Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-13
Ayers aa1 SarSapariIIa
RECEIVING MEDAL At WORLDS rAIs


tons: "A river ioi from two soufc.s
l. mcte uniform IN volume than
river led from one aource-tho reason
that when Oue OF the ieeIrfs iaswrI'oH.
The other may be- low, whereas river
which has bus one iguder must flsr Bf
fell with that iUedor. 50 la the case d
himulaillsm, the metallic munuv fs.
ceivca contributions from both tho gold
minrs anu tue silver miues, anu thrfs.
tore varies lcsf, ami tue dollar resting
upon the two metals Ia Ices chanFrahie
In lia purchasing power than tho dol.
lar which rests upon one metal only.
"li there arc two kinds OF money tbs
option must tcst either with the dent.
OF VI with the creditor. Assuming
mat their rights utn equal, We must
lo0k 81 tho iuteru1ta o, society In gen.
efal IN order 10 determine 10 wi irh aiio
tue option should be given, Upon tho
Olmetnllo aystom goil and silver ate
linked tgether by law at Fixed fa.i1,
ahd any person or ptralns owning
my quantity Of either mulal eau have
thoHamoc inverted into fdIl legal tender
money. the creditor mas thu right 10
CHOOSE thr metal In which payment
shall be made, a. " reasonable to tur.
rose that no will require tue debtor 10
pay Ia tho deafoF money n there Any
prruupiible difference between the
uulli0n values OF the metals. This now
demand created fot tho doatef metal
viii make tuat metal deafor atill, while
tho decreased demand Tor the ohearrf
metal Will make that metal cheaper
still. On the other hand, n the deblof
cxci cited the option II IL reasonable 90
suppose that ho viii pay In Ihu cheaper
moial, II one metal II pefcupubly
cheaper than the other; but tho o..
mand thus created for tho chUapuf
metal will raise H. price, while iho
lesaoued demand Tor tho deaTef metal
will lower It, price. In other WutIi,
whom Tue creditor has tho option TIE
metals are dtRwu apart, where's Whon
,hu debtor has thu option tho mtlasste
held together approximately NJ Tho
fauo hGod by law, provided The De.
mand created Ia sufficient q abioib nIl
or both metals presented At the mint.
Society Is therefore interested 10 hay.
log tue option exercised by tho debtor.
Indeed, there eau be- no such thing rs
rual bimetallism until tho option IL OK.
cfelsUi by tho debtor. The exercise %
TIC option by the debtor o3mpoli
thg creditor classes, whether domestic
% i1relgu, TO exert lLomHBlyes
10 maintain the parity between gold
and silver NJ the legal ratio, whereas
tuoI might nnd profit IN driving one
Of tue metals 10 premium u they
could then demand the ueat metal
The right OF the debtor ~ choose the
coin Ia which payment shall be made
extends 10 Obligations due from the
government no well ~ 10 contracts be-
tween individuals. A government
Uulgallon Il simply debt due from
Tue people " onu VI tho people, aud u
IL impossible /, Justify q policy which
makes the Interests OF 0ne person who
holds the obligation superior 10 the
fighh oil the many who must be taxed
" pay u, When prior TO 1873 silver
WAs ~ Premium n was never cln-
tended thut national honor required
he payment Of government ubligG.
l M lu liver, anu the Matthews Ies1.
luton adopted by Congress IN 1875
expressly asserted the IA ht VI the
unitrd . atts % redeem cllu ubllga.
'ions 10 i'andhtd silver dollars ~ well
a. Tag IL coin.
"Up0n this subject the Chicago plat.
form reads. 1--WE arc opposed 10 The
policy and practice VI euffondeTing 10
lhe holders OF tho obligations Of tho
Inllui Stats tho option reserved by
law " the government Of Tedeeming
such obligations Ia ,llhtr silver ogiu
or gold coin"
NOT IliE FAULT Oh dRrRhBACils.
at IL constantly assumed by some
lhAt tue United States notes, commonly
called gIeonbacks, and tho treasury
notes Issued under the act OF 1890 arc
responsible for the recent Drain upon
Tue goll reserve, but this assumption 10
entirely without foundation, Secretary
Cafiiuln appebrod before tho House
committee On on appropriation on Jan.
uafy 81 1890 aud quote from tho
Printed report Of his testimony before
the committee!
Mi. bibley-l would like 10 ask you
lperhaph not entirely connected with
!he matter under disoussion) what OBJ
lucllon there could be In having the
opllon " roieemlng either ia silver "a
gull win tho treasury instead OF with
The notv-holder.
Secretary Carlisle--If that policy
had been adopted al the beginning OF
the resumption (aHd / am not saying
lhls Tor the purpose OF orltlcislng the
action OF any Of my predecessors, or
Anybody elsel, but II the policy Of re.
serving % tue government ut The
beginning OF Iesump.ign tho option
'' feaeemlng In gold or silver all