The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1896-03-21
EASTERN BIMETALLIsM.
A Maine Farmer Gives Ills Views In
the Farming News Worth Reading

| AAB WIN gAAC AAoblAAC0
that it does not endorse one word Of
it, and merely for the purpose of en-.
abling its readers to inform themselves
as to the eastern view of the money
question. The communication was
published in the March number of the
Springfield, Ohio, Farm Ne,0S, which,
by the way, is strong anti-goldbug
journal:
From such newspapers published in
the west as have come under my no.
tice, l see that the impression prevails
there that the general sentiment in the
east is gold mono metallic. There was
never greater misapprehension.
The sentiment in the east is almost
unanimous for bi-mstallism. have
never met person who expressed him
self opposed to it. There may be in
diYiduals among bankers or college
professors, who are gold mono-metal-
lists, but we are only aware of their ex-
istence by occasional articles in some
of the reviews or magazines.
Among the people they have no fol.
lowing whatever. Both the great po
litical parties always declare emphat-
ically for bi-metallism.
Here in the east when we talk bimet-
allism we mean it. Unlike a large
class in the west who talk bi- metallism,
but mean silver mOno.m etallism, we
talk and mean bi-metallism. What we
want is the concurrent circulation of
both metals. There is in this country
over 81 ,2O00O0,0O0 in coin, about equal
ly divided between gold and silver. We
wish to retain it in circulation. We are
opposed TO any policy that would drive
one,half of it out of circulation. It is
well known, in fact no one here has the
cheek to dispute, that silver coinage, at
the ratio of 10 to /, by this country
alone, means anything but the imme-
! diate withdrawal of $600O00,0OO from
circulation and the contraction ofthe
currency to that amount. 1t is regard
ed here as a sinister attempt to place
this country on silver basis. If the
10 to policy becomes the leading issue
in the next election it will be opposed
by both political parties in the east, on
the ground that it means silver mono.
metallism. There has been a great
deal written upon the free coinage side
of this question; vast amount of dust
has been raised that tends TO obscure
the real issue. We care not for irrele.
want questions. We cannot waste time
on side issues. Silver mono metallism
is a danger that oVershadows all other
issues.
Every civilized nation has endeav-
ored to maintain the double standard.
1t was always considered desirable to
maintain the concurrent circulation of
both metals. 1t was found exceedingly
difficult, however, to succeed in doing
this. One or the other of the two met.
ais would disappear from circulation.
This was owing to GreSham's law that
"the poorest money drives the best out
of circulation" This law is recognized
throughout the civilized world. The |
coinage laws of every nation have in
Variably been framed in accordance |
with this law. 1t is essential that cor
coins of both the metals
possess the same value; and their value
is determined in the markets of the
world. Under free coinage, coins of
both metals circulate at their CONNER
clal value. Hence, every nation here
totOre has always endeavored to fix
the coinage ratio at precisely the com.
merclal ratio. The uniform experience
Of every nation has proved that anv
variation from this rule results in the
disappearance of the under-valued
metal from circulation. At this time
ne commercial ratio between gold and
silver is about 80 to 1; and to establish
he coinage ratio at 16 to would render
Sold nearly twice as valuable as a com.
modify than as money, and consequent
y 1t would Immediately withdraw from 1
circulation, thereby placing the country
N silver basis. Some of the free
olnage leaders have admitted this: but
he great body of their followers are t
lot aware that such would be the re- }
ult. !
The free coinage party is sailing a
nder false colors, They profess to be Q
that they are not. They call them 2
elves what they are not. For what is o
metaiiism? About the year 1867,
hen the first monetary conference G
let and perhaps few years previous. it
p TO 1873, there arose in Europe the =
No parties, mono metallists and BIZ
ietallists, For bi.metallism the lead
g writers were Henri Cerpusehi
'olowsky, Andre, Leon Say, Laveley,
cunt Schlopis, COureelle, LeneuI and
.mn lnganE llnkL. - ~