Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1897-05-19
Must Remouetize Silver Ourselv..,

The money power" of Europe will
of bimetallism until it is forced to, and
the only country in a position to do
any forcing is the American Republic
In its ability to deal with this question
the United States is fully equal to any
two European states and probably to
any three. When we consider its vast
territorial extent, it's practically I'M
limited opportunities for development
and its prospective increase of wealth
and population during the next half
century, it may we'll be doubted
whether all of Europe would be more
potent in the settlement of this prob
lem
Whatever the effect of free coinage
in this country upon the relative value
of the two metals, it is bound to inure
to our advantage and ultimately end
the blmetallic controversy. If it bring
gold and silver to parity at our ratio,
and keep them there, it will make the
whole world practically bimetallic.
The entire mass of both metals will be
linked together at that ratio and be
the same in effect as one metal. For
currency purposes some countries may
use gold alone and others silver alone,
but each will get just its share Of the
aggregate mass, and no more. The eff
feet on prices and business will be ex-
actly the same as if instead of having
81 900, 900, 900 in silver and 81 900, 900, 600
in gold, we had Sc, 900, 600, 900 of either
one alone.
Trade between gold standard and
silver standard countries will no long
er be distributed by the fluctuations in
the relative value of gold and silver,
for being at par in the United States
they will necessarily be at par every
where. Under such circumstances no
country would have any advantage
over another growing out of the differ
ence in exchange-that IS, the differ
ence in the relative values of their cur
rencies.
To do this, 1t would not be necessary
for the United States to take sall the
silver in the world" as we hear it SO
broadly declared. Nothing but the
surplus stock could possibly come here.
This ought to be obvious to anyone
who thinks for moment The silver
coin of the world Is already in use, and
it is of more value to the owners right
where it is than it would be if sent to
America. If we take care of the sur
plus bullion. that fixes the value of the
entire stock of silver in the world, and
there would be no motive in transport
ing it from one country to another.
If, on the other hand, this surplus
stock should prove to be larger than
we could absorb and use at the ratio
of 16 to 1, the effect would be to send
gold to premium. There are many
very intelligent men who believe that
this would be even more to our adyant-
age than the actual restoration of par
ity. Whether they be right or wrong,
it is at least susceptible of mathemati-
cal demonstration that with the free
coinage of silver, even though gold
were at a premium, we would be bet
ter off, as q nation, than we are to-day.
In the first place, gold at premium
would not be gold lost. If it left the
country it would Increase the stock in
Europe where the most of our great
staples are sold, make it cheaper and
thus give US better prices for our pro-
ducts.
That which did not leave the coun
try would still be in the banks, where
it is now. and constitute part of their
reserves. thus performing the none
tary function just as effectually as at
the present time The gold men as
sumo that the moment it goes to .
premium it is virtually ont Of exist
ence, which is absurd. National BIZ
metallist