The morning times. [volume] (Washington, D.C.) 1895-1897, 1896-08-31
The Difference Between the Systems.

The Difference Between the Systems.
Now, against party which, without daring advocate
standard declares favor its until
relief socaled
which ticket the
emphatic declaration which so
who read We the restoration of the free and
without waiting for the aid any nation the
earth Our opponents have policy the question
history the United gold
good party would dare to say that and then go before
people, twenty years have suffered beneath the
gold standard But what does the Republican say? Why
substitute the principle buetalsm Doesn't that that
bimetai better than gold standard? There can be no
better than god standard that same platform
that until the leading commercial nations shall consent
International must bear the gold standardF10m
Nh: B,yan's Ho,nAs01He Stceeh
The necessity of putting aside party fealty and UNI
patriotic preudces to properly define the political stu
alton becomes and apparent the campaign
progresses. The question for every well meaning cit
zen decide is whether he is unbiased in his
opinion and not influenced by partizan zeal in solving
the financial question. The is too important to be
left to politics for settlement and the consequences of
mistake in casting ballot too grave to depend
such deagogc utterance for guidance the above
quoted. The Republican platform distinctly declares in
favor of present monetary system until the opera
ton of other nations will insure practical bmetalism
and if that is advocating the gold standard and de
carlng for its maintenance then such declaration
not be made. Every prominent American history
including Jefferson, Hamilton Jackson, Clay Webster
Benton Blaine and Others regardless of party aflia
tion has advocated this policy and Mr. Bryan and the
silverite party the first to insist that the United
States shall adopt silver recommendation the place OF
monetary system that circuates god silver and paper
money at parity.
The point to be made clear in this discussion is tn
deception of the sverite leaders in claiming that their
party stands for bimetallism The United States might
enforce blmetasm it possible to all the
nd of he and for dISDO
sition. But that undertaking would involve national
bankruptcy because the of these metals
not be limited. Consequently bimetasm. without the
assistance of other nations is impraccable The open
ing of mints to the Independent and free coinage
of gold and silver at ratio of 16 to l, would mmed
atey destroy the ability of Government keep these
metals at parity Bullion would be coined ndivd-
ua account and the amount of the coinage could
be limited. the public would be obliged to depend upon
commercial and the legal ratio of the metals for
guidance the relative value of the kinds of
This has been demonstrated by every nation that
has tried independent bmetalsm. In every it
has been abandoned failure because the attempt
establish bimetalsm invariably resulted in monomet-
alism This country tried it for eighty years. and
in 1873 minis closed to silver in order to put
in force monetary system that would circulate gold
and silver at legal ratio.
The sound money platform of the Republican party
declares for monetary system that circuates money
legal ratio The silverite platform declares for
tary system that circulates money the commercial
ratio, and that in fact is the difference between the
platforms. The sound money system holds the |
Government directly responsible for the issuance and
redemption of money. The silverite system places
money at the mercy of bullion producers and its
issuance circulation and value depends entirely their
cupidty The sound money system legally designates
the valuable metal (go the standard of value
and is thereby enabled circulate inferior metal
siver) at parity. The silverte system invests the
public with the authority to decide whether gold
silver shall be the standard of value by declaring both
metals legal tender and the result is that the superior
metal becomes commodity, and the inferior metal the
sole circulating medium This is accounted for by
disparity between the commercial legal ratios of
+ hese two metal