The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-12

These dollars in the particulars ! have
| named are not the same as the collars
which would be issued under free eoinaee.
They would be the same in form. but ott-
ferent In value. The government would
have no part In the transaction except 10
coin the silver bullion into dollars II
1 would share In no part OF the proht. IL
| would take upOn itself no obligation. *
would not put the dollars into circulation.
| II COald only get them as any citizen would
get them. by giving something Tor theih'
| IL would deliver them 20 those VINO ue
posted the silver and its connection with
the transaction there end. Such are the
silver dollars which would be issued under
free coinage Of silver az u ratio o. 10 TO l.
Who Would Maintain Pa-Isy.
who would then maintain the parity ,
4 What would keep them al par *:t soid /.
/ There would be no obligation rest,"g upon
| the government 10 dc II. and u there We're
/ Il would be pOwerless 20 do IL. Tho simple
/ truth is we would be driven TO silver
b9ss-.c silver recommendation. TasSe dol
lars, therefore, would stand upon ihelr
real value. l. the free and unlimited COIN.
| age CT silver at ratio OF 10 ounces Oh
| silver 10 l ounce Of gold would. as some
! OF It's advocates assert. make % cents IN
/ silver worth 100 cents and the silver dollar
/ equal TO the gold dollar. then we would
/ have no cheaper money than new. ana II
would be no easier % get. But thst sueh
would be the result Is against reason ana
is coniradic,ed by experience in all times
and In all lands. IL means the debasement
| OF our currency 70 the amount OF the dlt-
ference between the commercial and coin
value OF the silver dollar which Is ever
changing and the effect would be 10 reduce
property values, entail untold nnancial
loss, destroy confidence. impair the obliga-
lions OF existing contracts, further impoV-
erish the laborers and producers OF the
! country, create a panic OF unparalleled
severity and infict upon trade and com
merce deadly blow. Against any such
policy am unalterably opposed.
Gold Driven out of Mexico.
"Bimetallism cannot be secured by In
dependent action on our part II cannot
be obtained by opening our minis 10 the
unlimited coinage Of the silver of the
world at a ratio Of l6 ounces OF silver 10
ounce of gold when the commercial ratio
is more than 30 ounces OF silver TO | ounce
Of gold. Mexico and China have tried the
experiment. Mexico has free coinage OF
silver and gold at ratio slightly in ex-
cess OF l6i9 ounces of silver 10 l ounce OF
gold, and while her minis are freely open
70 both metals at that ratio. not single
dollar in gold bullion is coined and cir
culated as money. Gold has been driven
out OF circulation in these countries and
they are on a silver basis alone. Until
International agreement is had, 1t is the
plain duty Of the United States TO main
tain the gold standard. II is the recog-
nized and sole standard of the great COM
mereial nations of the world with which
we trade more largely than any other.
Eighty-four per cent. Of our foreign trade
for the fiscal year 1895 was with gold
standard countries. and our trade with
other countries was settled on a gold basis.
More silver Than Gold.
Chiefly by means Of legislation during
and since 1873. there has been put In
circulation more than 1924. 900 900 OF sill
yer or its representative. This has been
done In the honest effort TO give TO silver.
II possible the same bullion and coinage
value and encourage the concurrent use OF
both gold and silver as money. Prior to
that time. there had been less than 9,O00.-
600 OF silver dollars coined In the entire
history of the United States, a period Of
eighty-nine years. This legislation secures
the largest use OF silver consistent with
financial safety and the pledge to main
tain its parity with gold. We have to-
day more silver than gold. This has been
accomplished at times with grave peril TO
the public credit. The so-called sherman
Law sought 10 use all the silver product
OF the United States for money at its mar
ket value. From 1890 20 1885, the gov
eminent purchased 1900. 900 ounces of sill
yer a month, or % 600 coo ounces a year.
This was one-third the product OF the
world. and practically all OF this country's
product 1t was believed by those who
then and now favor free coinage that such
use OF silver would advance its bullion
value TO its coinage value but this ex
pectation was not realized. In a few
months, Notwithstanding the unprecedent
ed market for the silver product In the !
United States, the price OF silver went
down very rapidly. reaching a point lower
than ever before. Then, upon the recon- |
mendation OF President Cleveland, both |
political parties united in the repeal Of
the purchasing clause OF the Sherman law
We cannot with safety engage in further
experiments in this direction.
ION the second OF August, 1891, in a
public address, / said: II we could have
an international ratio which all the lead !
ing nations OF the world would adopt and
the true relation be fixed between the two
metals and all agree upon the quantity |
OF silver which should constitute a dollar |
then silver would be as free and unlim- |
tied in its privileges Of coinage as gold rs |
o-day. But that we have not been able !
TO secure, and with the free and unlimited |
of silver adopted IN the United !
States at the present ratio. We would be
still further removed from any interna- |
tional agreement. We may never be able |
TO secure IL II we enter upon the isolated |
coinage OF silver. The double standard /
implies equality at a ratio and that equal |
ity can only be established by the concur !
rent law OF nations. II was the concurrent |
law Of nations that made the double stand |
ard; 1t will require the concurrent law |
Of nations 10 reinstate and sustain It,
Party TnvorS use of silver Money.
"The Republican party has not been and |
Is not opposed 20 the use Of silver money |
as its record abundantly shows. II has /
done all that could be done for its in |
creased use with safety and honor by the |
United States acting apart from ether gov |
ernments There are those who think that |
L has already gone beyond the limit OF |
lnanc.al prudence. Surely we can go no |
further, and we must not permit false |
lights to lure us across the danger line.
Agreement.
1--WE have much more silver IN use than
NY country in the world except India or
,000, 900 more than Great Brit
lin; $3.50, 900 600 more than France; s400-
100 900 more than Germany; 1926, 900 600
ess than India and Sl25, 900 less than
china. The Republican party has declared
n favor Of an international agreement, and.
Z elected president, IL will be my duty to
employ all proper means 10 promote H.
The free coinage of silver in this country
would defer II not defeat International BIZ