The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-12-22

COHlIHeEclHI uNtlUIlA III tile eHTln NlluIl
have authorized the unlimited coinage
OF both gold and silver At common fixed
ratio. He might ~ we'll have suggested
that the suspension he until the millen.
ium or the day Of judgment,
SO fur ~ the present generation
il concerned. And the Inst two
paragraphs Of the extract above
quoted prove that the Directors inten.
ton il m absolute and permanent sus-
pension Of silver coinage, and the legal
rs well rs practical defeat Of bimetalism.
..Shonld the $3.50. DOC, 900 Of silver coin
now fnll legal tender in Europe be de-
monetized. the United States could not
maintain the double Standard" il the
opinion OF Mr.. Burchard. What are the
prospects Of such action on the part Of
European Governments Mr.. Bnrclinrd
says: with that danger mcnacing IFS
We cannot without serious embnrrass-
ment continue such coinage"
Expressed III the fewest words, md
stripped Of all Disguise, the Director Of
the Mint has said :
/. Let us ttop the coinage OF silver
until nil the nations of the earth author
lie its unlimited coinage.
2 II Europe demonetizes its silver
legal tenders. We cannot maintain ours.
3. The probability Of Europe's taking
that step is go menacing that We should
begin to prepare for it by shutting down
the silver mills.
The idea that American industry is
obliged to ADOPT the financial systems OF
Europe in order to prosper is rs absurd
and unpatriotic rs would be the idea that
We must adopt the European forms Of
government III order to be free. We
lave no more use for Europo's value.
standard than we have for her religious
or political standard; no more use for
her gold AMI SILVER ratio than We have
tor her ratio between prince and pauper
no more Use for her money than we have
for her thrones and crowns.
Our foreign exchanges are not OF
money, nor are our balances settled and
paid with money. We exchange the
useful products Of labor, and balances
are paid Iii gold and silver rs commodi-
ties at all agreed valuation per weight.
II, as the metalites say, "God and
not law is the creator of money what
right has the law to demonetize what
God has monetized? What right has
man to diminish by arbitrary enactment
the money supply which God has given
us? Ii metal alone is real money, aud pm
per simplya substitute, why contract the
supply Of the real and expand the supply
o. the sham or unreal?
The American idea, which will never
be abandoned or yielded to the caprice
| and interest Of home and foreign Shy
locks, is, that SO long MS gold and silver
are used rs money, coinage shall hc nm
limited by law, and when one il demon
ctized the other shall be also.
Every coin obligation OF the Govern
ment is PAYABLE in silver rs well MS gold,
and, until there is an ample supply Of
the two metals to perform all the none
tary transactions Of the country, or urtil
both are abandoned rs money md legal
tender paper substituted, there sh nli
be no legal limit to the coinage Of either.
This il movement to prevent the
establishment Of the silver standard in
America, result which would work
hardship to none except fundhollers who
have been vastly benefited in the past
by the establishment OF the gold stand
ard, while the silver standard would add
| untold millions to the wealth Of the peo.
ple.-Nicago Eeorcss.
The Shylocks OF Manhattan island.
| "The country will be greatly reassurel
by the wise conservatism Of these i'm.
portant documents Presidents message
and Folger's report. The soumiest aud
most progressive thought Of the country,
it is safe to say, will regard the financial
position Of the administration with salts.
faction. "-Ne,r York IriLnue.
The "country" i'll the eyes Of our es
teemed contemporary consists Of Man
haitian island, and the people therein ol
"sounl and progressive thought whe
regard the financial position of the ad,
mlnistration with satisfaction, consis,
of the money lending and hond-holdine
class, whose selfish interests would, il
their opinion, he subserved by policy
of cut-throat contraction, whereby the
value OF money, Ionds and mortgages
would be augmented. and the value 81
all other property would he lepre
ciated. Tie Arthur Folger programme
is: ca to abolish silver c, r,ifiea,es
thereby contracting the culrenc,
500, 100000; (2) stop the coinage o.
silver money; ~ demonetlle Slot, OUO.
900 of greenbacks, leaving 10 debt pay
ing money except gold, which would bs
wholly inadequate to meet the needs O
the country i'll case of panic, which i
would be to the interests of the bond
mortgage and money-loaning sharks o
Manhattan island to precipitate. Thes.
sharks would have corner on the limit
ed stock Of gold, aud debtors would hay,
to submit to any sacrifice Of property Il
get it to discharge their obligations
The shylocks Of Manhattan island. which
, the New York paper calls the "eonn
try" will Of conrse view with intcns,
, satisfaction and delight this Arthur
Folger financial position" But til,
! people Of three dozen States outside o
the New York papers little horizon vii
J regard the scheme As selfish, wicket
and beyond the power Of those gentle
) men to put in force. --fIisuuo Tribune