The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1886-01-08
s,,AlE coxehEss ausrRSD sttyER COTS.
AGES

we look carefully lot INC WouVvf WINS
induce men to oppose silver coinase,we
viii, without much difficulty, find that
these mosivea have thsir origin in pure
ly sslHuh purposes. The great body OF
the people Of the country is divided into
two classes-the debtor and creditor
classes. The latter has either money
on hands or the obligations Of his debit
ora to pay money. The former class has
no money on hands, but his property IL
pledged for the payments of bis debts.
Nov, w,if by any cause, legislation or other
wise, money is made scarcOr at the
time debtor comes TO pay his debt
than Il was when be contracted It, ne,
in fact, has TO pay more, Tin purchasing |
power,) than the debt was when IL was
contracted, for it is the experience of
every man, that when money Is plenty
its purchasing power is relatively small,
aud when it is scarce, its purchasing
power is relatively great. Or, in the
language Of the political economists Of
the day, to initiate the circulating
medium is to make the purchasing pow
sr of a dollar relatively less, while TO
contract the circulating medium Of the
country ia to make the purchasing pow
or Of the dollar relatively great. This
principle of political economy IL clearly
deducible ia ths every day trade OF
business Of life. The whole business.
trade, and commerce Of she world il
carried on Ia willing obsdisnee TO the
great Law af supply and demand. Why,
% rule, are butter and eggs dearer in
price in the winter season than In the
spring or summer ? Because, relatively,
eggs and butter are scaresr than money.
And, conversely, they are cheaper in
; spring and summer, because, relatively
J they are plentier than money. Now
for Congress to so lsgislate as to largely
contract the currency Of tbs country 30
that it would be much scarcer at the
time ot the payment Of debt than Il
was at the tims Of the creation OF IT,
! would be doing the debtor great In
, jury for while he, tine dsbtor,) would
! have no greater number OF dollars tc
pay, the purchasing power Of tho dollar
would be increased in proportion to tbs
4 extent Of the contraction, for, to thai
} extent, monsy would be more difficult
: 20 obtain, Tor wa have already showF
. that when money is sc ,rce aud any ar
I ticls Of trade or commodity is plenty
: then such article or commodity vii
command relatively small price. And
0 lie by contraction Of the currency, ths
{ debtor is injured by increasing his
debt, then the creditor is corresponding
lly benefited by such contraction
Herein is the secret Of the motive tbs
, inspires bondboldsrs, millionAires AM
stock jobbers to call for suspension o
silver coinage. If this demand wsr
granted them, they would not be COZ
tent. They would then demand th
: characterization Of silver now in ciEcu
IatiOu, and, that being granted, the.
would demand the calling IN and retire
ment Of the legal tender currency nov
!, ia circulation. As We have before sal
in these columns, il silver is now dem
lonetizsd, there will be more g At monel
!. men than tha country has ever known
BondhoIders especially are anxious TO
. suspension Of silvsr coinage, for the
fear that their bonds will finally b
paid in that kind of coin. Well, thei
!. bonds were accepted by them under a
express stipulation that they were pay
able in coin-gold or silver, and tn
people will be trae to themselves i
compelling these creditors Of the gov
eminent to accept such money ia pay
ment for their bonds as they agreed I
accept. These bondholders in the frs
> instance bought these bonds for green
backs, worth from 40 80 so csnts on th,
dollar, and then in order to largely in
crease their value, they induced Con
gress to pass an act to take Up thei
bonds and issue new ones payable j
coin. These bonds now ara at premi
um Of from twalve to twenty-fOur cent
and these money lords would increas
that premium by the degradation 9
silver. No wonder a protest goes u
from people everywhere against thi
effort by bondholdsrs aud millionaire
to control and manage the finances c
the country. Many good men hav
o been frightened iato the belief that ou
d silver is driving gold out of the country
If and have thus been induced to join /
Il the cry for the suspension of silver coin
'r age. But solid statistics show tbs
l. during the year 1884 we exported $4l
I. 0S1, ,957 of gold, while 10 1885 we eS
$, ported only SO, Az, 1872, while in 1873
y we exported $26,05l ,426 silver, and i
D 1885 s3S,75O,0S3, thus showing tina
as matter Of fact, silver is going ou
faster than gold. We believe the voic
: of the people is against suspension.
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