The Morning herald., 1878-11-25
Wosx1ss xzs UD I75EAfzos.

aEvery Evening" ofFriday night IN
m article undss this caption, very ingsn~
iou,ly slsaeksv the school ef finance, whoss
thinkers differ, from It's idol. In discuss
question in which is involved some
xpowledgs of political economy. - ii re-
late. TO finance, it Is not creditable to |
charge your opponent, with being dsma>
sogue, and assert that he j. telling 4 basel
h'..bood vhsp he ,snunciatss . thsory.
Toere .re 90 few persons who advocate an|
irredssmsbIe paper currency, and are sol
irnorant and Obscure, that II u unfair to
clan them with thoss persons who have
opposed resumption Of specie payments,
because it wm . violation sfths contract
nsds between the people Of the United
States, and tine money lenders when ths
bonds of the United States were issued.
There is no danger OF irredsemaols paper
CART, ey,, and It were honest in the discus.
SION of the financial question to drop it.
The case before the people, 10 the honesty
of the resumptionists, and how far the
lssislation which brought about that msas-
are was beneficial TgAa
Was it honest? 1t Of course must be
adm ltled, if dishonest in its inception, time
i has not changed its moral aspect. The
contract of loan, msde between the people
and The money lenders was, that the in
| terest on the loan was to paid in gold
md to carry out this intent certain revs-
Duss of the Republie, were dedicated to it,
|. payment. In 1859 Congress under pres
sure 81 capitalist lobby passed a law
which In the face of the Constitutional
Inhibition against Congress, passing any
law to inyalidate contracts-declared that
the people should pay the bonds in coin
The effect at once was to increase ihs debt
Of the sountry-snd rob the workers who's
!, lindsstry, va, morigsged TO pay the debt =
: r[ths ssm Of the increase, for the sole bens
Il 6t of the bondholdes, and creditor capi
J., talista. Judged by the Law of God, thi'
3 was lesaliEed robbery. rs..rs.
| When this frightful wrjng was csnsuma
-lted, the result of the Franco German war
= threatened to ehecknate the dishonest plot
u ters. Silver wss dsmonitized by Germany.
Ohoping t. further cripple France by tn
act:-England sel6shly hoping to shsr
someof the fotsam from thewreskof Francs
as all believed that great people lost-alsC
; demonitissd, silver. Coincident therswitl
the production of that metal was largel,
Increased here; Another lobby was organ
: lied, and to deprive the people Of an,
benefit which might flow from the cheap
ing of silver, it was dsmonitized here. I
o by combination of circumstances, politi
rs cal and providential, silver fell in prize
I'll was it honest or fair to pass law, to pre-
u tect one class Of people from the effect {
. the fall, and injure the larger class by sue
In legislation The men wto passed thes
D. 'liaws, we're either nnwise, or dishones
oy Silver was again remonetissd, as was fai
20 "a aud just, as the people were justly sntit
:. cd to profit by its abundance. -
The men who labor, to still further Dc
v lpress values, by forbidding sllyer eur
a rsnsy, whether intentionally, or otherwis
y; are taking their place as oppressors
RS labor. 1t is all very well, for rich official
I'd. whose lines Of life, never cross a workin
)r. mans threshold, to talk Of honest none
a while they orates.--poor man stsrvss.
lc. In England they have "honet money
~ Well what of it? A telegram from Lol
~ don lew days ago announces rsductio
ha 10. ten per cent. In miners wages in Clsv
"a land, England, and states that the Oldha
he cotton masters have refused ths request
the operators for the postpcnement of
nd similar reduction there. A lookout is al
of threatened by the Clyde shipbuilders III
less the reduction they propose is prompt
submitted to BY their workmel. Wht
such reductions of wages are announced
W this country, they are explained by ii
60 statement that we are getting back to Il
~. normal standard of value from which &
inflated currency had hoated us ava
ste This explanation will hardly hold goo
ich in England, which has not departed fro
lis = hard money basis for more than half
RS century past yet reductions of wages a
ton about as frequent there as here, psrhap
lict even more 70. There is, however, got
inE reason to believe that in England, as we
i've as here, the fall Of wages is largely due
a change in the standard of value. II