Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1885-04-04
LILLE SIIIER ISNNE.

misleading and generally become
falacious when men lose sight of the
history and results Of financial systems
Figures do not lie it is the manipu-
lators behind them who make them un'
reliable The advocates Of honest
money in the United States want no
thing better than to meet the selistylcd
champions Of "cheap money" what
ever that may mean, squarely upon the
issue. They have no fears as to the
result, for they have met these pro
ducers of poverty beforetime and
have come off victors.
The hired supporters OF debased
silver coinage in Hawaii, who hope to
draw consolation for bankrupt govern
ment from the statistics and arguments
of the interested advocates Of silver in
the United States, would do well to
remember what the silver men OF the
West have forgotten, viz !: that the gold
men fought the greenback fanatcism
headed by Senator Sherman, in 1868,
and won the day that they held their
ground and sustained the countrys
credit in 1874 when Morton, OF In
diana, championcd the imitation bill
and led the bad currency faction and
that the friends Of honest money are
ready and aggressive in their opposition
to the threatened encroachments upon
the gold in the federal treasury, which
is to be used for paying the Obligations
of the United States and for the re-
demption of greenbacks. The gold
people OF the United States do not in
tend to allow such encroachments to
be made tina, gold will be driven from
circulation by debased currency,
values be overthrown, two standards
be established and financial and
commercial crisis be made possible.
Heretofore evil effects have not fol
lowed the ianatiCsm of the soft money
and silver men because the people of the
United States have always succeeded
in squelching their banetu systems, as
they will ultimately overthrow the pro-
posed monetary system of the present
silver maniacs These ianatical move
mcnts have always been supported by
an array OF alleged facts and figures
which were declared at the time to fur
nish absolute proof that the country's
prosperity and welfare would be
materially advanced if congress would
only coincide and endorse their crazy
schemes and adopt debased and un-
staple currency which would force the
establishment of false standards and
unreal values, making IS cents in the
hand of the wage.earner pay him
for dollars worth of labor. Under
the present silver law the United States
Government places the nominal value
of the silver dollar at one hundred
cents The supposed advantages accru-
ing to the people under such system
are, at best, vague and delusive, since
the gain, if such there be from the
coinage of debased currency, is
drawn into the treasury instead of fall
ing into the pocket of the individual.
The main argument upon which the
silvermaniacsreliedin in 1871 isdone away
with in the present issue by the fact
that there is now $500, 200, 900 in
silver coin in the United States
"largely unused" Even the Chicago
Tribune, that ardent advocate and
stanch supporter of the silver bill o
1877, now sees the practical results Of
the silver craze, and not only change.
its policy but openly stultihes itself and
its faction by declaring: "lf Cleveland
can prevail upon his party majority in
the house to order the coinage o
silver to cease ior the present, he viii
be entitled to the gratitude OF the
country, and IL aiN be an ctafiIeM star;
for his administration"
The silver system is, in truth, soone
than its enemies expected, wiring lch
abod over the financial prosperity OF th'
nation. The vote on the clause which
the late house refused to insert in tn,
civil appropriation bill for the suspen
sion of silver coinage Tor one yea
proves that political parties are no
divided upon the issue, and that tn,
result was brought about by the silve
flibusters during the closing days o
congress. In the incoming congress
change of 10 votes will be sufficient I,
overthrow the late "catch majority
which sustained itself only because tn,
question was not fairly before tn,
country. When the question comes L
issue the absurd and iallacious argu
ments of the Interested and hired sup
pouers Of a debased coinage, here an,
elsewhere. will be refuled line upol
line. In the meantime, il is rathe
amusing to watch Mr. Macfarlane'
able Honolulu editor in the Advertise
atsenps to pull in pieces the solid an
convincing argumenss for honest none
written by Mr. AacfaSlane's talente