National Republican., 1878-01-18

and hence has no respect for the general
good when II comes in the way of its grasp
ing proclivitics II is Improbable, for the
reason that its aims are such as to cripple
the business enterprises Of the people, con-
tract the volume of our coin circulation, and
thus oppress all others than those who are
within the circles of the money powor.
Any measure is Improbable which
tends to break down the business en-
ergies of the country and entail
poverty and suffering upon the working
classes, and that is what this narrow
minded, parsimonious, gold, and only gold
policy, which is being pressed with so much
bitterness and dishonesty Of purpose upon
the people will inevitably accomplish. 1t
is improbable for the reason that it bears
the national credit by placing resumption
under its rule rs an absolute impossibility,
and keeps the business interests of the peo-
pie on every hand under dark pail. Money
is scarce, and will become scareer If the peo-
pie are to be held within the grasp Of the
gold power. Business enterprise is stag
nant, but it is possible for it to become
more 20 as the gold pinchers close their grip
upon its throat. There is no profit in this
to the people at large, while it may bring
gain TO the pockets of the money power.
What the people now ask-yes, what
they even demand-at the hands of the Gov
ernment is that it shall recognize silver in
proper and well-defned quantities as cir
culating medium on par with gold. There
is no injustice in this, while the measure is
charged with the richest benefits to the
country. 1t is no new idea, for up TO 1874
the country had the double standard of gold
and silver with the highest sanction of pub
lie opinion. In 1854, in report made TO
the United States Senate, this language is
used: The mischief would be great indeed
if all the world were to adopt but one OF the
precious metals as a standard of value. To
adopt gold alone would diminish the specie
more than half
In 1s43 LEON FACCHET, in discussing the
| question of demoncriling silver in Great
Britain, in which he made thorough re-
searches in regard TO gold and silver COM
parativCly, says: "If all the nations of
Europe adopt the system Of Great Britain,
the price of gold would be raised beyond
measure, and we should see in Europe re-
suit lamcntable enough The result here
referred to as impending in England, has
fallen upon the business Of this country
with the most lamentable consequences
Another writer of note on matters OF finance
in discussing this question, indulges the
following emphatic language: IF we sup
press either gold or silver in the monetary
service, we double the demand for the other
metal, to the ruin ofall debtors And how
prophetic these words have become in
American history under the decentralization
of silver.
BARON ROTHsCHILrs declares that "the
suppression of silver will amount TO a YER
table destruction Of values without com
pensation," and far back in the history OF
this country ALEXANDER HAMILTON took
a sensible and wise view of this question
and declared that "to annul the use of either
of the metals as money is to abridge the
quantity of circulating medium, and il
liable 10 all the objections which arise
from a comparison OF the benefits of {
full, with the evils Of scanty circulation.
And THOMAS JEFFERSON, in writing tC
HAMILTON on this subject, says: Il agre'
with you that the unit must stand on boil
metals"
Now this country has fallen upon an era
not of reason, candor, or argument, but O.
absolute and relentless power, in which the
/ gold mongers resort to denunciation, con
tumely Misrepresentation, bribery, ant
E menace, to beleaguer, frighten, and cJol'
= the Lawmakers into implicit obedience Il
their behests. This is but the skirmish-lin'
of long and bitter contest between thu
, money power and the people in which on
| or the other party must ultimately go to th'
| wall in the midst Of dire disaster, unles
Congress shall promptly provide relief il
the only way that now seems available, b.
giving to the country silver circulating
medium that will take its place equally
with gold.