The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1897-09-24

ket quotations, never alluded to It
to I nor the connection between
dollars and prices, but inquired
with much severity if Dingley caused
"Let us suppose" says Mr.. Bry
an, in his Iolo speech. We art
walled in and have just wheat en-
ough to last a year and the whea
is devided into two piles, one maj
owning one pile, and another man
the other, and suppose one pile il
burned, would not the other pile o.
wheat be doubled in value, the de
mand remaining the same and the
supply being cut in two? We have
in the world two piles of money,
gold and silver. Suppose you de
Stroy onehalf the money, wipe out
the white pile, leaving the yellow
pile to do the business formerly
done with both piles, is it not APP
parent that the value of the gold is
doubled? This destruction of sill
yer has been actually accomplished
by law, and the contest now is
whether those who own the gold are
to be allowed to cut in two the value
of all the property in the world by
destroying one-half the money in
the world? Probably no populis-
tic argument is used with such force
now that wheat and silver have come
to the parting of the ways" as
this one, and none shows the sur
face indications of being more hon
est and logical. Many things have
that appearance however that are
not: People believed for many
years thst the earth was flat. It's
not SO long ago that simple color
ed man was born to fame by declar-
ting, "the sun do move" he too was
following the surface indications,
for it surely has that appearance.
The trouble with all free silver
men seems to be that they fail to
recognize the difference between a
standard of value and circulating
medium. Any government can con-
struct a monitary system. They
can have unit which they can call
a dollar, Sovereign, franc, Mark,
Ruble, Yen or Ripple, and it may
act as local measure. But it is
not a standard. and it will circulate
for exactly what the metal is worth
before it was coined or named, no
more, no less. Suppose we forget
all we know about our financial sys-
TEN, we start out to establish one.
We want bimetalism. We find for
instance that quantity of wheat
equaling one bushel, will exchange
in the market for IS $40 gr. gold
or 4I2H or. silver, so we coin IS
$40 or, gold or 4I2H gr. silver In
to a dollar. CA reward is offered
to any one who will start bimetall-
ic system on any but the marke-
value of the metals.) Have we
changed the relation between the
quantity of wheat and silver or of
wheat and gold. Then suppose at
the end of the month, year or cen
fury we concluded to stop the coin
age of the gold, the supply of gold,
silver and wheat remaining the same
one to the other] do we not find
one bushel of wheat, IS $40 gr
gold, 412H gr. coined silver, ex
at the same ratio. Evil
IDENTIFY the measuring presses con-
sumes no metal and is not a strain
on the material used. Values are
made by comparison only. Now if
the strain is not on the money as a
measure, it must be in the increased
use of the metal as a circulating
medium and as the circulating me-
dunn has increased largely the
world over, it is hard to see just
how the cutting off of the "white
pile" as Mr.. Bryan calls it, has APP
preciated the value of gold. However
we have no fear for the gold stand
ard, our free silver friends could
make a silver dollar and put little or
much silver in it as they liked, but
the price of every bushel of wheat
bought in Chanute would still be
made on the exchange rate of the
pound sterling; the standard of
value. The gold standard made
BY no government and never coined
as a full legal tender.
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w. K Morse. 4 GuilfOrd-tD non