, 1877-01-18
THE SILVER QUESTION,

10 tls E4TpE " Ahe FHHEf+
CHICAGO, JaTt. l7.-As a riotrcr IN The dis
cnssion Of the silver question, it llas afforded
me great pleasure ~ rcatl tl,u ys.y ubte articles
that have lor sune mouths Appeared III yuur
parer, aud IL Is equally grat!fyiu. to ilul tiMt
where yuur Journal clrvula.cs public sentiment
llAs bcen directed that correct views aru
widely entertained thun wesclcretuturr thought
To be cherished by the pcNple. To my mind
thts IL question Ut much broader i,npurt ll,au
II !ageIcrally conceived ur understood. Hu thdt
Of eraiitur agaast drtlor,-and tic detnonrtixEnx
VI silver Is psultrt cngclnlrrct hy tile greed
Ut the lender tu make the borrower 1nurc thor.
uughly hts klaye tsnn lie would be II the bnetal-
liz currency was a.!urtctl hy the 1'uti"us ot the
wurll. Assuming lur tart, wlilrtl Is very
near the truil,-sllIclcnty Ed Tor the postum
take,-that the tutai value vi silver an.l gulL
Throughout the world IL Acusly equal ah That
b'til nuw constitute what las l'crctosurc been
acrertcsi rs muNey, Or III tic representative Of
the property VI the wurld. thcn, II silver Is
Ietn0nrtIxe.i aud guild unly ia mudo the repre-
sentative gold Is mule worth double what It
VI M wo e. y 1fssy K,a II we5 yy
Is continued. It will be wei! 70 bcar II. mind
that property is always estimated by The ntnuuni
called mpney In circulation. When our t;uvcrn.
nteHt, IN q wMr NECESSITY, tesucd kDIue three
thousand millions, every speclr3 vi cnH1itaity
was st,on doubled. irrttsi, nt,tl cycn G,larur'cl
III taany cases. Fur tinle all branches u bust.
meas were prnsperrd, al"l Imaginary prices
were made to euhf1sln to tlIls fniaglmary
money iss,,r1 to 81 large IN amount;
labor atlynnycd ttlrse-tuil uni 1,any articles vi
Necessity III u much greater prnuurtiuu. Graau-
u1ly, however, this 'arsc Indebtedness passed
trom the hala NJ tho rnMny into thu possession
of the lew. SIIrewA spetlllatoss al,tantd their
millions ulld trHs uf mtli1uIIs. TAu Stc"arts. TIC
EantlerGi'ts, md their class n uprFators in
Amerra aud tho ls"thsr!lsl.ls the barnEs, aud
their claus 70 Err"le, got p"sses,ton ot This
immense national Indebtedness. Then The III
ordinate greed Ut these creditors sought to rtn-
der their KolL unl t1iclr bo,ls iloru valuable
thau rs tuin wtc! tic botMl. wvrv Issued they
WE'RE worth, making thu nntit'nnl tieht tin.lhle
what Il would haEc been uurr The terms u the
cuntr3rt Wien the uct Was c,'l;raetcAi but this
Is not all. 1t extends to MI ctrasts uIl .lcllts
nto during the lust ten Of twelve years.
Those cltles that have borrowed moncy
fnr improvements, those corporations
that borrowed lnnncy To- nlaks railroads
buildings, to Improve their iartns, have to lay
double what they errcvtet to l'ay when the
debts wers cuntrartca ana this property 10 only
worth half what they supposed IL 10 tr worth:
bv this clIango In valuesl The bon'ih1Lltrs III
tits country. and sot gal tn England aud
tiermany. Silver IS rrc.clninrntty ali American
product. The blow ID aimed at AMrEI> an inter.
usks ani American prosperity, but it, REFLEX III
Aueueu extend. u tho mi'lious of ASIA a,nl to
| tbs millions In utLtr puEtiuls Df tls Etnhe.
What right have England anl Germany, with less
thau 10Q,U0u,UU to dictate to the wv Of
the surta what shall constitute tbs lIlelAure Vi
value lor thc!r varied pruductLonst What right
lave these TWO nations to spread financial ruth
far and wltie-bringtng distress upon olheE IA.
tions Injury tu ssales, vitics corporations, a.,l
individuals, unscttnE principles which untold
ages have cunlirtnedt That ito unwlse law Of
ls75 was iussigated 6y tho owners ot gold aud
American bonds iii Europe, ais!cd " thu o"nrrs
af bonds III ills tountry, have not = doubt.
That our Congress without due consideration
should hayo yielded to that lntuenre Is nuct to
be regretted. The evil has ALREADY been very
great, 1t II the part of atl truly have tho t1-
eress Of their country At hcaItto prevent the ex-
tension Vi that eS,l, aud % sool! as possible
remedy It. lI4 future article II will be my pur-
calculated u accomplish that ob}ert. IL.