The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-09
REMON OF 5ILVRE.
We find the following interest
NO historical article in q recent issue

of the Chicago Irib'lue.-
When Sir Isaac Newton was warden
of the mint III England, lie made dls-
covery which was as important as that
of the law of gravitatlon.
Newton. together with john Locke.
who had been called into the couhclis
of the British government during the
terrible money crisis in England our
inc the reign of William Ill, dlscoV-
cred truth which The Tribune IS
heralding through the length ana
breadth of the land in the interest OF
the people, VIZ:
."rhat where silver has been Demon
etiZed and driven from the circulation
of country. it necessarily sendS the
price OF gold up higher, AND that a TAU
in gold will inevitably follow, ana 10y
no human ingenuity can he made 20
precede a recoinage OF silver
The silver coin Of England during
the reign of William l II. had been de
based or demonetiZed, not by one
sWeeping act Of the legislature, but by
the wholesale manipulation OF the com
by hundreds OF companies ana bands
of men, who by the use OF aeIcate
machinery had been for years pairing
down and tightening silver coins I'M
til at last the entire circulation was
demonetiZedo and all the heavy com
which escaped this process was driven
to other countries.
Macaulay says the result OF al TINS
was the accumulation OF enormous
wealth by few bankers, who awaited
e II D al
themselves deXter0uSly OF lnOuSdilo
DpportunitieS Of profit, ana, Wheh the
trade of the country was most depfeSS-
ed. they amassed fortunes which olt-
riyalled those OF the proudest noblll-
ty- In the universal panic winch FOL
lowed the discovery that the silver
coin of England was practically de-
monetiZed, the only class which pros
pered were the large bankers OF Eng
land. Commenting upon the state OF
the silver coino of England ut this time
Macaulay SAYS in his History OF
England:
"Itmay well be doubted whether all
the misery inflicted on the English
nation in a quarter OF a century by
bad kings, bad parliamentS, ana bad
ministers, was equal IN single year
to that intlcted by the insupportable
curse OF this debasement OF the SILVER
coin, which had been the standard OF
values for the realm.
.sThose events which furnish the
best themes for patriotic or indignant
eloquence are not always those which
most affect the happiness OF the peo-
pie: when the great instrument OF
exchange became deranged, all trade,
all industry, WAS smitten rs with u
palsy"
SO grave was this crisis in England
that Il special parliament was assem-
bled. which went ut once INTO a
committee of the whole on the state
of the nation. Sir Isaac Newton. the
greatest intellect of the age, and John
Locke. were called into the govern
ment, and Newton WAS made warden
Of the mint. Newton and Locke de-
clared Us the result OF their investiga-
ton that lit was not the high price
of gold which affected the state SO
disastrously. but that such high price
was only Il symptom of the evil, ana a
fall in gold, rs Macaulay says, would
inevitably follow, but by no human
agency could be made TO precede the
restoration OF silver. Parliament
passed II recoinage act, aud Newton set
ten furnaces at the mint going night
and day to restore the silver com OF
England to its old standard of weight
and fineneSS. After the new coins be-
gan to go into circulation, gold began
to drop down. and soon came to Its
natural equilibrium with silver ano
became interchangeable herewith
The panic ceased, and confidence be-
came again restored.
The effect in England of debaslne
the silver coin piece by piece was
exactly the same Us the effect OF oul
act Of congress demonetiZing silver
As in England. 1.-The heavy coin goes
TO foreign lands. our heavy trade
dollar being now in the circulation O.
China. India. and Japan.
We did not demonetiZe silver here
piece by piece. but by one sweeping
act of congress acting in the interes
and ut the suggestion of Mr.. Ernes
Lloyd. the agent Of foreign hondhold
ers and svndicates of capital. VIII,
brought 100000 sterling to effect TIL
characterization of silver in America
The English nation hanged the ring
leaders of their silver conspiracy o.
Holborn Hill. Let the people at leas
retire the legislators of foreign bond
holders in our congress to private life
The aurophobist can never deny tn
automatic truth first discovered b
Sir Isaac Newton. that the restoratio
of the silver circulation of a countr
brings down gold to an equilibrium
with silver. and makes silver and col
interchangeable.
On this common ground the greer
back men and hard money men ougf
tomeet. for. by Il restoration of silve
gold. silver. and paper-money will I
Interchangeable. and contraction wi
cease.
Let the people once understand tn;
the demonstration of silver was nj
even passed through mistaken polio
but for the purpose of enriching TO
eign capitalists and banking synd
Gates, and they will demand tinanci
policy in their interest, and a restor
l.