, 1876-08-05
Two Monetary Metals.

\ shcr' time since letter was published IL
the Gyapke from person said TO be employed
in one Of the greatest banking houses IL
Europe, in which it was alleged that within
! the knowledge Of the writer great many
bankers and capitalists had formed a secret
eague with far-resching ramIhuations. hav-
ng for its object the destruction of silver Is a
Standard of vslue. Il was seen by them,
according to this story, that if gold was
made the only money, it would become
| scarce and raise in value. and that such a
raise would still further Augment the wealth
Of the rich.
This account went on TO say that Bismarck
had been induced to adopt the single gold
standard for his vast realm. and that it was
already in operation in England, which
adopted it after the Napoleonic wars, be-
cause gold was cheaper than silver, and that
other nations would soon follow suit This
secret league also managed to secure, in
February, 1873, Congressional action, by
which law was passed, almost unobServed.
setting aside the silver dollar. which had
been the unit of value for eighty year,, and
substituting for it the gold measure. This
not only made gold the standard of all gov-
ernment Indebtedness, but eventually carried
with it the ultimate measure in gold of all
State, county, municipal, corporate and
personal indebtedness.
But this single clandestine act untold mil
lions were added to the burdens Of the debtor
class in this country.
At first We were disposed TO question the
statement of our Paris correspondent, but We
are now convinced that there has 6..en a de-
liberate conspiracy by the Rotchschilds, Bar
ings, and the great bankhOuses of Europe
and America 70 add an enormous burden 10
debtors and to enrich the holders Of unin-
cumbeDt capital. Il is time the country
was aroused to It's danger. The anuihilation
of our cheapest standard Of Valus is a direct
robbery of producers, and it Ought to be re-
stored without delay. This is the overuIaster-
ing financial issue of the present hour.
Il is idle to talk of resumption in gold
Such resumption was rot nominated in the
bond. The debt was contracted TO be paid
''in coin" To insist on its payment in gold
exclusively is an outrageous breach of the
public faith, and, if the demand is yielded
20, it will result in the distress AID affiiction
for the next ten y~a-a CT every na'erial IN
terest in The country.
This Is not merely National but a oosmo-
politan question. TIE hard times all over
the world to-day are due to this neiarious
plot of capitalists to enrich themselves by
making, under a false pretenso, an arbitrary
addition to the amount Of money due.
1t is a new levy of the consumers on the
PRODUCERS. We give some extracts today
bearing on a s2hcmc from Senator jones
rpceah, from The Chicago Lier Oa1za and
f,o;n the Cincinnati Co-sasyr;a!, which stimuli
laneOusly sec the peril and join the Gfos'Eie
in raising the note of warning. These show
what ails the Nation. and what has paralyz-
Cd commerce throug ghout She civilized world.
The great question of the day is the restor-
alton of The double STANDARD and the making
OF the America0 dollar the legal tender for
all debts the same as ia ths silver five-frgnca
,,iaoa IN thrifty and uroures-iya France The
prosperity Of lhe great E"rnpean republic
AS compared vi h the rest Of the world, not
withsranding the enormous Indebtedness due
to the German war and the poverty and dis
tre-s If the conquernr. are both dne to the
fact that Germany has attempted to exter-
inmate silver, while France has made II
welcome guest. The question in America
now is not the immediate resumption of spscIe
payment, but the immediate restoration OF
silver as a standard of value to the place it
occupied under the the monetary laws of the
country from 1898 to lS13,-N. \, G7gphir.