The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-02-01
settling congressman.

Tho Silver men in Congress think they are
settling the financial question. The real
fact is that the financial question il settling
them. History will record their folly ami
weakness as II has heretofore relentless J.
recorded the Ignorance and folly Of legisla-
tors on this subject ON both sides Of the At
lantic. who could not or would not discern
the truth. or separate it from error
The phantom If cheap currency has been
pursued In various ways In dilrcrru, genera
tons and different countries. aud always
with the same result: first. disappuint-
mcnt, then repentance, and then - return to
tho old and only way real money ui the
universal standard of value. History has
preserved the record of the legislative
blockhcads who. ut numerous times AMI in
various plucc- hay" signaliZcd themselves
tv supporting the theories Of cheap money.
deprecated money. AMI abundant issues of
T. as the royal road to Il financial paradise.
Never has human experience TO mu''
than one result in all the experience ui all
the soft money men who have eyer lived.
Wherever and whenever their theories have
hncn tried utter failure and di-cumiit urc
have followed.
.roHN LAW had full swing with those
theories after the long exhaustion OF France
10 the early part of IN" eighteenth century.
l3ut be- ignominouSly failed and was driven
outoi 10 Kingdom 10y popular rage. Repui,-
Lean France. at the clO-r OF the same CEN
'uiy. tried the same experiment with her
t.-ignat~. but everything went into coniu-
-.,ii and ruin. till HuNArAEtE brushed away
',l" whole heap of rubbish and restored u
-oiid standard ui value. \ cruwd OF English
plpcr-muncy theorists. who at one time ia
thc early pant Of this century controlled u
majority OF Parliament were barely
thwartcd by the sound currency men of that
country who took Great Britain through
her pcrils and preserved the national stand
ard in the supreme hour OF her financial
trials.
In this country IL has been just the same
II is pitiful to read the debates and see the
votes of Rhode Island and Connecticut then
colonies, and even Massachusetts. in nj
tempting to force the circulation of drpir.
riated money, before the Federal Union was
formed. So disastrous had been the failures
in Massachusetts before Coy. HUTCHINSON 5
time that lac confidently predicted that no
such experiment would eve. be- tried again
W lttb Dc MS Hlf'iilt ttllih lif' All -f
and witness the record Just made by the
Congress of the United States after all these
years Of experience and enlightenment
There stand the crowd Of deprecated
money advocates. there stand the debates.
there stand the arguments, and there stand
the uniform discontinue and disaster OF
them all, when the whole story j. written
and the final tale is told. The result has
been precisely the same In every instance
The foolishness Of every effort 10 establish
\ deprecated currency has been demon.
strated by every recurring experiment.
There must be II fixed standard vi value
and this must be- the universal standard Of
civilized countries. This IS the irreVocahe
law. They who TALL upon this stone shall
t-' broken, and they upon whom II shall fan
wUl bee ground to powder. Gentlemen of
',rgrr--. brhuld your doom You are rc.
.a'ng history. apparently without know
.. %. and when IL is too late To- save yuul
.. intinn- for either scn~r or patrlut ism
N n iiid yourselves Mingled with that
trir-- multitude which history hu,
r,h the last live generations condemn,
.u gibhrird Tor their stupidity AMI folly.