Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-08-21

nection.
All the action of Congress concerning the
has from the beginning been d.
rected to the equalization of values. There
was no other object in any of the legisla-
ton had, and these who assert the contrary
are themselves the only class who have
ever been engaged in the dishonest and
unpatriotic work of trying to force depre-
ciated coins into circulation, for the ex-
press purpose of swindling the public cred
itors. The Act of 1873 produced no adj
verse feeling at the time. There was IN
fact nothing in it to cause such feeling
1t merely recognized and acted upon exist
ing conditions. But the secret of the
whole movement for the reconciliation of
silver lies in the fact that presently
that metal underwent violent fiuctu-
alton, and the value of the silver
dollar sank to ten per cent. below It's
nominal value. Observe that fact. 1t was
not until the possibility of cheating with
the silver dollar became apparent, that any
demand for it arose. But when it was re-
allied that with such coin men could dis
charge their debts at ninety per cent. OF
their actual amount, there was growing
demand for the reconciliation of the dol
lars. The movement was so conspicuously
Il, fhof tho npOnlp
who urged it were fain to seek some cover
for their bad principles by pretending that
demonstration had been corruptly or
covertly procured. As we have shown,
this is a monstrous pretense, but when men
set out to cheat, it is quite to be expected
that they will also lie. As Mr.. Poor says
Not the slightest need has ever been felt
q for the silver dollar, nor would its
restoration ever have suggested IT.
self to single person in the country
chad the relative value of the two metals
- been maintained. The suggestion of the
sgreat wrong done in demonetizng it
"only came when it was seen that its
"value had fallen some ten per cent. 1t
twas then believed that by remonetizing
sit debts of all kinds could be scaled
clown in equal ratio. Hence the hypo-
g critical howl of indignation, and the
" charge that the Act of 1873 was the
"work of conspiracy of the rich against
" the poor Never was there more gra-
tuitous and false assumption" The
truth is that the decentralization of silver
by the United States in 1853 and 1873 was
an act of wisdom, fully in harmony with
the most enlightened policy of the fore
most commercial nations, and justified and
approved by every consideration of com
mon sense, convenience, and regard for the
public interest. On the other hand the
reconciliation of silver, forced upon the
country in 1873 by the clamor of the
Greenbackers and silver men, is neither
more nor less than the expression of the
aggregated dishonesty OF the nation, seek
ing form in manner which it is hoped
may afford free scope Tor the robbery OF
both public and private creditors. The
Act of 1878 was advocated by those who
opposed resumption, who opposed the
honest payment of the public debt, who
have on all occasions taken the swindlers'
side of every financial proposition, and
VINO are at this very moment endeavoring
to persuade thu people to plunge into the
Slough of Despond of irredeemable paper
money. The history of the silver question
is valuable, as showing what doctrines and
schools honest and patriotic men should
avoid, and also as demonstrating how futile
are the most pregnant events of history for
those who have not the ability to apply
such examples.