People's Pilot, Volume 4, Number 46, Rensselaer, Jasper County, 9 May 1895 — FREE SILVER. 16 TO 1. [ARTICLE]

FREE SILVER. 16 TO 1.

VIEWS OF UNITED STATES SENATOR DUBOIS. , i Mi The Statesman from Idaho Gives Hit Seasons for Advoeatlag the rnlUnlUE Coinage of Silver —Says that It OedK% shadows livery Other Issue. It is very evident to the most casual and Indifferent observer that the cause of silver is gaining ground every hour This is apparent in Germany, England and all the gold standard countries of Europe, as well as in the United States. The most rapid progress and the crys-’ talllzation of sentiment is more marked in the United States, to be sure. Tha reasons for the change of sentiment are easily understood. Distress and hard times are general throughout the world. There Is a prevailing opinion among producers afid wage earners that the era of falling prices and consequent depression in all lines of trade has been brought about by the adoption of the gold standard by the leading nations of the world. Nothing is of stable value now save good gold mines and gold money. There are not many of the former, and the owners of gold money as a rule do not live in th# United States, writes Senator Dubois in the Chicago Record, the only Chicago paper printing over 150,000 copies a day and which has come out In support of unlimited free coinage of silver.

The great majority of people of this country understand, I think, that wltß gold as the Bole standard of money that metal is appreciated, and all things which It measures in value are depredated. It is boyish and unworthy of men who undertake to direfet publlcsentlment to say that silver has not been demonetized. To say that sliver Is still in use and In large quantities In th® United tSates and that it is maintained on a parity with gold is a begging of the entire mohetary question which Is entirely unworthy •of some distinguished gentlemen who have lately expressed themselves. There must b® basic money. On this other moneys rest. There must be a money of ultimate redemption In order to insure absolutely safe currency. It Is a serious question whether there Is or can be enough of both gold and silver to supply this basic money. When both wars used, prior to 1873, they seemed to answer the purpose and remained at a ratio of about fifteen and a half ounces of silver to one of gold. The prices of labor, of wheat, cotton, corn and other products were maintained.

When silver (which comprised on®half of the basic money) was demonetized, when it was no longer recognized as the equal of gold at the mints, but was made a commodity the same as coffee, It fell in value as compared with gold, until now It is about thirty-two ounces of silver to one ounce of gold. The significant fact, however, that wheat and corn and cotton and the value of all other products, as well as ( the price of labor, has fallen with sliver is what creates the great demand for the restoration of sliver as baste money. I have the greatest respect for many of the able silver advocates in tho United States who do not see their way clear to unlimited coinage by our country acting alone. I myself cannot se® how we are to secure bimetallism unless the United States takes the Initiative. England Is a creditor nation. Tho gold standard makes money scarce and dear. This is the advantage of England, and she will not consent to the addition of silver as redemption money unless she Is compelled to. I have no hopes of any international agreement until after this government adopts free coinage. England and the other great nations of Europe will then be compelled to join us or lose their commercial supremacy.

The minute the United States adopts free coinage at the ratio of fifteen and a half or sixteen to one the price of silver will be regulated throughout the world. No one who has given the subject serious thought or who has any regard for his reputation a£ a student of finance attempts to argue any longer, that the restoration of silver by the United States acting independently would cause the country to be flooded with silver from foreign nations. This country could not be a "dumping ground" for silver for the simple reason that there is no nation which does not absolutely need all the silver which it has. There is no loose silver anywhere to come here. There will be ns object in foreign countries sending silver here, even if they had it to spare, because it would be worth as much in each of the foreign countries as here, and they would lose by sending it hers what the cost of transportation would amount to. Some claim that with free coinage all the gold will leave this country. What if it does? Where will it go to? Admit for the sake of argument that it will go to England. The volume of the money in England will increase to that extent, with the result that the price of our products which we sell in England will be enhanced and England will find it impossible to retain the gol<L (P. S. —Senator Dubois is a Republican who has come to the Populist way of thinking on the money question. Now, if he would only endorse our transportation and land planks we would be more inclined to recognize his jincerity. There must be no more •rucking to old parties or old party men for what we want. No matter 4 vhat they may promise, the old parties will never give us free silver or anything else. They can’t fool the people any more. Let the people rally round the Omaha platform.) Government loans would settle this ..ooney question in a short time.