Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-02-20

7 sound thinkers ascribe the misery
n her people In those years TO this yer
I cause. The change from silver to gol
r in Germany should have no cncomium
b from us. II was the selfsbness OF
Q creditor and the far.seeing imperial p,
/. Icy of Bismarck that beheld unity an
y empire in gold and single new stapC
( ard and separate state policy in tb
: continuance Of silver and the old coir
: age. Like every otheract of bis states
mansbip II was to add TO the unity an
+ power Of the German Empire and /
cause their necessities for money /
bring familiarity with the new regim,
TX The argument OF bulk is used bu
the costof transportation Is based upol
> value and not upon weight. In ih
commercial world even gold IL rarcl,
handled. Checks, drafts, and bills o
exchange, as representatives of gol,
and silver, are in universal use Wha
is needed is a-sound basis in the bank
and at the Treasury. The silver dol
lar or stamped bullion lying dormant
there gives vitality and power to th,
paper based upon it. 1t loosens legal
tenders and dgives itvigor TO bank.notes
These, under our system, eifectually
perform the functions Of circulating
medium naturally belonging to the met
ais. The people prefer even your sub
sidiary coin TO fractional currency and
will do no US long a. silver has value as
money. The argument of bulk was ol
little moment in the many years in
which silver money was the sole rep.
resentative OF our coin in the vaults OF
State banks. All that confidence need
ed was 10 know that II was there in
sufficient quantity. Tclegraphs, rail.
roads, and express companies obliterate
the difference in weight. 'lsit thereY
is the vital question.
1t is argued that silver is cheap
that 10 restore il to full legal-tender
quality will tend to'tfestroy confidence
and be immoral. A nincty.cent dollar.
cheap money, cheats, repudiators, are
some of the most shoderaie of the cpl
thets bestowed uPR those who favor
its restoration. FMS is begging the
question; il does not meet il. Cease
to use an article even of commerce and
you cause fall in its price. You de-
monetize silver, stop its coinage, de
prive il Of the money function, and
then you say it is cheap Your action
has cheapened it. Give ii employ
meDt use it in its natural field as a
measure of value; restore it TO its real
place as one OF the bases OF your fi
nancial system, and you add to its val
ue. Ccrnuschi meets your argument
thus 3f-
II is the rnonometallists who sre the authors Of
the Depreciation which nevertheless they point to
"a proof Of he unworthinesa Of the metal which
they cry down. They resemble the people who
having tied up the legs Of horse called out for
him to be killed because he could not galop. A
sage 'ho was passing BY united the ligstares md
the steed few OF.
Our aim is not to pay in cheap
money, but il is to restore the real
measure Of value, both gold and silver.
We seek the use Of white metal as
money. We denounce its relation to
the attitude Of merchandise purely.
We hope and believe that its use as
money will make il equal in value with
gold. II is you who cheaper it. We
seek to appreciate it. Your action in.
evitably cheapens 1t. Ours as surely
tends to its increase in value. You say
that natural laws only can fix value.
that legislation cannot regulate prices.
This is true 10 part. The law Of dc
mand and supply operates upon the
metals as upon every other commodity,
but il your legislation has been uniriend.
ly to the use Of commodity and that
governs the quantum of its use such
legislation has much 10 do with fixing
its value. Congress cannot by law
force up the value Of silver, but il can
restore il 10 its normal field il can
give it large use it can stamp it with
power to discharge debts, and thus
cause both the law of supply and de-
~
manu- ., anu a.. ,ne power ". oi .ne sovereign '
gold.
But II Is said that the enactment of
this law will drive ont gold. Oi course,
II, as compared with gold, silver was
overvalued and there was enough OF Il,
gifted with legal tender power to per.
form the work OF that character of
money, gold would ny IRON us but
our needs for that character OF money
would Dc lar IN excess oil all we could
supply by silver dollars, and this fact
would make the two metals IN their
legal-tender capacity remain with us
always, provided we produce and sell
more than we consume and buy. So
long as we nave commouites 10 sell'
lhoSc ~ VINO ouy lnem must pay lor tnem'
anu u our exports ana imports contin'
w as ~ p.vsen.' ,no oalance WIN come
70 y ,, us,n soIa as before, ltcannot come
~ siiVeI u'',ess .ney ouy our SILVER 10
sar'e..or uo,iars ~ .n's 'o'o"s, we
Jaw a''a'neu tne ues'rcu emu lneir
eqnsh.y WIN go'a' 'ne goiu standard
= & no' 'no ,eVer ~ wnlen golu Is re,
,. ~ p'aoo Ins,anu, WIN go'1
uuinB sne 'en mouths Gnu
W NoNo'sooi io' eApor.eu 'ihe'y
sve m,ll;onse ,h,s ,oa,n,,P Pv,'on ,,ron,,. ~ ~
millions in less ,hon s a ysor T Fr.nca
~ L. u.