New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-13

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ate and unfair ADVANTAGE over other species
investments which yield a Fixed return in money
can rssaI1 'ne obstruction OF silver with compla-
forms of property to protest against giving money
every Other species Of If th USr
few whose wealth consists largely in fixed invest
nents have a right TO the ballot to enhance
the value of their investments have the rest of
from ho sa gfr ,he nao1 TO proec,
rising standard? The people who must purchase
position entirely different from the position Of
thoSe who own money receive q fixed income.
Sett-depends upon the prosperity of the masses.
srn%s nma pr6t US to haye dollar which
.rs the standard of civilization and brings distress
to raise our credit by Increasing the PURCHASING
power OF our dollar destroy our ability to pay
ne ne debts already contracted by lowering the yur
debts must be paid?
the gold standard viii enable US to borrow more
i0mey from abroad reply that Che OF
ana property ana thus permit an era of prosperity
loaners of money instead of perpetual borrowers
Even If we desire to borrow. how long can
Ing the value of property. wcakens the foundation
upon which credit rests?
THE INTERESTS OF POsTERITY
=, Even the holders of fixed investments. though
dollar certainly see the injustice of the Legislation
which gives them this advantage over those whose
products. If the holders Of fixed investments will
not listen to arguments based upon Justice and
equity, appeal to them to consider the interests Of
posterity. We do not live for ourselves alone our
are for those who 10 come after us as much
for ourselves, but we cannot protect our children
now reaping advantage from vicious financial
system remember that in the wears TO come their
own children and their chidren's children may,
through the operation Of this system. be made
to pay tribute to the descendants OF those who are
As against the maintenance of gold standard.
either permanently or until other nations can be
united for its overthrow. the Chicago platform pre-
sents a clear and emphatic demand for the immedi-
ate restoration of the free and unlimited coinage of
silver and gold at the present legal ratio OF 10 10 ],
without waiting for the aid or consent OF any other
be tried we are insisting upon return to financial
policy approved by the experience Of history and
Nation from the days of the first President down to
1873 When we ask that our minis be opened to the
tender money, we simply asking that the same
mint privileges be accorded to silver that are now
be at the ratio of 16 to simply ask that gold
coins and the standard silver dolar-which. be 1t
yer as the first silver dollar coined at mnts-re
tain their present weight and hneness
RIVER WITH TWO FEEDERS
The theoretical advantages of the bimetallic sys-
TEN is best stated by European writer on polit-
cal economy. who suggests the following ilustra-
ton: A river fed from two sources is more uniform
in volume than a river fed from one sOurce-the
reason being that when one Of the feeders Is
which has but feeder must rise or fall with
that feeder. So in the case Of bimetallism; the
from both the gold mines and the silver mines. and
therefore, varies less ana the d4aT uP D
power that the dollar which rests on one metal
. If there are two kinds of money the option must
either with the debtor or with the creditor
the interests Of society in general in order TO de-
panr tho TO SmataIc sysem gold and silver are
linked together by law at fixed ratio, and any per-
can have the same converted into full legal-tender
money. If the creditor has the right TO choose the
able to suppose that he will require the debtor 10
pay in the dearer metal II there Is any percepti6e
This new demand created for the dearer metal VIII
demand for the cheaper metal will make that metal
cheaper still IT, the other hand, the debtor ex-
ercises the option. it IS reasonable to suppose that
he will pay In the cheaper metal II one metal is per-
ceptibly cheaper than the other, but The demand
price while the lessencd demand for the dearer
metal will lower It's price.
AN AUTOMATIC REGULATOR.
In other words when the creditor has the option.
the metals are drawn apart; whereas, when the
debtor has the option the metals held together
approximately at the ratio fixed by law; provided
the dernand created is suffieent to absorb all OF
both metals presented at the mint SOCIETY IS
therefore, interested in having the option eXer-
cised by the debtor Indeed. there can be no such
thing real bmetallism unless the option IS exer-
cIsed by the debtor. The exercise OF the opton
by the debtor compels the creditor classes. whether
domestic or foreign. to exert themselves TO main
tain the parity between gold and silver at the egal
ratio whereas they might find proht In driving
one Of the metals 10 a premium II they could then
demand the dearer metal
The right of the debtor 10 choose the coin In
which payrnent shall be made extends 10 obliga-
tons due from the Government as well as 10 con
tracts between individuals. Government obi
cation is simply debt due from al the PeoPIfe 10
on. of the people and IL Is Impossible 10 JUSTIFY a
policy which makes the interests OF the one per
son Who holds the obligation superior to the rights
OF the many who must be taxed TO pay H. when.
pr,or TO 1873 silver was a premium II was never
contended that National honor REQUIRED 'he paSS
ment of Government obligations IN silver, ana me
Matthews resolution, adopted by Congress IN Do.
expressly asserted the right OF the Unlted o'atta
10 redeem coin obligations IN standar" sl'Nci "o'-
lars well as In gold coin ,, as.
Upon this subject the Chicago platform reauS'