Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-02-20
TERMs-s2 per annuI n Advance.
NEW SERIES--VOL. 10, NO. =.

Il rejects its aid whe profits by this
? Who suffers from IL? Can any reaso
. be given why we shall commit this q,
, Of suicide ? A debtor Nation, with on
y option plainly written in the law, wit
}. morality and justice both upon the sid
C OF the people, silver producing coui
try, seeking a return to a specie basil
i we yet deliberately aid to strike out {
! existence one.balf of the worlds meal
n ure of value, 10 depreciate to that ca
] tent all Of the property Of the country
a and to appreciate BY likemeasure ou
Q actual Indebtedness.
The Director Of the Mint In his re
. port IN 1873 says
The adoption Of gold standard and demon,
tiration OF silver will bc followed BY an ncreas
ia the value Of gold. or what 10 the same thing,
decrease in The price Of articles measured BY It.
No words Of mine can give will
equal force the results of this p1lic,
and the reverse Of IL "a given BY Nj
Hunter 10 bic report In 1862
! read from the report Of Mr.. Hunter
This report was quoted blythe Senator
from Vermont Mr.. Edmundsl the othcI
day. Mr., Hunter was then Chairman
Of the Committee on Finance Of thi,
body. He says
But the mischief would be great indeed u al
the world were 10 adop, but one VI the pfecioul
metals a. the standard Of value To adopt gold
alone would diminish the specie currency NOR,
than one-half; and the reduction the other way
should silver be taken a. the only standard, ,woula
be large enough 70 prove highly disastroui
10 the human fsee. Indeed a reiertnce Il
the history " the precious metals and
the general courss Of human production can
scarcely fail TO convince us that there has been
constant tendency to appreciate their value a,
compared with the resdue VI the property Of the
world and that every extraordinary increase oi
the supply Of the precious metals. Of which va
have any account, has exercised highly beneh.
cial eject upon human affairs. When contract,
are made by a standard which is gradually con.
trae,ug, the advantages on the side Of capital
as against labor and productive energy 10 crsinped
by receiving lea. ,hsr fair share of ike profit Of
It's enterprise. Before the invention of substi.
tutes for payments 10 coiu aud before tho in
creased supply Of specie from the discovery Of
America humsn history is full of the sirifes bs
tween debtor and creditor and human legisaiion
is rife with sxperimsnts TO limit the tncroaehip z
and engrossirg power Of capital,
So much 10 the value Of curreucy Affected by the
facility With which Il may be counted aud its
convenienee Of transportation, that thorc will
always be didicul'y IN supplying the plscs Of
small notes with anything but silver, or that Of
large notes With anything bat gold. We require,
then, for this reaaon, the double standard Of gold
aud sissfi but above all do we require both 10
eounteract the tendency of the specie standard 70
contract under the vast Increase " the value Of
the property u the world. Ard what harm can
atisu from any probable increase of the preoioss
metals, u both are allowed 70 sreIi the volume Of
currency % the contrary, 4 more beneficial
event for the trnde, the industry, the moral. and
political condition uf the world could scarcely be
imagined. 0fsll the great effects produced upon
human society By the discovery Of america, there
we're probably none 20 marked as tnoss brnught
about by the great influx Of The precious meinls
from the New World 10 the 0Id, Earupean ln-
dusiry had been declining nnder .he Decreasing
stock ot precious metals spd al stpreeiatng
aALda,a sf ,ysiss; huuan. iqgesp'ts 'grswsuii
under the hspsrslysingipausnc< ~ declining prodts,
aud eapissf absorbed nearly 81 tbn' should have
been divided bs,wecn IL and labor But an in
crease Of the precious metals Ia ssch quantities
"a 10 check this tendency. operated As a new mo-
tive power to the machinery Of con merco Pro.
dueiion was stimulsted BY finding the alsantaess
Of change 10 the STANDARD upon s.sside.
Instead Of being reprsssej BY ,having to pay
more than II had stipulated for the use OF oapi
tai, IL was stimulated BY paying less. Capital,
too, was benefited, for new demands were erea.
Ted for IL hy the nev uses rLick '~ucrsl move
ment 10 indurtrial pursaiis had aevsloped 80
that II II Lost Iitte by change In the standard
II gainrd much mtre In the greater demand for
Its usc. which added to Its capacities f,f repro
duction and 10 It's real value. PROPERTY which
had been acquired by the strong arm, and acoa-
muiafed 10 violation Of the great laws Of equity
aud trade, by an almost insensibls transition was
distributed more equally In society. Mature, un.
der the operation Of this It's great bankrupt law,
as II by an invisible hand loosened he bonds OF
the debtor, which heretofore time had continually
tightened. and disributei 10 labor for purposes
Of reproductions and upon equitable terms capital
which distrust and apathy bad either locked up
or administered ~ith TOO spsring hand. New
influences arose in society, and a new Impulse
was giyea to its movements. In the present stage
Of the world We may, perhaps, no more expect
any event TO produce such rapid transform atoms
10 society. But we might reasonably lsok tor
something like the same copseq qucacss from sim
liar event Any system, either Of violencs, or
law, ,~hich disiributes proper yimproperly andun-
Justly, witch gives q ialsc direction 10 the great
stream Of productive industry, will Ia the end pro
duce thrcs and oonvulsions In the bosom Of 20
ciety. Unless human skill, such as Is rarely II
ever known, intervsnes TO give true direction
20 Affairs, or unless nature intsrieres through the
silent operation Of her lass 20 remove inequali.
ties and repair injustice. violence IL almost sure
70 be used to make change, II II cannot apply a
remedy.
Such is the language, full of lessons
touching the history Of the metal, OF
the chairman of the Finance Commit
tee of this body in 1853, defining the
double standard, which in many quar-.
ters has been alleged to have been de-
graded then.
In view OF recent events in my own
State and of the smouldering fires of
strife now being secretly famed
through organized effort, the language
Of the conclusion OF this admirable pic.
ture seems almost prophetic, Al is
not well. j wish | could say Il were.
We would be- worse than fools to shut
our eyes TO tho ills that confront US. Are
my brethren on this side of the Cham
ber determined TO drive us, as ar or.
ganiEation into the vortex cf unlimited
paper inhation2 We do not want this
in Pennsylvania, and we pray to be re.
lieved from the inexorablc fate 10 which
your policy condemns us. Why is Il
that we cannot meet upon the common
ground Of constitutional money--of
gold and silverp Are those who live
east of the susouebanna 40 wedded 10
the policy of Envland in n single stand
ard hat no unitv of action Il yossibls :,
"a there any safer ground Car ,ho hes,
interests oftbe whole people far debt.
or and creditor for bondbolder and
,axpayer than n restoration of 'onr an
cIent policy of constitutional money
of cold and silvery Must we be driv.
!, e. s,r;la ,La lrr;,,o.. 60. 49,.