Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1898-10-20

themselves don't more than half under
stand, for the purpose Of so confusing
| the minds Of their hearers that the av-
erage listener will imagine there must
be something in their arguments after
all.
For example, favorite way some of
these fellows come at their audiences is
to ask the question, "Do you want the
gold Standard" Then in answer they
declare, eff you think you do, don't
you know there isn't gold enough in the
world to furnish sufficient volume of
money to carry on the business?" Then
they leave this question and jump into
discussion of the volume Of the cur
rency. You see they say just enough
about the gold standard to convey the
impression that it means that all money
should be in gold.
Now, if they told their hearers that
the gold standard meant that all repre-
sentative money should be kept up tn
gold dollar, nothing more, nothing less.
they would only be telling the truth,
and would not confuse the listeners,
but it would be fatal to their arguments.
The free silver speakers also talk
glibly about "bimetallism," and the
great crime that somebody is somehow
trying to commit by taking the "soul
of money" out of silver. They talk
about bimetallism as though both met
ais should be made "basic money" and
say that there would be no trouble in
making them circulate side by side if
certain money interests had not caused
the decentralization of silver" in order
to "double the value of the money of
the rich man and cut in halves the
money of the poor man." That is a
fair sample of their talk and some who
listen may be led to believe that all
said in that vein is true.
The fact is, however, that both met
ais cannot be made to circulate side by
side except under conditions that can
not be hoped for. Governor Shaw in
recent speech explained this condition
in plain and concise language, devoid
of the fog with which the silver orators
surround the question of bimetallism.
He said:
If am correct in my first proposition,
that standard coin is WORTH the mater
ial of which it is composed, then, in
order to make use of double standard,
it would be necessary not only to coin
two nominally standard dollars, but the
value of the material in each must be
the same at the time of its coinage, and
remain identical during the existence of
the coin. This sounds automatic, 1t is
automatic. 1t is the A B @ of the ques-
ton, and there is nothing beyond the A
B G. Solve this and it is all solved.
That is the whole truth of bimetallism
as the so-called bimetallists teach it, in
nut shell. To have double standard
it is absolutely necessary that the value
of the metal in each coin must be the
same and that that value remain constant
during the life of the coin. Experience
teaches US that values of the metals vary
and consequently double standard is
impossible.
There are, then, two fundamental
principles that should be clearly under
stood, and when mastered much of the
confusion caused by the mystifying ar
guments of the silver people will disap-
pear. They are:
First-The gold standard means that
all kinds of money in circulation in the
United States shall be Kept at a par
with gold. That is what it means, and
nothing more.
Second-A standard coin is worth ex-
actly the val1e of the metal of which it
is composed, and bimetallism, meaning
double standard, is impossible as long
as the values of the material in such
double standards fuctuate.