Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1898-04-21

an increase In the supray. or decrease
In the demand. win 1ofer the purohas-
ing power of dollar.
Gold monometallisms by limiting the
coinage Of money to gold alone, in
creases the demand ftf gold, and this
raises the purchasing pewer Of an ounce
of gold throughout thetworld. The in
crease in the purchasing power of gold
is manifested by fall In the general
level of prices.
The gold standard, by increasing the
purchasing power Of dollar and lower.
ing prices, transfers tocreditors, money
owners, money changers and holders of
fixed Investments the property and
earnings of the wealthproducing classes
and thus not only retards production,
encourages hoarding and discourages
enterprise, but is. in effect, grand lar
eeny under the guise of law
The gold standard is supported in the
United States and elsewhere by the
namely. by the creditors, money own
ers, money changers and holders of
fixed investments, while it is opposed
In -the vnfred States And elsewhere by
the classes injured by it. namely; the
debtors and producersof wealth.
The injury to the debtor and wealth
producing classes Is permanent because
it is not offset by any advantage to them
or to their posterity;. the capitalistic
classes. on the other hand, cannot af-
ford to advocate the gold standard even
tho -
their dollars and Investments, because
an injustice wrought b. law is as indie
fensible as wrong ffcted in violation
of law, and no one IN afford to be-
queath to posterity @cious policy of
government or an unjust law.
The advocates of sbimetallism, by
pointing out their own participation in
the advantages of bimetallism give evil
dence of their sincerity as well as their
knowledge of the subject, while the
beneficiaries of the gold standard prove
either their insincerityi or their ignor.
anoe of the subject by Risclaiming any
personal interest in gold
The advantages of the double stand
ard are so obvious and the evils of the
single gold standard 50 apparent that
bimetalllism has been more universally
indorsed by the American people than
any other financial policy this nation
has ever had; while gold monometallism
has been more universally condemned
than any other financial policy.
The free and unlimited coin
age of gold and silver at
fixed ratio tfirst, at the ratio
of 15 to /, and afterward at 16 to y
into full legal tender money began in
the United States in 1899 and continued
until 1873, 81 years, and during that en-
tire period no political party ever oon-
demned the system in a national con-
vention.
The gold standard was established in
1878 without any party asking for it,
without the people discussing it and
without the members Of congress under
standing the purpose and effect of the
law.
During the 90 years extending from
1878 to 1896 no political party of any
time ever defended the act of 1878 de-
monetizinR silver or adopted national
platform declaring the gold standard to
be blessing to the people of the United
States.
In 1899, after 10 years experience un-
der the gold standard, the Democrats,
Republicans and Populists all declared
for bimetallism, differing only as to the
means of securing it.
In 1896 the Democrats, Populists and
members of the National Silver party
united in demanding the immediate res
toration of the free and unlimited COIN
age of gold and silver at the present
legal ratio of 16 to / without waiting
for the aid or consent of any other ma
ton, and the Republican party pledged
itself to promote international bimetal-
ism, while the bolting Democrats, after
advocating international bimetalism in
the Chicago convention, adopted a gold
platform at the indianapolis convention.
If platforms can be accepted as in
dicating the wishes of those who sup
port them, then in 1896 six and half
million voters expressed desire for
independent bimetallism. seven millions
declared for international bimetallism
and only one hundred and thirty-tWo
thousand supported the platform adopt
ed by the bolting Democrats-the only
gold platform ever adopted by q ma
tional convention in the entire history
of the country.
McKinley's Admission.
President Mckinley. by sending
commission to Europe, and Republican
congress, by appropriating 100000 to
pay the expenses of the commission,
have admitted that the gold standard Is
unsatisfactory to the people of the Unit
ed States. International bimetallism Is
only defensible upon the theory that the
gold standard is failure.
France has had the gold standard for
more than 20 years, and yet by joining
our commission in its effort to secure
the cooperation of England in the res
toration of bimetallism, France declared
the gold standard to be unsatisfactory.
On March II, 1896, the English
house of commons, by unanimous
vote, adopted the following reso.
luton: "That this house is of the opin-
ion that the instability of the relative
value of gold and silver since the action
of the Latin union in 1873 has proved
injurious to the best interests of this
country, and urges upon the govern
ment the advisibility of doing all in
their power to secure by international
agreement. stable monetary par Of ex-
change between gold and silver" By
adopting the above resolution the house
of commons protested against a univer.
sal gold standard.
On Sept %, 1897, the London bank
ers met at the clearinghouse and unani-
mously resolved against btmetalEsm
and pledged themselves to secrecy.
Soon afterward the English govern
ment dismissed our commission and put
an end to the hope of securing bimetal-
lism through an international agree
ment.
Between March IL, 1896, and Nov. /.
1897. many English manufacturers and
merchants petitioned the government to
carry out the pledge given by the house
A Worthless Check.