The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-09-23


be Or served at ration of l6 to 1 under
free coinage is net Q) by the economic
truth that gold and silver are worth
more for money than for any other use,
and that the mint price Of either metal,
under free coinage, must be at its hest
price and (2) by the further historic fact
th { TO 1r- -flfths Of century under free
coinage in the United St'tes, subse-
quently at a ratio Of 10 to 1, the parity of
gold and silver was steadily maintained
and economic conditions wers not thereby
disturbed.
The comparative scarcity Of the money
metals, rendering it necessary for the
United States, for the uses Of trade, TO
resort to system of token or repre-
sentative money-wbich must be re-
deemable 10 metallic mouey--in order to
avoid system of unqualified fiat money
eventually, or else as the only alterna-
tive, to allow the price of commodities to
fall to level with tie depleted volume
of our mouey-either Of which conditions
we regard as charlottesville effect Of
the demunetizati,n of silver must con-
tinue to be as it has teen, suicidal to
the best economic and industrial inte r
ests of our people.
5. The money Of our country should
be issued Immediately from and kept
under the immediate control of the gen
eral government, which is only possible
to be dore effectually where the volume
Of the money Of redemption is kept most
nearly equal to the volume of represen-
tatlve money and this equality can be
best secured and maintained by the re.
storation of silver to its full monetary
power.
8. The characterization Of silver has
paralyzed one Of the largest and most
profitable Of our Legitimate industries, to
it, silver mining, by reducing the COM
modify value Of silver more than 90 per
cent both at home and abroad, aud at
the same time by reducing the value of
silver necessarily to large extent de-
stroying both the home and foreign mar
ket for the product of our miues.
:. The demonstration of silver de-
stroying one-half, if not more, of the
money of ultimate payment-which
usually determines prices-hes reduced
the general level of prices of products of
American industry at home and abroad
from 30 to so per cent, ana has cor
reduce wages and the posi-
bility of employment at any wages, and
must continue to do so until the wages Of
our mechanics, artisans and common
lablrers and the prices Of the product Of
their industry (Which always must rise
and fall together) at no distant day
will reach the level of the wages of thU
labor element and the prices
Of its products in Europe and the eastern
continent. And as farther result, the
placing of our country upon gold basis,
and consequently on level of gold prices,
In common with the countries of the
east, the industries of our country heve
been, and will continue to be paralyzed
by the want of currency of sufficient
cheapness and volume to supply the de-
mands of trade and preserve the parity
between the value of our money and our
s. Considering our varied climate, and
the condition and equality of our soil
together with the vast natural and arti-
fetal resources and our cons quent CO.
pacity to produce commodities for the
markets CT the world with a system Of
money which is sufficient in volume to
give foil scope and swing to the energy
and iudustri.s 5 of our people, there should
he afforded to the American manufac-
tursr and producer not only a foreign
market, but protection agaiust for
eign competition which would at lest
largely supplement, if not ultimately do
way with our cumbersome and unsatis-
factory system Of protection by tariffs
and giva us Incidentally protection for
our tome industries in harmony with
scientific principles, and withhl just and
effective in its operation.
9. We believe that scarce money m ust
leItafter, as hitherto, result from the
of the single gold standard by
aw ana scarce money means dear
money. Tee growth Of our population
md the cones quent Increasing demand
FOR money, both Of which are and have
be- n, as compared with the gold proiuc-
ion of the world at ratio Of 18 to
n thereabout', and probably always will
De in this same OF gre ter adverse dis
will continue to cause as it
les heretofore caused, falling prices; and
'aIling prices must result in the destruc-
ion of commerce both domestic and
'oreign.
10 The ultimate, oIen and equivocll
adoption Of the single gold standard by
the United States which must speedily
'ouow the present efforts Of the Republi-
IAN party, If successful, will place In
he hands Of small class of people
mostly foreign aud not greatly interested
q our common welfare-the ultimate
power to control the monetary interests
Of our country, together with the means
If distribution and exchange of commo-
iities, and thereby etft9tually corner"
,ur markets both at home and abroad,
md thns take awav from the rank and fila