National Republican., 1885-12-19

10 n misuse OF peTNeTklOn OF tnclT power.
Even so And the desire to utilize iron, cot.
ton wheat corn, and all other products of our |
country should not lead toa misuse Of power |
or any violation ~ oi statute law but ai tne same
TO dispose OF our surplus, which most certainly |
cannot be successfully and profitably done by |
dtpIeciating their quality and value; AS well
and ability OF our government and yield II q
prey to any foreign power.
Silver, being one OF our great leading pro
ducts, adds to the national wealth ms well as
amy other product, and therefore should not be
voluntarily deprecated. Being used as money
by oyer, seveneishths % Of the people Of
cording TO the report OF the agents of
the Rothschilds sent here to examine-own and
possess over four:fiiths of the silver product of
The earth. II would seem TO be the true interest
Of our government TO protect and maintain the
value Of silver rather than deprociatc 1t,
whether coinage be continued or legal tender
certificates issued for oil the bullion produced
nom our mines.
The President lays great stress and emphasis
a. on the statement, and asserts that II the gov.
ernment continues to coin silver ut the present
rate that II will cause gold to be boarded and
driven out of the country; that boarding
has already commenced, and gold aud silver
If such Is the case. and gold Is really taking
its departure, let 1t go; 1t will come back. IL
left US during the war, and did not return
But the results of silver coinage so far do not
prove this assertion. In 1873, when the silver
coinage act was established, there, was esti.
mated to be not over two hundred and fry
millions Of gold In circulation In this country,
To-day Mr.. Manning, the Secretary of the
Treasury, In his annual report, states that
there isover five hundred and flty millions
of gold now In circulation the amount
having more than doubled since the com
mencement of the monthly coinage of silver
dollars IN 1875 that about 2l5,Oo0,0OO silver
dollars have been coined up TO tho present
| tlme and during the past fiscal year the Secre.
tarys report shows that the balance of gold
l.x..a NaI s..NA hi A0a1 al.s.sfA
| the amount exported has been sls,2l3.S0i
| This statement, of course, does not Include
the amount brought in by emigrants and by
Evidently so far gold does not seem to go
abroad to visit its foreign friends It is be-
| lieyed that as long as the balance OF foreign
trade Is in favor of this country las II has been
| every year since 1879 gold will continue to
hold a comfortable residence IN this country.
The President In no way refers TO, or makes
any recommendation In relation to, the $780,
| now In circulation, neither does he state, or
| recommend, how much or what kind of money,
| besides gold, shall be the circulating medium
or currency Of this country-except, he says,
"the volume of our currency may be largely
| increased through the mediums Of the national
| banks already established" This, to q certain
extent, is true. As the law now Is, the banks
| can II they choose, and 1t should be for their
interest so to do, issue currency up 10 the full
amount OF their capital. SO far II has not been
for their interest to do so, and If 1t was, they
| can only issue currency, but not the actual
| money OF the country for nothing, as Is well
enSer and ssGssd pu BY ioyeTesn power ad
authority. Therefore, plainly, all the actual
TSSS be &c the ysS SoW S Sod Ss Ssd saS ns
retary OF the Treasury proposes and recon-
mends the repeal ofthe act continuing the $780,
oS G maiSss ifss onS SSdGs of dssRs RaRsi
money, with which to transact the whole bus.
iness Of the country, being less than eight dol.
lars per capita. while other nations circulate
ana are using from twenty-five to sixty DOL.
But, II as stated by the President, gold should
continue to be boarded, and transfer its resi-.
dence TO foreign countries, single millionaire,
like the one who has Just died in New York
could own and control nearly the whole cir
euiating money In this country. ,,
| As the President most truly says. In his mos
sage to Congress Nothing more important
than the present condition OF our currency and
coinage can claim your attention" These are
golden words, and In their right spirit should
| be carefully needed by our legislators. Ger
tainly nothing more important ever has been.
or ever. can be; presented to the legislative
body OF any duly organized government. A
| nation or government without a Just and legal.
lied money system can no more prosper and
successfully continue to exist than a human
| body can thrive and healthfully live without
good and sufficient circulating blood. This Is so
plainly evident that none will dispute 1t,
Then, why this great and fierce opposition to
reliable estimates there Is not to exceed llve
and half billions q gold IN the world, and
Again, the President says, gold Is the only
true standard OF value, and that silver in sew
eral foreign countries has been demonetized
and Its further coinage suspended, As stated
a short time since. Mr.. Editor. in one OF your
Breakfast Table Letters to the President, over
nine hundred millions of the people of the
world use both gold and silver as money, and
use silver alone. How, then. can 1t be main.
lained that gold Is or can be O true universal
standardY standard recognized by only two
the business OF the whole world. Thomas
Benton's 'rhirty Years View" says that fol
three hundred and flfty years past gold was
one of the most huctuating products of the
earth, During the, whole, period Of our civil
war; practically and absolutely. gold bore a
premium, and was not In any general way a
practical standard OF value. God did not create
such an article aud man cannot establish Il
until all the nations of the earth become one
universal brotherhood under one government.
Nothing but an established unit, one--one dol
lar-can ever become the universal, unvary
ing, and permanent standard for value and
the term, or unit, one dollar Is already &c
knowledged and recognized by the civilized
nations Of the earth as the only true realistic
standard through and by which values can bt
justly measured and equllized.
Each nation creates ana establishes its owl
circulating currency or money TO represent
value and quantity by the recognized uni
standard. Each can and does eglslate for itscl
how many grains gold or silver shall represeen
does not and cannot establish universal valu'
for gold and silver for all nations any NOR,
/, | than two or three nations can establish a uni
versal and permanent value for any other tan
gible commodity All differences OF value II
: the general exchange must be settled b!
: compromise and agreement, based on th'
acknowledged and unvarying unit one
gallon, one bushel &c. Whether tn,
: English bushel be five pecks; the Fronci
! bushel three peCks and the American bushe
) four pecks, orany other quantity when the ex
change is settled, the bushel quantity, as wei
: as the money value, is settledand equalized b!
{ the unit standard, and not by any univorsa
gold standards for, as before, said, Their
never was, and never can be, such standard
Therefore, how plainly 1t Is manifested that |
is not requisite or necessary that money or tn
circulating medium should be made OF an,
valuable material, or that II should have an
deemer, except always, II must have the SOY
ereign authority fiat aud stamp Of the natioi
| issuingit
Gold, Silver, copper, or nickel have thei
/ value as commodity in tho same manne
!. that any other product has value, which is b.
/ gold, known to be limited amount and quan
8 tity In the world, and having always been USE
4 more or less by many nations of the earth a
money and medium of exchange, necessarll
has, and must continue to have ana hold 70
;. other various reasons, q more moro universe
= but increasing value than any other know
r product of this earth Therefore, for tn
|; luTther reason that its value must continue /
( increase, and as there Will also be desire an
struggle on the part of each nation TO hold an
control as large Il portion OF the gold OF III
Q earth as possible, makes II an unsuitable an
, impossible true standard Of silver. As ha
!. been olten stated blythe best writer's: "Wher
IL Caa nd aNI IA