Mexico weekly ledger., 1896-08-20

prices. A dollar which increases in purcnas-
Ing power is Just as dishonest as a dollar which
decreases in purchasing power.
1t cannot be successfully claimed that mono
matallism or bimetallism. or any other sys-
tenn, gives ar absolutely Just standard oil
value. Under both recommendation and BIZ
metallism the government fixes the weight
aud hneness OF the dollar. invests it with the
legal tender qualities and then opens tns
mints to its unrestricted coinage. leay-
ing the purchasing power of tho dol
lar 10 be determined by the num-
Der OF dollars. Bimetallism is better
than monometallism, not because it gives US o
perfect dollar-that is a dollar absolutely IN
varying In its general purchasing p~ower-out
because 1t makes a nearer approach to staoli-
ity, to honesty, to Justice, than a gold
standard possibly can. Prior to 1873, when
there were enough open minis to permit al!
the gold and silver available for coinage to
find entrance into the worlds volume OF
standard money, the United Sta ties might
have maintained o gold standard with less in
jury to the people Of this country; but now,
when each step toward a universal gold stand
ard enhances the purchasing power OF gold
depresses prices and transfers to the pockets
of the creditor class an unearned increment,
the influence of this great nation must be
thrown upon the side OF gold unless we are
prepared to acc ept the natural and Legitimate
consequences OF such an act. Any Legislation
which lessons the worlds stock OF STANDARD
money luCEcdSeS luC GAChaubcabtG a4u VI
the dollar; therefore. the crusade against sill
yer must inevitably raise the purchasing
power of money and lower the money value o.
all other forms OF property.
Our opponents sometimes admit that it wai
a mis- take to demonetize silver, but insist thal
we should submit to present conditions rather
than to return to the bimetaliic system. They
err in supposing that we have reached the end
Of the evil results OF q gold standard; We have
not reached the end. The injury is a continu-
ing one. and no person can say how long the
world is to suffer from the attempt to make
gold the only standard money. The same in
fuences which are now operating to destroy
silver in the United States will, If
successful here, be turned against
other silver-using countries, and eacl
new convert to the gold standard viii
add to the general distress. So long as The
scramble for gold continues prices must fall
and a general fall In prices is but another def.
milton OF hard times, Our opponents, while
claiming entire disinterestedness for them
| selves, have appealed to the selhshness of
nearly every class Of society. Recognizing the
| disposition Of the individual voter to consider
the effect Of any proposed legislation upon
himself, We present to the American people
| the financial policy outlined in the Chicago
| platform. believing that it will result in the
| greatest good to the gre attest number.
The farmers are opposed TO the gold stand
| ard because they have felt Its effects. Since
| they sell at wholesale and buy at retail. they
| have lost more than they nave gained py iali'
| ing prices, and besides this, they have found
that certain fixed charges have not fallen al
all. Taxes have not been perceptably de-
creased although 1t requires more OF farm
products now than formerly TO secure the
money with which to pay taxes. Debts have
not fallen. The farmer who owed $40 Is stt!
compelled to pay 8 1000, although it mas be
twice assdiedcult as formerly to obtain the dG!'
lars with which to pay the debt. Railroad
rates have not been reduced TO keep pace with
falling prices, and besides these items there
are many more. The farmer has I hus found i
more and more difficult to live. Has he not .
just cause for complaint against the gold
standard?
The wage earners have been injured by q
gold standard, and have expressed themselve.
UPON the subject with emphasis. In February
1895, o petition asking for the immediate re-
storation Q: the free and unlimited coinage OF
gold and silver at l6 to l was signed by the rep
resentatives OF all or nearly all of the leading
labor organizations and presented to congress.
Wage earners know that while q gold standard
raises the purchasing power OF the dollar, IL
also makes it more difficult to obtain pos
session OF the dollar; they know tina
employment is less permanent, loss OF work
more probable, and re-employment less certain.
A goldi standard encourages the boarding OF
money because money is rising; 1t also as
courages enterprise and paralyzes industry. On
the other hand, the restoration OF bimetalnsm
will discourage boarding, because, when price:
are steady or rising money cannot AFFORD to liz
idle in the bank vaults. The farmers anc
wage earners together constitute q considera'
BILE majority Of the people OF the country
Why should their interests be ignored in CON
sidering financial legislation? A monetary
system which is pecuniarily advantageous to Q
few syndicates has far less to commen 1t thar
o system which would give hope and eneour-
sgement to those who create the nations
| wealth.
Mr. Bryan devoted much attention te
| the subject of international bimetal
1ism, and when he concluded, after
speaking an hour and 40 minutes
there was another but briefer demon
stration.
Mr.. Sewall was then introduced by
Gov. Stone in tones that were maud
BILE and delivered a brief speech I'M
~equivocally indorsing the Chicago