Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1896-09-03

would not pat the dollars into circulation
II could only get them as any citizen
would cr, thcm, by giving something for
them At would deliver them to those who
deposited the silver and it's connection
with the transaction there ends. Such are
the silver dollars which would be issued
under free coinage Of silver at "a ratio of 10
to l. Who would then maintain the par
ity! What would keep them at par With
golds The>2 would be no obligation rest
Ing upon the government to do IL, and II
there We're. IL would be powerless TO do 10.
The simple truth Is we would be driven
TO "a silver basis-to silver monometallism
These dollars, therefore, would stand up
on their real value. II the free and un-
limited coinage OF silver at a ratio of l6
ounces Of silver To ounce OF gold would,
as some OF its advocates assert, make IS
cents in silver worth 100 cents, and the
silver dollar equal to the gold dollar, then
we would have no cheaper money than
now, and il would be no easier TO get.
But that such would be the result Is
against reason, and Is contradictcd by ex-
pericncc in all times and in all lands
Ii means the debasemcnt of our cur
rency TO the amount of the difference be-
tween the commercial and coin value of
the silver dollar, which is ever changing,
and the effect would be TO reduce property
values, entail untold financial loss, dc
stroy confidence, impair the obligations
of existing contracts, further impoverish
the laborcr and producers of the country,
CTCsttt Il UlIllC ul severity ana
intlict upon trade and commerce deadly
blow. Against any such policy am UNI
altcrably opposed.
tfmetaIlism.
Bimetallisn cannot be secured hy indie
pendent action on our part. IL ca. hot be
obtained by opening our mint, 20 the
unlimited coinage of the silver of the
world, at ratio Of IL ounces of silver to
] ounce of gold, when the commercial
ratio is more than 30 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 excess of 161s ounces of silver
TO one ounce OF gold, and while her mints
are freely open to both metals at that
ratio, not "A single dollar in gold bullion Is
coined and circulated as money. Gold
has been driven out of circulation in
these countries and they are on u silver
basis alone. Until international agree
ment Is had, IL IS the plain duty of the
United States TO maintain the gold stand
ard. Ii l. the recognized and sole stand
ard of the great commercial 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 coun-
tries and our trade with other countries
was settled on gold basis.
We Now Have More silver Than Gold.
Chiefly by means of legislation during
and since 1873 there has been put in circu-
lation more than $624, ,00o, 900 of silver or
Its representative. This has been done in
the honest effort TO give to silver, IL posi-
ble 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 100000 of silver
dollars coined in the entire history of the
United States, period of 80 years. This
legislation secures the largest use of silver
consistent with financial safety and the
pledge to maintain its parity with gold.
We have today more silver than gold.
This has been accomplished at times with
grave peril 10 The public credit. The So
called sherman law, sought TO use all the
silver product of the United States for
money AT its market value. From 1880 to
1923 the government purchased 4,500, 900
ounces OF silver month, or 81 900 900
ounces year. This was one-third of tho
product of the world and PRACTICAL all Of
this country's product. 1t was belived by
those who then and now favor free coin
age that such use of silver would advance
its bullion value To its coinage value, but
this expectation was not realized In O
few months, Notwithstanding the UMPIRE
cedented market for the silver produced
In the United States, the price of silver
went down very rapidly, reaching lower
point than ever before. Then upon the
Recommendation 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.
The Double Standard.
On the I'd Of August, lS9l, in q pRblio-s.
III we could have an international
ratio, which all the leading nations of the
world would adopt, and the true relation
be fixed between the two metals, and all
tho n1antifv nf silver which
should constitute dollar, then silver
would be as free and unlimited in its priv
ileges of coinage as gold is today. 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 re-
moved from an international agreement.
We may never be able to secure 1t If we
enter upon the isolated coinage of silver.
The double standard implies equality Mt q
ratio, and that equality can only be estab-
lished ~ the concurrent law of nations.
1t was he concurrent law of nations that
made the double standard; it will require
the concurrent law of nations to reinstate
and sustain it.
1t Favors the Use of Silver Money.
The Republican party has not been, and
Is not now, opposed to the use OF silver
money, as its record abundantly shows. 1t
has done ell that could be done for its in
creased use, with safety and honor by the
United States acting apart from otner
governments. There are those who think
that it 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.
More Than Any other Country.
We have much more silver in use thao
any country in the world except India or
China-S5O0, 900, 900 moro than Great Brit
ain; $3.50, ,oOO, 900 more than France; &4OO,-
900, 900 more than Germany; 1926, 100000
less than India and Sl25, ,0O0, ,0OO less than
China. Tho Republican party has oe-
elared in favor of an international agree
hent, and If elected president, II VIII De
my duty to employ all proper means to
promote 1t. The free coinage Of silver In
his country would defer, II not defeat, In
ternational bimetallism and until an IN
ternntional agreement can be had every
interest requires us to maintain our pres
ent standard. Independent free coinage
i ounce of gold would insure the speedy
contraction of the volume OF our cur
rency. 1t would drive at least 6OO,OOO,0V
of gold dollars, which we now have, per
manently from the trade Of the country
Ind greatly decrease our per cap,'4R shpn Ren,H- cn
lilan party to take from the circuia.lng
medium OF the country any OF the silver
we now have On the contary 1t IS pro-
posed to keep all of the silver money now
In circulation on parity with gold py
maintaining the pledge OF the Soycrnmenb
that all of il shall be equal to ge1i. rms
has been the unbroken policy or the ne
publican party since 1878: 1t has lnaug9r-
ated no new policy. 1t will keep In circuIa,
ton and as good as gold all of the silver ana
paper money which are now included IN
the currency of the country. lt Will
maintain their parity. 1t will preserve
their equality in the future as 1t has
always done in the past. 1t will not consent
to put this country on a silver oasis, Whlcn
would inevitably follow independent lree
coinage at a ratio of 10 to l.. 1t Will op-
pose the expulsion of gold from our CIR
culation.
Farmers and Laborers Suffer Most.
If there is any one thing which should
be free from speculation and fuctuationit
is the money of country. 1t ought never
| to be the subject of mere partisan conten-
ton. When we part with our labor, our
products, or our property, we should re-
ceive in return money which is as stable
| and unchanging in value as the honest
men can make 1t. Debasement OF the CUT
rency means destruction OF values NO
| one suffers so much from cheap money as
the farmers and laborers. They are the
| first to feel its bad effects and the last 70
recover from them. This has been the
uniform experience of all countries, ana