Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-02-08

OF England, and doing away at once with the
dreaded inconvenience of silver account of bulb
and weight.
do not fail, Mr.. President, TO recognize thai
tne cnmmutals and avowals of Senators thi,
question pres lude the hope of nv snb.tuute being
adopted. JUDGED do not fail 10 recognize that OF
this question | am not in line with either extreme
win those who believe 10 the single gold stand.
ara or with those who bv premature and unwi.e
acton. as must regard it. wouli rush us to the
single silver standard. Either will he found, iu
my Judsment, great misfortune to this country
We ne boia gold and silver, and can only
have both by making each the equal Of the other
II would not be difficult to show that, in the ma
tons where both have been fullv recognized the
most widely difu -ed, the stea Hest and most con
unuou- prosperity has been enjoyed; that true
form OF prosperity which reaches all classes, bui
which begins with the day lahorer whose toll LAYS
The foundation of the whole superstructuIe OF
w'auh
The exclusively gold nation like England may
snow the most massive fortunes ia the ru ling
classes, but it shows also the most helpless and
hopeless poverty IN the rambler walks of lite
lne gold and silver nstion like France can eNhib
1t no such individual fortunes a. abound in Eng
land but Ii has peasantry that with their silver
SAVINGS can pay wal indemnify that would have
beggared the gold bankers of London. and Il
which the peassnlry of England could not have
contributed pound sterling in gold, nor sing
shilling IN liver.
The effect of paying the labor Of this country
] III NliNtF co m OF tull Naluf cumoareu with The
nrcdecmaAle paper, or compared even it'll
silver OF Inferior value, will make itself felt in
single generation to the extent Of tens of iions.
perhaps hundreds Of millions in the aggregate
savings which represent cons )lidated capital. 1t
the instinct of man from the savage to the schol
ar, developed IN childhood aud rem aiming with
age, te value the metal, which N all tongues are
called precious.
Excessive paper money leads to extravaganza,
to waste and to want, as we painfully witness on
] - la. laxr a. t,ftl r
lis dem0rsliz NJ destructive effect, hear II
proclaimed in the hall- of Congress that "the peo-
pie dems nj cheap money" | deny it. | declare
such phrase to he total mis- apprehension, a to-
tai msintei probation of the popular wish. The
people do not demand cheap money. They de
mand an Abundance Of good money. which is an
entirely different thing. They do not want a SIN
gle gold standard that will exclude silver and benz
eft those already rich. Tlev DO not want al in
ferior silver standard that will drive out gold and
not help those ahea " poor. They want both
metals IN fall value. IN equa honor in whatever
abundance the hountful earth will Yield them to
the sealc1ins eve OF science and 10 the hart hand
of labor.
The two metals have existed side by side q
harmonious. honorable cOmpa iionshlp a> money.
ever since intelligent trade was known among
men. 1t is welnish forty centuries since "Ahrs.
ham weighed to Ephron the silver viii IA he had
named 10 the audituce of the soos of Heth- four
hundred shekes OF silver-cuuent money with
the me chant. Sluce that time nations have ris-
en- aud fallen, race have disappeared, dialects and
languages have been forgotten, arts have been
lost, treasures have peri>hed continents have been
III covered, Islands have been sunk the sea, a I'D
through all these ages AMI through all these
changes, silver and gold have reisned supreme as
the representatives of value, as the me dii of ex-
change The de enforcement each has been at
tempted in turn, and sometimes the dethronenent
of both; but always 10 vain! Aud We are here
TO day, celebrating anew over the problem VII ich
down u
weight Of the silver, tina, shall be current money
WITH the merchant"