The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1877-11-24
CONVICTION OF THE sHYL0CKs.

lars of 412l5 standard grains, but to cover them
he employs the phrase expressed in the con
tract" The draughtsman of the bill knew
very well that the only written or printed"con.
tract" between the bondholders and the United
States is the bond, and that only says dollars
1t is needless to say that the Bland bill makes
no such admission in regard to any ''obliga-
tons" of the government, but refers wholly to
private transactions when it excerpts silver as a
legal tender where gold is expressed in the
contract
There is an indeccncy in this incorporate
opposition of the Shylocks to the remonetlza-
ton of the silver dollar that is positively brut
al. What have they to complain OF? Is it the
injustice of being paid in silver for bonds they
paid gold for But the great bulk Of the gov
eminent bonds were not sold for gold, nor for
silver either; they were sold for greenbacks
worth, at the time, only 30 to ID cents on the
dollar Even according to Sherman's reason
ing that they should be redeemed and their in
terest paid in coin of equal value with that
which the government received for them,
therefore, they ought to be paid, neither in
gold, nor yet in silver but in greenbacks. But
the Shylock's are not willing to accept this
outcome Of their own logic; they argue that
the demands of justice require that bonds sold
for grcenbacks shall be redeemed, not in green
backs, but in gold and gold aonc-and they
call this justice. They have all along been
paid from ten to twenty per cent. more interest
l.. -, Ia, ;nctnaI of uilynr than
their contracts called for, and now howl like
enraged wolves because it is proposed to put
stop to this public robbery.
See how these poor Shylocks have Jared
anyhow. As already stated, the bulk Of the
government bonds were boughtior grcenbacks
worth from 80 to - cts on the dollar, and were
made payable in grcenbacks. But when, IN
1869, the bonds began to fall due and green
backs were worth but - cts. on the dollar, so
that if then redeemed the Shylocks would have
got but about 1925 for every $1.00 the bonds
had cost them, they rushed through congress,
very likely by shameful system Of bribery,
the infamous Schenck bill, making the bonds
payable in gold and silver-the latter metal
then being worth 3 per cent. more than gold
BY this piece Of brigandage the people were
robbed Of square $GO0,OOO0O0 for the benefit
of the Shylocks. And now that their contract
thus obtained by fraud TO be paid in coin in.
stead Of grccnbacks again don't suit them, they
clamor for gold only, and hire a vcnal metrop-
olitan press to denouncc all who oppose the
shameful gougc as regulators and enemies Of
the public credit.
According to their idea the way TO maintain
the public credit is Systematically to pay more
than the government agreed to, In 1859 re-
publican congress, "to strengthen the public
credit" changed the greenback debt Of ST.
700 900, 600 into gold debt at the cost to the
people of some S6OOOOO,O0O; in 1873, when
Germany demonetized silver, like demonc
tizatiou was fraudulently forced through the
American congress, again In the interest Of the
Sbylocks 10 strengthen the public credit
and now with the same virtuous and patriotic
object the iniquity must be pcrpctualcd in the
decentralization of silver
These Shylocks are interested in the defeat
of silver reconciliation not alone on our gov
|crnment's account "They hold" as the Tri-
tune says, 'tlc bonds of all nations they hold
the bonds of States, municipalities railroad
and other corporation; they hold the mort
cages on all the houses, lands mines, forests,
and other properties of the people. They in.
sist that metallic money is too cheap; that il
will not purchase enough of other property,
and that the value of gold, in relation TO all
other property, shall be increased by making
it the exclusive money of the world. They in
sist that if there he no metallic money except
gold, and gold being comparatively scarce, the
gold dollar will have cly.incrcascd value
and hence the great increase in the value of
the bonded and mortgage Indebtedness they
hold, both as to principal and interest"
The fight thus becomes one of world wide
conccrnment. In 1870 when Germany de
monctizcd silver it fell TO - pence per ounce
then il has been gradually advancing in value
until now il is worth SD In London, or near
" % cents per ounce, by the American stan
dard of 10 To for gold. OF course the Shy.
locks see that reconciliation by America will
bring up silver AT least two or three per cent
more and bring down gold at an equal rate
cuualizing the two. This illustrates tlrcir
whole scheme, which, by making gold thu
only standard, contcmplatcs its steady and
perpetual increase in value, as year by year il
grows Scarcer in proportion To the worlds
needs and there is no rival metal Ia nil tn,
steadily increasing vacuum. No wonder I'll,
Shylocks can afford To hire Il vcnal press Il
promote such scheme, but every considera
ton OF patriotism as well as common honesty
demands it, defeat.
The Lianton Standard of Oct Goth strongly
comments the proposition to remonctizc silver
in the United States. IL does not partakc OF
A. 81 =