The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1878-02-14

trail and South America, first into slave
ry and then out of existence, in thei
accursed greed and thirst for gold ant
silver. Throughout all our colonia
history these metals were linked to
gether in an embrace that no convulsioI
conld tear asunder. And when gu
government emerged, weary and blood
stained from the revolution, our father
found them standing together on tn
threshold as & mighty tradition of al
the past. They were adopted together
as our measure of values, because Other
nations had done the same. They en-.
tered their career as American money
together, equal in dignity before the
law. By the Constitution of the u nited
Sta es they were introduced into each
new incoming State of our expanding
union, on terms of absolute equslity
We find by article section 10. OF that in
strument, that mo State shall
coin money, emit bills of credit, make
anything but gold and silver coin ten
der in payment of debt"
From that day to this l challenge
every page of American history to show
8 single instance 10 which the silve
dollar has not been as brave, as firm
and AS reliable as the gold dollar. !
challenge the sad records of every q jan
cial alarm, panic, or crash that ever
beiell US to show where for a siRgle day
or hour silver was not As intrepid and
fearless in the money markets IS gold
From 1892 to 1873, from the coinage
of the American silver dollar to the
day of its insidious destruction, eighty
one years, gold and silver never fuc-
tuated in their relation To each other
but fraction over 3 per cent, and du
ring most of that time silver money
ranked higher than gold money, and
did so the day it was destroyed. 1t Is
true that both these metals, so precious
in the traditions OF mankind, broke
down at once when this Government
was called on to fight for its life, when
the ultimate and extreme necessity OF
the hour demanded q money stronge-
than them both, based on the confidence
of the people that their Government
would live and not die; yet when they
fell, they fell together. Neither the
one, nor the other, nor both united were
sufficient to make even q respectable
Struggle for national existence, and
they abandoned the field on the Fl rst
roar of hostile cannon, but silver did
not fee any sooner or get under oover
any quicker than gold. 1t may then, l
think, be safely assumed in the light OF
all experience that the real reason for
demonet zing silver is not to be found
in its failure to be the peer, under all
in all ages, and in 81
nations, of the other precious metal,
which has now become so strangely, so
suddenly, and 80 surrsptitiousiy exa ted
in the eyes of the money power MS the
sole standard OF values.
Pursuing our inquiry, therefore, on |
his point, we come next upon one OF
he principal reasons now assigned for |
abandoning silver coin as m )ney. 1t is |
.rLe that the sine, rity of this reason Is |
open to the suspicion which always |
sints an argument brought forward as
IN sfterthought to justify an act which |
,vaded all discussion at the time of It
but nevertheless it shall b.
airly considered, even at this late day |
L is now urged, with great vehemence,
~ the advocates of tue gold standard |
lone, that because here and there a
European monarchy, with the hardest
worked and poorest paid peasantry on
he face of the earth, has bsnished sill
er, we are called upon by our business
Citations to do the same. 1t is urged
hat we are to follow and not lead in
he affairs of the world. According {,
his argument, we are to trail in the
1otsteps of governments whose princi
les we denounce, and whose lsboring
eople are fleeing IN constant streams
'om their, shores 10 our own, in order
, escape oppression and starvation.
Sir, no one disputes the fact that all
vilized governments have certain COM I
Iunities OF interest, but to my mind
le American republic is less depend
1t for its strength and prosperity on
Ie conduct and policie; of other nations
AN any other government now in ex- .
tence. Nature in her most lavish !
God has cOnspired to make the Amer
N people, in fact as well as in name, <
/ independent people. Oar p ace on !
10 map of the globe is an isolated one )
ig hty oceans stretch out between us !;
I'd all the frs -class power of the I
orld. What foreign neighbors we p
we on our Immediate borders are I
eak and unimportAnt. We are not a
ly substantially alone as = political C
'wer on the North American CONT a
mt, and separated by long distances O
Dm all the great nations Of the earth, h
It we possess within ourselves, in un- h
ling abundance, every article and c
cry element of national wealth and II
Dry. Our vast domain will feed I'M a
united millions; mountains of iron o
d OF all other useful ores respond e. y
cry call of scientific progress, while u
3 intelligent industry of msn, II not
ralyzed by bad government, will for .
or supply all his wants, comforts and =
ruries. On such III Iatre our !. T atest :, II
Ource is self-rellsnce, and we have h
t littls need of examples or alliances n
nished by less fortunate nations. ID
Admitting, however, the argument, II
: the sake of meeting it, that our ii
sncial policy in regard 10 specie a
sis ought TO be in harmony with the II
It Of the world, let US examine into fC
D actual facts as they now exist in iC
3 var ols money systems Of every in
ople with whom we have the slig htesL fC
intercourse. Has silver IN u
, general trade and business of ma hi
ms fallen into such discredit that we OF
} compelled 10 cast it aside in order cl
keep pace with 3 widespread hnan u
i revolution Is il held in such dis az
nor as medium OF traffic through :.
the world that we can no longer -
hold it with credit 10 ourselges2 Ga -,
, contrary careful est mate shows y,
1t silver Is an enormous and over IA,
rel ming favorite. OF the entire trad N
Z and commercial population Of the h,
lole earth COG, ESQ, 900 more people be
w Al var alma as thar atandard of | -
Iues, and transact all their business dl
on II as a specie basis, than those who a
We gold alone for similar purpo es. CT
ON the same source of information OF
learn that IA 100000 more people e'
} silver alone than use gold and silver al
III as their metallic currency. In this e.
{ statement include the population VI
the United st .tss as using the dou ~
standard, for we shsll return TO Il al ol
ce, a. far Al least as specie basis can "a
rrae Al