The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-02-03
DEFINES BIMETALLISM.
Coin Harvey Does Ia Tor Those Who
DO Not Know Their own Best
lnterests.

The statement has been made 10 me
that not one in ten OF our voting pop.
ulation knows, nderstandingiy. what
oimeiallism is. and | have been asked
TO define IL.
IL IS the right 10 use either of two
metals for money-god and silver.
The supply reaches the people through
the mints Of the government, by the
minis being open 10 coin all that
comes The option. known as the biz
metallic option. is with the government
and the people TO use either Of the two
metals in the discharge Of their obliya-
tons. II the government is paying its
soldiers, its employees. its numerous Of
ticials or other oblga tons. under BIZ
metallism. ii has the right 10 pay in
money made from either metal. If the
people are paying their taxes TO city.
state or nation. purchasing postage
stamps. or dischargng their obiga-
tons 10 each other. under bimetallism
they have the right 10 pay in money
made from either OF the two metals.
IL thus places the two metals in com
petition with each other 10 supply the
demand for money. Thus one relieves
the strisn upon the other-as one eye
relieves the strain upon the other
With the option with the people 10
use money made from either Of the
two metals they controlled the demand
and placed that demand on the ore that
was the most accessible II silyergrew
cheaper they shifted the demand 10 il
and took the demand away from gold;
hence. silver rose in commercial value
and gold declined. If gold came to he
the cheaper they. the people. used 1t
thus shifting the demand 10 gold and
taking il away from silver. And. ii was
the demand thus controlled by the peo-
pie. as such and as government. that
practically main tanned the commercial
parity Of the two metals for all time
prior TO 1879.
Following the act Of 1873 the option
was given 10 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 I
the two metals-and the dearer il gets
the more apt he is todemand il. Under 4
the use of two metals. the Z
people could be depended upon. natur- 4
ally. 10 shift the demand automatically 4
to the cheaper of the two metals when I
either was cheaper than the other.
Taking the -emand away from the
dearcr brought il down in value. and
placing it on the cheaper brought the
latter up in value-thus the CONNER
ci11 ra1no nf
AT parity. The effect was 10 give prac- +
iically the volume of the two metals \
10 our stock OF metallic currency: and \
furnished the basis for an equally en-
larged volume of paper money-under
a redemption monetary system.
The theory OF the open mints 10 coin
all that came of either metal was 10 let
the supply reach the people. Close the
hints TO either and you shut of the
supply and force the use of the other.
rhe open minis 10 the two metals gave
he supply and the people controlled the
demand. If silver rose in value il
summed the minis and was shipped
broad 20 pay debts--as it was for
ime prior TO lS73--or in exchange for
old. and the latter was added TO the
supply that went 10 the mints.
md vice versa. Neither could rise in
alue and extort tribute from the peo-
lie SO long as the other was in compe-
ition with it--open minis and option
With tie people.
The government bought neither
METAL. The minis were open TO coin all
hat came of either metal. and TO give
ack the coins TO those who had !
rought the bullion. II was coined free
ecause il was craftsmanship for the
oyernment 10 facilitate and provide
way for money. one of the principal 7
nnctions of society. BimetaIIism. Z
lerefore. consists of open mints and I
ption with the people TO use either. I
nder bimetallism there is no such !
ling as gold contracts. it is "coin" i
,ntracts. Z
The reason why the demand. shifted i
ON one metal 10 the other as exerted 7
! a nation like the United States. will
aintain the commercial parity of the y
vo metals. is because of the worlds :,
mited supply Of the two metals. All q
e gold in the world. at the present y
ne. available for money. will go in the $
lbe OF % feet; all the silver in the :
lbe OF Gs feet. All the gold in the ]:
nited States will go in an average size !.
droom; all the silver in almost any n
rmer's barn. !,
W. II. HARVEY. h
/
Free silver Ntuht School. 81