The Progress., 1896-09-03

they ought 10 fN'N'lhH'f tNAL lhHfe are
nc bime'allists who ar" earnestly on.
dcavorinE to secure II at any other ra-
ito than Is to l. We arc opposed to
any change in tho ratio for two rea.
sons:
h,ns' No, Change Ratio.
"First. because a change would pro-
Guce great Injustice. and second. be-
cause u change in tho ratio In not nee.
cEearv. A change would produce In
iusiicn because, if effected In tho man.
ncr usually suggested. it would result
in M oDormOrs contraction in the vol.
,mo OF standard money. Those who
ha{n advised . change in the ratio
hayo usually suggested that the silver
dollar hc doubled. If this change were
made It would nccesstatc The rer mage
of four billions OF silver in'o two bill.
lions of dollars. Thcro would be an
immediate loss Of two billions OF dol.
lars either to indiy iduals or TO the GOV.
crnmcnt. but this would be tho least
of The injury.
"Thls contraction. by increasing tho
valus Of the dollar, would virtually In
crease tho debts OF tho world billions
Of dollars and decrease sti}| more the
value Of The property OF the world as
mcasurch by dollars. Besides this i'm.
mediate result such change in the ra.
ito would permanently decrease the
annual addition 10 the worlds supply
OF money. because the annual silver
product when coined into dollars twica
as large would make only half an many
dollars.
an 1873 Mr.. Carlisle said Man.
kind will be fortunate indeed II the
annual production Of gold and silver
coin shall keep pace with the annual
Increase of population and Industry
repeat this assertion.
Easier go Get Gold Then.
"Wo arc told that the restoration OF
himcta,lsm would be hardship upon
those who have entered into contracts
payable in gold coin. but this is 0
mistake. 1t will be easier to obtain the
gold with which to meet gold contract
when most of the people can use sllvef
than It Is now when every one Ia try.
ing TO secure gold. IS
Some of the more jealous opponents
Of free coinage point to the fact that
thirteen months must e|apse betweeu
the election and the first regular sea.
sion of congress, and assert that dur.
ing that time, in case people declare
themselves in favor Of free coinage,
all loans will be Withdrawn and all
mortgages foreClosed The president
IS empowered to convene congress- IN
extraordinary session whenever the
public good requires such action. II.
ih November. the people by their bal.
lots declare themselves in favor OF the
Immediate restoration OF btmetaltism.
tho system can be inaugurated within
few months.
"1f, however, the assertion that loanl
will be withdrawn and mortgages fore
closed is made to prevent such political
action as the people may believe II
bc necessary for the preservation 0l
their rights, then new and vital Issue
is raised. Whenever It is necessary
for the people as a whole to obtain
consent from tho owners OF money and
the changers Of money before they can
legislate upon financial questions, we
shall have passed from democracy to
plutocracy. But that time has not
yet arrived. The people who in 177S
rejected the doctrine that kings rule
by divine right will not in this genera.
ton subscribe to doctrine that money
is omnipotent.
International Ri,netallism.
I'VE are not opposed to an interna'
tionat agreement, looking to the res.
tcration Of bimetallism throughout the
world. but we are not willing to await
thepeasure OF other governments, when
immediate relief is needed by the peo-
pie OF tho United States, and they
further believe that Independent action
offers better assurance OF international
bimetallism than servile dependence
upon foreign aid. How long must we
walt for bimetallism to be brought to
u3 by those who profit by monometal.
lism? II the double standard will
bring benefits to our people, who will
deny them the right to enjoy those
benefits? In taking this proposition
VIC simply maintain the dignity Of TO-
100000 citizens, who are second to
none in their capacity for self-govern-
ment
"The gold standard has compelled
the American people to pay ever in
crasing tribute to the creditor nations
OF the world-a tribute which no one
dares to defend. assert that nation.
al honor requires the United States
to secure justice for all its citizens as
well as to do Justice to all It's credltors,
Greetings rom tha West.
"Cltzens Of :.Tew York: have