The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1898-02-22

il UnitGG States. According to that plat
10 IN, the American people should seel
International cooperation in rt STORM,
bimetallism, but must maintain tn
I. Igold standard until that cooperation
10 secured.
The Republican plan is to invite~for
U eign assistance. but while we may in
vie, .rupean nations are at libert,
to refu tae invitation, and they have
thus far done so. The Republicar
platfol III, therefore, means that We
must have the gold standard as long a,
, European nations favor the gold stan
: dard, aud can have bimetallism only
when they consent to it.
Recent events have demonstrated
That Europe has turned the money
J question over to England, and Eugland
seems to have turned it over to the
English ii tiranciers, who, on the 22d o
last Septeu4 Der, met at the clearing
house, pledged themselves to secrecy
decided upon the gold standard, and
thus determined our financial policy
Is long as the Republican plan pre-
walls.
No one believes that bimetallism W i'll
prove panacea for all political ills,
out the WoEey question must be settled
bel, re o her questions can be reached.
Financial independence Is condition
precedent to reform along other lines.
The power that controls our financial
policy can control the policy of our
sov' rnment on every other subject
"ht never OCCASION arises for the ex-
ercise Of tEat control.
| SuppoS, for instance, that the mon
ey qu stlou were dropped and the fight
aga1ust Tie trusts made the main is
sue; Mucn foreign capital is invested
| N III orr E,pn IL 4
announce u at any Legislation hostile
20 trusts would be followed by the
withdrawal Of foreign capital and d
panic. III they can threaten the with
| drawal of foreign capital to prevent q
| change of our financial policy, they
| can threaten such withdrawal to pre-
vent the humiliation of trusts or the
regulation of other corporations.
Not only can this threat be made in
regard to domestic policy, but it
can be made to prevent the adoption
of any foreign policy which does not
meet With favor in Europe. We can
not pioi.ct the rights Of our citizens,
avenge an insult to the flag, enforce
the Monroe doctrine or express our
sy mpathy Win those who are strug-
ierred by the threats Of foreign inves-
tors.
The right to legislate for our people
On the moLuy question involves the
right to legIs!ate on all questions, and
until thls Snt is secured the discus
sion vi othci question will avail moth
ing.
When we have released ourselves
from the dlctation of foreign finan-
clcis and ovcrthrown the local money
trust which controls our financial pol
ICY we snail be in a position to under
take the determination OF other trusts
aud the projection of our people from
ali forLns vi monopollstic oppression.
The other planks Of the. Chicago
platform are not abandoned. Those
who favor free coinage at Ii to l ad
vOcate and will carry out all the other
reforms enumerated in the platform,
but they will not lessen the emphasis
placed upon the money question by
the party itseit in its latest utterances. |
Bnt there are some who admit the
necessity for bimetallism and who con-
s1ss that it can only be secured by in
dependent action, but suggesta change |
of ratio.
They ask, why rs to 1?
L answer that there are several rea-
sons. Sixteen 10 is the ratio at which |
we had free coinage from 1884 to 1873
the gold and silver COINS in circulation,
and 1T Is more favorable to gold than
the ratio now existing in most Euro
pean countries.
TO change the ratio by independent
action, besides changing existing con-
tracts, lessening our currency and in
curing great expense, would put us
out of harmony with other nations, es-
pecially would it put US out harmony
with France, the European nation n Jst
friendly to silver, where the ratio is Is
12 to1.
If by international agreement we
should change the ratio to 30 to /, for |,
instance, 1T would necessitate the re-
silver into coins twice as large (pro-
vided the change was made by increas-
Ing the size OF the silver coins).
TO double the size Of the silver coin
of the world would diminish by one
half the silver money of the wood; it'll
would diminish by One.quarter the en-
tire volume Of metallic money of the
world.
Such shrinkage III the volume of
money would, In effect, add billions of
dollars to the debts OF the world.
should so great an injury be done with
out the necessity for it being proven
beyond reasonable doubt?
Bimetalllsts contend that gold and
silver have been driven aparS by hos
tile legislation, and that thev can be
brought together by friendly legisla-
tiOn.
They contend tnat Legislation favor
able to gold has increased the purchas-
ing power of an ounce OF gold through
out the world and lowered the general
level OF prices, while the same Iegisla-
tion has lessened the demand 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 silver 10
a point where the mints will require
all the surplus silver OF the world, and
thus, by raising the gold price Of silver
and lowering the purchasing power of
an ounce of gold, will restore the parity
| at IL to /, and thereaft ,r maintain the
parity at that ratio.
1t Is true that som3 bimetallists do
not believe that this nation alone can
maintain the parity at that ratio but
shall the great majoriy who do believe
surrender their conviction to the com
parstively few who doubt?
| Upon what principal can minority
demand Of a majority the right to die
tate platform ? Those who are op-
| posed to the gold standard must act