The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-03

applicable to silver monorletallism also. BIZ
metallism is genuine democratic doctrine,
but bimetallism can never be attained by the
men who dominated the Chicago convention
or by the method implied in the Chicago plat
form. There Is reason to doubt whether the
forces which controlled that convention even
desired to accomplish bimetalllism. The word
bimetalism does not appear In the platform.
The convention by an overwhelming vote re-
jected proposition pledging the government
to maintain the parity Of the two metals.
The disposition of the convention as 1t
was toward silver monometallism or ire
deemable fiat money. 1t is not a difficult
task to show that under present conditions
free coinage of silver by the United States
alone would result in silver recommendation.
Foolish experiments in that direction have
already caused the loss of great part Of our
gold from circulation. Part of 1t has gone
abroad. withdrawn from investment in our
industries, and part has been boarded for
the day when it shall bring a high premium.
Our government can get none except by in
creasing the national debt and the burden
of taxation. About 500, COO, 900 in gold is in
the United States treasury to support the
parity, not alone of the $346, 600 900 of green
backs which are its original function, but
the $625, 100000 of silver currency which has
been issued since. That frail foundation has
been trembling since 1880 with the additional
weight put upon 1t. Only by heroic means
has the government been able to prop up
the immense superstructure. But even the
prospect of unlimited silver coinage under
present conditions would make that founda-
ton disappear as If in a quicksand, and you
and |, and every man who has property or
wages. would find their values changed from
gold to a silver measure.
This will be the certain result of imposing
such an additional burden upon the govern
ment, but when with that in view we con-
slider the disposition of foreign governments
to strengthen their gold reserves and the
| suspension Of free silver coinage in India
which has heretofore been the wold's sink
for all its surplus silver, but Is so no longer
the conclusion is inevitable that we would be
reduced to a silver basis and to very
very cheap silver basis at that.
Sheer as Mr. Bryan may at our dependence
upon foreign gold, the bare fact remains that
without 1t the building of our great railways
| the opening of our great farm areas, the
our industries all the stimulus to pros
| perity which these have given-would have
been delayed many years. Foreign gold-to
| Mr.. Bryans distorted vision and demagogic
mind, species of yellow fever-what is 1t
| but capital which gives work and wages
| to our citizens, adds to the product of our
| factories, makes necessities out of the former
Injuries of life, increases the comforts and
conveniences of living, adds to our country's
wealth and prosperity, until finally we will
be rich enough and prosperous enough to
send part Of our capital to other less for
/ tunate or advanced nations and
| perform the same good mission, selfish though
| 1t be, for other people. Who would reject it
because it comes as some of it probably does
from the drones of Europe?
| What better use can the accumulated wealth
| of England's ariStrcracy be put to than to
| build up American industries?
The withdrawal of European capital would
still further depress values and encourage
| panic.
The rate of interest in every country where
| they have solid and fixed standard is nearly
half of the rate prevailing In any silver coun-
/ try. A good illustration is found in the ad-
| joining states of British Guiana and Vene-
, zuela- In British Guiana where the stand
ard is gold, the rate of interest is from to
! 6 per cent per annum, while in Venezuela a
/ silver country, the rate is from 10 to II per
| cent; and this will follow in every silver
| country. The reason Is plain: When you
| loan money under fixed standard, and agree
| to pay under the same standard the lender
| can afford to loan his money at a cheaper
rate than when he loans it in currency
| that may depreciate before the return of his
money.
SILVER STANDARD.
4 silver standard you'd work particular
Injury to wage-earners- The rich and we'll
| to-do can usually take care of themselves
| But the who has vital interest in
every days wages, whose family depends up-
! on those wages for its bread and meat il