The Progress. (Shreveport, La.) 1892-1900, 1896-09-10

tIH6 inc pehc''oF"l p'helaI'lHm, objAct
to coinage a. the present ratio. II
ihey arc deceived by this objection
they ought to remember that there are
nj bimctaIlists who are earnestly an
dcavoring to secure it at any other r..
tic than l6 to I. We arc opposed "a
any change in the ratio for two re,.
sons:
Must Not Change Ratio.
First. because a change would nm.
dUce great injustice, and second ha,
cause a change In tho ratio Is not nec.
cssary. A change would produce in,
justice because, if effected in the man,
ncr usually suggested. it would resuh
in an enormous contraction in the vol.
ume Of standard money. Those who
havo advised change in the ratio
nave usually suggested that the silva,
dollar be doubled. If this change vera
made 1t would neCessitate the rec )inaya
Of four billions Of silver into two bill,
lions Of dollars There would be an
immediate loss of two billions OF dol.
lars either to individuals or to the nov.
crnmcnt, but this would be the leasl
Of the injury.
"This contraction, by increasing the
value Of the dollar, would virtually In.
crease the debts OF tho world billion,
OF dollars and decrease still more thu
value Of tho property OF the world a,
measured by dollars. Besides this i'm.
mediate result such change in the "a.
ito would permanently decrease tho
annual addition to the worlds supply
OF money, because tho annual silve1
product when coined into dollars twice
rs large would make only half az many
dollars,
I'm 1878 Mr.. Carlisle said: Man.
kind will be fortunate indeed II tho
annual production Of gold and silver
coin shall keep pace with the annual
increase Of population and Industry
repeat this assertion.
Easier to Get Gold Then.
1--WE are told that the restoration o.
bimetallism would be a hardship upon
those who have entered into contracts
payable in gold coin, but this is
mistake. 1t will be easier to obtain the
gold with which to meet gold contract
when most of the people can use silver
than 1t Is now when every one 10 try.
ing to secure gold.
Some Of the more Jealous opponents
Of free coinage point to the fact thai
thirteen months must elapse between
the election and the first regular ses.
sion Of congress, and assert that dur.
ing that time, in case people declare
themselves in favor Of free coinage,
all loans will be withdrawn and all
mortgages foreclosed. The president
is empowered to convene congress 10
extraordinary session whenever the
public good requires such action. II.
La November, the people by their bal.
lots declare themselves in favor Of the
immediate restoration Of bimetallism,
tho system can be inaugurated within
a few months.
IF, however, the assertion that loans
will be withdrawn and mortgages fore.
closed Is made to prevent such political
action as the people may believe to
be necessary for the preservation OF
their rights, then & new and vital issue
Is raised. Whenever 1t Is necessary
for the people as a whole to obtain
consent from the owners OF money ano
the changers Of money before they can
legislate upol financial questions, We
shall have passed from a democracy to
a plutocracy. But that time has not
yet arrived. The people who in 177e
rejected tho doctrine that kings rule
by divine right will not In this genera.
ton subscribe to a doctrine that money
Is Olnn1pOtent.
International B!mcsaliisn.
We are not opposed to an interna.
tional agreement, looking to the res.
iteration OF bimetallism throughout the
world, but we are not willing to await
tho pleasureo Of other governments, when
immediate relief is needed by the peo-
pie OF the United States, and they
further believe that independent action
offers better assurance OF international
bfmetal1lsm than servilo dependence
upon foreign aid. How long must w
walt for bimetallism to be brought t.
Us by those who profit by monometal.
ism! II the double standard viii
bring benefits to our people, who Win
deny them the right to enjoy those
benefits? In taking this proposition
VIC simply maintain the dignity Of TO-
100000 citizens, who are second u
none in their capacity for sell-govern-
ment.
The gold standard has compelled
the American people to pay ever In.
crasing tribute to the creditor nations
OF the world-a tribute which no one
dares to defend. assert that nation.
al honor requires the United State
to secure justice for all It's citizens e.
well as to do Justice to all its creditors
GrestinIs from the w..t