The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-08-28
.HB BAINE Al MhRgH!SI?
Let Republicans Who Cherish His kemory
Answer Aftsr Reading HiJ speech.
He Believed IL FFse Silver and said that
the Single Gold standard Would
Have RulnCus Eject on the
Fortunes OF tbs sIs'ses,

cussion, and Mr.. Blsine rep, Maine)
spoke aa follows:
The discussion on the question of re-
mUnetizing silver, Mr.. President, has
been prolonged, able and exhaustive,
and I may not expect to add much to
its value, but I promise not to add
much to it's length. I shall endeavor
to consider facts rather than theories,
to state conclusions rather than argu-
ments.
believe gold and
| I believe silver silver coin to be
and gold coin to the money of the
be the money Of constitution - in
the constitution deed, the money
of the American
people anterior to the constitution,
which that great organic law recognized
as quite independent Of its own exist
ence. No power was conferred on con.
grsss to declare that either metal should
not be money. Congress has, therefore,
in my Judgment, no power to demone-
tie silver any more than to demonetize
gold; no power to demOnetize eithersny
more than to demonetize both.
In this statement I am but repeating
the weighty dictum of the first of con-
stitutionaI lawyers. 81 am certainly Of
opinion" said Mr.. Webster, shat gold
and silver, at rates fixed by congress,
constitute the legal standard of value
in this country, and that neither con-
| gress nor any state has authority to es-
tablish any other standard or to dis
place this standard" Few persons can
be found, apprehend, who who will
maintain that congress possesses the
power to demonetize gold and silver, or
that congress could be justified in pro-
hibiting the coinage of both, and yet in
logic and legal con-
If, therefore, sill struction it would
ver has been de- be difficult to show
monetized, I am where and why the
in favor of re- power of congress
monetlzing it. over silver is great
er than over gold
greater over either than over the two.
| If, therefore, silver has been demone-
tized, am in favor of remonetizing it.
If its coinage has been prohibited, I am
in favor of ordering it to be resumed.
If it has been restricted, am in favor
of having it enlarged.
What power, then, has congress over
gold and silver? 1t has the exclusive
power to coin them, the exclusive pow
er to regulate their value-very great,
livery wise, very necessary powers, for
the discreet exercise of which critical
occasion has now arisen. However men
may differ about causes and processes,
all will admit that within few years
great disturbance has taken place in
the relative values of gold and silver,
and that silver is worth less or gold is
worth more in the money markets of
the world in 1878 than in 1873, when
the further coinage of silver dollars was
prohibited in this country. To remone-
tie it now, as though the facts and
circumstances of that day were sur
rounding US, is willfully and blindly to
deceive ourselves. If our demcuetiza-
ton we're the only cause for the decline
in the value of silver, then remonetiza-
tion would be its proper and effectual
cure. But other causes quite beyond
our control have been far more pOten-
TALLY operative than the simple fact of
congress prohibiting its further coinage
and as Legislators we are bound to take
cOgnizancs of these causes.
The decentralization of silver in the
great German empire and the conse-
quent partial OF well nigh complete
suspension of coinage in the govern
ments of the Latin union have been
leading, dominant causes for the rapid
decline in the value of silver. do not
think the Oversupply of silver has had,
in comparison with these other causes,
an appreciable influence in the decline
of its value, because its oveFsupply
with respect to gold in these latter years
has not been nearly sogreat as was the
oVersupply Of gold with respect to sill
yer for many years after the mines of
California and Australia we're opened
and the oyersupply of gold from those
rich sources did not affect the relative
positions and uses Of the two metals in
any European country.
The responsible
Congress can re- ity of re-establish-
store silver toits ing silver in its
ancient position ancient and hon
orabie place as
money iu Europe and America de-
wolves really on the congress of the
United States. If We act here with pru-
dence, wisdom and firmness, we shall
not only successfully remonefize silver
aud bring it into general use as money