The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-01-10
o OF HARD TIMES.

~
warfare against the metal OCCASION
ally, but Inadvertently, stumble upon
the truth. The latest illustration OF
! this fact is discovered in their asser-
ton that the decline in prices all over
| the world is due to the demand for
| gold, or IN other words due to the
partial demonstration Of silver.
which has caused q contraction OF
the metallic currency of mankind,
in which the value of all commodi-
ties is measured.
When silver has been destroyed as
money this contraction will be still
greater, and prices will experience a
| more pronounced fall and the pur-
| chasing power Of gold will be CORE
spondingly enhanced. Eut before sill
! yer will be universally dem onetized
there will be universal revolution,
and If every bond upon the face OF
the earth be rot repud;ated 1t will be
because provision shall have been
made to pay them in something be-
sides gold.
Now, in discussing this silver
| question, it is quite necessary clearly
to understand the motives of the
| enemies of the metal. It makes no
difference whether they be called
"gold bugs" "contractionists,"
"bondholders or creditor classes y
These terms r synonymous. Each
means enemies OF. silver" But 1t
must not be supposed they own large
quantities of gold coin. They do not
They are lenders. the bondholders OF
| the world who own the obligations OF
nations. communities and individu-
ais, and which obligations will be
almost doubled In value if silver can
be demonetized and they be made
payable in gold alone. For If silver
be stricken from the currency of the
country the purchasing power OF gold
will be 80 enhanced that one dollar
of gold will buy what 1t takes two to
buy. The principal and interest Of
these loans would be paid IN fixed
and Interchangeable quantitie s of gold.
This is what they are trying to bring
about. They are a shrewd and power
full class. They have not only the
bulk of the worlds bonds, but they
can buy the bulk of the worlds
brains. Lawyers, editors and states
men are at their service for a con-
siderstion. The war they are making
is upon the masses of mankind.
1t is the partial demonstration of
silver that is causing hard. times,
even more than overproduction.
When this government remonetized
silver the prospect of an increase or
imitation of the metallic currency of
the world caused a revival of activity
every where. Men wanted to get rid
of bonds and buy property and mer-
chandise. But the bondholders
che cked the silver revival. Their
grasp upon the governments OF
Europe was all-powerfuj, and for
several years they have been legis-
lating against silver. The result is a
renewed feeling that the worlds
metal money is to be contracted to
gold, and men are rushing to sell
property and merchandise, which
will decline, in order to buy bonds,
which will be correspondlrgly en-
HANGED in actual value. The owners
of the idle millions of gold and silver
in the banks participate in the hard
times. This is q harvest for them.
They get their pound of flesh and the
same interest as before, but they buy
their food and clothing and other
necessaries at much less than former
prices. But it cost their debtors
much more toll than formerly to earn
q dollar of i~ntesest.