The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1876-08-21

rer, aud lEborcr arc dropping down to
ruinopsly low figures. One instance,
sir. from my own State: live stock is
being sold 10 tho eastern markets to.
day for less morsy than We paid for il
last fail the farmer looseS tue grain
that ii consumed, looses tho interest
upon the money, which, BY the way,
is generally borrowed capital, and also
looses his own time and the use Of his
firm, and while thousands Of idle men
are begging for work at fifty cents per
day be cannot afford to give them EN-
ploynent. Everything but money is
upon tho decline; and yet gentlemen
arc urging a speedy resumption Of
specie payment. l have heard a good
deal said upon this floor about the TO-
Justice Of fsrcing the creditor to accept
deprecated silver in payment Of debts;
but there rs another view Of this ques'
tioa. The existing debts Of the coun.
try ware contracted upon . greenback
basis aud should DO paid in grceu5acks,
or in silver, if the debtor prefers it.
A speedy return toa gold basis will
largely increase those debts and com.
pei tho debtor to pay more than be
contracted to pay. That is to say.
his indebtedness will be increased just
in proportion to the premium of gold
over grscnbacks. If tho debt is $1,000
aud payable in rreenbacks. 81 900
will pay it; but if specie resumption
is forced upon the country and gold
shall bear a premium Of 70 per ceut..
it will require $1,l2O in greeubacks
to discharge tho obligation. As there
is not gold enough in tho country to
meet tho wants Of exchange the debtor
must pay in equivalent.
Now, il is said that silver is only
worth seyen:y.nine ceuts on the dollar
in gold. If the debtor had nothing
ether than silver with which to pay he
would be required to advance s. 200
Of that metal to pay his debt. which q
few months before might have been
discharged With $1,000 in greeubaeks.
And this is tho just aud humane lcgis.
lation that gentlemen demand in this
House.
History is repeating itself. We have
only to look to England as far back as
1910. when Peel's currency bill ''for
the restoration Of cash payments" was
enacted. beginning with an issue Of
gold at e. is. the ounce in 1920, aud
ending with the standard unit price oil
G3 l7s. 10id." 1t also. among ether
things. provided for gradual return
to cash payments. This bill passed
with a unanimity rarely ever witnessed
in legislation, aud seemed to quiet the
fears Of nearly all classes. There were
a few experienced fuauciers, however,
who foresaw that i. could not meet the
necessities Of the hour; aus it did not.
Mr.. Goblet was umong this number.
He bad the boldness to say that "be.
fore this bill can be carried out mill
ioa Of persons a. least must die Of hun
GER" As to how for the predictions
Of Dir. Cobbs.t were verified lot tho
historian speak:
Distress is the real parent Of crime.
Keep q people at ease and their moral
teachers mus. DO at fault indeed il the
mass is not well.conducsed aad honest.
Plunge them into misery aud despsra-
ton, and vice aud erimiuali,y shall be-.
gin to stalk through the Slaud. We
have already seen that from the increas.
ing pressure Of tho dsbs and taxes,
and from the ease with which it was
effected. the time Of uttering forged
banF. notes had grown until the juries
got sick Of blood ; aud executions as
spectacle even ceased to interest the
strangely constituted minds that fad
pleasure in such exhibitions. Wcll
nigh. this be when we learn the ap.
palling fact that in tho single year Of
1920 one hundred and fifty persons
we're tried at the Old Bailey alone for
uttsring false notes; and that of these,
forty.six suffered death. being at
the rate nearly Of victim per week
through the twelve months. This,
however, was Gully part Of the mis-.
chief Of the time.
They made political libels felonies,
punishable by transportation, and
lastly, they surrounded tho press with
so many difficulties. publishers Of
newspapers being compelled to give SC.
curity beforehand, to answer for any
libel which possibly might be inserted
therein. and to deposi. at tho stamp
Office copy Of every paper they pub
lished, that unless backed by one Ct
the great political parties that ruled tho
State. to conduct political journal be-
came a matter Of deadly p,ril; and
freedom Of writing was at an end.
Every man who really opposed 10
writing the existing system Of tyranny
and deception was sure Of pecuniary
ruin and the loss ofliber.y-perhaps Of
life. The few honest and intelligent
public writer's at that time existing we're
exilsd or silsnced aud, upon the
whole. the most dismal and dark year
Of English history was perhaps that of
1910. Thct famous ELL hove var