Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-09-05
BRYAN AND eIMETALLIsM.
Always . Source Of Earnest study with
Him.

William Jennings Bryan graduate d
from college at Jacksonville only
dozen years ago and has been an oc-
ca.ional contributor to the college
paper called the College Ramble.
The last article from his pen was de-
voted to the silver question, and ap-
peared in the issue Of May 4. 1898.
II shows how near to his thoughts
has ALWAYS been the subject of bi-
metallism. That article is herewith
reproduced as being important and
timely reading:
"For the past 90 years the advo-
Gates OF bimetallism have been COM
lighting in disguise-men who would
oppose every measure friendly to the
restoration Of silver, and yet who
claim to be bimetallists. The time
has come when the fight is to be
made openly between the double
standard and the single standard.
The Reform club, OF New York. which
is more active, probably, than any
other association in the fight against
the restoration Of silver, has recently
issued a pamphlet entitled. .Th G.
Peoples Money in which it save:
Gold monOmetallism is the una.
voidable destination of this country.
The sooner we recognize this aud
voice it in our laws, the sooner will
we reap the fruits. Should
we unfortunately let 60 OF the single
standard there will be nothing to
take hold of, but silver monometal-
ism, for bimetallism for US is q
snare and delusion. The advo.
Gates OF bimetaliism are fortunate in
having at last brought their enemie 5
to an open fight because there can be
no doubt OF the result when the peo-
pie OF the United States are com
PEELED to choose between bimetallism
aud gold recommendation. Bimetal-
lism is the name applied to that
financial system in which gold and
silver are linked together at a fixed
ratio aud given equal privileges at
the mint and equa! legal tender q ual-
tiles.
1.-The purpose of bimetallism is to
retain in use throughout the com.
mercial world both god and silver
ss primary or standard money.
While bimetallism does not depend
upon a particular ratio, but has -x.
listed At various ratios, the ratio oil
l6 to is the ratio which is gener.
ally advocated by those who believe
in the restoration of bimetallism. BY
the ratio OF l6 to is meant that Ii
ounces Of silver shall be the legal
equivalent OF one ounce Of gold in
debt paying power, or in other
words, that 25.S grains of standard
gold constitute dollar, and
1880 grains OF standard silver
constitute q dollar. BY free coin.
Ae is meant the legal right &c
convert gold bullion into gold coin
and silver bullion iutO silver coin
without charge for mintaSe. Under
the operation Of the free coinage law
the government does not buy metal
but simply stamps the metal. invest.
1t with legal tender qualities an re.
turns it to the person who presents l.
for coinage. BY unlimited coinage
Is meant the coinage o! both gold
and silver without limitation "a to
amount, the amount coined being
dependent entirely upon the amour,
presen' ed for coinage. Bimetallism
Is defended theoretically, on the
ground that the volume of metallic
money will be less variable land
therefore the value of each dolla,
more stable when the volume of cur.
rcncy is composed OF both gold and
silver than 1t would be under a sys.
TEN OF recommendation. Thirty years
,go the question of bimetallism
could be discussed theoretically and
It made little difference to the M
tons at large whether a particular
nation used gold or silver. or both,
because at that time enough nations
we're using gold and silver to furnish
use for all the gold and silver
mined. Now. however, we mus,
consider the practical necessity fol
bimetallism, whether we favor 1t the
oraticallv or not, because there
is not enough gold in the world to dc
the business of the world. An at.
tempt to use gold alone rs standard
money means that the work hereto.
fore done by gold and silver together
shall henceforth be done bv GOLD
alone, and that means an increased
demand for gold, which, according tc
the natural laws Of supply and de
mand, will increase the exchangeabl,
value of each ounce of gold. As
gold dollar is always 25.S grains O
standard gold any policy which would
make an ounce of gold increase in
value as measured by other kinds o
property would appreciate the pur
chasing power Of dollar made from
the gold. There are certain persona
who are interested in having the dol
; lar rise in value. For instance, Sen
ator Sherman, speaking on the sub
Iect in 1869. said that the capitals
} out of debt. the salaried officer ant
; annuItant' would profit by a rise il
the purchasing power OF the dollar
The reason isobvious. The capi
talist owns money and il the purchas
ing power of the dollar doubles, hi!
: wealth has dodbled because the