The herald., 1897-07-04
1S56:1S6O::1S96:19OO

Advocates of the gold standard de-
light in referring to the fifty-cent dol
lar that would be in use under the sys-
tenn of bimetallism, which the people Of
the United States are asking to have re-
established as the fixed financial policy
of the country. This is not a correct
statement of the case. An ounce of silver
will to-day purchase as much of the
average products of the country as it
would twenty years ago, or as it would
have done on the average during the
past one hundred years; while an ounce
Of gold will purchase twice the average
amount Of the products of the country
that 1t would twenty years ago, or twice
the average amount of the products that
it would have purchased during the last
one hundred years.
By what do we measure values? At
the present time all values are measured
by gold. By this measurement silver is
worth about fifty cents on the dollar.
By what do we measure gold? The
gold monometallist says that gold is
worth one hundred cents on the dollar.
Measured by what? Measured by gold.
Yes, dollars worth Of gold is gold
dollar; is worth a hundred cents in gold.
That is no measurement at ALL You
might just as we'll say that a bushel Of
wheat is worth sixty pounds Of wheat.
That gives no diea of value.
By what then is gold to be measured?
Evidently the only way to measure the
value of gold is to compare it with the
value of the average products of the
country. If silver were measured that
way, and if an ounce Of silver will pur-
chase as much of the average products
Of the country today as it would twenty
years ago-which is admitted-then sill
yer measured by that standard is worth
just as much as 1t ever was; and if it
was worth one hundred cents on the dol
lar twenty years ago, then 1t must be
worth one hundred cents on the dollar
now. And If gold is worth twice as much
as silver. then a gold dollar must be
worth two hundred cents.
That is what is the matter-with the
country. 1t is trying to pay its debts
twice, when it should only be called upon
to pay them once.
Let us see. At the close Of the
war the national debt was in round
numbers about s2,S0O, OOO,O ,OOo Today
it is only about one-third that
amount, and yet, after paying off
two-thirds of the national debt, it will
require nearly as much of the average
products of the country to pay the re-
naming third as it would have re-
quired thirty years ago to have paid the
three-thirds. What progress have we
made in paying the debt? Gauged by
the standard of produce we owe nearly
as much today as we did thirty years
ago. After paying nearly $4,000, 600, 900
the debt has not been materially de-
creased.
What is true of the nation Is equally
true of the states, counties, municipali-
ties and individuals. Just so long as the
moneyed men of the world-the loaners
Of money-can compel the people to pay
tuelr ueUlS III ZUU-CeuL QOlldr, Just SO
long will they insist upon that course.
And just as long as the common people
will consent to assist in piling UP vast
fortunes in the hands Of a few, by pay
ing them twice as much as their due,
just so long will the rich continue to be-
come richer and the poor to become
poorer.
The Bryan campaign of 1896 was to the
country what the Fremont campaign
was in 1856-fortY years ago. 1t was the
educational period leading to victory
four years later. AS the educational
campaign of 1856 against the slave pow
er was followed by the victory of 1860 in
the election of that great American
commoner-Abraham Lincoln-so will
the educational campaign of 1896
against the moneyed power be followed
in 1900 by the election of the peoples
champion of great principle, and today
it looks as though William Jennings
Bryan would be that choice.
AS 1856 was to 1860 so will 1896 be to
1900.