The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-10-10
Al'l,.l..t'lt
~
HON. JOHN A. LOGAN,
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ts~sts.nn - sss tasan.t tas.ssy~sae lesssmi ~
ifs fs@is1Nfs'sh u ~ United Sa4sss ass.2s -
@nh ~ W. t*'Fnsstss~a ~ Ftnssr II slsssss
~ Hn ntel~tss w tlN AHAsN. ~ Ms Hfls Il asta ~
Fss sets*Aa.sts sHrh msNears% o. ~,ll ,ss a,,l,
ssassst Tive tassif~ ~ shs rsssls fassh. ias ~ti
A1sa IHthi~h r.nffehss III Ssi.nsu4 salue III
n.y. rsis*mAAls II v-la ~ ~ raassats,st sra
- .aln~tsi - y, rat' shr changing wnns. IN
trade and rsssHsss48~
he i's1s''ns aHe.'sa, .sans oa ,he smsa,i
Hens s"'s'n'''.sl hs n, Parry. ~ Nuhixan. ~
ssfiAe ens At stssi 'he ~nsd ms,.iss4i sri
insert ih~ 'sslle~ing
lhH 'he toa,missee aa Finance il directed
" fslaft " tltH Senate, Al d. ~atlt = aav !.
ptArA1sts", ~nrss hss ,.trr. 4. wSll r~~tusa evan
na~n.s And xsve STABILITY And ~lasssris, Il, sh~
rf~ss~ ~ sbe tufv~h,ss-
After some introductory REMARKS. n, tav.n
sala. - 's'Es"
A. | rall attention 10 ! tcv f..,. n..y,,,,
nansn ~ hss DIR esi, ~ this posus. xould SrE
nsna'.,@ 7, t~,af la mind twu ,hinss Plrss.
snas siihuHgh 10 nut thtsl to dictate polirs
WHEN Witevs ~ W entirely opposed In ths
W. ~ ~ M'ssmat. I.'utn To srvrsr rAsmcut~,
~ ! seek 'udi-p.l ti.s netiDn that ii i ai~o'
. .nM's heree~srs - give reFman~nry .oonr cur.
I"h's y may b. true that, ~ . general rule,
!. Inc hest plan, ~ II facilitates inirvna stonai
uanr. A = nnitorn, syrtm ~ ~eights and
measures would but l Wivh Il, elan :. and
thinA ! can very clearly - that II i. Nv no
hrans = nt-eseils, AMI In not Al sll .imss
w.'. " 'he -.so',d place, ! dcstr. senators
Ard ~ .Ainr and mtd nm II cSrhangr. tune.
etnhr Nl'irl, Are ton uftsn conspu,ni 4. AMI
w'trh y" not of necceatis belong Il, ono and
N. same article
he*pinR this .llrsincsion In vicw. 1 th,nk il
VII W scci. that shr facts, ~ far - they ~.
Rlve negative Answur ID tho tuert,.n. als 4
vcturn :" ~pccic payment necss~sty for ,l,n
sMnality y o'ir ,hrrrteys- And might even
MAKE my language stronger, aud ray that tha
experience of enlightened nations sl,o~a thai.
=. rule, thss n mot practical. and that tho
a'u nap' " larry out this popular theory hHs
hrn aa. prolific source Of inAnc,sl DISASTERS
First, call attention i, shc facts which ~ 10
chow ii'Hs gold ani silver il mn absolutely noe
t.safy ~ = standard Ui value; that. although
ths l.ssess The qualities of tndr strucsitiltiy,
purity aud limit ~ quantity. which render
W. " 1901 n'e'iinn's ~ exchange, on thu other
hAhi thrfc are strong fcAaUNs aud evidence
rhow,n they cAtliin, remain prrmsust,ily the
standard Of value IN any country. And hold
u ~ ~clf ovtelent truth that Whenever thcy
are deprived VI This fnnction tlcy are remand
~ uack - once ~ tho pavilion ~ eimpir nscr
cnanu,sa. cvei, though thcy retain tlclr nse
ho pt,litirA' economist, 10 far m Am aware
coutrovcrss,
y \ asserted, with srrs, show u cau,lor.
tlat Tho world has adopted ~ ID standard unit
q value, . given portion of gold and stlver:
shat Nlri, ilss unit i tsr1 and invariAblc all
vasner readily NdJn~t themselves " II, and
uHIe anu eoltmerro hpN along their aucns
soims, uhahi,ela unoi~tFucsesl.
Uus ur very iefns Iixesl and tnvAriAblc. :
Which aro here NJ cOnntlcntly AAsun,e.l. are
tho vrTy oner, Mr.. President, which cs,nsaln
we 'iinscmls " tncns- anil points III dispute.
