Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1900-10-12

}it Of gold money must have
relatively fixed-and certain
silver morey. when silver
- y goid-using nations are trad
VTlher or they cannot permanent
-,rofitably keep up their COM
y. AcfIet me illustrate that: l have
the purpose some figures
49, will call to your attention.
a New York merchant Is trad
Shanghai. one OF the great
China. Now the unit OF meas
China is a Chinese weight OF
nown as the tael. There are
sorts of taels; that which is
sually referred to Is the tael
at original parity, was. think,
o $1.A OF American money in
Vow suppose that a New York
mt fits out cargo which he
to Shanghai. He figures now.
the tael is worth $1.34, that IL
sell his cargo in Shanghai for
kousand taels he will get enough
to all his expenses of OPP
=. the original cost of his goods
fair and reasonable profit. He
SJget fifty thousand taels. Now.
I'm his goods get to Shanghai the
still worth dollar and thirty
sents. he will get in dollars. II he
Deity thousand taels. fifty thous-
lines $1.34. or. $4,000. This rep
vvfs what he must get in order to
~ profit. Now suppose that when
snds this cargo to Shanghai he
bill of exchange payable In
ny days against his correspondent
Ohanghai for the amount of these
5. and suppose that during the
days silver falls 10 per cent.
n these goods arrive and are sold.
when the bill of exchange Is paya-
n Shanghai, the tael is no longer
h s1.3i but only u.20. At that rate
thousand taels would be $50. 300.
Their words, the taei having fallen
alue 10 per cent he gets fewer dol
for his fifty thousand OF them. In
IT words, he has lost on his transact
n by the fall in silver exchange the
erence between $67 900 and 500. 300.
5000. How long will your New
* merchant continue in business
an losing or likely to lose 5000 on
ry cargo? On the other hand, take
case of Shanghai merchant ship
& to New York; and suppose that
will get his expenses back and the
,essary profit If he sells his cargo for
900. and that he draws his ninety
y bill of exchange In the same way.
silver remains worth $1.34 per taeI
will get, when he sells for $4,000 In
NV York. 1880 taels; but suppose
yer falls so that tael is only worth
206. then $4,000 will bring Al AGO
els. In other words he gets ALSO taels
ore for the gold value of his cargo
an he would have gotten II silver
d remained at par. so that his profit
g been increased 400 taels. and ne
II keep in business so long as silver
ntinues to fall. But your gold ex-
rter from New York, who lost 5000
the cargo. will go out of business
less by some kind of gambling on
e market he can forestall the prob
'ility Of loss on the transaction. SO,
Y friends, II comes to this. to be as
ief as possible. that you cannot open
} China. you cannot continue to de-
lop the silver-using countries of the
Drld, unless you either put them all
the gold standard or you restore the
If OF exchange so as to leave out the
element in commerce be-
,een the gold-using and the silver
ing nations. (Applause.) But you
mot. my friends. you cannot put the
hole world on the gold standard with
e present supply OF the worlds gold.
here are four times as many people
4 on the gold standard as there are
that basis. To make the present
ltput Of gold then serve four times
many people would be to reduce
ices almost in that awful propor-
IN. and that calamity the world could
Il endure. The alternative. and the
ly alternative. liz to hestroe the pari-
between gold and silver. and you
n only do that by opening up the
nts of a great nation or several great
lions, as the case may be; so that
Will, by giving employment
the silver that will seek the mint,
ike 1t worth as much as gold: and
en- you will have restored the parity
tween gold and silver, and you can
aw bill of exchange on any part
lch 1t will bring when 1t comes to be
Id. Our friends who have been 60
9 over to the gold standard during
e past four years. after quitting 1t
1896. have jumped at the wrong
ne.
Now. my friends. briefly, I have re-
rred In passing to the legislation of
st March. I want to call your atten-
On to the fact that the Republican
lrty has consummated what It start
out to do four years ago, or has
,arly consummated 1t. We were then
raid that the statement in their
atform. that they proposed to try to
/ an international agreement for the
t one. Now we know 1t was not.
ILL A MAN WHO VOTED
SAINsT THE PRECIPITATION OF
TRICK FOUR YEARS AGO VOTE
D SUSTAIN 1T NOW THAT HE
NOwS 1T WAS A TRICK? In 1896
e national platform of the Republi-
IN party said: I'VE are therefore OPP
,sed to the free coinage OF silver ex-
,pt by an international agreement
nong the leading commercial nations
the world, which we pledge ourselves
promote, and until that can be Sc
,red the existing gold standard must
. maintained" What did that mean ?
meant that they wanted. II they
ere honest, International bimetallism;
lat they would only put up with the
I'D standard temporarily as a neces-
Try evil. The principle of the gold
was not Endorsed or they
ould not have said their desire was
r bimetallism. The Republican
atform adopted in June at Philadel-
Tia says: I'VE renew our allegiance
the principle of the gold STANDARD"
ow. my friends. you don't renew a
ing that never existed. You ion't re-
firm thing that never was q 1irmed
at least nobody but the Republican
lrty does. The Republican party says
reaffirms the principle" of the gold
When did 1t ever affirm it?
ever In the world. The We p:atfol m
as for the principle of bimetallism. 1t