Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-08-27

1
of silver constantly went down. What
law cannot do is to stamp upon piece
of metal zone dollar when the market
value is only 50 cents and have this
dollar circulate side by side with dol.
| lars worth intrinsically 100 cents. If law
can add AZ cents in this way, why can
it not add SO cents to cents worth Of
paper and double the blessing q of
free silverp
We only differ in the ability Of the
United States to 90 It alone. The ar
guments being employed by the Re
publicans in the press and on the stump
Jar with the plank in the platform fay-
oring international bimetallism, which
leads me to suspect that they have no
sincere desire for any other standard
save the gold one. But sop will not
answer in this campaign.
There is no inconsistency on the part
of Republicans. While ready for in
ternational bimetallism, because ii
would be safe and honest, we are not
ready for free silver, which would not
be bimetallism, but monometallism OF
the worst form, unsafe and dishonest
We claim that there is not enough
gold for the necessary money of the
world. We call on the gold men to
prove that there is. 1t does not keep
up with the increase In population and
wealth. Other money must be EN-.
ployed. We claim that silver is the
next best money. 1t is primary money,
will redeem itself if laws do not dis
criminate against it and does not re-
quire anything behind it. As itnow is,
in order to have six or seven hundred
millions of redeemable money circu.
late we have to lock up for redemption
$500, 900, 900 In gold. The Republicans
last winter tried to frame a law that
would put more money in circulation
in the form of bank notes. Why not
have silver and not tax the people ten
or twelve per cent to have the banks
issue money!
We agree that there is not gold
enough alone for the money of the
world, although its amount is enor-
nous and its production rapidly in
creasing. All countries make much
use of silver. In fact, more than halt
the money of the world is silver. We
have about an equal amount of each.
The Republican party favors making
the widest possible use of silver that
can be done and have it on a par with
gold. At the same time it is very hard
TO ret silver dollars into circulation.
They are too bulky and the people
don't want to handle them. The de-
mand is for paper currency, but it must
be absolutely above suspicion and to
that end must be backed up BY good
coin in which il can be redeemed mt
any time. Money held for redemption
purposes is practically in circulation,
through its paper representatives. But
a small part OF the silver owned by the
government is in the hands of the peo-
pie, nearly all Of II being held to redeem
certificates and notes issued under the
Bland and Sherman acts. The people
are not taxed in order that the banks
may issue money. Our correspondent
is mistaken on that point.
VIII you affirm in your paper with
out qualification that there Is money
enough in circulation in the United
States
No, not in circulation at present, be-
cause too much of it is hidden away on
account of the free silver spectre.
There is enough money outstanding
that Is, if there was in the Utopian
days prior to '73, because there is more
per capita now than there was then.
The money stream is just as broad and
leep as ever, but it is clogged by this
free silver rubbish and does not flow
With its accustomed speed. That's
what's the matter.
More next week.
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