Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1898-03-17
oEBASED MONEY STILL WANTED
Dryanites Continue to CiamOr for
sBime tn lIism."

A few days ago about 800 democrats
from the five congressional districts in
the southern part of the state, embrac-
ing 40 counties, had conference at
East st. Louis. About all they did was
to agree that the new senatorial appor-
tionment n.rst be fought in the courts
though they are by no means conf
dent of success-aIM to adopt a resolu-
ton which is in part as follows:
I'VE indorse the Chicago platform OF 1896
in full and without reservation, and we
favor the nomination of william Jennings
Bryan for president in 1900. We deem ii the
duty of the democratic party to place tick
cts in the field for every Office, the nominees
to be in full sympathy with said platform" q"
Whenever Bryan's name was men
toned there was much cheering. There
was also considerable applause when
ever the speakers referred-as they did
often-to "bimetallism at the ratio of
sixteen to one.'' Free silver was men
toned only once. A new war cry"
seems to be taking its place.
There was not one of these speakers,
"bimerallism at the ratio of sixteen to
one" can be made to work except under
that existing system of limited coin
age on government account, which the
Bryanites object to and want to get
rid of.
Not a single orator tried to explain
how, by some Legislative device, 371H
grains of silver, worth 4i cents, can have
when coined freely in unlimited quanti-
INT Jni- thn rch ho oCip
of % is grains of gold when coined into
a dollar.
But when the gold dollars and the
free coinage silver dollars had not the
same purchasing power they would not
circulate concurrently. The latter, be-
ing the more valuable, would 60 out of
circulation entirely, and the former
would be the only dollar in use. Then
there would be no "bimctallism" and
the monetary standard would be de-
preciated silver standard.
In a magazine article written by
Bryan early in 1896 he stated that Eve
had the bimetallic principle in opera
tion in this country from 1892 to 1894,
and yet gold was at a premium and sill
yer was the money in common use"
That happened simply because the law
makers mistakenly declared that an
ounce of gold was worth only fifteen
ounces of silver, while it was in reality
worth about fifteen and one half ounces.
If the Bryanites were in authority
and declared that an ounce of gold,
commercially worth 33 ounces of sill
YER, was worth only 16 ounces, silver
would become 1.-The money in common
use" Bryan himself will not venture
to deny that. Then practically there
would be no more real "bimetallism'
than there was between 1892 and 1884.
But when congress overvalucd silver
a little in 1892 no harm was done by
it. There were not billions of existing
contracts made on n gold standard
basis of greater value. There were no
contracts. Therefore nobody was
swindled by the adoption of a false
ratio, which assumed that 371H grains
of silver were worth 24M grains of
gold when they were really worth a
trife less than "a grains.
To-day, however, 371A grains of sill
yer are worth only a shadow over 10
grains of gold. To declare that that
many grains are worth % 1-5 grains
of gold and when coined shall have the
same debt-paying power as % 1-5 grains
of coined gold is to play havoc with all
existing obligations-amounting to bill
lions-all based on the gold dollar
standard.
But no speaker at this democratic
conference deemed it wise to refer TO
the consequences of the adoption of
a bogus "bimetallism" which would
substitute for dollar having the pur-
chasing power of % is grains of gold
n dollar which at the outset would have
the purchasing power of only 10 grains
of gold, and which would be even less
valuable in the course of time.
The democrats who met at East st.
Louis are still for fraud. Whether they
ask for free silver at the ratio of 16
to /" or "bimetallism at the ratio OF
16 to J." they ask for the same thing
debased money, to be made legal ten
der to aid debtors in swindling cred
itors.
This will be the essence Of the plat
| form which the democrats will adopt
Mt their state convention in May, and
on that platform they will endeavor to
elect state eHicers, congressman and
| members Of the legislature.-Ch Chicago
Tribune.
POLITICAL DRIFT.