The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-16
SILVER MoNoMETALLIsM.

The John p. Alleged party (1mited),
which met in Chicago last week, induced
the press association to send its resolutions
over the country. of which declared
that il "favors the immediate establish
ment of bimetallism in the United States
through the free coinage of both gold and
silver at the ratio of 16 to l." and so on.
Those men who have read nothing but
Coins" pamphlets. and who are happy in
the delusion which his statistics and state
ments contain. may call the free coinage
of both metals bmetalism. Those unsat-
isfied persons, unfortunate and vengeful
place seekers, who sit in offices and talk
day in and day out about bimetallism can
accept the words quoted above as an ex-
PLANTATION of bimetallism because they have
arrived at a mental and moral condition
where they can accept anything The can
did and intelligent man, however, cannot
accept any such definition. He has read
the works of men who are honest and sane.
He knows that when the market ratio of
the two metals is SO to l, the coming of
them on an artificial ratio of 16 to will not
tend to make both metals circulate side by
side as money but will drive all of the
money made of the dearest metal out of the
market. He knows it instinctively. just as
the child knows that the larger apple is the
more desirable and takes it when offered
the choice. He knows as a that he
will not give bushels of wheat to pay an
obligation which may be paid with oats,
when he can exchange a bushel of wheat
for three of oats. No man will pay debt
with gold dollars when the gold in each of
them will purchase the silver in two silver
dollars and enable him to pay two dollars
of his indebtedness. If he has read any of
Jeffersons works, his judgment viii tell
him that in order to have the silver and
gold dollar circulate side by side the bullion
in each must have the same market value
When the ratio was Is to l the gold had
the higher market value and left the coun-
try, and silver monometallism prevailed
He knows that it has been the universal
experience of the civilized world during
two centuries that the money which is
made OF the cheaper metal piece for piece
will drive the dearer out of circulation
Why, even these men who chatter about
bimetallism will pick out the smoothest
nickel to pay car fare because they regard
it of less value than the newer one.
The dictionary defines bimetallism as the
concurrent use of both gold and silver as
money" Coinage, to support the concur
rent use of both metals as money, must be
so arranged by law as to make the dollars
of equal intrinsic value or so limited in re-
gard to the coin of better value as to en-
able it to pass current with the other. The
free and unlimited coinage of 49, so
or even 80 cents worth of silver
into dollars would drive all gold out of
circulation, as it did in 1900 Gold would
not wait until the coinage of cheaper
dollars We're begun; silver recommendation
would start in at once, and the United
States would fall into line with China and
Mexico.
The political fragments who resolved
themselves into a Silver Republican party
in Chicago last week probably know that
this bimetallism is silver monometallism.
So should every candid man in the country
who can use every day illustrations.