The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-09-09

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disappear. 1t is said that law cannot
create value. No. but law can create
demand. The demand for any metal de-
ponds upon the use to which IL can he
put. II 1t can be made into legal tender
dollars free of charge every one wants 1t,
every one has property, time or services
to exchange for dollars. The price Of sill
yer is low because there is small demand
for It, There is small demand for it be-
cause the law prohibits its greater use,
its coinage into money.
Gold men say that bimetallism would
double the value Of silver and silver mine
owners would be enriched. The Walt e
of gold has been doubled by law in the
last 25 years; 1t will buy twice as much.
If IL is right to double the price of gold
and enrich the gold miner, why Is 1t
wrong to double the val1e of silver II that
silver is needed as money and If larger
circulation will benefit the whole coun-
try. But IL bimetallism should double
tie value OF silver bullion there co uld be
no so cent dollar. Because 80 cent
dollar means ore Of two things: Either
that the uncoined silver In the dollar is
worth only fifty cents or that all prices
would be doubled and a 1llar would
then buy only as much as fifty cents
buys now.
If anyone could take 41eK grains Of
silver to the mint and have it coiued into
a dollar, free Of charge, no one would
sell It for less than a dollar. Then
coined and unCoined silver would be
equal In value. If dollars sank in pur-
chasing power to the present level of
bullion then tire miners would make no
profit. How could dollars fall more than
half in purchasing powerP Only by being
more than doubled in number, not only
in this country bat in the co nmercial
world.
The gold and silver now In us3 is the
accumpl alton of centuries 1t cannot
be doubled in ore year nor in fifty years.
1t Is said that IL We should return TO BIZ
n netallism that gold would go to prem
ium hers and then no capital would come
to this country for investment. Gold is
and Mexico, yet foreign capital Is being
more largely Invested there than here.
According to the report Of the American
Board Japarese miLisser S4O0, 900, 900
was invested in 1895 in Japan in new
enterprises or in ehlargiug oll ones.
The Republicans boast that from
1S9O.1S02, one most successful period
in years, $40, 900, 900 was invested in this
country in new enterprises or in enlarg-
leg nd ones $50 600, 900 for the United
States, under the gold standard and
SiO0, 900, 900 year for Japan on the sill
yer basis. Why9 Because Jspan's mills
and factories are making money
of them go to 80 per cent year. Tie
premium on gold encourages exports.
For instance: Suppose that the prem
iums on gold is 100 per cant. aud that
a Jap can make yard of a certain kind
eq1al to 25 cents in our money tecause
our money is as good as gold. The Jap
pays duty Of 80 per cant on his yard
Of silk. Fifty per cent of 20 cents is 12H
cents, and pays 2H cents for freight and
charges which makes the silk cost him
40 cents in our money when laid down
in our markets. If he can sell it to us
for so cents he makes q profit of 10
cents in our money which, as gold is
at 100 per cent premium, he can exchange
for 90 cents in his money. His original
makes 200 csnts profit on IT, or 40 per
cent. Moreover, the Jap buys our latest
and most improved manufacturing ma
cbinery. They usually buy only one
machine Of kind and make many
othe just like it. They are operated by
skilled labor whose wages vary from 10
to 40 cents per day. In competing
with us the Japs, therefore, have the hest
machinery, the cheapest labor AID 100
per cent profit on their moLey in addition.
But the same 100 per cent profit cf their
money di-courages imports from gold
standard nations. Suppose we send a
stov1 to Japan or Mexico, a stove that
sells here for SEQ. We must charge the
Mexican or the Jap $40 ia their money
in order to re lize $50 on 1t In our money
But they say "our morey buys as much
of every thing except Of the things you
send us. Your prices are getting abomi-
nably high. We won't buy your stoves
at any slch rate. We will make stoves
for ourselves or go without" This 100
per cent premium ON .gold is bonus to
that amouut on gll things sent to us aud
a handicap to that amount on all things
that we send to them.
The gold standard induces the boarding
of money by constantly increasing it's
val1e. 1t discouraees production of
wealth and employment of labor by low
ering the price of all property and pro-
ducts. 1t paralyzes manufacture and
trade by giving a bonus to our most
dangerous rivals. 1t breeds trusts and
monOpolies by increasing the struggle
for existence. 1t Conascates more and
more OF the property of debtors flr the
undue benefit of creditors by increasing
the purchasing power of the dollar. 1t
induces condition Of great wealth and
extreme poverty which threatens the