The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-03-02

Shown shove q that money will i take can mo1; ;;
labor or more OF the prodncs
OF labor to pay what re.
mains OF our own national
debt now than it would have taken
TO- pay 1t all at the close
Q, oI the war. twenty-five mil
non bales of cotton were
equivalent in value to yhe entire inter.
est-bearing debt in 1885, but il
will take 35,OO0,0O9 bales at
the price of cotton now
TO pay the remainder OF the debt.
twenty five million tonp of har-iron
would have paid the whole debt ia
1863, 10 will take IS .0O0. .009
tons topay what remains alter all that
mas been paid as principal and interest,
IN view OF the interests involved
the friends OF silver didn't think Il
too much to ask that the question
Of the stopping of the coinage of
silver should not be separated
from relation TO the whole
currency question and acted upon
by itself. The currency ques.
tion, it is believed at the
present time overshadows the other
questions and all that the friends of sill
yer have asked is that the president-elect
should give it full consideration and
hear both sides before committing his
administration to any particular view
respecting it.
WHAT JUDGE REAGAN SAYS.
judge Reagan makes separate state
mont OF the whole subject and
the matter at issue between the
silver men in congress and Mr.. Cleye-
land, in which ho characterizes
some of the latter's declarations as most
extraordinary and astonishing. The
judge concludes his discussion of the
question as follows:
The people of this country know,
whatever the banks and bondholders
may think, that this is an effort
to subsidize the interests of the
American people TO a class known
as bankers and bondholders and to COM
pei Democratic president and Demo-
cratic congress TO adopt and carry out
tho very policy for the carrying out of
which the Republican party
was beaten and turned out of power.
That party was the tool OF corporations
and money kings, and II was beaten for
being so, and the Democrats do
not propose TO take up the old
clothes OF the Republican party where
they threw them down. The country
has not yet forgotten that in 1878, when
congress was trying to restore silver TO
circulation and TO prevent
the retirement and cancellation of legal
t0nder notes, the banks, in order to pre-
vent this, contracted the volume oI
currency nearly Sl0,0OQO00 ia about
three weeks, threatening q
monetary panic for the purpose
of intimidHting congress and the presi
dent, and TO prevent the passage of 9
measure which the best interest OF the
country required, and thoy would
have produced panic If the
secretary of the treasury
had not thrown considerable amount
of money on tho market to buy up pub
lie securities and furnish the necessary
circulation. IL Is stated that they are
now threatening another panic If they
can not succeed in what they
want. II is to hoped congress will an
swer them by repeating the law author
izing the charteriug Of banks and the
control of the volume of money, OF
at least take from them the privilege o
issuing currency and controlling ii
volume. We can safely dispensl
with national bank notes
) by substituting an equal number o
treasury notes instead, whlcl
would be receivable for al
taxes and dues, and redoemabl'
in coin at the will of the holder, ant
which though not legal tender, would bl
iirst-class commercial papor, and woul,
: have exactly the qualities tina
' national bank notes now have.