Freeland tribune. (Freeland, Pa.) 1888-1921, 1898-04-14


drawal Of foreign capital to prevent
change of our financial policy, they can
threaten such withdrawal to prevent
the annihilation of trusts or the regula-
tion Of other corpC1 ations. Not only can
this threat be made in regard to our
domestic policy, but it can be made to
prevent the adoption of any forei IN poll
cy which does not meet with Fl, vor in
Europe. We cannot protec' the rights
of our citizens, avenge an insult to the
flag, enforce the Monroe doctrine or ex-
press our sympathy with those who are
struggling to be free if we are to be de-
tered by the threats of foreign invest
ors. The right TO legislate for our peo-
pie on the money question involves the
right to leglslate on all questions, and
until this right is secured the discussion
of other questions will avail nothing.
When we have released ourselves from
the dictation Of foreign financiers and
overthrown the local money trust which
controls our financial policy, we shall be
in a position to undertake the extermi-
nation of other trusts and the protection
of our people from all forms OF monopo-
listic oppression.
The other planks of the Chicago plat
form are not abandoned Those W no IA
vor free coinage at l6 to | advocate 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
itself i'll its latest utterances.
Why I8 to ~
But there are some who admit the
necessity for bimctallism and who con-
fess that it can only Le secured by inde-
pendent action, but suggest a change Of
ratio They ask, Why l6 to /? l answer
that there are several reasons. Sixteen
to one is the ratio at which we had free
coinage from 1884 to 1873 1t is the
ratio now existing between the gold and
silver coins in circulation, and it is
more favorable to gold than the ratio
now existing in most European ccun-
tries
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.
Especially would it Int us out OF har-
mony with France, the European ma
tion most friendly to silver, where the
ratio is l5Ln to /. If by international
agreement we should change the ratio
to 32 to |, for instance. it would neces-
state the recoinage Of more than 81
900, 900 900 of SILVER into coins twice
as large tprovided the change was made
by increasing the siZe uf the silver
coins) 10 double the size Of the silver
coin Of the world would diminish by
one-half the silver money of the world
1t would diminish by one-quarter the
entire volume of metallic money of the
world Such shrinkaPe in the volume
of money would III effect add bill
lions of dollars to the debts Of the world
Should so great an INJURY lie done with
out the necessity for 1t belng proved be-
yond "a reasonable doubt?
Bimetallists contend that gold and
silver have been driven apart by hos
tile Legislation and that they can be
brought together by friendly legislation
They contend that Legislation favorable
to gold has increased the purchasing
power of an ounce of gold throughout
the world and lowered the general level
of prices, hi!c the same legislation
has lessened ths demand for silver and
lowered the gold price of that metal.
They conterd that the restoration of
the fres and unlimited coinage by
ereat nation like the United States will
increase the demand for silver to q
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 is to and thereafter maintain the
Iarity al that ratio.
1t is true that some himetal,ists do
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