Los Angeles daily herald., 1884-12-18

shoe sairt1s 81 ne lif4ef yslrif tlfnoi
ont isaia lto mines. diserettHn4 ~ own
u.etsl ia eHu peculiar piadaci -sndef pc
esis.s IL faleine No b the gold ssndard.
Whist wonder th4t lhii metal sH4iiid flctu-
ate Nhat wonder tAat q should 20 % 4 vefy
lsfge extent difrfedl'edf me asig Hotdu
g that Il aNcMd have any standing "a AL.
hat i should not run down 70 Tie price y
fkaf pfsees was uartea aaain. sud with
very greet force. BY Mr HeeHeialy hefnl-
loeb. IN hl1 report thg other fays There vas
na mas kiahnfss In The matter
December oh. after Ar Hetuilech't rc-
p0ft ftfumrpoudinf The cessation Of coming
siis 81 doilrrs, the price af silver buiiiun u
faHf5u was f9ts peree rff nBnee. end 10
Ifmt said 90 Dec en- The prospect that
America will put : stop a the coinage Of
silver by repeating thc hlatld bill has unset
tied unssnesa ~ India and caused Calcutta
exchange to decline u. 6}sd
Lasek Il ihe FapiditY n the movement
again. Here we place ia the charge 81 Our
government affair iteff who. instead OF
standing b our distinctive Interests, up
the sink. 70 y fpgak, ~ The people who
are Interested Ia ihls conspiracy Of making
The sinsie standard rule throughout The
verdi
And, hg the way, apropos Of the single
gold standard, notice that there Is crest
agitation IA Germany 10 day Tor the fesipra-
lion 81 The double standard. The hearty CO.
spefAtlan.-tha honest, active. liee Oopefa-
tiou=of the United dtatee with the double
standard men ia Germany and elsewhere,
ranld probably rciult in the restoration Of
tie Old commercial rule. and be 81 iucslcn
liable benefit 10 tho people Of THIS county,
and particularly ~ the people 81 this coast,
ihatthn whole thing e : conspiracy "a
mlts Of very easy dcmonsitailnn; The NJ
urea are somewhat remarkable. This yeerly
prptiieiiBn 81 silver IN the United stst0s II
nearly tn,oo0looo. The total yeAriy Rrodnc
tlon 81 The world a only tiif.gDo,o0O. But
there are even more significant facts Than
these. The silver cpined during the eight
years ending With 1889 exceedcdth prpdnC-
Ton b. tl7g snWo Jukl mark that they
base their Decentralization o. silver and
thuir conspiracy 90 deprgss II stu further,
upnn the enormous proineiiou- Yet, with
the C0msiock q thing Of the past with the
prodnr Infinitely less than the aDsprp-
ton Dy the rqinago iNans, silver i the bug.
be4r Of the single gold STANDARD people Of
today. The amount Of silver coined being 50
large, what win yon talnk when ] add
thai moderate estimate, made by c0inpe-
tent persons. Of The consumption q silver
f0r oraamcntation and the arts durilg that
Same period we're t2l0, 900 900 50 that II a
fair estimate 81 place the actual excess Of
coinage aud Absorption IN the arts. 81 silver
Vt about $3.50, 900 GOV more than It's produc-
lign during the period named.
II that gentlemen, dout show the down
right conspiracy from which silver has sut-
fered, despair Of being ableto demonstrate
anything
Any one, IN demanding the double stand.
ard, can forliiy himself ~ toe best financial
authorities In the world, and Il ig az Inter
estlnR fact, also, that he cun substantlate his
position by the testimony Of the most emil.
neat statesmen who have ever lived
IN the United States For Instance, Alex
ander Hamilton. "a bis report tllsl) on the
Mint says. TO Hnnul the use Of either Of
the metals As money II 10 abridge the guam.
lity Of the circulating medium. aud this e
liable 70 all the objections which arise nom
q comparison Of the benefits Of full With
the eFlls Of a scenty circulation
Thomas leiierson, the great rival 81 Ham.
iltan, whose theories were dismetrically OPP
posed to those Of the Federalist leader,wfote
10 that gentleman before thclf ipai quarrel:
= CONCUR with you that the unit must stand
on both metals
Authorities beyond number. English aud
American, are 70 the same purport. The
french authorities are uniform. Before
French monetary convention In 1859 testi
mnny was given By the late Il. Wnlow ali, by
Baron Rntachild, and hg NJ. Rouland, Gov
eFnaf 81 the Sank OF France. n Wol0wski
said: The sum total OF the precious metAls
and pnehali silver. u By stroke Of the
pen they suppress one OF these metals in the
monetary service, they double the demand
for the other metal, 70 the ruin OF all debt
ii Rouland, Governor Of the Bank Of
France, sa.d. owe have not to 10 with ideal
theories The two moneys have actually co
existed since the origin Of hnnan society.
