National Republican., 1885-12-19
rnE MEssAeE AND MoNEYBAG
Some Phiiosophio Reflections on the
silver and Gold Clause.

SOnc BhilOhOphtc Hehections on the
silver and Gold Clause.
EDiIoR NATIONAL REPUBLtcAN; There
certainly can be no objection on the part OF
the bankers and money loaners OF Wall
street to that portion Of the Presidents
message on the silver coinage question
which says:
Since February, 1873, the. government has
under the compulsory provisions Of law, pur.
chased silver bullion and coined the sIme Mt
the rate of more than S2,0OO,0O0 every
month. by this PROCESS up to the present date
2l5,769,43l silver dollars have been coined
lie might have added that this bullion was
bought, coined, and largely put in circula-
ton by the government at profit Of from
10000, 600 to $40000,000. Then, again:
The necessity for such an addition to the
silver currency of the nation as Is compelled
by the silver coinage act Is negatived by the
fact that up 70 the present time only about
10000 900 Of the silver dollars so coined have
actually found their way into circulation, leav.
ing more than 1Gj, 100000 in the possession Of
the government. the custody of which has en-
tailed a considerable expense for the c0nstruc.
ton Of vaults for Its deposit.
II cannot be supposed that the President
in this statement meant to deceive or mis-
represent to the people. although he knew
at the time that, beside the fifty millions Of
dollars, us dollars, now In circulation,
nearly or quite one hundred millions Of the
one hundred and sixty-fve million In the
possession Of the government In the shape
of silver certificates In circulation as money,
and taken and held by the mass OF the
people In preference to gold, the silver In
the treasury being held In trust for the re-
demptlon Of these certificates Issued by the
treasury, just as the government bonds are
held for the redemption OF the national
bank circulation. Then, again;
Every month two millions OF gold in the
public treasury are paid out for two millions
or more of silver dollars to be added to the
idle mass already accumulated.
II silver bullion is worth but so cents on
the dollar, why are So, 600 900 Of gold used
| TO buy $1,600,000 worth Of bulllonp And
| why Is gold used in such purchase II the
home product is not ignoredS Then, again /;
The words uttered in 1891 by Daniel Webster
| In the Senate of the United states are true TO.
| day: The very man of ali others who has the
| deepest interest In n sound currency, and who
| suffers most by mischieyous legislation In
money matters, is the man who earns his daily
bread by his daily toll"
| No words could be more truly spoken,
and every true man should do all In his
power to prevent this "mischevous" legis-
lation proposed by the President Of the
United States. Then, again:
| NoAmerican citizens hand has yet felt the
| sensation of cheapness, either in receiving or
eSpending the silver act dollars.
The answer to this is that all enter
prises-and there are few men who inaug-
urate the enterprises OF the country who
do not have to borrow largely to supply the
needed capital--had to pay from to IL per
cent. interest for the money borrowed be-
fore the Bland silver bill became a law.
Now, all the money needed In any
legitimate enterprise can be had at from
3 to Z per cent, less per cent. than ever
paid before and less than ever will
the ps& coinage on 0id the l'a'si Silver Supf%G do1
and the interest demanded will soon double
what is now being paid. According to the
play, Shylock only wanted his pound OF
flesh, making no claim To increased weight
on account of the poverty Of flesh Of the
debtor, resulting from his poverty OF
shekels. The present gold bugs, backed
by the President, want 20 per cent. added
to their pound Of flesh. Again:
This boarding Of gold has already begun.
When the time comes that gold has been
Withdrawn from circulation, then will be np
parent the difference between the real value
OF the silver dollar and dollar In gold, and the
two coins Will part company.
Who is boarding goldS Silver and gold
men were In company when the country
had as lawmakers at least as good men al
we have now. Both gold and silver wer,
made legal money, and but few years agc
silver in the worlds market was at pre-
MUM over gold, and 1t may be so again
The people never did and never will us,
either gold or silver in everyday transac
tions when they can have paper none.
that at will can be converted int,
coin. Not one out of fifty o
those who will read the Presidents indict
ment against silver and speech for golt
has received or paid out, In ordinary bust
ness transactions, gold piece, or desires
TO do SO, in preference to silver certificates
| olyp ,atf hap ms ui I
the last three years. The people are full.
content with the paper money AMI
fractional silver now in circulation
and IL the administration doe
not force free trade and frc
ships and similar un-American scheme
through Congress, the balance OF trade vii
be largely in this country's favor, bringin
gold here in place of gold being sen
abroad, and so far as the boarding process
! is concerned there will be more silver do
,, lars boarded away in old women's stocking
than there will be Of gold by the gold bugs
All that is needed for the country's pros
perity is for Congress to let the tari
and silver questions alone. The Presiden
says that there is no danger from the pres
: ent amount of silver coined. Another year
coinage cannot do much harm, and, II 1t
then found that It is really doing harm,
. will then be time enough to stop the coli
age. Another election will have take
' place, and II the people want the coinag
of silver to end they will elect a Congress
that mind. No one supposes for momer
that II Mr.. Cleveland had announced his ol
position to the farther silver coli
age before the Chicago convention
he would have been nominated. An
= would 1t not be well for the members {
n Congress to consult their constituents b
! fore following the Presidents recommend
: tiong The bankers and money power