The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1898-12-21
WHAT Is BIMETALLIsM Z
% Coin " Harvey Deanes Bimefauis,n e. Ths
Hattie or 1900 Begfas.


written for the Daily Leader.
The statement has been made tc
me that not one in ten Of our voting
population knows, understandingly
what bmetallism is. and ] have been
asked TO define it.
II is the right to use either Of two
metals FOR money-gold or silver. The
supply reaches the people through the
mints Of the government. by the mints
be ng open TO coin all that comes
The option, known as the bimetallic
option, is with the government and
the people to use either Of the two
metals In the discharge OF their obli-
ga'ions. II the government is paying
its soldiers, its employees, its numerous
officials or other obligations, under
bimetallism, it has right TO pay In
money made from either metal. II
the people are paying their taxes to
city, state or nation, purchasing post
age stamps, or discharging their obli-
! cations to each other, under bimetal-
lism, they have the right To- pay In
money made from either OF the two
metals
1t thus places the two meta's in
competition with each other to sup
ply the demand for money, Thus one
relieves the strain upon the other
as one eye relieves the strain upon the
other.
IL.
use money made from either OF the
two metals they controlled the de-
maud and placed that demand on the
one that was the most accessible If
silver grew cheaper they shifted the
demand TO It and took the demand
away from gold; hence silver rose in
eommercia al value and gold declined.
ltgold came to be the cheaper they,
the people, used 1t, thus shifting the
demand TO gold and taking II away
from silver. Aud 1t was this demand
thus controlled by the people, as such
and as a government, that practically
maintained the commercial parity OF
the two metals for all time prior TO
1873.
Following the act OF 1873 the option
was given to the creditor to demand
either of the two metals-just the re
verse OF bimetallism, and the result is
that the creditor demands the dearer
OF the two metals and the dearer IL
gets the more apt he is to demand IT,
Under bimetallism, the use OF the two
metals, the people cou be depended
upon naturally, to sniff the demand
automatically TO the cheaper Of the
two metals when either was cheaper
than the other. Taking the demand
away from the dearer brought II down
in valur, and placing it Oh the cheaper
brought II up in value-thus the eom~
mer ial value of the two was main-
tnincd at a parity. The effect was TO
give pra 'tically the volume OF the two
metals TO our stock of meta lie cur
rency; and furnished the basis for an
equally enlarged volume OF paper
money under a redemption monetary
system.
The theory OF the open mints to coin
al that came Of either metal was to
let the npply reach the p ople. Close
The mints To either and you shut off
he supply and force the use OF the
other The open mints to the two
metals gave the supply and the people
controlled the demand. / silver rose
in value il stunned the mints and was
shipped abroad to pay deb &, as il was
for Ia time prior TO 1873, or in exchange
for god, aud the latter was added 10
he dom site supply that went to the
miuts, and vice versa. Neither could
rise In value and extort tribute from
he people long as tho other was II
.ompetition witu it-open m nts and
option with the people.
The government bought neither
METAL i he miDts were open TO coin
an thai ane of either metal and to
give back the coius TO those who had
brought the bul ion IL was coined
fire. because IL was stRtesmanship for
the government To facilitate "A d pro-
vide way for money, one II the pin
cipal funct ons Of society. Bimctalism
therefore, consists Of open mints and
option with the people 10 use either.
Under bimetallism there is no such
thing as gold contracts; it Is "coiu -
contracts
The reason why the demand, shifted
from one metal TO the other as exerted
! oy nation like the United States, will
maintain the commercial parity Of the
| two metals, is because of the worlds
mited supp of the two metals. All
| the gold in the world at the present
time available for money will 20 in