Los Angeles daily herald., 1884-12-19

themselves MeHftt
il is not many wears since the seat
Of Fmpitc IN the United States was
east al the Alieeheniea. It next
moved 10 the valley Of the Ohio II
il now somewhere in the basin Of tho
Mississippi valley. While The States
Of the East and NORTH have lost their
political power they have held on 70
The purse strings Of tho nation, and
they have more than made amends
for their ceaaine 10 be Che rulers by
becoming The usnrers ni this country.
The great bngbears oi the active inn
agiuaton Of Thomas Jefferson were
Capitalization Of The national govern
ment and the creation Of monoera-
Giles u be eonli see to-day the
spectacle Of the aggregated wealth Of
this country entrenched In New York
and other Eastern cities, and planning
foraye upon the pockets OF the masses,
his hair would bristle with indigna-
ton and we should be treated 20 one
u those luminous manifestoes which
would brace up the Democratic party
to its traditional work Of sternly curb
ing The aggressions Of capital SO
impressed was the founder Of the
Democratic party with the idea that
Che republican simplicity which he
loved would be lost forever If the
reign Of ostcntatious wealth began in
this country that he even ez pressed o
regret that the horse had been broken
TO the uses Of man, that being the
first step in the growth Of lnxurious
hnbiis.
TODAY we have as full . represen-
tation OF tic mon1cratio classes, 30
dreaded BY jefferson, in tho leading
cities Of the East, as can be iound in
the luxurious capitals Of the old
world. No one would object 10 this
were q moi Tor the fact that, not con
tent with iiaunting their un-republi-
can sploudors IN the face Of the people
OF the United States, they seek TO
still further aggrandize themselves by
moldins legislation with the view Of
increasing the purchasing power Of
their fixed incomes.
II is generally conceded II the East
that tho currency Of the national
banks, which has remained until
lately in the neighborhood Of $780,
no0, 900, will AL be retired during the
next Eve years BY the taking up Of
the bonds upon which tits predieated
The longtime bonds are alta premium
that makes Il doubtful whether they
win be purchased by the banks as
basis for their continued existence,
During The past year cireulaiion 10 the
amount OF about So, 900 900 has been
retired, redocing the volume Of thu
currency BY Chat amount.
Il Is in face Of such a prospect as
this that an organized moyoment has
been started from Wall street 70 stop
Che coinage Of the standard silver
dollar ny the Bland BIN the
maximum monthly coinage Of sill.
yer bullion is $l,0oo000, and
the minimum eoinage 81 100000
n month. There can be no question
that tho mean between these two
agures inst about represents the rate
Of rehfoment Of the national hank
notes during the past year There
has been, therefore, no oSpRnion Of
the currency and no earthly reason
for the hullabaloo which has been
raised against The continued coinngo
of aie standard dollar. A great ado
has been made about the lnling NJ
OF silver in the treasury vaults 1T
Washington, but lhe tact hhs been
carefully ohseured that against two
Thirds Of this coin silver certificates
are eNtant which are as freely used as
currency BY the people as any other
form Of money. The pueHlity Of
this objection is shown by the period
seal announcement that The Treasury
officials are greatly distressed by their
inability to find storage room tlr The
precious metal Half Of tie $3.50 900 !
paid out by Arthur's administration
in lawyers fees to do the work which
it WAS Attorney General Brewsters
duty % do himself would hWld a
strong box large enough to hold all !
the silver which the United States
viii produce IN the next ten years
A mere fraction Of the men who are
employed in the personal service
OF department officials, under the
gaise Of messengers, etc, would
afford an ample force 70 guard
even poorly constructed vault. The
poverty of The arguments Of the op-
ponents oi silver Is shown bg the
iiimainess u The attacks detected
against that metal
The West and South, which need
an abundance OF CURRENCY Go develop
their unlimited p3ssim ties. must
combine and create new atmosphere
at Washington. 1t must be under
stood that the road % official and po-
l.tieal preferment lies IN showing
friendship instead OF hostility to sill
yer. With a change Of mgu aud sem