The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1898-03-22

Soon afterwards the English govern
ment dismissed our commission anC
put an end to the hope of securing bi
metallism through an internationa
agreement
10. The republican platform having
declared that the gold standard mus
be maintained in the United States al
long as the leading commercial nations
J OF the world maintain it, and having de
clarcd that this country cannot have
blmetallism until the leading CONNER
clal nations cooperate with us, the
seer etary OF the treasury is now en-
| gagged in an effort 10 commit the United
States more thoroughly to the gold
standard, not because it is desired by
the American people, but because d
lew English tinanciers, by controlling
the policy OF Europe, are able to pre-
vent foreign cooperation in the over.
throw OF the gold standard.
20. The Republican policy OF prOmis-
ing the maintenance OF the gold stand
ard until aid comes from abroad, pre-
vents foreign cooperation, because it
oilers the European tinanciers an ever in
creasing dollar as aroward q for their op-
position to bimctallism, while indepen-
dent bimetallism at the ratio of Is to |
Will give the European fnanciers pc
cunlary interest in maintaining the
parity between gold and silver at our
ratio, because they will be paid in silver
II they conspire to decrease the value of
silver. Who will deny that the Ameri-
can people have as much right to use
olmetalllsm to protect their property
from depreciation as foreign tinanciers
nave to use the gold standard to raise
the value of money, bonds and mort
cages?
II. B!metallism sm must not only by re-.
stored by Independent action, but it
must be restored at the ratio Of 16 to |.
IL blmetali"'n is restored it must be
restored by those who believe in BIZ
N tallism, and the large majority Of
lnd"pcnd"ut bimetnllists who believe
in the catio OF rs to 1 have more right
to dictate the ratio than the small
minority, WHO not only oppose the ratio
oil IL to but have made 40 effort to
secure Uimetalism at any other ratio
y Some suggest changing the ratio
from Ii to to 32 to /. the change to he
made by doubling the sizc OF the silver
dollar. Such IL change would not only
affect all existing coin obligations, but
would require the recoinage of $780,
100000 into $3.50, 100000, resulting in
large expense to the go5ernment and a
great shrinkage in the volume of stand
ard money. If the entire world agreed
to shrinkage of one-half Of the silver
the change in ratio it would result in
a money OF the world, which would be
equal to shrinkage OF one-fourth OF
tn" total volume OF metallic money of
the world-a change SO vast in its con.
sequences as to transfer most of the
property OF the world from its present
owners to the holders OF the worlds in
dcbtedncSs.
%. The restoration Of bimetallism
l.
thus raise the value OF silver, as
measured by gold. while an increase in
the volume of standard money will
lessen the purchasing power of an
ounce OF gold. Gold and silver have
heen driven apart by legislation and
legislation can bring them together.
5inetallists contend that the people Of
the United States can furnish de.
mand sullicientfo utilize all the silver
presented ,Bq mints, and thus main
tain the. NaM<73 73bctwcen gold and silver
at the ratio eT lG to and MAKE the
silvcr<dollar%eQual to the gold dollar,
whether melted or coined here or any-
where else in the world.
u. The restoration of bimetallism,
while it will make the silver dollar
equal to the gold dollar, will reduce
the purchasing power OF all dollars.
whether silver or gold, and thus raise
prices TO the bimetallic level. We
must either return to the bimetallic
level OF prices and thcnceforth do busi-
ness upon stable basis or suifcr an in.
definite extension OF the era Of falling
prices with consequent gain to the few
and loss to the many.
%. The gold standard is crime
against the human race and the demo
cratic party has commenced against it
Il war Of determination.