New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-04-15
GOLD WORSHIPERS.

OOLD WOhDa1EbhSs
The world has always been cursed with
gold worshipers. In olden days a foolish
. old king called Midas, who entreated Bac-
chus to have everything he touched turned
into gold, lived to see the folly Of his wish.
and since that time many a gold worshiper
has been brought to grief A few years
ago the gold worshipers Of Wall street be.
came intoxicated with the power Of gold,
and through it undertook 10 control the
government and destinies of the people Of
this great nation. They had heard much
of the influence of British gold, and knew.
that gold was the controlling power
with the governments OF che Old
World, and hence argued it could
be made the great governing power
here. Elated with this grand idea, that
was not only TO crown them with great
wealth, but give them control of the gov
eminent, the gold worshipers Of Wall
street commenced their fight with the gov
eminent of a free people. Believing they
had cornered the governmental other
words had it in tight place-they com.
menced TO run up the price of gold, and
with the aid of foreign influences, inter-
ested in the scheme, succeeded in creating
a panic. which they hoped would result
in compelling the government to yield to
the power of gold, and force from it a
financial policy dictated by the gold wor-
shippers Of this country and Europe; the
men who think gold-and not the people
should control governments. But, for.
tunately. the government was neither
frightened nor cornered. It suffered the
gold conspirators. and whoever felt like
bending their knees before the golden
calf, to enter upon their golden specula.
tons to their hearts content; and when
the golden bubble was at height most
dazzling to its worshipers, the government
quietly stepped in and pricked it, leaving
them to realize the folly of making gold
their god. Since that memorable day
known as "Black Friday" among the
gold worshipers Of Wall street-when
gold was on the rampage and the gov
eminent forced it to its proper level in the
values of the country. it has not dared to
Improperly assert itself. 1t may be well
to remind the gold worshipers of this and
other countries that the chief values here |
do not consist in gold and silver; here,
where gold and silver are taken from the |
earth in greatest profusion the year round. |
We have untold values in our public |
lands and in the various products Of our |
cultivated lands. Our country is capable |
of supplying the world with food and yai- |
ment. besides furnishing it with the pre-
cious metals. and its curency-.-no matter
whether it consists of bank notes or
coin-should be good as gold-and would
be did not the extravaganza Of our wealthy
classes. who spend much of their time and
money in Europe, help the brokers and
money-changers in giving q fictitious value
to gold. But there are doubtless other
causes more potent than this which help
to give q higher value to gold over our
currency than could exist without them.
The financial troubles Of Europe must be
more or less felt il financial circles Of
this country; and when we recollect the
power that gold sways over the govern
ments of Europe we should not be sur
prised to find that power exertiug itself in
this country. Gold has again assumed an
attitude in Wall street, where
there is evidently combination disposed
to measure strength once more with the
government.
Congressman Kelley, of Pennsylvania,
has recently given his views Oh tie
present financial situation of the country.
nd they are published in the Philadelphia
Press. They we're called forth by the fol-
owing editorial paragraph. which also ap-
3eared in the p, es>
IF Con ;ress had adopted Senator Buc'.-
ngham'@ or even Senator ShhImau's prop
'siti3n, the present would probably be H.. |
asst Of the monetary pauics that MT. Jay
}ould or any one else could create. In the
present case all the circumstances favor this
droit and INSCRIPTIONS Spectator.
Nh. Kelley dissent5 from the above
Jews. The following is an extract from
is reasons for so doing. Upon Nj. For
ey, of the Press, remarking that he had
ot given his reason Why the Buckingham
nd Sherman propositions would have
cen imperative had they PASSED, Mr.
Lelley replied:
l think l have already answered that
uestjon when l said that all processes for
ompelling resumption must be iucpera- Q
we under the state of facts | have de {
cribed. | believe that every effort to Gre '
te a spasmOdic resumption at specie pay
lent Only postpones the day Of permanent |
Let ne illustrate: | speak 4
Tlthin the bounds of moderation when | 0
y that there are a thousand millions of c
ur foreign indebtedness which is practi-
ally overdue. l: IS true that our bonds