The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1898-03-25
Tht 9e,uorrat.
A Young Man on Bimetallism
Crawfordyille. March, 1898,


To THE EDITOR:
NV attention has been drawn to an
article published in the DE&oCRAT of
March IL, 1898 from the pen of Geo. "
Wright. and it was both with surprise
and disgust that perused it. Surprised,
that it came from the pen of man,
who, during the campaign OF 1896 was
prone to talk of the wonderful effects OF
tie bimetallic system, and of the grand
principles and great patriotism OF VIM.
Bryan. Disguised, to think that man
of bis prominence would show his ignor,
rance in such manner on this great
question.
1 MAJ be presumptuous OF Inc 20
attenrt to reply to Mr.. Wright, froU
the TACT that / will moi be voter for
four ears. but az he undoubtedly needs
some enlightenment on this question, L
will sttempt to give the required in
lorna ion. Ills article only confirms
my belief that the forces Of the "Gold
Trust" are at work to capture the Deo,.
ocra,ir party in 1900 lie undoubtedly
true And in the out set let us say thai
We have surely come to parting OF
wave. Those who favor q single go d
standard aud q bank currency shcu.d
take their stand on that side of the
question, and those who favor bime :
alhsm and national currency, take
their stand with those advocating ths,
policy. There is no middle ground. The
International phantom has vanished
and there is only two aides to the greas
question, and every voter will have 10
cast his ballot Tor one or the other. Tn
democratic party has always stood, ana
is today standing for a sound and stab'e
monetary system, it has always been il
favor OF sound money, the soundess the
world ever knew; consisting OF gold
aud silver and paper currency issued
by the national government. Demo
cratic principles OH the same subject
never change. The party may change
but that does not do away with the old
principles. And so cay that the Demo
cratic party was never gold standard
party, and never did declare for gold as
the sole standard Of values, but on III
contrary, it stands today. on the fnsn
cial question, where it stood at the
very foundation Of this government
AMI it is..useIess. it ia nonssnical. to ash
such questions as Mr.. Wright ASKS, such
as, shall the democratic party return
to sound democratic principles
after the first coinage laws we're en-
acted, the question OF the free coinag,
of gold and silver Was never an issue
every one irrespective of party voted OIL
the question. Daniel Webster, Ameri
cas- greatest constitutional lawyer said
81 am certainly of the opinion that gol,
and eilyer at rates fixed by congress con
stitute the legal standard OF value il
this country and that neither congres
nor any state has authority to establis
any other standard or to displace thi
standard"
Mr.. Wright in his article says: sTher
is as much reason in plowirg with 3
old fashioned wooden pillow share becaus
our fathers used it, as there is in sayin
that silver dollar in its own merits {
the ratio OF 16 to would be equal to
gold dollar, in face Of the TACT that I'll
commercial value has so changed that
now takes 80 grains of silver to buy
grain OF gold. The ratio fixed by Jeffe
son was Is to ], etc."
True the ratio was fixed at 15 to /,
the first coinage laws. In 1855 Il
American congress adopted the Spsnii
milled dollar, as the basis ard unit
our money. This was the Spanish siIy
dollar. Our fret coinage law was er
acted in 179S. After giving to bol
gold and sIlver free and unlimited col
age, it fixed the size of the silver doll
in the following language:
''Dollars or units each to be Of the val
of the Spanish miIled dollar as is nc
current, and to contain three bundr
teenth parts OF grain of pure silver
The gold dollar was to contain "a !.
grains of pure gold, but the coinage
gold dollar was not provided for.
was made the unit of value. The rat
was established at Is to l., but at th
ratio, gold was cRder-valued and
went out of circulation in this countr
Why2 Because ali of the nations
Europe were coming silver at the rat
OF 15H to / and we could not maintai
the :atio OF Is to because it und
valued one OF the metals. In 1884 d
ratio was changed to 16 to /. From
to 1873 the silver dollar was the unit
value, it was full legal tender for ,
debis public and private, and when
was suspended from COMA
in 1873 1t s.ood at a premium Of 3 o
cent over gold. During all this In
such phases as "unsound money! "
never heard. The silver dollar was ne
era dishonest dollar, it was never caIIe6
so cert dollar. 1t would have be-
inst as seneibie to have called the g
u.e /, 50-100 of as it would have be
to haye called the silver dollar 50 ce
dollar. Today as Mr.. Wright Gays Il
rstio is SO to I, and he admits that q
yer has been Disseminated agsins
He admits that its demonstration
the leading nations of the world 10 Il
eause of the change in ratio. What oil
could be expected but that it won
depreciate in value?
Take away the demand for any artic
and it will depreciate in value. Den
onetize gold, deprive it of it's mon,
functions aud it. too will depreciat
It wouldn't be worth as much today
silver is 3iIver is used as subsida
money in all of the gold standard natlo
today, junction which gold eann
serve, and therefore l ssy that If Il
money demand for gold was taken awi
it would be subject to the fuctuatio
of the market. the same az any 9th
commodity.
Mr.. Wright seems to think gold
something sacred, that it lie kind OF
God. He assumes that gold has a fix
and Interchangeable value. and that