Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-08-20

populists, the silver party-not only
declared for bimetallism, but have
outlined the specific Legislation neces-
ssry to restore silver to it's ancient
position by the side of gold.
"The republican platform expressly
declares that bimetallism is desirable
when it pledges the republican party
to aid in securing it as soon as the as
sistance of certain foreign nations can
be obtained. Those who represented
the minority sentiment In the Chicago
convention opposed the free coinage
Of silver by the United States by in
dependent action, on the ground that
10 their judgment it would retard or
entirely prevent the establishment of
international bimetallism, to which
the efforts Of the government should
be steadily directed When they as
serted that the efforts of the govern
ment should be steadily directed to-
ward the establishment Of internat-
ional bimetallism, they condemned
monometallsm.
THE GoLD sTANDARn WANTING
"The gold standard has been
weighed in the balance and found
wanting. Take from it the powerful
support Of the money changing
classes and it cannot stand for one
day in any nation in the world, 1t
was fastened upon the United States
without discussion before the people
and its friends have never yet been
willing to risk a verdict before the
voters upon that issue.
"There can be no sympathy or CO.
operation between the advocates of a
universal gold standard and the advo-
Gates Of bimetalllsm. Between bimet-
allism-whether independent or inter-
Newfoundland the gold standard there
is an impossible gulf. Is this quad
rennial agitation IN favor Of interna-
tional bimetallism conducted in good
faith, or do our opponents really de-
sire to MAINTAIN the gold standard
permanently? Are they willing to
confess the superiority Of a double
standard, when joined by the leading
nations Of the world, or do they still
insist that gold is the only metal suit
able for standard money among civil
lied nations? If they are, in fact, de-
sirous of securing blmetallism we
may expect them to point out the
evil of gold standard and defend BIZ
metallism as system.
IF, on the other hand, they are
bending their energies toward the
permanent establishment of gold
standard under cover Of declaration
in favor of international bimetallism,
I am justified in suggesting that hon
est money cannot be expected at the
hands of those who deal dishonesty
with the American people.
THE HONEST TEST OF MONEY.
"What is the test Of honesty in
money? 1t must certainly be found
in the purchasing power Of the dollar,
An absolutely honest dollar would
not vary in its general purchasing
power; 1t would be absolutely stable
whsn measured by average prices. A
dollar which increases in purchasing
power is just as dishonest as dollar
which decreases in purchasing power.
"Prof. Laughlin, now Of the Uni
verslty of Chicago, and one Of the
highest gold standard authorities, in
his work on bimetallism not only adj
mits that the gold does not remain
absolutely stable IN value but ex-
pressly asserts that there Is no such
thing as standard value for future
payments, either in gold or silver,
which remains absolutely invariable.'
He even suggests that multiple
standard, wherein the unit is based
upon the selling prices Of q number
of articles of general consumption,
would be a more just standard than
either gold or silver, or both, because
a long time contract would thereby
be paid at its maturity by the same
purchasing power as was given in the
beginning
NO SYSTEM ABSOLUTELY JUST.
ut cannot be successfully claimed
that mouometallism or blmetsllism or
any other system gives an absolutely
Just standard Of value. Under both
| = 100. - ,t1:o., onJ k;poakoIl;er, tba