Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1885-12-30


unique in the annals Of parliamentary
debates. The Kentucky gladiator
fiourished his sword in the sunlight
of truth and its coruscations tempted
no devotee OF Wall street into the
arena.
The HERALD has given every con-
ceivable phase o. this conspiracy
a tainst the interests OF the masses.
An honest and earnest contemporary
says that Secretary Manning months
ago caused tables to be prepared
showing the increase of silver and
decrease of gold in the Treasury, as
well as the cost OF transportation OF
the silver dollars from the mints to
the sub-treasuries. The majority OF
the people Of the United States who
have given any study to this question
and whose interests are not identified
with banking or importing, say that
the apparent depreciation Of silver is
not real; that, compared with the
value OF merchandise, il has fairly
maintained it's equilibrium that gold
on the contrary has advanced IRON
several causes; first, the great falling
off in production both in the United
States and Australia; secondly the
enlarged use OF gold IN Europe which
has followed the deinonetizatioh Oh
silver by Germany; ana, thiraiy, III
the growth oil trade IN TINS ana otfer
countries and the greater demand ior
gold for exchange ana IN tle arts
Alexander Del Mar, wrltihg from
England ON this subject says;
"The general situation is as follows
rue Volume u MONEY ~ VIZ sJ''i has
been red,ced every wear for several
years, while the population and the
requirements OF exchange nave greatly
,ncteaseu, opoh '1 1o5i oa. az
ahlv moi lass than "a los. per capita.
II is now certainly not over e3 So. per
capita, and probably not over t5'
Inns enoIn a..;.s eo on,,i",;nn and thers,
sera VIII awcha meas II nuite sufficient
to account for the existing depression
OF trade without looking any further
1t is an extraordinary position Tor
our national government TO he placed
In that II cannot increase the supply
oil currency to meet the increased de-
mand Of growing population ana Il
larger commerce Inc people nave
no remedy unless 1t be TO urge their
representatives to do their duty rear
iessiy and compel the Administrator
and It's officers to obey ana carry out
the law IN It's integrity ana iofplu
them IN terms That threaten ihpeach-
ment Tor neglecting their duty or as
obeying the statutes. A curious proof
OF how much more respect IL paid 10
the wishes OF the banks than the
mandates OF Congress, Is Afforded by
the tone OF the last report oil the
United States Comptroller oil the Cur
rency. In that document he alludes
to the ''folly" OF Congress in ordering
the coinage OF silver dollars; declares
that "the law is unworthy OF this ma
ton" and predicts that it will soon
'er or later bring upon us financial
trouble and disgrace ~ Report OF
1884,
No subordinate officer OF the gov
eminent had right to make aiormal
report on the folly" OF the Congress
which created his office, and laid down
for him the duties which he should
discharge. The people do not want
Cesarism either in the White House
or in the Treasury building. We say
that except by coming silver, the Adj
Manifestation, even did it desire to
bring the currency more into proper
ton with the needs OF the nation, can
do nothing. 1t parted with any other
control over the circulating medium
some ten or fifteen years ago. The
gold coinage is regulated by the de-
posits OF bullion holders, and this
means, substantially, the banks. The
greenback issues are limited by law
practically to 1916 900 900, and by the
law OF 1875, operating from 1879, they
are redeemable in coin upon presenta-
ton at the Treasury. The banks hold
more than ope-iourth of these notes.
and bava n in THAR mower To cause
sucb n RIM on the Treasury ms would
compel IL to.ston cold navments. The
hank issras are goyerned nv the hanks
Thera IN mo national bapk The so
called ",at;onal hanks, are the old
state hanks with new names Thev