The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-03-19

oY tie world today Are we noe 11oIant fac
70 fscc with the startling act that the gold pro-
ductioii OF tie world iIa@ fallen below it, con-
sum- ton in I'll arts. an that there Il n, prob
ply for centuries TO come. With this
condition OF things as to gold. shut of
silver as u now proposed and where Is , tn ,.
coin now in the hands OF the world. 10 come
from. AZ agg-aya ing to this STATE OF affairs In
this country; the paper currency Is UNDERGOING
contract ion by the surrender Of hank notes. Ii
this state Of things h to last upon what Is there
to build tn, hope OF returning rrospsrty! In the
last three years. ACCORDING To the London Ecob-
omisf. prices have fallen more tn n 20 per CEN.
that If, money has appreciated in that ratio
In the quarter century following the gold dis
coveries Of California and Australia. the stock
of precious metal in use rs money Was increased
by nearly 10 per cent. The trade and commerce
of Great Britain and the United States during
the same period increased more than four Fold,
and wealth prOporttOnatcly.
Reverse these conditions. shut off all money
supply, and what room for hope i there Tor
mankind. except for those whose incomes are
sure With the appreciation Of money ALL
debts appreciate. When Il is remembered tina.
such debts run into tens Of billons--rnorc than
the entire present wealth OF the United States =
the vast consequences OF the appreciation nf
money are seen The control Of feudal lords
over the earth II the middle ages was f.-igni-
ficant comLarcd with tn. control the moiern
creditor kings an r y. vino, through layisia-
tion. can secure an increase in the value o
money IL can b. shown a, Il viii AXE NOR
labor or more Of the produce OF labor, lay
what remains Of own ma ional debt nov
than ii would have taken to pay 4 all
at the ccse Of the war Eighteen IN ion
bales Of cotton were equivalent III Naiue 10
the entire intcrcst-bcaiin- debt In IL. BIT u
will take 3d. q. oo bae- 4 the price OF cottnn
now 10 pay the remainder o. the debt. Twenty
fiye million tons Of bar iron would have paid
the ole debt In 1sG5 1t will take 81 0u.n
tons to pay what remains. after all that has
been paid as principal and int est
in view the vast interests involved the
friends Of silver did not think il TOO much 7
ask that the question Of stopping iii coinage OF
silver should not be separated from lis re alton
70 the whole currency question AM act a y on
BY itself The currency question. Y Is believed
at the present time Overshadows al, other Gncs-
tons, and all the friends II stl. er have sLed l.
that the President elect should give II tnll con
-idcration and hear both sides before commit
ting his administration to any articular view
respecting il.
Judge Reagan makes separate statement on
I the whole subject matter At Issue between
the silver men iii Congress AMI air. cleveland.
in which he cilafacterizc> some o. The latter $
declarations as must cAtfaOr sinarv aud astonish-
ing. The Judge concludes his discussion o. til.
I question rs follows.
| The reoplc OF this country know. whatevs i
bankers and EOndhol.icrs may think, that this l.
an effort to subordinate the Interests Of the
American people to the class known a. iankerr
and bondholdcrs. ana to compel the democratic
, President and the pemOsr:fs in Congress t.
adopt and carry out the very policy Tor tils
carrying out OF which the Republican party WIS
OCAUCi obAu suint.s ouo " sossA. Assss :. -
was the tool Of the corporations and money
kings and it beaten for being SO, an. the
Democrats do not propose to take UP the old
clothes Of the Republican party where = threw
them down. The country has not vet forgotten
that in ISIS, when Congress Was trying To re-
store silver to circulation and to pr Vent tie re-
tirement and cancellati n OF legal-tender M es
the banks. in order to prevent this. contracted
the volume of currency nearly $50 ".fsa !.
about three wee ~ threatening monetary
panic, for the purpose OF intim.dating Cengres'
and the President and to prevent the assage o
measure which the best interests OF the country
reauired Andt.cy would have produeei lani;
IL the Secretary oftlie Treasury had not thrown
considerable amount of money on the marne
to buy up public securities and furnish til,
necessary circulation 1t is stated that they are
now threatening another panic II they cannot
succeed In what they want. It Is to be hoped
that Congress will answer them by repealine
the law authorizing chartec banks, and the con-
troll OF the volume OF money. or will at leas,
take from them the privilege Of issuing curren.
CIV and controlling its volume. We can safely
dispense with the national bank notes by sub.
shutting in their place an equal amount Of
Treasury not 3, which would be receivable fol
all taxes and dues. md redeemable in coin q,
the will of the holder, and which, though no,
| legal tender. would be first-class commercial
paper and would have exactly the qualities that
uatiOnal-bank notes have