The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1878-02-13
| |s.r to have and maintain specie payments

it must b Enlarged.
Anothd objection to the bill was the
known a11ment against bi-metallism. Most
gloomy pictures have been drawn of tha
ruin that would befal our country if we adopt
-bi-metallism He argued that it was by no
means certain that the standard value was
less variable in . mopometallic than it was
in bi-metalis eounhy.f An absolutely IN
varying standard of value was an impossi-
.hllty. Had there- eyer been . more prosper
GUS country than the United States from 1889
to 1861 sDidapy Aatipn ever exceed the
progress te mede ii population, wealth, edu-
cation, rehnementand the general well-being
of the people in these seventy-two years?
And yet during all that period we had BIZ
;.metallismy fosgwe gaveMo preference to gold
over silver or 70 silver on goM These metals
ductuated then as thu ha1e done since
and .probaby eyer will do, but no
American statesman OF that period thought
of demonetizing either. And now let Us
turn to Europe for moment-what do we
hear? The wailings of thousands of labor
ing men, women, and children, thrown out
Of employment Phe .cuesS-of anguish of
thousands of other men who but a year ago
were rich, but are now bankrupts. In
word, the same notes of sorrow that SO affect
our ears in our own dtstresed land. But
from what oountri@- do theynainly come
From two GOLD an4 nun metSllic, England
and gold non-metalic, aGermany-while BIZ
metallic France, the land of silver as we'll az
gold, enjoys prosperity hardly exceeded BY
that of any people on earth
1t had been argued that our foreign COM
merce would be destroyed, would be dis
jointed, by the lending bill; Had We not
carried on business dnringthe past sixteen
years with an incontroverfibie paper cur-
rency, and Was not the balance of trade in
our favor?
Again, it has been arRued that the national
credit would be DESTROY I'd. How destroyed3
Blythe United States peyineour bonds "a
we promised to pay them. The United
States needs no such prop as single gold
standard to support its credit. The re-
sources of this country are too well known
for her credit to be injured. He loneed to
see Il our indebtednessF held at home
and not abroad, SO there would be
no annual drain from America to enrich
Europe. Atelegram this morning informed
us that SIX hundred thousand dollars worth
OF our bonds were on the way home from
England, they would be getting back there
soon. Whether! the bill passed or not, the
interest upon our bonds was greater than
$500 "f'SHA ouy ooiO 11uIotcdu STOCKS. Ii our
bonds should be sent home, they must find
purchasers!in the United States; and SUPPOSE
they should find such purchasers, would not
every one in the land be glad that our bonds
were held at home? The English debt YVES
held by Englishmen, the French debt by
Frenchmen, and he hoped the day would
come when the American debt would be held
by Americans.
Our currency would continue.to be small
paper money The problem for Congress to
solve was upon what basis it should rest,
We could not maintain paper currency. con-
vertible at all times into coin, unless we en-
Ployed silver as Web as gold for its base.
Unless silver should be made a full legal
tender the idea of specie payment in the
United States will soon be abandoned.
Every opponent to All. irpedeemable paper
currency and every friend Of specie currency
should ST insist upon ithesful femonetization
If this bill should become a law its ten
dency would be to put a stop to the demon
citation of silver in other countries. Should
We postpone the femOneti3ahofI of silver un-
til a compact with other nations be made it
would never be remonetized. He hoped our
country would be ranged blythe side of the
bi-metallic States, Let the commercial
world know we do not intend to abandon
the use of silver .sxyts5oLI
J Silver was an American product. MANY
millions of dollars and the labor of thousands
OF men we're employed in its production in
this country, and to destroy or cripple this
industry would be cruel and unjust