Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-08-20

his product and his labor measured by the
same standard OF the world that measures
your national debe There havo been a greaG
many battles fought ng int gold, but gold has
won every time Gold never has compromised.
Gold has made the world respect it al tho
time. The English people once thought they
could get alO without gold for a while, but
thoy had to come back to It,
"On juno 1. 1874 Senators Jones and Stewart
and all th' representatives and senators OF thu
silver states we'9 urgent and honest in saying
that sol was the best and only standard OF
value, but they changed their, minds when the
largely in 're sed and inc reasing production OF
silver in Nevada and other states reduced the
market valuo Of liver below that OF gold at the
| est abli he'd ratio of sixteen to ono. Then they
wanted market for their silver. fhoV wanted
| to pay existing debts aud obligations con-
| tracted upon gold basis 10 silver but took
care in their contracts to stipulate for the pay
mont of gold in them, and this has been and is
nov tho general practice in tho silver states
"During this period silver rapidly, fell in
market value below gold at the ratio Of sixteen
| to /. Prior and subsequent to 1879 many
changes were made In coinage BY the leading
Countries OF tho world Germany In 1871
changed its standard from silver to gold
France Italy, Switzerland and Belgium lad in
ion to which Others became parties and By
which the coins OF each Of these countriSI are
received and paid By all OF them. This inn
portanG arrangement was first modified add
finally abandoned and gold became the stand
ard OF values Of these countries but in all, sill
YER was coin and largely used as a subsidiary
coin p ocis'ly as in the United Statea
Mr.. Sherman here sketched at con-
siderable length the history of tho
Bland Allison act Of 1876 and the
Sherman purchase act and its repeal
Referring to the bimetsllic declara-
ton in the repeating act declaring it
to be the policy OF the United States
to always maintain the parity OF gold
and silver, he said:
This dec aratioa, made by Congress and APP
proved by the president at a time when toe
public mind was entered upon tho silver Quas-
ton, is a wise statem1 mt OF public policy that
ought to be acted upon without regard to par
ty divisions. This bill passed House OF Rep
resentatives fresh from the people by Vot, of
2SJ yeaI a I'd lls nays and the Senat, b. the
vote OF % yeas ag inst 50 nays. This act was
not party vote but it IL, believe, the ex-
preston of opinion OF a majority of the two
great parties of the country.
And here fellow citizens, we ought to stand
Iappeal to Democrats and Republicans alike.
We are all Interested in having a sOunl and
stable currency founded upon gold and silver.
We cannot by law fix the value o either metal
or coin or OF any Of the articles that enter into
the Its of life
"WP lad July l. last, In a,tual circulation
among the people Of the United states, $780,
Ri,?", as stated by tho report OF the treasury
depart mont We had also at that date I8I,-
In, Kbn a
held for redemption OF United States notes and
silver certihcl tes All these forms Of money
have boon maintained by thu government at
par with gold and they travel the cirolo Of the
world without diminution of their purchasing
power Though silver bullion has fallen to
nearly one half ~ former value yet we have
used it an maintained silver coins made from
It at parity with gold at the ratio of 16toi.
But now we are brought face to face with a
proposition WHICH il Il gree | 10, will make sill
yer tho sole standard Of value for all bis and
credits, %: the wages Of | Dor and tn, pur-
chase and sale of property II the fres coinage
of silver is authorized thon tho mar cot va ne
Of silver bullion becomes tn s andard I IT pay
mo ITS on | contracts made in the past, the
present til, future aud 4l2M grains of
STANDARD silver billion, worth now =. cents
can, witt frse coinage, be coined into dollar
upon tho demand of any holder Of such llion.
The government does not undertake to
ma '1tain its relative value tn COLL. TS3
government stamps it This is a dollar Its
purch sing power is fifty three cents but its
debt paying power is one dollar of debt II 1t
the doctrine of tho opulist and Anarchist,
but it is in direct opposition to the traditional
policy of LETTERS IN, Andrew Jackson aud tho
Democratic party
ut 8 sometimes said of creditors that they
are blood thirsty Shylocks, aristocrais, blood
suckers, eXtortioners. IL may be that there
are among money lenders some m IN who merit
epithets, but the grelt body of the creditors of
our country arc among the thrifty, Industrious
and intelligent men and women OF every COM
munity
Zone great body of creditors here Is the 970-
0)O UnioP soldiers, their widows and orphans,
who are creditors Of the United States to tho
amount of over 81 00)l,JOJ a year for s2rVi, es
ami sacrifices In thu Union army 1t would DO
an act of perhdy and meanness beyond express
sion for this great country to pay them with
money Of less purchas ng power tn n gold roin,
merely because the oVerpro1uction of silver in
the United States has re uced the market value
Of silver bullion contained Ia a silver dollar.
To tako advantage OF this decline in order to
reduce the value OF the pittanco to those pen.
sioners is worse than to rob the graves OF the
dead
by far the greatest injury resulting from
the fee coinage OF silver will fall upon the
workingmen Their wages are now based upon
none OF the highest value, upon gold coin of
standard value Under FREQ coinage Of silver
the value OF tho silver dollar will fall to fifty
three cents In gold, or as l have already said.
the 100 cents of the gold dollar will be worth
1884, cents Of tho silver doll ar With froe COIN
age of silver every working man can ard ought
10 demand enough silver for his daily wages to
DO equal to the purchasing power of his pres
emit wages in gold The struggle between
workingmen and employer will then commence
AMI no one knows better than the workingman
how difficult it is to get an advance of pay We
have strikes and strifas enough now, when the
working man gets his pay in gold coin, or its
equivalent but what will be the condition
when he is paid in cheaper money OF the same
nominal amount but of less purchasing powcr1
Every sentim mt Of Justice will be on tho side
Of the workingman Ia his struggle for good
money or increased wages in cheap money.
OF all the evils which q government can in
hlct none can DO greater than cheap mon,y,
whether OF coin or PAGER That dollar is the
best dollar that buys the largest quantity of
food and clothing. That dollar is the gold
dollar. for it buys mors food and clothing than
any other dollar and will also buy silver dol
lar for fifty-three cents il the coinage Of silver
Is de free at the ratio Of Il to 1 of gold
Experience has shown that the Ugited
States car mako the silver do"-r buy as much
rs the gold dollar, but it can only b, done by
the goyernmr 1t buying silver bullion as needed
and coming into dollars on government ac-
count This has been tried.
This matter Of tn, free coinage Of silver and
the degradation Of tho standard Of value in