The daily gazette., 1877-11-20

deprive him of all energy? Aye, would
1t not drive him to desperation
Immediately preceding and during the
passage of the Bland Silver Bill, delega-
cation after delegation of bankers from
New York, Boston and Philadelphia
had gone down to Washington to Gin
fuence legislation" as is their habit
when any measure for the public welfare
is before Congress. do not deny their
legal right to do so, but 1 do deny their
moral right to do SO, If the producing
classes actual manufacturers, skilled
labor and agriculturists) cannot be re-,
presented at the same time. People may
prate about Representatives in Congress
being Represe natives of the people but
it is only true in theory, not practically
so. 1t is only when public opinion slowly
rises in honest indignation that reforms
are accomplished in legislative halls.
The silver dollar of a standard of 412t
grains is worth 95 4-10 cents admitted
by the Philadelphia Ledger and one
Now wonld ask how this can be possi-
BILE, that silver dollar of the intrinsic
value above stated is worth less than a
paper dollar which has no intri nsic value
at all, if it Is not made so by legislation.
Suppose we should demonetize gold and
remonetize silver would not gold decline
and silver advance ? Vim. A. Berkeley in
uA6 WOLh Oul Au4uLO
says: AFTER the discovery of gold in
California and Australia, gold depreci-
ated in value and silver becoming the
more valuable metal of the two, accord
ing to the standard established by Con-
gress, deserted the channels of trade.
This was remedied in a measure by the
act of 1853 which changed the coinage of
silver about "se even" per cent: The
| weight of silver half dollars was fxad at
1872 grains, and smaller coins in the same
proportion. The simple fact Is that "gold
and silver huctuate in value like other
merchandise being governed entirely by
the uncomfortable law of supply and de-
mand," and it Is about as absurd to at
tempt to fix by law an Interchangeable
price on gold or silver as upon bushel
of wheat or days labor" .,.4-.r.. -a
Therefore on account of the huctuat-
| ing value of silver during the half cen-
tury previous to the late war 1t was
| found that a standard of 412t grains
would be mean standard and for that
reason the authors of the present Silver
Bill adopted the old and welltried stand
ard and to which the bond-holders
are so much opposed, alleging that
/ it will impair the national credit and
stop the funding of the A per Cent Bonds
Supposing in the midst of the late war
the southern eonfederacy had made their
bonds payable principle and interest in
diamondsJ would it have enhanced the
value of their bonds? Why no. Ana
; tional credit like an individual one Is
based upon the probable ability to pay Its
debts. 'ti -h
Bondholders and their satellites may
pirate about the nations credit, keeping
faith &C.; but that does not alleviate the
sutferings of the laboring classes. II
does not educate their children who are
forced to leave school before having &C
q uired the first rudiments of an educa,
ton, and sent to the factory to work, OF
to sell newspapers upon the streets in or.
der to help maintain the family. Ii
does not replace womanly virtue which
has been forced by poverty into DIS
honor.
In conclusion, Mr.. Editor, 1 believe {
better time is coming. 1 have faith il
the integrity and valor of the statesmen
who are now shaping and directing
human events, and so ably pleading on
rights. believe political adventurer
: must yield to 'tthat instructive sagacltI
, of the people which Is an over-match 10
book learning, and which being the re
! suit of common sense is usually right; ano
being disinterested is always honest"
am very respectfully yours,
n HOWARD SIMPSON.