They coexis. because the two together are
necessary, by thcir quantity, TO meet the
needs Of circulation. This necessity OF the
two metals, has L ceased TO EXIST j. II cs-
tablished that the quantity OF actual and
prospective gnld Is such thu we can now
reuounee the 1859 Of silver without disasteF2'
The idea thar have advanced AZ several
stages - my remarks was put very happily
by baron Rnthscbild. z hat is Of the effect
Of the adoption Of single standard Ia the
shrinkage u values IN truth. In the annlhi-
lation Of values. and in tho creation OF the
ability 81 people Of fixed incomes to prao-
ticaiiy bid IN nj auction the property Of the
masses Baron Rothsehiid, whose authority
rs q fnnncicr probably no one will feel 10
arhe Simultaneous employment OF the
two precious metals u Satisfactory aud gives
rise to no complaint Whether gold or ny
yer dominates for the time being, II Il
gether IN forming the monetary circulation
OF the world, and It is the general mass ni
the two metals combined' which serves ~
the measure OF the yalue Of things, The
suppression Of silver would amount 10
qefitahle destruction Of yaines without any
compensation.
msroRicAL pEBT REaisIscENcv.
fadverted to the great soiieitude " sena-
t0i sherman FOR the houdhplders Of the debt
arising from our late war. ka one has a
more thorough Appreciation ofsQpr nbllga-
lions 60 our debtors than ] but i ei6ffH that
Mr. Sherman, ia addition 70 showing a su.
perserYi0eable se al 20 oblIga his masters Of
Wall street, violated all American traditions.
We nave had ether debts than that contract
ed 90 pat down the war Of the Rebellion.
one ef thgse debts was remarkable Ia every
way. Probably every one here present re-
members the valuable aid given 20 this
country in its moment Of need by France in
tho Revolutionary war " l7l6. she gave vs.
4 7tsitg
IA very large debt TO that gallant people. We
kept on mourning debts 20 them ana to our
own people, aud finally IL became necessary
10 settle what regard as the most sacred
debt that ever existed on the face Of the
earth--the debt which enabled us TO become
ration. Il became time also TO settle that
peculiarly sacred portion Of Il which was
owing by the people Of the United States TO
the people 90 france When y cana Go pay
OF is dehtors. the accumulation Of cont
mental money had become so great thai Il
was fell that the burden would be simply
unbeafable Il iiquidated in full, and the
United states concluded TO adopt system
OF partial reputation. In other words II
passed an act paying this Indebtedness az
the rate OF one silver dollar to every forty
dollars OF the continental currency. some
what different from the sqneamlshness Of
John sherman, who didn't think the
bonahoiders were compensated even by
dollar for dollar in silver money, That 81.
cred continental debt was settled or the
basis Of one silver dollar to every forty dol
lars Of the continental money
And % show how still more careless wo
were Of on debt TO that people than we have
since become to those who live on the pro
ceeds Of our present national debt, on the
enactment Of this law by Congress represen-
tations were made at Washington hy The
French Ambassador which stated very truly
that the Gorgrrss OF the United States 10
dealing with IT. own people, had q right 10
adopt saeh settlement aS 4 pleased, and
2 "a
dealing With debt so pecv-
iiariy sacred as was that to the French
people they ought 70 adopt A dlher-
tial on account The Congress OF tbe Cnited
States which was supposed az that time TO
contain quite as many patriots as the Con
Eress in which John sherman figured de-
oitaed % adopt any different rule o. freat'
mcnt % Us creditors nj home ana Of lis
creditors sbroad, but put them both on the
same basis.
II NJ lohu sherman had been content,
and his masters would have allowed Il. Sill
yer, dollar fur dollar, could have been used
IN the payment OF this other debt, aud The
silver Interests would be infinitely stronger
aud more sel,sustatnlnR than they are. AS
Is 4. regret 90 say their condition is very
precaFious. and unless a sentiment Is de-
veioped 10 this country which viii be
heard IN Wall street, making itself huown
with resonant force, we VIII dud silver g3-
ing down bill q very rapid rate we viii
find our silver interests nfastrated. we will
fnd the fuse aud the pick thrown ~ one
side. The levels deserted and the industry
dead
rHk ENrENT 90 OUR LOCAL stIVEa INTERESTS
To show how Important that interest Is In
this section, have some facts thai desire
to cell yeuf attention 60, Mining IN South
orn Califernis can be prosecuted under very
favorable circumstances. Here we have
none 81 those sitting gases, none Of the hot
water, none Of the enormous depths. which
have made mining on the Cofnstuck Of late
years a moCkery. Everything facilitates
our mining operations OF themselves they
are beneficial; they iniure nothing
Your own prolific lands and nearly
all .aada exhaust heir fertility. You 70 on
Che mountain side and tunnel into the hills
or slns a shaft ia the brentwood and you
destroy no values. All that yhu bring dnt Is
clear gain to the nation Il may not 80 gain
70 thu Individual he takes his chances as 10
that but ii Is so much nuiliQn Ia the chan
ubls 81 com inerce.
Our Southern California mines are being
developed with the most pronounced vigOr
During the past three years, pErticu iafiy.
-gaeaHEnnlv valuable nfuUertfee have nnTU