The Roanoke times. (Roanoke, Va.) 1897-1977, 1898-02-08

which CONTROLS our financial policy we
shall be in a position to undertake the
exterminStiou of other trusts and the pro.
lection of our people from all forms of
monopolistic oppression
"the other planks of the Chicago plat.
form are not abandoned. Those who
favor free coinage at 16 to l advocate and
will carry out all the other reforms emu.
n Grated in the platform, but they will
not lessen the emphasis placed upon the
money question by the party itself in Its
latest utterances.
"But there are some WING admit the
necessity for bin,etallsm and who confess
that il can only be secured by inderen-
dent action, hut suggest change of ra.
ito. They ask why 16 to /? answer
that there axe several reasons. Sixteen to
/ is the ratio at which We had free coin
age from 1884 to 1878. 1t is the ratio
now existing between the gold and silver
coins in circulation, and it is more favor
able to gold than the ratio now existing
i'll most European countries.
"To change the ratio by independent
action, besides changing existing con-
tracts, lesseping our currency and incur
ring great expense, would put MS out of
harmony with other nations; especially
would it put us out of harmony with
France, the European nation most
friendly to silver, where the ratio Is 10
1-2 to 1. If, by international agreement,
we should change the reiio to 30 to l, for
instance, it would necessitate the recoin-
age of more than four billions of silver
into coins twice as large (provided the
change was made by increasing the size
of the silver coins). 10 double the size
of the silver coin of the world would di'
minish " one half the silver money IF
ha W. rl1. diminish nv
quarter the entire volume of metallic
money of the world. Such shri nkuge
in the volume of money would, in effect,
add billions of dollars to the debts of the
world. Should so great an injury be done
without the necessity for it being proven
beyond reasonable doubt?
''Bin etallsts contend that gold and
silver have been driven apart by hostile
legislation, and that they can he brought
together by friendly legislation. They
that legislation favorable to gold
has increased the purchasing power of an
ounce of gold throughout the world and
lowered the general level of prices. while
the same legislation has lessened the de-
mand for silver and lowered the gold
price of that metal. They contend that
the restoration of the free and unlimited
coinage by great nation like the United
States will increase the demand for sill
yer to point where the minis require all
the surplus silver of the world, anu thus,
by raising the gold price of silver and
lowering the purchasing power of an
ounce of gold will restore the parity at
1G to l, and thereafter maintain
the parity at that ratio. 1t is
true that some bimethllists do not
believe that this nation alone can main
tain the parity at that ratio, but shall the
great majority who do believe surrender
their conviction TO the comparatively few
who doubt? Upon what principle can
demand of the majority the
right to dictate % platform? Those who
ale opposed to the gold standard must
net together, and the plan of action must
be determined by the majority. The
moment the ratio of is to 1 is surren-
dered, our silver plank loses it's force
These who oppose the ratio of 16 to 1are
not agreed among them selves. No consid-
cradle body of men ask for any other
specific ratio. One man says 20 to /,