wheat.
Rbout which mucn Is now said must be nc-
counted for IN some other way. The chief
OF the United states bureau OF statistics
states tina. the consumption OF wheat per
capita IN 1895 was 20 per cent less than In
1892. 10 you not think THAI .hls might be
more reasonable accounting for some OF
the depreciation n the price OF wheat than
10 charge e 10 the monetary legislation OF
% years ago2 lCrtes OF Yes, yes Ii
was the decrease OF consumption and the
increase OF competition-ncf the suspen-
sion OF the free coinage o. siiver-that ac-
counts In part for ,ne low price OF wheat to-
day.
Plain Duty OF Patriotism.
1--WE cannot make prices but we car pro-
vide that all prices shall be- paid IN full dol
lars. worth 100 cents lCries OF That's right
and great cheeriaG.l we cannot reverse
the laws OF common honesty. TGreat ap-
plause.l our interests In the United States
are mutual and interdependent. and II Is
the plain duty OF patriotism TO protect all
OF them from undue competition abroad
and from ruinous financial schemes at
home lGreat Rpplause.l That Is our busi-
ness this year, gentlemen, and what viii
your ballot IN November bs2 lCries OF We
VIII cast our ballots for Mckinley and pro-
lection. and cheeringl
My fellow citizens. 1 -annot ovcrstato
my feelings or gratitude and thankfuincss
for the honor OF this call You cannot.
am SURE. appreciate yourselves what Il
means 10 have a thousand democratic COM
mercial men, who have al. their lives been
democrats, 10 come TO the home OF tho
republican candidate for president and
pledge 10 him their earnest support. Tire
mendous cheering and cries or 'IouIl have
Il. maJor.l l thank you from the bottom "
my heart, and, believe me u will give me
sincere pleasure o meet and greet each one
OF you personally Tremendous cheer
ing.l
Where bryan stands.