Vol, nnn silver arc natural products n the
controlled by tho necessities OF trade or thu
acton ~ legislative indie~; fact which tho
advocates ~ specie payments appear wholly 10
ignuse. And ! may ~ we'll Ii, this connection
state another fact vol At.c~lcd BY history. but
Which wl.,si, 'h.se gentlemen appear 70 have oyer-
looked. " y this That Tho commerce Og the
world, ~ Il hss gradually expanded. feeling
ITSELF cfAmrch BY illo limited amount or specie
currency, hAA ben forced 10 demand change
iil ttie nominal value of tho standard. each
change BEING accompanied by greater or lcss
anAnetnI comvuIst0n III, the ether hand, The
inmnA fr"s.l newly discovered mins has i,A1i
entirely tho opposite cneet
The SHILLING Of England. which was original.
a. eNnr ~ -
time o. Elixabcsh bnt ono sixty scconl part Of
tue Abe0luse poMnd. nominal incrsase Of mo
than IN .pcr cont A corresponding change
had also occurred In tho other European na
tions, yct this cxpodicnt failed Nj psescs VI 10
silver fnncsion = sie exclusive standard of
vAlte. and gold was admitted - 5 partner Id
usia use. What shsn bcoomes 81 tho assumed
idoA Of "Axcdness" AND "invArisblcncss " Vt
tllta unit VI value, 20 far ~ those facts show
Tho same thing u true In regard ~ gold, and
applies ~ WcIl 70 modern times - b tho mid
de AGA Again and again have they bsen III
lnsssd % meet the increas.ng demand. u trade
- - increase IN population and a.lvance IN
civiiisAiisa continued 70 expAnd ths volume u
what rishs have ". NJ. pvssldso,. 10 a..
sumo tho reeuit will b. dl6ersut Ia the future
from what Il has besn n tn past Will not
No pornlaston of the world iMcraaso In sptts n
continue 10 rxpAndS
Da. No noel no, appeal 70 The history Of she
middle ages Or NJ EufUpean nations 10 prove
tsal metallic standard Ut vAluc cannot moet
I'll thn wants 0f commerce and national Nrces
sttles. He'd w - nstton clnng riGi.lly 70 this
idea during the latc llclellion what would havs
l,een N,s CORRESPONDENCE Patriotism woald have
donc mach aud sn6crea mlich ~ mAtueain our
h,i,or anil uutly, Int II could scarcely have fur
nisl,ed the vAst amount NJ nlHtrYial necss@ary
!" carry on the var. We were foscssl I, aban.
don our standard 0f value snd fofm n0w Osse
~. n: \. we ss .s s'. ..., f,s ]; y. ;ss
0siil not 10.
llui, str, may hc mel with tho reply that this
II MI ~ applicable casc; II was a,l eatraordt-
nary Time. time u urgent ncceea1ty. Min,
or tho fact remains tlAt lilo arbitrary standard
accomplished that which tho national ssAndsrs!
IA u - callcdl cOuld MI do; and 3 standard
which can matntein Itself under such IN eAtsA
ordinary strain W. might reasonably AssMms
MDtld answer tn wants 0f trade when tht
strain Was r~muvesi.
legal tender l,o'cs having hccn issued by
our Government. they form our atanslarsl, aud
gulh and altvef. although nlOAtMma IT exchange
atusply ARTICLES ~ merchandise,
ltis thn.ess,Fe, evident ffnm thNse fAetA that
adopting . specie bAsi. dsMa nat insure ~
AgAlnat fluctuations In value, nnr du~s u imply
tHAs TIE umlt Of VolMu Viii remain nxad Attd ~
variable; IN tho contrary, the ovtdcnce
AdducsI shows IN that, Notwithstanding. she
struggle ~ nations IN the past IL cling 10 1
specie ts~is and metallic STANDARD. the ncc~s,
sltlU~ III cOmmercs and lAMsof trade have cpni,
pcIIed repeated changes and adjustments,
Thf theory VI ttic s0nlraetionisss u advocates
nj specie payment, wlien fOtinc N ios nMi shell
" liis that there n reasun Why =. ssnis ma,
MT rrDfe~rnt thr sAlsia III hMnlirl III wheat III
New furk ~ WILL a. ~ 1t provided III. Price
~ I'll ether Atti.lssOf trade aud commerce an
rssiaessl Il, tl,e same standard liuis tisy III
MT lesif this, yct " tlr4r lnghr y true, than,
Theoretically. Ihr issH nnAGy ~ l.se.ilHsts. ~
fls ".uwrir~' IL thc Afftran% may Ai,Hwrr All
tir purposes III ina,es hut practical fssts and
MT ihesfics. ats tlse things w~ arr all called Il
deal With III rtsvstsi
II 10 wcro new ra0r ~ l,etDks. Jnss 1amns'hesl
snin rAl~tenec. with M debts ~ contrasts, Win
10 history u prssetenla, Wteh 10 tssdlhonal
ideA III pttcos ~ valmss. lsDss1isy 10 might cal
what IN nov dime dollar.