Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-11-05

DSOA Vi 10 oO " tuC hoho6SA
for a gold standard as the insistence
upon the ratio Of 16 to l. They can
tolerate expressions friendly to silver.
They are willing even to approve q
national or international provision for
some larger use of silver. Most OF
them will say that something should
in some way be done for silver. They
do not oppose bimetallism, provided
only that their definition of the term
be accepted. They raise no objection
to silver as part of monetary sys-
TEN, provided 1t is assigned its proper
position and placed in salutary, judi
cious subordination. 1t is the definite,
rigid claim for free coinage at the
present ratio which shocks their moral
sensibility and arouses their virtuous
indignation. Kind words for silver
may be spoken and heard without Of
tense, but a clean cut declaration for
a ratio Of 16 to which cannot be mis-
construed or avoided sets the whole
goldbug faculty in search of epithets
for denunciation. The explanation OF
this is very simple. The ratio Is the
keystone of the arch of bimetallism.
A restitution of silver coinage with an
indeterminate ratio or with any sub
stantially different ratio from the
present would be of no considerable
value to those in whose interests 1t is
demanded. Primarily the silver con-
troversy is a question between creditors
and debtors. Shall debtors be required
to find gold or its equivalent for the
discharge of their obligations or shall
they be granted an option to pay their
debts in either silver or gold? This is
the essence of the issue. But the OPP
ton Is Of no value If the amount of
silver required for payment is indie
terminate or fixed upon a scale with
any reference to the relative market
value of silver and gold. Unless a
restoration Of the double standard
means a restoration of the ratio 1t has
no significance. The material question
is not whether silver may be used for
discharging obligations, but how much
silver will be required for satisfying
existing obligations. The concession
of movable ratio is a surrender OF
the whole argument for silver restora-
ton. AS long as silver has any market
value, as much per ton as coal even,
the most extortionate bondholder,
European or American, will not object
to receiving for interest or principal
silver at the price for which 1t can
be exchanged for gold. Let the inter-
est extorters fix the ratio and contro-
versy, at least all serious or acrimon-
ious controversy, will cease. The gold
advocates never discuss the honesty of
the silver dollar. They simply full
inmate against the dishonesty OF any
dollar which is not the equivalent OF
gold. They never discuss the relation
between debtor and creditor. but dog
assume that any debtor who
seeks to discharge his Indebtedness in
not the equivalent Of gold, is
attempting to repudiate his obligations
and cheat his creditors. You may
search the Congressional Record and
the editorials of the metropolitan
dailies for the last twenty years for
any attempt at giving reason why
a silver dollar is not honest money for
debts, and you will search
in vain. You will find only constant
y reiterated assertion that because sill
YER at the present ratio and under
present conditions is cheaper than gold
therefore it cannot honestly be used in
payment of debts. Their argument, or
rather their substitution for argument,
Is an assumption that the dearest
no matter by what accident or
levice it has been made dearer. is al
ways and necessarily the only honest
The only means for discharg-
ng debts are property and labor. No
,ne has suggested, or can suggest, any
other fundamentally for the payment
If debts than the wages of labor and
he sale of it's products. 1t follows log
cally and indisputahy that the ques-
ion of equity between creditor and
lebtors is question Of prices so far
Is they are influenced by legislation
liking a money standard. Yet can any
,ne point to gold orator or editor by
whom discussion Of this question has
,een even attempted. They never dis
,uss it, and they dare not discuss it.
They go around it, ignore it, get above
t or below it, but never face it. They
ak about parity and the moral neces-
ity that silver must be measured by
,old. They tell us that Europe has
liked the standard Of money in which
lebts must be paid and American debt
RS will be dishonest regulators if
hey refuse to accept the foreign decree
IS binding upon them. But they never
make an excursion into the realm Of
discussion as to the real equity of re-
luiring our debtors to find gold for
atisfying their promise to pay Ameri-
an dollars.
c. J. HILLYER.
Alas for King George.
Oh. IL King George had only under