The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-09-12

=.
They would BE- the same In form. but al
ferent In value. The government woult
have no part In the Transaction except =
coin the silver bullion into dollars y
would share In no part Of the proht y
| would take upon itself no obligation. II
would not put the dollars into circulation
II could only get them as any citizen wouIe
get them. by giving something for them
| II would deliver them TO those VINO oe'
| posted the silver and It's connection WIFE
| the transaction there end. Such are tnt
silver dollars which would be issued unde'
Who Would Maintain PS-jsy.
WHO would then maintain tho parity
What would keep them at par H:;t gold
Ihere would be no obligation rest'ns upon
the government to do II. and II there were
IL would be powerless to do II. Tao simpie
truth Is We would be driven to siivei
oas's-to silver monometallism. Taese ao.-
lars. therefore. would stand upon theii
real value. I. the free and unlimited com,
age CT silver at ratio Of 16 ounces OF
silver to ounce OF gold would. as some
or It's advocates assert make 81 Genus III
silver worth 100 cents and the silver doiiai
equal to the gold dollar then we wouid
have no cheaper money than now. ana IL
would be no easier to get. But that sucn
would be the result is against reason ana
4
and In all lands. II means the deba semeh'
OF our currency to the amount OF the az
| ference between the commercial ana coin
value OF the silver dollar which Is ever
| changing and the effect would be to reduce
property values. entail untold hnanciai
loss, destroy confidence. impair the ophga-
tions OF existing contracts, further impoV-
erish the laborers and producers OF the
country, create a panic OF unparalleled
severity and inhict upon trade ana com
merce a deadly blow. Against any such
policy am unalterably opposed.
Gold Driven Out of Mexico.
"Bimetallism cannot be secured by In
dependent action on our part. 1t cannot
be obtained by opening our minis to the
unlimited coinage of the silver OF the
world at a ratio OF 16 ounces OF silver to
ounce of gold when the commercial ratio
is more than 80 ounces of silver to ounce
OF gold. Mexico and China have tried the
experiment. Mexico has free coinage OF
silver and gold at a ratio slightly In ex-
cess of 1914 ounces of silver to l ounce OF
gold. and while her minis are freely open
to both metals at that ratio. not a single
dollar in gold bullion is coined and cir
culated as money. Gold has been driven
out Of circulation In these countries and
they are on silver basis alone. Until
international agreement is had, II Is the
pain uuty OF the united oldteS " hiaih-
tain the gold standard. II is the recog-
nized and sole standard OF the great COM
mercial nations OF the world with which
we trade more largely than any other.
Eighty-four per cent. of our foreign trade
for the fiscal year 1895 was with gold
standard countries. and our trade with
other countries was settled on gold basis.
More silver Than Gold.
Chiefly by means OF legislation during
and since 1878, there has been put in
circulation more than 1924, 000. 900 Of sill
yer or its representative. This has been
done in the honest effort to give to silver.
IL possible. the same bullion and coinage
value and encourage the concurrent use of
both gold and silver as money. Prior to
that time, there had been less than 9,000,-
900 OF silver dollars coined in the entire
history Of the United States. a period OF
eighty mine years This legislation secures
the largest use of silver consistent with
financial safety and the pledge to main
tain its parity with gold. We have to-
day more silver than gold. This has been
accomplished at times with grave peril to
the public credit. The so-called Sherman
Of the United States for money at Its mar
ket value. From 1890 to 1898. the gov
eminent purchased $500. 900 ounces OF sill
yer a month, or 81, 900, 900 ounces a year.
This was one-third the product OF the
world, and practically all OF this countrys
product. 1t was believed by those who
then and now favor free coinage that such
use OF silver would advance its bullion
value to its coinage value. but this ex
pectation was not realized. In a few
months, notwithstanding the unprecedent-
ed market for the silver product in the
United States. the price Of silver went
down very rapidly. reaching point lower
than ever before. Then. upon the recon-
mendation OF President Cleveland both
political parties united in the repeal Of
the purchasing clause OF the Sherman law.
We cannot with safety engage in further
experiments in this direction.
ION the second Of August. 1891, In
public address, / said: If we could have
an international ratio which all the lead
ing nations OF the world would adopt. and
the true relation be fixed between the two
metals and all agree upon the quantity
OF silver which should constitute dollar,
then silver would be as free and unlim-
tied in its privileges Of coinage as gold is
to-day. But that we have not been able
to secure, and with the free and unlimited
coinage OF silver adopted In the United
States at the present ratio, we would be
still further removed from any interna-
tional agreement. We may never be able
to secure 1t II we enter upon The isolated
coinage OF silver. The double standard
implies equality at ratio and that equal
ity can only be established by the concur
rent law OF nations. 1t was the concurrent
law Of nations that made the double stand
ard; II will require the concurrent law
OF nations to reinstate and sustain it,
Party Tavors Use OF Silver Money.
1.-THE Republican party has not been and
is not opposed to the use Of silver money
as its record abundantly shows. 1t has
done all that could be done for its in
creased use with safety and honor by the
United States acting apart from other gov
ernments. There are those who think that
1t has already gone beyond the limit of
financial prudence. Surely we can go no
further, and we must not permit false
lights to lure us across the danger line.
Mean. Defeat of International
Agreement. IT,
1--WE have much more silver IN use than
any country in the world except India or
China--$500 600. 600 more than Great Brit
aim $3.50, 00O. 900 more than France; $500
600. 600 more than Germany; 1926, 200. 900
less than India and s125. 900 900 less than
China. The Republican party has declared
in favor Of an international agreement, and.
II elected president. It will be my duty to
employ all proper means to promote II.
The free coinage Of silver in this country