Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-05-01

standing by q wronged people, and
that it is the latter end of their career
that is destitute of honesty, intelli-
gence or patriotism. Carlisle should
have told us.
ThirJ-Mr. Carlisle should have
explained why it was that for over
200 years gold and silver held the
marke tratio of about 15t to l. The
ratio fixed by laws, 15 to l, in some
countries, l5t in most countries, and
for a while 16 TO l in our country. In
other words, the market ratio as
shown by the tables remained prac.
tically the same as the statutory ratio
during all that time. If the two
metals cannot stand together, how
does it happen that they did so with
out serious fuctuation for 200 years,
Notwithstanding the fact that the an
nual production of each metal varied
greatly from time to time?
Fourth-If only one of the metals
can be a standard and a measure OF
the value OF things. and if a combined
standard of both gold and silver is as
impossible as it is to have two yard
sticks OF different lengths, why was it
that some of the greatest financiers of
the world, and particularly Baron
Rothschild, stated in 1869 that it was
the sum OF the two metals taken TO-
gether which formed the measure OF
value and things? No matter which
metal might for time predominate,
nevertheless the sum of the two taken
together was the measure of the value
OF all property. If the same coun-
| tries had stricken down gold by law
and destroyed it for monetary uses and
made silver the sole standard, would
not silver have gone up and the pur-
chasing power of gold gone down?
Fifth-Mr. Carlisle should have
explained why it was that in every
country where silver was stricken down
it was done by the arbitrary act of
government, and that neither com.
merce nor business had any thing to
do with it.
Sixth-It is fundamental law,
recognized by all gold standard
financiers except converts, that when
the volume of money in the world is
reduced the selling price OF all property
and commodities goes down cor.
respondingly. Therefore, the wiping
out by law Of nearly half the money of
the world had to reduce the selling
price of commodities proportionstely.
And inasmuch as the debts were not
reduced, does not Mr.. Carlisle think
even now just as he did in 1878 that a
great crime was committed against
the entire debtor class and against the
producing class by bringing about
condition of affairs by law which com.
PEELED the debtor, the producer and
the laborer to sell twice as much
property or labor as were formerly
necessary to get the same amount OF
money.
Seventh-If prices are so reduced
that it takes every thing the debtor
can get together to pay his fixed charges
aud everything the laborer can get to-
gether to buy q little coarse clothing
and plain food for his family, can
either the debtor or the laborer spend
much money buying other articles,
and il he cannot then must that not
result in the destruction of what we
once called our great home market?
II this is destroyed 90 that our great
factories and industries are unable TO
dispose OF their productions, must they
not shut down and throw labor out of
employment? Is that not exactly
what has happened in this country.
Eighth-As the laborer prospers
most when there is a large demand
for the article he creates, does it not
necessarily follow that until there is a
rise in prices, so that the debtor class
and the producing class can again do
large miscellaneous business buying,
there is no hope for the laborer?
Ninth - As there cannot be a
general rice in prices without an in
crease in the volume Of money, must
not the present paralysis and stagna-
ton continue in the world until the
volume of money is again restored to
what it WAS before silver was stricken
DOWN.
Tenth-There are in the United
States over 5000 banks, including ma
tional, State and private. The
comptroller of the currency, one OF Mr..
CarilSles assistants, received reports
from these banks showing the total
amount OF money OF every kind that
each bank had on July IL, 1895. From
this report it appears that there would.
in round numbers, be only $l27 ,0OO,-
600 of gold in all of the banks of the
United States. This was all of the
available gold in this country. There
was about $lOO. 900 600 in the treasury
at that time, but this is not available.
Mr.. Carlisle did not refer to these
figures, which are known to be &C.
curate. But instead he cited the
figures given out by the director of the
mint, also one of his assistants, in
which it is claimed that there are
about 5000, 900, 900 of gold in this coun-
try. Mr.. Carlisle must know that
these figures are incorrect, and that