Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-08-27


to devise and enact any legislation
necessary for the protection of the
public. It's folly to refuse to the
people the money which they now
need, for fear they may hereafter have
more than they need. I am firmly
convinced that by opening our minis
to free and unlimited coinage at the
preaent ratio we can create demand
for silver which will keep the price of
silver bullion at 81. 20 per ounce meas
ured by gold.
"Some Of our opponents attribute
the fall in the value in silver when
measured by gold to the fact that dur
ing the last quarter OF century the
worlds supply OF silver has increased
more rapidly than the worlds supply
Of gold. This argument is entirely
answered by the fact that during the
last five years the annual production
OF gold has increased more rapidly
than the annual production Of silver.
Since the gold price Of silver has fall
en- more during the last five years
than it ever fell in any previous five
years IN the history Of the world, it is
evident that the fall is not due to in.
creased production. Prices can be
lowered as effectually by decreasing
the demand for an article as by in
creasing the supply Of it, and it seems
certain that the fall IN gold price Of
silver is due to hostile legislation and
not TO natural laws.
BAD EFFECTS ON THE DEBT.
"Our opponents cannot ignore the
fact that gold is now going abroad in
spite Of all Legislation to prevent il
and no silver is being coined to take
it's place. Not only is gold going
abroad now, but it must continue to
go abroad as long as the present finan-
cial policy is adhered to unless we
continue to borrow from across the
ocean and even then we simply post
pone the evil, because the amount
borrowed, together with interest upon
IL, must be repaid in approaching
dealings. The American people now
owe a large sum to European credi-
tors and falling prices have left a
larger and larger margin between our
national income and our national in.
terest charge. Nv
There is only one way to stop the
increasing flow Of gold from our
shores and that is to stop the falling
prices. The restoration of bimetal-
lism will not only stop falling prices
but will, to some extent, restore prices
by reducing the worlds demand for
gold.
IF it isargued that raise in prices
lessons the value Of the dollars which
We pay to our creditors, / reply that,
in the balancing Of equities, Che Am
erlcaD people have as much right to
favor financial system which will
maintain or restore prices as foreign
creditors have to insist upon a finsn-
cial system that will reduce prices.
But the interests Of society are far
superior to the interests of either
debtors Or creditors, and the interests
Of society demand financial system
which will add to the volume Of the
standard money Of the world, and
thus restore stability to prices.
THE FIFTY CENT CHARGE ANSWERED.
perhaps the most persistent mis-
representation that we have to answer
10 the charge that we are ADVOCATING
the payment Of debts in Rl:y cent dol.
lars. AT the present time and under
present laws a silver dollar, when
melted loses nearly half its value, but
that will not be true when we again
establish mint price for silver and
leave NO surplus silver upon the mark
ct to drag down the price of bullion.
Under bimetallism silver bullion will
be worth as much as silver coin, lust
as gold bullion is now worth as mnch
as gold coin, and we believe that a
silver dollar will DO worth as much az
q gold dollar.
"The charge Of reputation comes
with poor grace from those who are
seeking to add to the weight Of exist
ing debts BY Legislation which makes
money desrer, and who conceal their
designs against the general welfare
under the euphoDious pretense that
they are unfolding public credit and
national honor.
In answer to the charge that gold
will go abroad, it must be remember
ed that no gold can leave Tho country
until the owner of the GOLD receives
something in return for Il which he
would rather have, In other words,
when gold leaves the country, those
who formerly owned it will be benefit
cd. There IS no process by which we
can be compelled to part with our
gold against our will nor sthera any