If Not Silver, What?
"If Not Silver, What?" by John W. Bookwalter is a treatise on monetary policy, particularly focusing on the controversial topic of bimetallism, written in the late 19th century. The work articulates Bookwalter's strong advocacy for the reinstatement of silver as a standard of currency alongside gold, arguing that the demonetization of silver has had detrimental effects on farmers and the economy as a whole. The author leverages his personal interests and experiences as a landowner and manufacturer to present a case for monetary reform that emphasizes the stability and equality of value between two metals. The beginning of the work establishes Bookwalter's intent to engage with a wide audience, particularly the working producers, urging them to contemplate the implications of the monetary system on their livelihoods. He references historical speeches and economic principles to bolster his argument that a bimetallic standard can provide a more stable and just economic environment. Bookwalter discusses issues such as the perception of silver's value, the burden of debt, and the impacts of fluctuating currency on agricultural and industrial prosperity. Ultimately, he encourages an open dialogue about monetary systems and their real-world effects on people, particularly those tied to agricultural production.