Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1879-07-24
The Currency Question.
The St. Paul Globe ofTuesday last, re-
ferring to Mr.. Milton Sayler's views of
the Ohio camDaipn. Saws:

ferring to Mr.. Milton Sayler's views of
the Ohio campaign, says:
= "The currency question, however, he does
not regard as of the first Importance. The
main question is that of the purity of the
ballot box and the use of troops, supervisors
and marsbals at the polls."
The Globe is mistaken. Mr.. Sayler
distinctly declared his belief that athe
leading and controlling issuesin the COM
ing canvass will be the questions of
finance and currency" and he gave his
reasons for believing so. This may be
seen by an extract from the interview,
printed in this column. It seems to
us that the Globe is too much inclined to
concede that the management of the ma
tional finances by the Republican party
has been good, and that their record on
the silver question does not show that the
leaders are united in a conspiracy as vil>
lainous as highway robbery. The bond>
holding and money lending interest of
the United States, like all other interests
where immense sums of money are Inv
volved, requires legislation particularly
favorable to its class. Il is impossible
for powerful class interest to exist in
any country without endangering the
purity of the political parties. That is,
powerful class interests require class leg.
islation, and offer to the party that will
favor them all the influence of wealth,
and of an outside show Of responsibility
and dignity. This insures the political
party that is willing to bow to the god of
mammon an ample campaign fund in
ready cash, and gives it full control of all
the corrupt elements in the so~called
higher circles Of political and official life.
If, as some Democrats seem willing to
concede, the Republican party has kept
itself pure from dishonorable alliances
with the most powerful class interest IN
this or any other civilized country, and
has rejected the profered means Of per-
petuating its power rather than surrender
the rights of the people, it is one Of the
purest, noblest and most trustworthy po~
litical parties that have existed since the
dawn of civilization. There IS no use of
talking about supplanting such q polit1-
cal party as that by better one, for that
would be impossible. We arenot willing
to concede any such purity to the Repub>
lican leaders. We believe they have d.
liberately, knowingly and wickedly
adopted measures to rob the public for
the benefit Of a class, and we have proved
such to be the case repeatedly in these
columns. The Pioneer Press of Tuesday
last, during momentary return Of sani-
ty, makes the following admission.
"The danger which thoughtful and conserv-
ative people see in the situation is of course
the existence of such vast mass of paper
currency, poised upon such comparatively
insignificant basis of coin; and the above
figures show that this danger is increasing.
Either the situation is a somewhat alarming
one, or the danger which is supposed to lie in
an immense paper currency is not a real one"
But the Pioneer Press, and the whole
brood Of inanciers of that school, stoutly
oppose the unlimited coinage of silver,
which every one must know would great
ly aid in giving broad and sufficient
basis for the paper currency. This is be-
cause the bond and mortgage holders
want one half of the coin ofthe world de-
monetized, in order to increase the value
of their bonds and mortgages, and place
that much additional burden on the
shoulders of the people who will have to
pay them. The Pioneer Press knows
that this war against silver commenced
whom silver bullion was worth about the
same as the coined metal, and that its
present depressed price is entirely due to
legislative enactments in this country and
Europe, and not to any excess of produce
tion. Money lenders arc always anxious
to increase the value and purchasing
power of money, and they caused the de-
monetization of gold in Holland in l847
for the same reason that they are now
seeking to demonetize silver.