The Caucasian., 1898-02-17

raising prices. II . fall in prices is
an advantage, then . rise in prices
cannot be desirabl, and il, on the
other hand, a rise IN prices, wheth-
er obtained through independent
bimetallism or through An interna-
tional agreement. is good, then
the fall in prices caused by the
gold standard must be admitted to
have worked an pjury. The fall in
prices, extending over the last
twenty-five years, has, in fact, been
disastrous to the prod ucers of wealth
in every gold standard country Of
the world.
France Inow desires to abandon
the gold standard; the German
keichstag declared for international
bimetallism 10 1895; the farmers and
lAboring men Of England are now
protesting against the gold stand
ard. Can any Democrat deny that
the relief from the gold standard is
imperstively neededf Should the
Democratic party abandon the po-
sition it has taken on the side of the
masses IN this world wide coutesti
The stand taken by the Republi-
cans raises the most important ques-
tior that can confront . nation,
oamely, the right of the people to
legislate for themselves. The Re-
publican platform is the first plat
form which ever declared in favor of
repeating the Declaration Of lnde-
pendence. The platform expressly
transfers from America to Europe
the right to determine the financial
policy Of the United States. Accord
ing to that platform, the American
people should seek international CO.
operation in restoring bimetallism,
but must maintain the gold stand
ard until that cooperation is secured.
The Republican plan is to invite for
eign assistance, but while We may
invite, European nations are at lib
erty to refuse tho invitation, and
they have thus far done so. The Re-
publican platform therefore, means
that We must have the gold stand
ard as long as European nations IA
vor the gold standard, and can have
bimetallism only when they consent
to it.
The recent events have demon
strated that Europe has turned the
money question over to England,
and England seems to have turned
it over to the English fnanciers
who, on the 22ud of last September
met at the Clearing House, pledged
themselves to secrecy, decided upon
the gold standard, and thus determ-
ined our financial policy as long al
the Republican plan prevails.
No one believes that bimetallisn
will prove q panacea for all politica
ills, but the money question must bt
settled before other questions Car
be reached. Financial lndependenc.
is a condition precedent to reform
along other lines. The power tha
controls our financial policy can con
troll the policy of our Government
on every other subject whenever oc
casion arises for the exercise of that
control. Suppose, for instance, tha'
the money question were dropped
and the fight against the trusts
made the main issue. Much foreig,
capital is invested in trusts, an,
foreign financiers could announce
that any legislation hostile to trust
would be followed by the withdrawal
of foreign capital and q panic. 1
they can threaten a withdrawal o
foreign capital to prevent a chang
OF financial policy, they can threat
en- such a withdrawal to prevent tn
annihilation of trusts or the regula
tion of other corporations. Not onl
can this threat be made in regard
our domestic policy, but 1t can b
made to prevent the adoption of an
!. foreign policy which does not NEE
with favor in Europe. We cannc
protect the rights of our citizen'
avenge an insult to the flag, enforc
the Monroe doctrine or express on
sympathy with those who are struf
Cling to be free, if we are to be d.
, TERED by the threats of foreign II
/ vestors. The right to legislate f(
our people on the money questio
involves the the right to legislate Q
? all questions and until this right
secured the discussion of other gue
, tions will avail nothing. When v
! have released ourselves from II
. dictation of foreign financiers an
overthrown the local money tru
r which controls our financial polio
: We shall be in a position to unde
z take the determination of 9th
4 trusts and the protection of our pc
: pie from all forms of monopolist
/. oppression.
d The other plsnks of the Chica,
o platform are not abandoned. Tho
: who favor free coinage at 16 to l a
l. vocate and will carry out all 10Th
is reforms enumerated in the platforl
10 but they will not lessen the emph
n sis placed upon the money questi'
IS by the party itself in its latest ute
10 ances.
=. the necessity for bimetallis
L. and who confess that it C
b. only be secured by int
a. pendent action, but suggest
ii. change of ratio. They ask, w
is 16 to II I answer that there .
X several reasons. Sixteen to l is
is ratio at which we had free COMA
m from 1884 to 1897. 1t is the "a
,i- now existing between the gold q
D. silver coins in circulation, and i
lg more favorable to gold than the
ito now existing in most Europe
y, countries.
i'll To change the ratio by indepe
al ent action, besides changing exist
d. contracts, lessening our curreI
~ and lncuring great expense, NO
Dr. put US out of harmony with OF
Dr. nations; especially would it put
le- out of harmony with France,
St European nation most friendly
~, silver, where the ratio is
eai to l. If, by international agreem
mt we should change the ratio to
OF, to l, for instance it would