Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and PatriotEverett, Marshall
History
Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and Patriot
“Enact a law, to be rigidly enforced, providing that no meat of any
kind, whether ‘fish, flesh or fowl,’ except mutton, shall be used for
food. What will be the intrinsic value of your beef cattle, of your
swine, your poultry, and your fish to-morrow? The mutton-headed
monometallists would tell you that the great increase in the value of
mutton was because of its intrinsic worth. Let this Nation and the
commercial nations of the globe enact a law to-morrow, that neither
cotton, nor silk, nor fabric should be used for clothing or covering,
forbid the factories of the world to spin or weave aught but wool, and
what will be the intrinsic value of cotton or silk thereafter? Wool will
be king; its value will be enhanced, but cotton, hemp, and silk will be
as valueless as weeds or as gossamer webs.
“With the mints open to free and unlimited coinage of both gold and
silver there has never been a moment when silver has not maintained its
parity with gold, and a ratio of 16 to 1 commanded a premium of more
than 3 per cent over gold. And if, by some fortunate discoveries
to-morrow, gold should be found in great quantities sufficient to lessen
the income of the annuitant, the bondholding, or the fixed-income class,
there would arise a demand for the demonetization of gold and the
establishment of the pearl, ruby, or diamond standard of values.
Whatever standard can bring to grasping hands and greedy hearts the most
of the toil, the sweat, and unrequited efforts of his fellowman, this
standard will be demanded by the representatives of greed, and must be
resisted by those who represent humanity and Christianity.”
United States Senator Julius C. Burrows, of Michigan, in replying to
free coinage argument, said:
“Coin silver dollars at the ratio of 16 to 1 or 20 to 1 and you have a
dollar intrinsically worth less than the gold dollar, and coin such a
dollar as that—permit the owners of silver bullion to bring to the mints
of the United States, and have manufactured into dollars, a certain
number of grains, worth in bullion much less than after they are coined,
is a proposition to which I cannot give my assent.
“But it has been stated and repeatedly asserted that the present silver
dollar is the ‘dollar of the fathers.’ That statement is not true. It is
not the ‘dollars of the fathers,’ and the fathers if living would
repudiate such an assumption as a reflection upon their integrity and
sagacity. The silver dollar of the fathers was intended to be and was in
fact practically equal to the gold dollar in intrinsic value.
“This contest for the free coinage of silver began in 1874, and it has
been prosecuted with unceasing vigor ever since. Why? Up to that time
the silver dollar was worth more, intrinsically, than the gold dollar,
being worth in 1873 $1.03 as compared with gold.
Public-domain text, read in full here on John Shaqi.
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