Daily Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1876-1884, 1878-02-05
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Financial Leadlng-S trlngs.
We suppose we shall be permit
ted to indulge in some provincial
amusement at the condemned cool
ness with which the New York
papers, and the presses OF the other
moneyed centres, discuss the silver
bill, the Matthews resolution and
all other propositions which have
any bearing on the national finan-
Cos. They assume, with an icy
frIgidity which smacks of the
frozen Adelia-land and the North
Pole, that all their outgivings are
Gospel verities. With a prudence
for which we commend them, they
avoid argument and deal exclus-
lively in er cathedra utterances.
Our memory does not to-day sup
ply us with o single solid, convinc-
Ing argument made use of by the
New York press at any stage OF
this controversy. Every one OF
their articles reads as though they
had argued the question fully
week or so before, and that there
was therefore no need of fresh ar
guments. On hunting over their
files for the last year one would
find no such thorough discussion
OF the matter as they assume to
have INDUCED in. Instead, one
would encounter simply the same
old, bald assertions. The reason
for the absence of argument is
easily understood. They dare not
state the real motive which gov
ems them, which is q slavish sub
servience to the interests of the
bondholders at home and abroad.
The New York newspapers are re-
ally ,abetting the New York capi-
talists in their abject Difference to
the English moneyed power, just
as the New York exquisite is
learning to ape the CAV, He-haw'
suob who drives stage coaches in
England, and who is so devoid of
intellect that he has settled down
to a rivalry with the commonalty
in their coarsest occupations.
The only approach to an argu-
ment against the double standard
ever seen by us is that, by its adop-
ton, we shall throw ourselves out
of gear with the rest of the mon
eyed world. This is an impudent
assumption. Because, after a
struggle of nearly one hundred
years, England has succeeded in
getting hold of more gold than
any other country, she desires to
increase its purchasing power
by giving it special value. The
bondholders of New York and
Boston also wish to be paid in gold
and they therefore desire to in
crease the purchasing or selling
value of the coin they would re-
ceive for their coupons. AS mat
ter OF fact, France is to day a
double standard county, and fully
five-sixths of the populations of the
world are on the same basis.
Why should the United
States defer to the lead
ership of Great Britain
in money matters? The fact is that
il we had in this country to-day a II
Intelligent and energetic spirit CT
Jpropagandism We are ourselves the
natural leaders of mankind.
Through laundering and imbe-
cile control of the national admin
istration-a control more inter-
ested in low jobbing and robbery
for the account of pot-house poll
ticians than in anything else-we
have thrown our commerce and
ship building to the winds. We
trust to see the United States, in
the next decade, mainly interested
in throwing off every sign of vas
salage to Europe even if, in the
struggle, it were necessary to
wound the sensibilities of the snobs
of New York and Boston. AS be-
ginning, the country needs the in-
Interchangeable gold and silver dollar
of the fathers as the medium for
paying the public debt-without
the addition of grain of silver to
the silver dollar. The debt was
payable in such double standard
when it was created, and the bond
holders should receive no more con-
sideration than the letter Of the
bond. III the foreign bondholdsr,
in his disgust at not being able to
fleece us, wants to get rid of his
United States bonds, let us, in