The daily gazette., 1879-11-17
MONDAY. NOVEMBER II 1870.

TuE OEM0CRATlC lAhll ouShI W
congratulate itself on the condition Of
the country and the wisdom displayed
by its Legislators. In two weeks from
this writing Congress will NEE. in regu-
lar session, and no matter what has been
said as to the actions of that body, the
results that have followed have proved
the wisdom of the acts passed by the
Democratic statesmen. In proof OF this
we have only to look to the restored
confidence everywhere. We do not
wish to dilate upon the results of the
Democratic policy, we are willing to
await the meeting of Congress; and to
allow the statesmen who urged the great
measures which have brought about
this stability Of the times, to portray the
effect of the wise measures that have tend
ed to place the currency Of the country on
the selid basis it is found. We merely
desire to call attention to the report of
the Direcl or of the Mint. 1t will be
seen from that report that the precious
metals have flowed into the Golfers of
the government at very rapid rate, and
been coined in greater quantities than in
any previous year. The coinage of the
silver dollar and the order to pay the in
terest Of the government bonds in silver,
served to give notice to the gold brokers
that their time had come-Othelo's oc-
cupation was gone-that gold was no
longer the monopoly that the demone-
Tiers of silver had made il and that
with plenty of silver it could be dis
pensed with. Thus the government of
the people in this republic through a
Democratic Congress assumed rghtiully
the power to use either metal it pleased,
just as the governments Of the world had
done from time immemorable. And
hence II was when it was no longer
necessary to buy gold, it flowed into the
country in perfect stream. 1t comes
from France and England instead of
must serve to remind the reader Of the
impatient Frenchman who wanted his
money sever so bad" until he found out
that his creditor was able to do without
1t-then he was more unhappy than ever
Just so with the brokers and those who
held this gold in Europe-they were only
too glad to get rid of it as soon as they
found they could not sell IL owing t.
silver being restored to its norma
position in the financial transactions here
that it holds and has held in the worl,
since the days of Abraham.
There is another very significant mat
ter shown up by the report Of the Direc
tor of the Mints and assay offices, ant
that is that in the coiuage Of silver the
government in one year has made q
profit Of nearly 100000 of dollars
Had gold been coined on the sam
terms, as was urged by some of th
Democrats, the profits would doubles
have been quite as much from that sourc,
ut the gold miners and gold broker
opposed this, and so they will oppos
anything that puts money in the people
pockets, unless it first gives them
profit--and this is precisely why IL
bankers now insist that the greenbacl
shall be retired and bank notes subst
tuted. Wisdom would indicate that
is time to cease tinkering at the currenC
for while, at least. But we see that Il
brokers' journals in New York and els
where are determined to force the
measures upon the people and absorb
their is to be made from the credit d
rived from the faith of the people
their own ability to redeem their oy
pro misses.
In France it is said the bankers .
the government one per cent. for t
privilege of circulation; in the Unit
States the banks are now paid G |
cent. for one-half of the circula ion a
they aim to secure the balance of it a
be paid a similar profit.
Those who expect this session of &c
gress to end without discussion will
greatly disappointed. Discussion is j
what cannot be escaped, and it becon
the duty of the Democrats to see ii
the people are not longer misled by
subsidized press.