The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1878-01-18
Hard Facts for Hard Money

Congressman BANDS Letter to the New York
independent.
If silver is everywhere demonetiZed
all realized capital and fixed securities
would double IN value, as compared d,
all other property. The owners OF this
property would hold the rest of man
kind as slaves forever. The debts
could never be paid. If the holders OF
these bonds would agree TO cancel one
half the principal, in consideration of
demonetiZing silver, their theory of a
single gold standard would appear
something like "fair and honest" A
single standard OF gold means no more,
no less, than a fixed and permanent
national debt, the interest OH which
will be an endless drain upon the labor
and resources of the people through
all coming generations. To compel
the people to see the honesty OF all this,
a standing army will be necessary {;
State lines and State authority oblit-
Grated a centralized government sub
stituted.
The greater part of our national
debt is by law payable in lawful mon
ey, or greenbacks. There was no con-
sideration for the passage of the act OF
1869 pledging payment in gold and sill
yer coin. The act did not appreciate
the bonds in the hands OF the govern
ment, for the government had long
prior thereto sold them and received
Tor them paper money worth from bO
TO 60 cents to the dollar in gold and
silver coin. The effect of the act was,
for no consideration whatever, to trans
fer from the pockets of the taxpayers
to the banks of the bOndholders about
six hundred millions of dollars. But
now to pay these bonds in silver mon
ey, the money specially named in the
act of 1869, is called dishonest. 1t
would not do to permit each State to
coin money and regulate its value, for
reasons before alluded to. But the
constitution is quite clear in fixing
gold and silver coin as the legal-tender
money for the States. We have plain
ly a bi-metallic constitution. The
States are bound together with gold
and-silver cord. No other money Is
named in the constitution. IfCongress
can demonetize silver, 1t can demone-
tie gold also. This will necessitate
paper money. If the bondholder de-
mands the characterization of silver, the
taxpayers will demand that gold be
demonetized and the payment of the
bonds according to the original con-
tract-''to-wit," in greenbacks oil
Treasury notes. The true way ont Of
all difficulties is the lawful way, the
constitutional way of bi-metallic mon
ey. Restore the silver dollar of the
fathers. Obey the law. 1t is never
safe TO oppose the Will of the people
when they demand their legal, consti-
tutional rights.
The law demonetiziug silver was not
demanded by our people. Indeed, II
was stolen through Congress by a sci
of conspirators- These cons pirator'
are, to-day, moving heaven and eartf
against its repeal. A subsidized pres,
fOams with rage bondholders come Il
lobby against the repeal. They infesI
committee rooms; they take Cabine
officers captive TO the white House,
and try to bulldoze the President int
a veto. Smirched and hypocrtical di
vines are paraded la the pulpit, TO ful
inmate anathemas against "silVer in
fla.Ion." The people s1e intentlI
watching ali these maneuYres, Err
long their command will come 81
step down and out" The air Is redo
lent with the oxygen of revenge q
those who proclaim gold for the rict
and bread and water for the tax-pay
ers. "Whom the gods would destroy
they first make mad" Let thes'
heartless Shylucks, their agents, allies
and soulless soul-savers beware. Gu
enormons debts, National, State, ant
Municipal, constituting $6,000.00O,O 00
are by law payable In bi-metallic mon
ey. When che existing debts Of tn
nations of the world were contracted
the world was practically bi-metalliC
Silver has been money from the earl
lest days. To demonetize it now, an
require the debts of the world TO b
paid in gold would be the creates
crime against mankind since the IA
OF Adam. IL will not be done withou
a revolution that will crumble empires
reduce palatial cities TO smoulderinl
ruins. and drench the world in humal
hlDOd i p i