National Republican., 1876-12-23
Tho DoubIe Standard.


A few days since the Cincinnati Gazette pub
lished q long article, telling its readers about
the evil effects of the double standard of gold
and silver, in the course of which, when speak
ing of those who favor the reconciliation of
silver, 1t said:
These persons are easily caught by a pecu.
which sounds scientific, such as the double stand.
ard, which is now doing much service in this
line. If asked TO define what the double stand
ard is and IL It means two kinds Of dollars, diff
ferlng in actual value from 10 to 20 per cent but
legally valued at the same, their mental pro-
cesses seem to run out"
Probably the writer of this extract knows
that there are about 1000 volumes in reach,
written upon this subject, but apparently he
does not know that the more one reads about
the effects of the double standard the less he
is apt to know about the real merits of the
question. Some years ago, 1t will be remem-
bered, that the Chicago wheat market became
notorious for the robberies that were COM
mitted upon the public by the frequent cor
ners In No. 2. Much was written about the
effect Of corners, but finally the idea occurred
to an obscure newspaper Bohemian that II
people could deliver No. at few cents
bushel less than No. 2, or No. l at few cents
DubuCl uOIC buC udIhcL mOulu NC bO UTObu-
ened that no one would attempt to corner 1t.
This proposition was thrown out, discussed
for many months, and some two years ago its
substance was adopted, and there has not
been Q corner in No. wheat from that day
to this. Exactly the same principle applies to
the money question. If we make gold the
only means of payment the money market
can be easily cornered, but If we broaden the
market to include both gold and silver, then
although the cheaper metal Will drive out the
dearer temporarily, the moment q corner is
attempted and the price of the cheaper metal
is raised the dearer metal flows in and breaks
the corner. About two or three years ago the
"Cannibals of Change Alley" as Doubleday
calls them in his Financial History of Eng
land, induced Bismarck to demonetize silver
in Germany. They sent one Of their own
number to get silver demonetized In the Uni
ted States. He spent the winter in Washing
ton, and by slight suppression in revising
mint law accomplished his purpose. We did
not know that silver was demonetized by this
bill, but the Jews of Change Alley did, and
began to put mp the price Of gold. This was
called fall of silver; but mark the point,
silver is not 80 extensively used in England to
have perceptible effect upon prices; gold is,
and no sooner did gold begin to go up than
prices quite generally began to fall; hence
gold rose. As soon as the villainy of these
conspirators became known, Bismarck hesi-
tated about demonetizing silver. On the dis
coyery of the fraud in this country the people
raised such q cry Of indignation that the
"Cannibals" got scared, and they began to
let the price of gold down. This they call .
rise in the price of silver. These facts prove
that the gold market is cornered, and abso-
lutely under the control Of the Jews Of
Change Alley, and it proves further that
this corner can be effectually broken by re-
rnopatf1ipo sflvar