The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-09-10


that every country which has attempted
to retain the silver standard or the con-
current free coinage of both metals ut a
ratio widely different from the commercial
ratio of the two metals has lost all of its
gold and retained only silver currency and
true monometallism. while other nations
making gold the standard and coming
silver on government account circulate
both metals in large quantities. approach
ing thus more nearly to true blmetallsm
than those which by the free and unllInlt-
ed coinage of silver at ratio widely
different from the commercial ratio of the
two metals obtain only silver monometal-
lism. The condition of the people of the
countries maintaining the gold standard.
Cs what the trainers of this platform term
gold monometallism, is one of vastly
greater prosperity than that of the peo-
pie of the countries maintaining the silver
standard. There is more money per cap
ita. better wages, better homes. more COM
forts of life. more education and more
general intelligence among the people of
the gold standard countries than among
those of any of the countries having the
silver standard. Mexico, which is prob
ably the most prosperous of the silver
standard countries, has q total of S43o
per capita for its people. the South Amer
lean States per capita of less than ~
aside from the uncovered and deprecated
paper. China 1888. the Central American
States $3.50. while Germany has SlI.o9
per capita. Great Britain SCOTS per cap
ita. United States S22.57 per capita. Meth
erlands S24.25 per capita. and France
S35.II per capita. ''Monometallism' has
indeed locked fast the prosperity of an
industrial people in the paralysis of hard
times wherever it has been established
by the process proposed by this platform.
viz: the unli1aited coinage of both met
ais at ratio widely differing from their
relative commercial value.
Gold monometallism is a British policy
anq mas brought other nations into nnanciai
servitude to London.
1t is also a German policy, French
policy. Belgian policy, an Austro-Hun-
garian policy, a Netherlands policy.
Danish policy. Russian policy, Chilian
policy, Peruvian policy. a japanese pol
icy, and in fact the policy of the most
enlightened and progressive nations the
world over. If the United States were to
abandon her present system and under
take greatly enlarged use of silver With
out the cooperation of other nations she
would abandon the company of the most
intelligent, enlightened and prosperous
nations of the world and join the ranks of
the weakest and least intelligent nations.
all of which are fastening to adopt the
gold standards as rapidly as possible.
1t is not only un-American but anti-Ameri-
can and ii can be fastened on the United
States only by the sitting of that spirit and
love 10y Of liberty which proclaimed our poli5i-
cal Independence in lT16 and 1t in the
war of the Revolution.
The spirit and love of liberty which
proclaimed our independence in 1II6 and
which is still strong in the minds of the
people of the United States is not in favor
of reducing the citizens OF this country 10
the level of poverty, degradation. ignor- |
ance and practical enslavement which |
characterize the condition OF the masses |
in the few remaining silver standard coun- |
tries of the world to-day. The only at
tempt to ''stifie the spirit OF love of lib !
erty ever made in the United States be |
gan in 1861 by the very party and the |
Fery leaders who are ROW proposing to de- |
grade the working people OF this country |
to level of those least intelligent and !
prosperous on the face Of the earth.
We demand the free and unlimited coinage |
Of both silver and gold at the present legal /
ratio of IS 70 l without waiting for the aid /
or consent of any other nation.
A policy which all the intelligent nations |
Of the world have abandoned since the |
enormous production of silver has brought |
It TO a ratio of "a to l with gold and the |
divergence still increasing. The product
Of the silver mines of the world since 1878
IS practically one-half as much as that
produced from the mines of the world in
300 years preceding that date, as shown
by the highest official authorities.
We demand that the standard silver dol
lars shall be full legal tender equally with
gold for all debts, public and private
1t is now "a full legal tender for all !
debts, public and private" except where
such men as William NJ. Stewart John =. |
Jones, Arthur Sewall, John P. .Altgeld, |
John r. Mclean and other silver leaders
deprive it of its full legal tender value by |
making their contracts and loans and |
rents and interest payable by the poor in |
gold only. Every one of the 450OOO,OOO |
silver dollars which we now
have is a full legal tender for all debts.
public and private, and the party which |
asserts even by implication that this is
not the fact intends either to discredit |
those dollars or to deceive the people, or
both.
We favor such legislation as will prevent
for the future the characterization of any |
kind of legal tender money by private con
tract.
An excellent plan; but the fact that the
leiueTS Ol lne parry pIopos1uS lllS now
refuse to follow that plan in their private
casts a suspicion upon the good
faith of this public assertion.
We are opposed to the policy and practice
of surrendering to the holders of the obliga-
tions of the United States the option re-
served by law to the Government of re-
deemipg such obligations in either silver
CON or gold coin.
Every holder of obligations of the Unit
ed States can receive his pay for them in
silver if he desires or in gold if he desires.
If the Government were to insist on paw
ing in one metal to the exclusion of the
other it would Immediately discredit it's
obligations and at the same time iniure
the standing of a large share of the money
which it has itself issued and promised by
implicat ton or in words to keep as good as
the best While these obligations call for
payment in ''coin,'' that term, when the
acts authorizing the bonds were passed.
related only to that which was the equiv
alent of gold in value and purcha sing pow
er. and to attempt to take advantage of
tho fo.t that the metal Of which n ,,,,+