The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1870-03-11
DEER LODGE CITY, FRIDAY, MARCH II
GOLD no.

The United States began their career will
several Important political problems on hant
forsolutlon. Europe is satisfied they are invul
nersb!c to foreign aggression. It Is demon
stratcd Peoples government possesses thu
cohesivcness of patriotism In the eminent
degree The reservation of governing au'
thority BY the governed las given the Ma.
ton vigor, growth, intelligence, indepen.
dcnce and progrcssvencss. In lifetime,
three millions have become forty millions
subdueda contincntof wilderness to hcyi.
tagc Of wealth, and ranked the experiment
Of sell. govcrnmcnt" as first power of the
earth. We received the baptism Of blood
passed the ordeal of attempted resolution.
The latter cntailcd enormous expenses.
The obligations Of The government, to which
tho faith Of the Nation was pledged, sold on
the streets of New York, July 10, 1904, for
Ssi cents on tho dollar, aud the expenditures
Of the government approximating to 80, 600,
900 per day. Peace came with a debt of
$1,000, OOO, 600, and the State and NUM-
cipal debts aggregating nearly As much
more; with every industry disturbed thc
pillow stopped in tho furrow, rust on the
pistons, ships rotting at the wharvcs. the
sand beloved with mounds above or whitcn-
cd with the bones Of the young men of the
nation. Had the country the rccuperative
energies to recover? the ability, the honesty
To meet its obligations? England is rccog.
Mined rs tho great industrial Nation-thc
sountest financial power of Europe. 1t was
thirty years after her great wars before
specie payments were resumed, and tho
ashes were long cold on the hcsrths of her
artisans. In lS6G-thc year after tho war
the increase Of wealth by the public earnings
and labor in tho United States was 50, 49,.
Co., 600, or over three and half times the
entire amount Of tho debt, and hos increased
each year since. In 1868. the United States
produced ,405, 429, coo bushels of cereals
or lS4 ,00o, 54S more bushels than in 1860
In the year ending March LIST, 1870, the debt
Of the United States was decreased 500, co.,.
600, end the revenues BY June LIST, 1870, will
leave surplus for nine months of SIC, 75O,-
600 over the expenditures On the 9th of
March, 1870, Grccnbacks sold in New York
90 cents on tho dollar, an increase of value of
Of over two hundred and thirty seven per
cent. in five years aud nine months, while
in some instances in New York aud Cincjn.
natl, specie payments are actually announced
resumed.
History records no growth and develop.
ment like that of tho American Republic.
No government ever suppressed rebellion |
moro earnest, formidable, and hard fought: |
none ever restored 80 quickly to the con.
quercd the powers they had forfeited. And |
certainly grand and fitting climax to these
triumphs Of tho Republic is the
Of its financial integrity through
all, and tho appreciation of its obligations
to practically gold value. in less than six
years from tile time of its greatest dcprccia.
lion and without statutory coercion. In all the
issues that try tho foundations of Govern.
mcnls, ours has stood mistaken. From the
resultant evils Of war, its people arc cmcrg.
ing rapidly into prosperity Although
trade may be checked temporarily and the
apparently suffer as lie holds
stocks purchased at prices based on dcpre.
ciated currency, It is tho inevitable result
sooner or later of the imitation by which he
made cent per cent in the past. Commerce
will feel the steady pulse Of health instead
Of the fcvered throb. It Is scarce possible
that specie payments cali be at once estab-
ished, but We now approach 80 closely 10 it
that trade returns to legitimate basis.
At first thought 1t strikes one that the de-
cline in gold is detrimental to US as gold
bearing Territory. Gold is our product.
If ii declines in value our product Is that
much lcsscned, and unless the values of tho
We purchase with It are cor.
decreased We are 70 much los.
'rs. Eut we are not loser by gold quoting
Il 10: would not be gamers by its return
ng to 2S5. The unit of value is the gold
lollar. Its value is intrinsic, fixed, un-
Manageable There is really no discount or
on the gold dollar. 1t has an intrinsic
'aluc to tin: amount no less or more. The
,apcr dollar has no intrinsic value Its val
,e isderivcd solely from the trust reposcd in
he party issuingit, and promising to redeem
I. Rating gold at2. s. was IN expression pos
IDLY justifiablc rs convenience, but I'm.
Y arranted by facts. Grccnbacks at dis.
,ouns, vas the real fuctuation. All values
rave some unit standard. Ours being the
.old dollar, and greenbacks the circulating
Medium, prices went up - greenbacks went
Town, and tho value of goods by gold
tandard was thus maintained. Az green.
Jacks appreciate prices adjust themselves to
be change. So, Montana producing twen-
y millions in 1870 with greenbacks at par
, just as well of % though they rated 1t
70 conta 1t Is . product Of exactly 20
much valuo on the gold basis, and immutable |
y the unit standard itself l.
The operations of gold-g,mblers; m i'm.
'ortsnt crisis sprung upon the country; .
corner" when the Government needs = few
Millions for coin interest, may again tenn.
'orarily deprcciate grcenbacks, - it did
september 25th-but temporarily only. The
National credit Is established Ten per cent.