Show I HONEST HONEY I The Silver Dollar Is the Only Honest Dollar I I I William Jennings Bryan in the July I I Arena We hear much about a stable I f currency and an honest dollar I I I is a significant fact that those who advocate I t ad-vocate a single gold standard have for I S i I the most part avoided e discussion of I I II the effect of an appreciating standard They take it for granted that a gold I Te i standard is not only a honest standard stand-ard but the only stable standard I denounce I de-nounce that child of ignorance and I avarice the gold dollar under a universal i I uni-versal gold standard as the most dis I I honest dollar which we could employ I I stand upon the authority of every I Intelligent writer upon political economy I I econ-omy when I assert that there is not and never has been an honest dollar I An honest dollar is a dollar absolutely I stable in relation to all other things I Laughlin in his work on Bimetal I Laughln lism says I Monometallists do notas it is often of-ten said believe that gold remains absolutely I ab-solutely stable in value They hold that I I there is no such thing as a standard > of value for future payments in either gold or silver which remains absolutely II absolute-ly invariable He even suggests a multiple standard for longtime contracts I quote his I words woros As regards natonal debts It is dis i i tinctly averred that neither gold nor i silver forms a just measure of deferred payments and that if Justice In long i contracts is sought for we should not J seek It by the doubtful and untried expedient ex-pedient of international bimetallism certain meth but by the clear and I od of a multiple standard a unit based i mulple upon the selling prices of a number of of general consumption A articles consumpton I longtime contract would thereby be + paid at Its maturity by the same purchasing I pur-chasing power as was given in the beginning I be-ginning Jevons one of the most generally I I accepted of the writers in favor of a I gold standard admits the instability of I I a single standard and in language very I i similar to that above quoted suggests I the multiple standard as the most I equitable If practicable Chevalier I who wrote a book in 1858 to show the i injustice of allowing a debtor to pay his debts in a cheap dollar recognized i r iraC Ps the same fact and said If the value of the metal declined the creditor would suffer a loss upon the quantity he had received if on the I contrary quantt it rose the debtor would I j have to pay more than he calculated h3e i I upon I am on sound and scientific ground therefore when I say that a dollar approaches therefor proaches honesty as its purchasing power approaches stability I I bor thousand dollars today and next row a dolars year pay the debt with a thousand dollars II dol-lars which will secure exactly as much lar of all things desirable a the one thousand thou-sand which I borrowed I have paid in honest dollars I the money has increased in-creased or decreased in purchasing power I have satisfied my debt with dishonest dollars While the govern dishonet of ment can say that a given weight gold or silver shall constitute a dollar and invest that dollar with legal tender ten-der qualities it cannot fix the purchasing pur-chasing power of the dollar That must depend unon the law of supply and demand and I may be well to suggest sug-gest that this government never tried to fix the exchangable value of a dollar dol-lar until it began to limit the number of dollars coined |