The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1898-01-07
90 oPPoRTIInfrr
The Future OF BimetnIIism rs seen in
Russia

j ELuaEll-
Prof George BOUtmy, one Of the men
who strives to serve his fellow men,
who feels for the downtrodden, who
strives to uPlift them; a Russian econ
omist who befriends mankind and re-
fuses to serve the moneyed OIigarcby
that is bent on enslaving the world,
/ though he earn thereby the enmity Of
I the rich and powerful; noted bimetal-
I list who has especially devoted himself
/ to the demonstration Of the blighting
! influence that the suspension OF the
I free coinage Of silver rubles has had
upon Russian agriculture, sends US the
following communication, that can
not fail to interest our readers:
Sir: That which one could not fail
70 anticipate has happened
! The government Of her majesty, the
/ queen Of Great Britain, has capitulated
/ before a handful Of Lombard street
bankers. The Salisbury-BalfOur min
/ istry has put the interests of the money
| lenders in first place, it has sacrificed
to them the interests of agricultural
and industrial England, the interests
of India, the pledge Of the present gov
eminent given to the house of commons
I
upon the honor Of this same govern
ment.
The project Of international bimetal-
lism with the assent Of England has
seemed irrational to me from the be
ginning. Why wait upon a government
Of bankers to deprive themselves vol
unfairly Of the advantage Of levying
tribute upon mankind by means of the
artifciaIly appreciated gold sovereign,
which the world owes to these same
bankers2 One would reason that it is
the English bankers themselves who
have invented this irrational kind of in
ternatiOnal bimetallism IN order to
stave of the danger Of national bimet-
aIlism, which threatened to break their
power last year Once this danger
postponed until the elections Of 1900,
and they are the first to find this plan
imPractiCable.
The producing classes have been
fooled up to this time by this political
treachery, but it has carried its good
side.
The accomplishment of bimetaIlism
by the aid of England was fraught with
a serious danger This was the ques-
1t is very probable that England
would have used the entirely too
strongly pronounced desire of other
nations to have her cooperation in a
bmetallic arrangement to impose some
conditions on the question OF ratio.
fear very much that the English, In
place of agreeing to the restoration of
bimetallism at the ratio Of fifteen and
One-half to one or sixteen to one, which
would have restored gold to its ancient
value, would have insisted on establish
ing another ratio, say a ratio at the
actual existing value Of the two pre-
cioUs metals on the markets. This
would have led not to a cheapening but
TO a fixing of the purchasing power Of
the gold sovereign at its present APP
pTeciated value, not to n tightening Of
the burdens Of debtors, but to an eter-
nalizatiOn and legalizing of the burden
Of debts fraudulently augmented since
1873 by the artificial appreciation Of
gold, not to an ameliOratiOn of the pres
ent crisis by rise in prices, but per
PetUatiOn of the agricultural and in
dustriaI crisis by giving Permanence to
the era of low and falling prices.
Now the procedure is simplified.
There is no longer to be work for BIZ
metaIlism with the English govern
ment, but for bimetallism against the
government Of bankers.
The English response of the 10Th of
October, refusing to reopen the Indian
minis to the free coinage of silver, viii
lead necessarily to che further appre-
citation Of gold, to a further fall in the
price of silver and of all commodities.
The terrible crisis which will thereby
be unclaimed upon the world VIII force
the people Of the world to a cOmpre-
bensiOn of the truth that gold is the
instrument that is desPOiling them Of
the fruits of their toll to the profit Of
handful OF international money lend
ers. The nations that have ever had BIZ
metallism will hasten to national BIZ
metallism- Those that had the silver
standard las Russia) viii be forced %
conserve it or return to it, and they
viii thereby be benefited.
The purchasing power OF the none
tary unit determines the burden of
debts. Hence the debtor nations are
interested in the depreciation, the in
tCTnatiOnal bankers In the appreciation
of the monetary unit. BY means of
gold mOnOmetallism the money lenders
have succeeded in causing the apprecia-
ton of the monetary unit, or gold. The
wrOnCed nations ask that il be depre-
ciated to its ancient worth. Obviously
n nation which VIII adopt national BIZ
metaIIism alone, If such action is not
initiated by other nations, runs the
risk OF seeing its bimetallic system de
generate into silver mOnOmetallism.
Its monetary unit would be deprecated
under the new level asked for. But il
would benefit The money lenders
would suffer the losses. If the interna--
tional bankers wish to avoid these
losses il is for them to take precau-
lions. IL is for them. for the bankers,
in their own interest. who would thus
feel the need. to take care that national
bimetallism be adopted by all the ma
tons. so that il should thus become in
ternational.
When one is attacked by a brigand
who threatens 10 rob you or even muir
der YOU, If need be, it would be clearly
an excess of courtesy for one TO wait
before repuIsing him until he left no
rIrrrTf nv his efa-,e Of HE sr,Aa-,fS~.-,s-