The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1886-02-10
THE BATTLE OF THE STANDARDS.
ro tle Editor of TuE Rrcnnn

which lie at the foundation Of peoples
inalienable rights, will not be quieted at
the politicians bidding, nor follow the
lines of party cleavage as they desire. This
winter its discussion in Congress by the
two wings of the hard money party seems
likely to be more important and more bit
ter than ever before. We, who can hearth |
ly say to the warning factions, "a plague
o both your houses may perhaps be
able also to give an impartial word TO
light the truth between them.
l. An the honor and authority which
can be claimed for gold as money, through
tradition or long established law, can be
claimed with equal force for silver. On
the other hand, If the silver men can be
justly held mp to ridicule for clinging to
the 'dollar of our fathers after modern
exchanges have outgrown its use, then, for
the same reason, the gold men must be
charged with an equally ridiculous super
stition. 1t is true that silver is absurdly
cumbrous for modern use as money, but
it is equally true that gold is absurdly in
adequate for that pupose. In point of
fact there is probably greater proper
ton of silver now used in exchanges and
a less proportion lying idle than is the
case with gold. 1t is true, also, that sill
yer as basis of circulation would tend
towards. imitation, because there would be
little demand for redemption but it is
equally true that gold for such basis tends
towards panics for when demanded, it
disappears.
Q. Whenever the silver men wish to
scale their debts with an so cent dollar,
or whether the gold men wish to oxtort
1876 cents for each dollar of debt due
them, cannot be determined by mutual
ordinations, but by actual facts. Rea-
son would teach that when one metal is
discarded from use formerly filled by
two, the metal discarded would fall in
value while the other would rise. More.
over, the common instinct of the people
teaches them that the continual fall in
prices is what is forcing so many into
poverty and bankruptcy. 1t is true that
many do not know what those who should
be teachers strive to conceal, viz.-that a
fall in general prices must mean rise in
value of the standard which measures
them, and that this effects an unjust dis
tribution of wealth, whatever be the
81, 81, c.,l
tables of prices (see, for instance, the NJ
T. Semi. Weekly Tribune for Jan. 5lh)
show that since 1875 gold has risen in
value more than the difference between it
and silver. Such scientific tables of prices,
showing the fluctuations of chosen
standard, might be used to correct
government issue of cash paper, max
ing 1t in fact a multiple standard of value
almost perfectly uniform and just. Until
such money of civilization comes, think
equity demands that the public debt shall
be paid one-half ip each metal. But inius-
tioe begets injustice, aud those who would
now starve the peoples pockets with the
dearer gold may expect in turn to have
merely the cheaper silver crammed down
| their own.
8. The idea, apparently elevated into
principle by the Republican party, that
the government should generously decide
every doubt and claim in favor of the
public creditor, arises from an entire mis-
apprehension of the case Between pri-
vate debtor and creditor such action
might be praiseworthy TO the debtor, al
though it would certainly not be business
like. Those who are anxious to pay their
debts are generally careful at the same
time not TO overpay. But our government
occupies the position of judge rather
than of party to money contracts. What
II puts into The pockets of one class of its
citizens it takes out OF the other. Any
thing more than exact justice to the cred
itor class is rascality toward the debtor
class Moreover, while the government
thus showers its favors on the few with
one hand, it must with the other rob and
prosecute the many--as witness the pres
ent tendency to large fortunes ccincident
with the Wholesale destruction of small
ones. For this double crime-against ex.
act justice aud against the principles of
our institutions-tbe Republican party
must expect the judgment.
a. The plea that our country should
stop the coinage of silver, In order that
other nations may be forced to unite on a
bi-metallic standard, should awaken sus-
piciops from the fact that the enemies Of
such standard favor tie plan most
warmly. IL is the old scheme to give evil
doors rope and let them go hang them,
selves. But they generally use the rope to
bind more firmly their victims Our fore
fathers might have waited until dooms-
day had they deferred political independ-
ence until other nations should agree
with them. And must their weak sons
wait for the improbable consent of other
nations before declaring for financial in,
dependence, justice and prosperity?
3. The argument that continued coin
age of silver will drive gold out Of the
country and thus cause ruinous con-
traction and fall Of prices is scarcely
worth considering, for it is always as
sisted ~ by the argument that this same
coinage Of silver will cause initiation Of
prices; that is, the same cause produces
two precisely different effects But If the
gold advocates sincerely desire to retain a
pinch of gold why not follow the prece.
dent set by law In 1884 and reduce the
gold In gold dollar until it is worth only
as much as a silver dollar? This would re-
ceive the ready assent of the silver men
and retain the gold, yet it would be re-
jected with scorn by the gold men, plain
/ ly, because it is not merely gold dollar,
or just dollar but dear dollar that they
want to enrich themselves and to render
all human effort III. paid and cheap