The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1876-08-23

l'nitcd States. with population now
actually cvcrlling that of either Gcmn-
ny on France, and by the end of this
century to be equal to the population Of
both dominating the new hemisphere
by numbers, position and prestige,
while fronting the old on both its
European and Asiatic sides; itself the
filrthcrest west, at which the star of
empire having completed the long cir
cult of the globe, must stay its occdcn-
tai march, expanding in wealth and
commerce with each succeeding day;
tqeming already with numbers, and
tcnfold stronger by the shadow cast he
Ioro of the innumerablc poBtcrity held
in its lusty loins, America is not to re
ccive the law, but to give the law to the
nations. On this question, at any rate,
upon which Europe is divided, the
domination of America is easy and Ger,
tain and even against united Europe
it would be assured on the side Of the
plain interests and immcmorial trNdi
tons of mankind. 1t is not America,
which has at the mouth Of the Hudson
the future and greater London Of the
world, which must conform it's finances
to modern fashion III ThreNdncedlc
street. If the national pride OF Amcri-
ca rose to the lust proportions of her
actual and prospective greatness the
proposition to change our constitution
in It's most vital point would be main
tanned if maintained ut all, upon quite
other grounds than our inability to
sustain our own chosen standard Of
values,
That the general abandonment of
either OF the metals M money would re-
duce by SO much the standard of the
worlds values, is admitted by all re-
spectacle authorities, whatever differ
enCes may exist rs To the best line of
policy to be- pursued under the local
circumstances of particular countries.
Those who, ut the Paris conference Of
1861 proposed this general abandon
mcnt of sill ger, did 80 without attention
to this consequence of II policy wholly
new, and until then not discussed
Those who still, upon any Ineligible
grounds sustain that policy, admit that
the decentralization Of silver curtails to
that extent the mass of money, but in.
sist that such curtailment is only an
quantity of gold, and that under the
counteracting influence of dcmoneti2ing
silver while the aurierous supplies are
mgmenting, the stability Of the worlds
standard will remain unaffected The
answer fails, both in the fact which il
assumes and in its philosophy What
we certainly know is, that the produc,
ton Of gold, although much larger than
before the mines of California and Aus
tralia were discovered, has diminished
by one-third since the supplies from
those sources were Mt their greatest
height, and seems for the present to DO
steadily declining The future of min
ing is OF course obscure, but il is reason
ably clear, at any rate, that it must
require long years OF an annual gold
increase to make up the loss of the
unknown but vast mass of silvcr-the
accumulation of all the ages--and that
it, by possibility, the equilibrium may
be restored for our children the present
generation will beyond peradyenture,
be ruined by its present overthrow, On
any view Of our duty to posterity, we
owe them no such sacrifice as that
But not admitting, but steadily deny.
ing that any increase of both the matals
combined, beyond the increase of the
worlds wealth and the increased need
of money, is either proved or probable,
we wholly fail to see why we should
reject such benefcence of Nature, if,
in truth, it is offered to us, In the Ian
guage of Mr., Hunter, what harm can
arise from any probable increase of the
precious metals, if both are allowed to
swell the volume of currency On the
contrary, n more beneficial event for the
trade, the industry, the moral and DO
litical condition of the world could
scarcely DO imagined"