Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1897-07-23
Washin9totl Standard
THE TWO METALS.
Continued from frs; Page

to agltatc the money question in
Europe and destroy confidence.
My friends, want to do full
justice to the gold standard. 1t never
pays man t. bc unfair, and |
want to he fair with you.
want to tell you first OF way by
which You can measure the strength
of the gold.tandard sentiment in the
United States. 1t is true that 49,
OOO,WOO Of people declared in favor OF
bimetallism, but there is Il party that
declared in favor OF the gold standard.
There is a party that maintained that
the gold standard should he kept, and
the strength OF that party's ballot in
the election should he fair test of its
strength and an index to the strength
OF the gold-standard sentiment in the
United States, and, therefore, in order
that you may know Just how strong
the gold-standard sentiment is in the
United States to-day, l state to you
that the party that declared in its
favor received $4,000 votes; and that
they carried one precinct in the United
States, and that precinct had six voters,
and they go three out of the six.
This gold-standard sentiment has been
growing for the past 20 years, and
from the last indication of its strength,
it will have likely size within the
next 200 or 300 years if it continues
to grow in the future as it has in
the past.
ave support bimetalism for two
reasons. One is found in theory, and
the other is found in practice. BIZ
metalism is better than monometalism
because, theoretically, it gives a double,
more stable and more satisfactory pur-
chasing power. And right here, we
ought to have definition of an honest
dollar, definition of sound money !;
because upon that definition of a dollar
we will build our system. Did you
ever hear a goldbug definition of an
honest dollar? And when say gold
bug, understand that do not intend
and injurious term, and use it simply
as descriptive term and as designat-
ing q particular belief. I have the
same kindly feeling for the goldbug,
when characterize him as such, that
he has for me when he calls me an
idiot and lunatic. Lunatic is the
most kindly term that is used by the
advocates of the gold standard when
they speak of us. 1 say the most
kindly term, because it relieves us of
responsibility-all moral responsibility
for our doctrines. They do it with
the best of intentions, and it does not
hurt my feelings at all. 1 have COM
PLEASANT sort of philosophy that has
been of great service to me during the
past year. My philosophy is this: If
man calls me thing which l am,
he has a right to call me such; but if
he calls me something which I am not,
his calling me so does not make it so.
Did you ever hear the definition of
an honest dollar given by goldbug?
If you know a goldbug, ask him; do
not do it if he is your friend, for it will
doubtless embarrass him. Ask one
what he means when he speaks of an
honest dollar, and he always looks
wise, and says that by an honest dollar
he means sound money. Ask him
what he means by sound money, and
he will look little wiser, if it is posi-
BILE, and say that he means an honest
dollar. 1t is hard to get him out of
this circle. If you get him out, he
will define an honest dollar or sound
money by saying it is money which,
when melted, losses none of its value.
"The melting-pot test: What is it?
Why, they say that that dollar is hon.
est which stands the melting-pot test.
That dollar is honest which, melted,
loses none of its value; that money is
honest which in the form of bullion is
worth just as much as it is now in the
form of coin. If that definition is
sound, then, my friends, we who advo-
cate bimetalism have got to learn the
science of money over from the very
beginning. Let me show you that it
is not sound. l want to tell you that
the melting-pot test is not the test of
an honest dollar. You tell me that
you will find out which is the honest
dollar by finding out which will melt
without loss. I tell you will find
which is the best money by finding out
which kind of money leaves the least
hunger and does the most justice as
between man and man. You tell me
that the melting-pot test is a correct
test of an honest dollar. 1 tell you
that the fact that gold can be melted
without loss is due to law, and nothing
else. Gold can be melted without loss
because it can be coined without
charge. 1t is law-given character.
istic; not a divine attribute that YOU
praise. But, my friends, that defini.
ton leaves out of consideration the
most important thing in a dollar.
What is the important thing in dol.
lar? Purchasing power. Where is
the test of honesty in the purchasing
power of dollar? Yet the melting.
pot test does not mention purchasing
power as part of the definition of an
honest dollar. What is possible under