The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-10-10

ance of notes as money by nationa
banks us in dcrogation of the conStitu
ton, and we demand that all pape
which is made legal tender for pubii
and private debts, or which is received
for dues to the United States. shall b.
issued by the government of the United
/ States, and shall be redeemable II
COIN"
These are plain, simple words, easil,
, understood by any one. They declare
certain great principles and pollcle
without evasion, quibbling or strad
ding; mean What they say and say
what they mean. They are direct,
opposite to the republican state anl
national platforms. They mean anf
declare for true bimetallism-the gol6
and silver coinage of u constitution
and the use of standard silver dollar!
equally with gold, without discrimina'
ton and without the surrender OF the
governments option to the holders o
its obligations.
We have tried this existing gold
standard, and know it is n failure
Why shall we not try this bimetalliC
systemP
N OBJECTION ANSWERED..
What are the objections to it gen.
orally urged by gold advocates? They
say that the restoration of the free and
unlimited coinage of silver dollars
equally with gold at the ratio of 10 to
l by our own laws, independently OF
other nations, will drive all the gold
out of our country and out of circula-
ton, contract the money of the country
by that amount and force us to a single
silver standard. This is the same old
s~tereotyped prediction, fear, dread,
mere assertion, which we have been
hearing ever since 1873, and has been
constantly urged against any coinage
of silver dollars and to stop the further
coinage. 1t was so predicted when
the Bland-Allison law was passed in
1873, and was urged to stop the coin
age under that law. 1t has been tested
fully and its falsity is clearly shown by
the record of the past IS years. In
January, 1873, we had no silver dollars
and no gold coin was in circulation as
money, except on the Pacific coast,
estimated ut 20 millions, and very little
in the country. IN January, 1879
not one year after beginning the COM
age of silver dollars-we had 234 ,O0O,-
900 million of gold, and now by
treasury circular 123, We had over 430
millions of standard silver dollars and
over 5000, 000, 900 of gold on July 1,
1896; an increase in our gold of nearly
80 per cent for every silver dollar
coined. This is not a prediction, but
an incontrovertible fact, proved by the
record of Is years past.
But, for arguments sake, suppose
all our gold should be driven out of our
country. 1t could not be driven out OF
circulation as money for it is not so
circulating, but only out of h vaults
and reserves of moneyed institutions.
If our moneyed institutions in their
desperation to destroy silver and pre-
vent the successfuls ce- establishment of
our constitutional bimetallic system of
gold and silver, should withdraw their
reserves of gold and send it abroad,
then they would still by law be com
PEELED to keep a coined money reserve,
a full legal tender in all payments and
redemptIons, and the only such coined
money would be standard silver dollars.
These silver dollars they, whether will
lingly or unwIllingly, would be COM
ptiltd ~ , as tAACAA - oAb NASAA
gold could only be withdrawn as they
could supply its place with silver
dollars. This would create a heavy
demand for silver dollars and their gold,
as exported to Europe, would increase
the quantity there, lessen the demand
for il, decrease its price or market
value, for it would only be bullion
there, and the result would inevitably
be an approximation in the value of the
two metals and an equality in value OF
the two metals.
Again, if the gold should be so
exported, what would we lose? Most
certainly, nothing. Because the owners
of 1t would not give it away. They
would only part with it in exchange for
something-bonds, securities of our
government or railroads or corpora
tons; something they considered of
more value than their gold, and that
something we would still have.
ANOTHER REPUBLICAN ASSERTION.
Again, the gold advocates predict,
fear and assert that the restoration of
bimetallism would stop the investments
of foreign capital in our country, and
cause all our bonds, securities, ETC.,
held abroad to be returned here. Are
we to so legIstate as 10 prevent an in
crease of our W money, necessary TO
develop our own resources; to build
our railroads, manufactures, and other
improvements, and thereby induce for
eign capital to come here and do so,
and forever thereafter suck and draw
from our country in interest and profits,
money, the life blood of our peoples
and b%usinessp
In the name of our American ooun-
try and people, l ask, what greater
blessing could be bestowed upon us
than the giving to our people by our
laws a sufficient amount of honest,
sound, irredeemable gold and standard
silver coins, the money of our constitu-
ton, to enable them to develop oil our
and own all u debt obliga-
tons, national, state, municipal and
corporate; receive the interest thereon
and enjoy perfect financial Indepen-
dence of all gold syndicates, nations
and powers on earth. May God speed
the blessing!
Suppose our bonds and obligations
are returned here. Will the holders
give them to usP Certainly not. All
they could do would be TO sell them to
us, at such prices as we would be will
ing to pay, and no harm could come to
us.
Again, gold advocates fear, assert,
predict that with free coinage of silver
dollars equally with gold we would be
literally deluged with silver. This Is
their main argument, based solely on
prediction, and is without any founda-
lion in facts, figures or history.
Where is the silver of the world? 1t
| is ali either In manufactures, ornaments,
etc., or in bullion or in coined money
or in the earth, yet to be found and
mined. We all know that the manu-
facturers of which silver Is n part and
mixed with other metals generally
would be destroyed, made useless by its
extraction, and are of more value than
| the SILVER in them would be after pay
ing the cost of extrqotiqn 8nd refining.
Hence it would not deluge US. Search
the world over and You cannot find
over 90, OOO, 900 to 20 900 900 OF silver
bullion stored anywhere, outside of
treasury vaults. There can be no del
noe. The SILVER in coined money of he