The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-02-03


d population knows, understanding,
what bimetallism is, and have bee
asked to define il.
a Ii is the right To use either of tw
metals for money-gold and silver
The supply reaches the peopl
through the minis of the govern
ment, by the minis being open I
coin all that comes. The option
known as the bimetallic option, i
with the 90 yernment and the peopl
+, to use either Of the two metals il
the discharge of their obligations
!. If the government is paying its sol
diers. its employees, its numerou
e officials OF other obligations, unde
I bimetallism, it has the right to pa,
in money made from either metal
: If the people are paying their taxes
to city, state or nation, purchasing
postage stamps, or discharging thei
obligations to each other, under bi
metallism, they have the right t
pay in money made from either o.
the two metals.
1t thus places the two metals in
competition with each other to sup.
ply the demand for money. Thus
one relieves the strain upon he 9TH
er-as one eye relieves the other.
With the option with the people
to use money made from either Of
the two metals they controlled the
demand and placed that demand
on the side that was most accessa-
be II silver grew cheaper they
shifted the demand to it and took
the demand away from gold; hence
silver rose in commercial value ard
gold declined. If gold came TO be
cheaper they, the people, used it,
thus shifting the demand to gold
and taking it away from silver.
And, it was the demand thus con-
trolled by the people, as such and
rs government, that practically
maintained the commercial parity
Of the two metals for all time prior
to 1873.
Following the act Of 1873 the OPP
ton was given TO the creditor to de-
mand either of the two metals
Just the reverse of bimetallism, end
the result is that creditor demands
the dearer of the two metals-and
the dearer it gets the more apt he is
to demand it. Under bimetallism,
the use of two metals, the people
could be depended upon, naturally,
to shift 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 it down in
value, and placing it on the
cheaper brought the latter up in
value-thus the commercial value
of the two wss maintained at a par
ity. The effect was to give practi-
cally the volume of the two metals
to our stock of metallic currency,
and furnished the basis for an equal
ly enlarged volume of paper money,
under a redemption monetary sys-
tenn.
The theory OF the open minis to
coin all that came of either metal
was to let the supply reach the peo-
pie. Close the minis to either and
YOU shut OF the supply and force
the other. The open minis to the
two metals gave the supply and the
people controlled the demand. If
silver rose in value it Stunned the
minis and was shipped abroad to
pay debts-as it was for time prior
to 1S13-or in exchange for gold,
and the latter was added to the do
nestle supply that went TO the
minis, and vice versa. Neither
could rise in value and extort tribute
from the people so long as the other
was in competition with it, open
minis and option with the people.
The government bought neither
metal. The mirts were open to
coin all that came of either metal,
and to give back the coins to those
who brought the bullion. 1t was
coined free because it was states
manship for the government to ia
ciltate and provide way for money
one of the principal functions Of So
ciety. Bmetallism, therefore, con-
sists of open minis and option with
the people to use either. Under bi
metallism there is no such thing as
gold contracts, tits "coin" contracts.
The reason why the demand shift
ed from one metal to the other as
exerted by nation like the United
States, will maintain the commercial
parity of the two metals, is because
OF the worlds limited supply OF the
two metals. All the gold in the
world, at the present time, available
Tor money, will go in the cube Of
twenty-five feet; all the silver in
the cube Of sixty-eight feet. All
the gold in the United States will