Los Angeles daily herald., 1885-12-25


London aud Berlin are the true
sources of the rampant mono-metalism
which has taken such hold on most Of
the press and the publicists Of the East-
ern States. A more disastrous policy to
the public interest it would be hard to
imagine. The dual standard is in con
formity with nature. the single one an
abnormal departure from it. Duality is
a recognized principle Of nature. We
have man aud woman, two eyes, two
hands and two legs, instead Of one;
light and darkness, day and night, mat
ter and spirit, right and wrong. The
series might be stretched out to infinity
either in duality in accord or in opposi.
ton.
The two metals have always been used
as money, always will be, and any at.
tempt at departure from the order is
abnormal and violation Of natures
laws. One metal is but complement to
the other. The attempt to have an ex-
clusively gold currency is only one TO
increase the value of money AID to
nation. Money is measure OF every.
thing and the scarcer it is the more val
liable it becomes. The less valuable be-
comes real estate, houses, the produce OF
the land, the products of industry. Only
the possessors Of the coveted gold or the
recipients Of fixed incomes benefit. But
they do so that the millions may suffer,
that bankruptcies may be multiplied,
that the gaunt specters of want and des-
titution, and the gaunt wolf of hunger
may be at the doors OF the thousands,
that industries may be paralyzed and en-.
terprises fail.
There is no doubt but that the low
prices prevailing all over the world are
directly due to the gold craze.
England holds out for the gold stand |
ard while India. one of her dependen- |
cies, has as the basis OF her commerce, |
silver rupees. The steady depreciation |
Of these puts down the price Of every
thing India has to sell and to that extent |
impoverishes the people of India. 1t |
also affects England herself, as all the |
goods she sells to India being paid for in
their rupees, the English manufacturer
receives bis returns in a debased cur |
rency, which tends to take away his |
profits and to make his enterprises end |
in bankruptcy. 1t is said that the depre-
citation in India acts as a sort Of pro-
tective duty to India in oottons, and
that II is now equal to heavy ad
yaiorem duty. Hence cotton mills are
springing up all over India, and Eng
lands trade with her greatest depend
ENJOY in one Of her principal manufactur-
ing products is gradually being de-
stroyed.
We remember the time, and that not
many years ago, when half dollars were
at premium in San Francisco. The
gradual decline in silver has been di-
rectly due to the demonetizing schemes
Of the tools of the capitalists in Con-
gress. Some talk OF initiation, but we
need little initiation to allow living
prices TO be paid for merchandise and
produce, and after that there is lots to
do for silver without initiating the cur
rency any. There are the greenbacks Of
small denominations up to s. to be re-
placed by silver dollars, and then there
is the national bank circulation that can
also be replaced by them. That would
absorb all the silver that we can produce
for dozen years TO come, leaving moth
ing for manufactures or the arts. But,
irrespective of this substitution, free
coinage is desirable in the interest OF
all-commercial and indnstrial-in that
alike of the trader and the day laborer.
IS. r. Journal of Commerce