The Canton times. (Canton, Miss.) 1893-1906, 1896-08-21

rights Of others. but because the circum-
atances which surround them blind them
to the effect of the gold standard upon
language Of two gentlemen whose long
public service and high. standing In the
party to which they belong WIN protect
ponents. In 1889 Senator Sherman SAID
II must be admitted. however, that some
bankers combine the business Of a bond
broker with the ordinary banking business
and these may make enough In the negotia-
ton OF loans to Offset the losses arising In
legitimate banking business. As long as
human nature remainS as 1t is, there will
always Be danger that. unless restrained
by the public opinion or legal enactment,
those who see pecuniary profit Tor them
selves in certain. condition may yield to
the temptation to bring about that condi-
ton. Jefferson has stated that one OF the
main duties OF government Is to prevent
men from injuring one another, and never
was that duty more important than i Is
to-day. 1t Is not strange that those who
have made profit by furnishing gold to
the government In the hour Of its extremi-
tx favor anciaa podicy wn ,non W shem Keep
believe, however, that / speak the senti-
ment OF the vast majority Of the people OF
the United States when | say that wise
financial policy administered in behalf of
all the people would make our government
independent of any combination of tnan-
ciers, foreign or domestic.
What sherman Said.
'eThe contraction of the currency 10 q far
suppose. Our own and other nations have
Is not possible to take that voyage without
cept Capitalist out Of debt. OF a salaried
officer or annuitnnt. 1t is q period of loss,
danger. lassitudc of trade. fall Of wages,
disaster. 1t means ruin to all dealers whose
debts are twice their business capital,
though one-third less than their actual
tural production without any great reduce
ton OF taxes. What prudent man would
care to build house, a railroad, a factory
or a barn with this certain fact before
Mr.. Bryan continued: As have said
before, the salaried officer referred to must
De not mah he an Wosy salary
upon business conditions When Mr. Sher-
man describes contraction OF the currency
t o d az s ose
in position similar to his, he is stating q
truth which must be apparent to every per-
son who will give the matter carerul con-
sideration. Mr.. Sherman was at that time
llrle Of paper currency, but the principle
which he set forth applies. II there IS q
contraction Of the volume OF standard
money Of the world.
Blaine's View.
Mr.. Blaine discussed the same principle
in connection with the demonstration OF
silver. Speaking in the house Of represent
atives on the 7th of February, 1873, ne salo
Il believe the struggle now gong on u in .nls
gold standard would. It successful. produce
widespread disaster in and throughout the
commercial world; The destruction 81 slL5
as the sole unit of value must have ruin
Gus effect on all forms OF property, except
those invested which yield fxed return
HANGED In value and would gain a dispro-
portionate and unfair advantage over
every other species Of property
nents which yield fixed return in money"
can regard the destruction Of silver with
complacency? May we not expect the hoId-
ers OF other forms OF propedIty 70 p r9le5.
sp ne les Of property II the relatively few
whose wealth consists iargsly IN u hs aso 70
enhance the value Of their investments,
have not the rest OF the people the right to
use the ballot to protect themselves from
the disastrous consequences OF risiuB
standard?
Dollars That Grow Not wanted.
what shall it profit us to have q dollar
which grows more yaluaDle every Gay. u
such dollar lowers. the standard OF CIV,
ilization and brings distress to the people!
What shall It profit us II. in trying to raise
our credit by increasing the purchasing
power of one dollar. we destroy our aDilsty
ering the purchasing power OF the PROD,
ucts with which these debts must be paidY
VIII No Longer BE Borrowers.
II 1t is asserted, as 1t constantly Is as
serted, that the gold standard VIII enable
reply that the restoration OF bimetallism
will restore the parity between money ana
property. and thus permit an era OF pros
perity which will enable the American peo-
pie to become loaners of money instead
OF perpetual borrowers
What Free Coinage Means.
AS against the maintenance or gold
standard, either permanently or until other
the Chicago platform presents clear ana
emphatic demand for the immediate
restoration Of the free and unlimited e COIN
ratio of sixteen to one. without waitirs
for the aid or consent of any other nation:
We are not asking that a new experiment
to financial policy approved by the ex.
perience of history and supported Dy All
the prominent statesmen OF our netlon
from the days Of the first president DOWN
to 1878.
the free and unlimited coinage OF slver
into full legal tender money we are simply
asking that the same mint privileges pc &C.
corded to silver that are now accordeo -
gold: When we ask that this coinsEe n ~
ask that our gold coins and the STANDARD
silver dollar-whfch, be 1t remembered.
shs tss SAVES sVer aoar eonea
mints-retain their present weight ana
fineness.
The theoretical advantage Of the BIZ
metallic system is best stated by EURO
mean writer on political economy, VINO
suggests the following illustrations: A river
fed from two sources Is more uniform IN
volume than q river fed from one source
the reason being that when one OF the
feeders is swollen the other may be low
whereas, river which has but one feeder
the case Of bimetallism. the volume OF
metallic money receives contributions from
both the gold mines and the silver mines
and therefore varies less; ana the oona'
resting upon two metals Is less change
able IN its purchasing power than the ooi'
lar which rests on one metal only.