The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1885-07-04
DISTINCTIONS ARE DEADLY TO
BIMETAL CURRENCY.

Grave responsibilities at all times
attend Legislation touching member
of our legal tender, and especially so
in this the crisis of silver; and much
is the need of the enlistment and
proper direction of the public and leg
is!ative mind in view of the Roadway
made in favor of scarcer, dearer mon,
ey, and therefore higher interest,
which means. whether So considered or
not, advanced prefeIments to the
money !power, advanced ag>
gressions upon the welfare Of the mul~
titude. Dissertation, upon the silver
question that we have seen err not as
we apprehend in that, much is said
about the depreciation of silver, but
in that too little is said about, too lit
tie stress is laid upon discrimination
against it, and the indispensiGllity of
its removal in order to "a remedy. 80
great in my conception is the evil OF
present Distinguishing between mem
bers of our legal tender, that its res
moval should engage legislation atan
early day. For it is apparent from
the nature of the case from the rela~
ton of equivalency as to prestige
subsisting between gold and silver as
legal tender, in their normal legitl-
mate condition, that the preservation
of the integrity Of bimetal currency,
can be maintained only as this equi-
librium between them is NIGEL y pres
served by government. This equi-
poise as to prestige between them is
integrity and life; discrimination be-
tween them to the favor of one
against the other, is diminution Of
character, want Of confidence, depre,
citation, and on such continuance final
overthrow of the one disfavored.
Change human body from its nor>
NAL healthy condition by poison, and
prescribe for the patient with contin-
uance of the poisonous drug, and
would there be surprise that the pa
tent grew worse and died? 30 silver
thrown from its normal legitimate
state fingers, as seen under the poison
of distinctions. Equilibrium, the vi
tality of bimetal currency, was thus
perverted, when national officials dis.
tinguished between gold and silver in
paying interest on bonds IN gold to
favored ones, to the disparagement Of
silver, and in violation of law which
said coin, establishing the precedent
by ipse dirit, that in some cases silver
cannot come III, is not full legal
tender. What better plan than this
could have been invented to shake
confidence in silver, which confidence
is its life?
Congress declares by enactment
that interest on bonds shall be paid ii
coin. This com .nand Of the only le-
gally constituted authority goes unex
ecuted. NOnlegally constituted au
thority opens its mouth, com
mands the contrary, was obeyed /
still obeyed. Can equities exist ii
the land and not in this? They can
not. This erection Of the vail of dis
tinction was the first great stab to sill
yer in this Countrywide greatest IL
the worlds history, because Ii CAV
birth to causes and distavors that hav
eliminated as now seen and felt /
the highest depreciation OF Its history
That such causes should produce sue
effects is not strange, 1t would b
strange were it otherwise, as this
only verihcation of the law of cauS
and effect. Stab the character of
legal tender, or the character of AM
thing, and you stab confidence an
confidence is the food of its life. Pre-!
tige of legal tender exists becau'
the the government says 1t shall b
such in every case. A dollar lsa do
lar, because the government says
shall be such. Iron, by the potenC
of prerOgative Of government, turf
into money as in one aye of Il
world. Character Of legal tende
depends not upon the quantity Of 81
yer. Silver might become scarce, b'
if wanting, as now in executed recog
ton by the government as legal tel
der in every case, and he none Il
less subject to present depreciation
tor as government decreases Il
uses to which silver money is apple
it decreases its acceptabilily, decreas
confidence in it, and increases its d.
probation. For if government b
speaks abatement of its confidence
its own coin, which it does if it dist
cuisines against it as now, it is not