Semi=weekly graphic. (Pine Bluff, Ark.) 1895-1902, 1896-08-15


other words, they wuald exercise the OPP
ton, just as the government ought 10 ex-
ercise IL now The government must
either exercise the right To redeem its oh
| legations in silver when silver is more con-
venient, or 1t must call ali the silver from
circulation and use nothing but gold as
/ legal tender. Are our opponents willing
to outline a financial system which viii
carry out their policy 20 its legitimate
/ conclusion, o. will they continue 70 cloak
their designs in Ambiguous phrases There
Is an actual necessity for bimetallism "a
we'll as theoretical defense Of it, "
| The silver dollar is now held up 10 the
gold dollar by legal tender laws and not
by redemption in gold, because 3he stand
ard silver dollars are not nov redeemable
in gold either in law or by administrative
policy We contend that free and unlim-
tied coinageSbY the United Ssates alone
will raise the bullion value of silver to its
coinage value and thus make silver bul-
lion worth 81 % per ounce in gold through
| out the world This proposition Is in
keeping with natural laws not in defiance
| to them.
If our mints are opened to free aud I'M
limited coinage at the present ratio mer-
| chandise silver cannot come here because
| the labor applied TO it has made it worth
| more in the form of merchandise than it
| would be worth at our mints We cannot
| even expect all of the annual product of
| silver because India, China, Japan, Mexi-
CO and all the other silver using countries
must satisfy their annual needs from the
| products; the arts will require a large
| amount aud the gold standard countries
| will need a considerable quantity for sub
| sidary coinage. We will be required to
coin only that which is not needed else
| where, but If we stand ready to take and
| utilize all of it other nations will be com
PEELED TO buy at the price which we fix
| Many fear that the opening of eur mints
| will be followed by the enormous increase
| In the annual production of silver This
| is conjecture. Silver has been used as
money for thousands of years, and during
| all that time the world has never suffered
| from oyerpreduetion.
/ Our opponents cannot ignore the fact
that gold is now going abroad in
spite of all legislation intended to prevent
| 1t and no silver is being coined to take its
/ place Not only is gold going abroad now
but 1t must continue to go abroad as long
as the present financial policy IS adhered to
| unless we continue to borrow from across
the ocean and even then we simply post
pone the evil, because the amount bort
! rowed together with interest upon it,
must be repaid in approaching dollars.
The American people now owe a large sum
| to European creditors and falling prices
| have left larger and larger margin be-
| tween our net national income and our an
nual interest charge. There IS only one
! way to stop the increasing flow of gold
from our shores and that is to stop falling
prices. The restoration of bimetallism
| viii not only stop falling prices, but will
10 some extent, restore prices by reducing
the worlds demand for gold. If it is
argued that a rise in prices lessons
the value of the dollars, which
we pay 70 our creditors reply
/ that, in the balancing of equities the
American people have as much right 70
favor financial system which Will main
tain or restore prices rs foreign creditors
I fgf al Int
will reduce prices. But the Interests OF
society are far superior to the interests of
either debtors or creditor and the inter
ests of society demand Il financial system
| which will add to the volume Of the stan
| dard money OF the world, and thus restore
| stability TO prices. Perhaps the most per
sistsnt Misrepresentation that we have to
| meet is the charge that we are advocating
the payments OF debts in 50-cent dollars
At the present time and present laws a
silver dollar, when melted loses nearly
half its value but that will not be true
when we agRin establish a mint price for
silver and leave no surplus silver upon the
market to drag down the price of bullion,
| Under binetallism silver bullion will be
| worth rs much as silver coin inst as gold
bullion is now worth as much rs gold coin,
and we believe that silver dollar will be
worth as much as gold dollar.
Honest differences of opinion have al
ways existed and ever will exist as to tho
| legislation best calculated TO promote the
public veal, but when 1t is seriously as
serted that this nation must bow to the
dictation of other nations, and accept the
policies which they insist on, the right of
| selfgovernment ~ assailed, and until that
| question is settled all other questions are
insignificant.
Citizens of New York. | have travelled
from the center of the continent to the sea-
board that might in the very beginning
of the campaign bring you greetings from
the people of the west and south and as
| sure you that their desire is not to destroy,
but to build up, They invite you to accept
the principles Of living faith rather than
listen to those who preach the gospel of de-
| spair, and advise the endurance OF the Ills
| YOU have Advocates of free coinage be-
| lieve that in striving TO secure the immedi-
ate restoration of bimetallism they are la
boring in your behalf as we'll rs in their
own. A few of your people may prosper
! under present conditions, but the perma-
nent welfare of New York rests upon the
| commerce of the nation and must suffer II
that commerce Is impaired. You cannot sell
unless the people have money with which
TO buy and they cannot obtain the money
with which to buy unless they are able to
sell their products at remunerative prices.
Production of wealth goes before the eX-
change of wealth; those who create must
secure profit before they have anything to
share with others. You cannot afford to
Join the money changers in supporting a
financial policy which, by destroying the
purchasing power of the products of toll,
must in the end discourage the creation Of
wealth.
/ ask, l expect, your cooperation. 1t is
true that few of your tinaciers would
fashion new hgure-represen Column
bia, her hands bound fast with letters OF
gold and her face turued toward the east
| appealing for assistance 10 those who live
beyond the sea--but this figure can never
express our idea of this nation You
would rather turn for inspiration to the
heroic statue which guards the entrance ia
your city, a statue as patriotic in cOncep-
ton as it is colossal in proportions; Ii was
the gracious gift of sister republic and
stands upon pedestal which was built by
the American people. That fgure-Lib-
> erty Fnlightening the Worlds emblem
attic of the mission of our nation among the
nations of the earth. With a government
which derives its powers from the consent
of the governed, secures TO all the people
the freedom of conscience freedom OF
thought and freedom of speech. guarantees
D equal rights to all an3 promises special
privileges to none. the United States should
be an example in all that is good and the
| leading spirit in every movement which has
for its object tho uplifting Of the human
race.
Hamilton to Bs Hanged.
LITTLE Rock, Aug. i8.-Goyernor
Clarke has fixed Sept. / as the date for
/ - % Ttk,-f.. IT....sfe,,.