Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1886-05-21
CONE INUNDATED.
SILVER.

1 SisES.
OF all the questions that are now
pending in congress, the one that most
vitality effects the interests of all class
es of American people, is seemingly
attracting the least attention. One
reason why the general public is so
apathetic in regard to questions of
finance is that the usual discussion of
them in legislative halls and the pub
lie press, are obscured by such a fog of
technicalities, obscure references and
wiglomeration generally, that the inn
preston is widely prevalent, that none
but minds of superior order are capa-
bic of comprehending them. There
are many who think that financial
wisdom in the United States is confn-
ed to the, sanctums of the leading dali
lies, to-day subsidized by the mono
metalists of the East, and to the men,
bers of the National Banking Associa-
ton; and perhaps no class is more pro-
foundly impressed with this idea than
the parties Just mentioned. It is not,
necessarily. a logical deduction. that
because a man has been emiently sue
~cessful in the management OF q speci-
al business that he is, therefore, quail
fed to shapethe financial policy of a
great nation. In fact, the most astute
writer's upon questions of finance,
those who have made the most indeli-
BILE impression upon the thought and
philosophy of the world, and whose
ideas have shaped the best legislation
upon the subject, have been those who
were not particularly successful in the
management of their own affairs. The
simple assertion of this fact is enough
to carry conviction to the mind Of any
one at all c%onversant with the history
Of the subject. The most notable at
tempt in our history to create a tinan-
ceer out Of a successful business man,
was when President Grant sent the
, nomination Of A. r. Stewart to the
senate, asking that he should be con-
, firmed as secretary Of the treasury,
2 An early law OF congress, founded in
! wisdom and justice, %forbidding any
. one being secretarJ Of the treasury
who was interested in imports, pro-
vented the confirmation, notwlthstand-
ing Mr.. iGrant with characteristic ef-
frontery asked congress to repeal the
f law. Mr.. Grant thus lost the opportu.
nifty Of paying a debt of gratitude tc
s the man who had made him a present
e of $4,000 and the country lost the op.
portunity of trying the experiment
The country somehow managed tc
4 survive the loss, and many of the best
v minds, with a singular perverslty, pre-
e sisted in thinking that the loss was
4 not a very serious one. There is nc
r doubt but shat the general principals
r of finance can be comprehended by
persons Of average intelligence. anC
certainly public attention ought to BIZ
directed to the discussion of the sub.
ject in the press, and to the attitude OF
! congress upon it.
The monometalists are eXerting all
their strength and influence in the
present congress to suspend the coin.
@ age Of the silver dollar, and with ar
d expression Of innocence that is chile
like and bland, are protesting that
they care for 10 further Legislation
@ than this. Let no one be deceived by
this. Their ultimate object, if they
e can educate or deceive the public, is tt
d make gold coin the only legal tender
n for the payment Of debt. Conclusive
evidence Of this can be culled from the
= proceedings OF the National Bank AS.
ISOLATION, from the reports Of the
It heads of departments, and from the
"a speeches OF some of the less discreet
j. of their advocates in congress. Sill
Thomas Gresham, Queen Eli2abeth's
celebrated tinanceer, is cannoni1ed F;
saint, and his celebrated law, chat
money inferior in general value will
so long IS it clrculates at all, drive ;
superior money out of themarket, ha.
ID become the leading tenet Of thei.
d catechlsm. Let this once be accom-
IS plished and the enginery for the op
l. preston OF the poor, and for the &C
emulation Of the wealth Of the nation
d in few hands, will be about as com
1t plete IS the NEST absolute fonda
J. prince Of the middle ages could hay,
e desired. The report Of the director O
< the mint for 1891 gave as the total gol,
circulation Of the thirty-one leadin!
countries Of the world, including In
ct dia and Japan, 81 billions Of dollars
and the total silver circulation Of tn
same, to be ~ billions of dollars. L
n other words gold is doing a little MOI
10 than 81 per cent eff the money work Q
if the world and silver is doing o it'll
If less than A3 per cent Of it. The pos
ton OF the nations upon this subject
of interest at this point. .Englan
adopted the gold standard in 1876 an
40 has maintained it ever since All 81