The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1898-04-08

the time wanting more. This is the
class that Mr.. Wright is supporting. he
has been quoting Jefferson and Jackson
to us and perhaps it would do him gooo
to see what they said on this question OF
getting something for nothing. ss,o
Thomas Jefferson, ''I believe that bank
ins institutions are more dangererous TO
our liberties than standing armies. RI
ready they have raised up q monieu ut
istocracy that has set the government AZ
a defiance. This issuing power snoa'o
be taken from the banks and restored 20
the government and to the people 10
whom it belongs. Lst the banks exist
bu. let them bank on treasury notes."
Said Andrew jackson. III congress
has the right under the constitution TO
issue paper money, it was given to them
to be used by themselves. and not to be
delegated to individuals or corpora
TONS"
All that bimetallists ask 10 a return to
the gold and silver coinage OF the con
stitution and the issuance OF paper mon
ey by the national government. Can
this mean that they want something
for nothing?"
In regard to the next proposition.
"That the U S government can't main
tain the ratio OF l6 to l, that at that
ratio the parity cannot be maintained.
Bimetailists advocate the ratio OF 10 10
1, because, for ages, that has been the
average ratio Of production. that to
adopt any other ratio would necessltate
tue recoinsncs oil all our preeent silver
dollars, which would be to the loss OF
either debtor or creditor, that the price
of silver ard the prices Of commodities
/ have fallen in almost the came degree
and to restore the former level o. prices,
to restore the parity 0eteen money and
! e mmadifies, We must return TO the
ratio OF Is to /, there is no other plan to
q. -. ,s-ss. and Ioeiieye that sm
sale in doing so, that the ratio OF SS to !
| ia not the correct ratio between the two
mrta,s. L caunot be, the discrimina-
Il ia .sa,nsj siiver has resulted in a
mited demand ior that meta. while
the demand Tor gold Is unlimited. This
fsr alone d,spuses of the SS tr theory i.
II Tue rst,o o. 16 to does not work, II
can he cnsnssd very easilS. After It is
once tried, then it is time to talk about
! some other ratio.
i France practically alone for 40 years
maintained the ratio of l54 tol, hel
doilars we're always At q parity, aud i
, France can maintain her dollars al 1
parity at fixed ratio, the United States
also can.
, The only way to maintain parity ls Il
make both metals srse legal tender an'
: without disseminating against eithe
metal. Parity cannot be maintained n.
!, granting to one metal the rights of fu
:, legal tender and restricting or limitin
:, the rights of the other. The law Gays
o 1T shall be the policy of the governmen
D to maintain the two metals at parity.
J, What was meant by that? 1t Was mean
> that neither metal was 10 be dIscrim
nated against in any shape or manne
It Was meant that the two metals shonl
: walk arm in arm in the payment OF deb
|. etc; That is the only way that the part
r can be maintained. Just as sure as 70
:. discriminate against one OF the metal
le just so sure will the parity becom
1t broken.
'r As to the next proposition, that
.e Intrinsic value"
D, The word ''intrinsic" means interna
6. inherent. opposite 10 rxtrinsic. Their
1t fore anything that possesses ''intrins
/. value" must have an internal
inherent value.
= Does gold possess "intrinssc value
d The only use in the word by whis
q gold serves man, is that OF money.
.e has no value within itsefl. take away n
le money demand and it would be pract
st cally worthless. An act OF Law made
y a money metal. the demand for it ga'
g to it value. Value is created and cor
q trolled by the law Of supply and deman'
q Therefore ii follows that gold has no mol
intrinsic value than any thing else.
9 Mr.. Wright Gays; Congress can legis
d late that piece of paper ia ten dollars
q money but such paper will no. be 81
o chanetable at par with q ten dollsr go
piece unless congress further pledges Il
It revenues OF the nation to redeem it
u gold or to maintain The gold standard
,e Lat us see, at the beginning OF the civ
d var the natien found itself withol
to money. Immediately s6o, ,OO0. 600
Id greenbaeks were issued, they were mao
- full legal tender and were based q
epin. The-e greenbaeks hoated on q pa
- itI will, gold. wherever gold vent tn,
d sent. Al snbseqnens issues containe
the exception elanse." These ieeu
d deprecated and at one time it require
!, % IS to purchase 81 in gold. Here Ne ba,
+" TWO classes OF ereenbacxs. both based q
t coin, one maintained it, parity with kol
o. 'ha other deprecated, why was this
rs Simply because one was full legal ter
1t der. the other was not. Therefore
n 'olloss shat money is q creation of la,
;, ard has no intrinsic valus whatever.
Ie And now we come to the last propos
y ton. THAT the cure for our 6nancis
le lille is continuation Of tie gold stand
ID ard" This is part of financial ecienc
ID that could never understand. how cor
. dftions brought about by certain pol
b cy could be cured by continuation {
d that policy. have been informed b
:. men yereed in medical science. thai
b when one poison IL taken into the hu
p man system that thers has TO be RI
10 other poison taken to counterfeit Tn
,r first one, hut nave never yet heard of
,r person taking dose OF strychnine b
y q mistake, and then taking another dos
II to kill the effects Of the first one. Ther
ot Won d be no difference it seems to M,
10 between that, and continuance of th
D. gold standard to cure conditions brougt
fe about By that policy. The gold staudar
,g is British invention. It was born !
es England and there is where it belong.
a 1t has no place on the soil Of fro
in born union. God monometallism mear