The Wilmingtonian., 1886-04-24
Hon. Chas. B. Lore on Bi-metallism

We are in receipt of copy of the recent
speech in Congress OF the Hon. Chas. B.
Lore entitled "Gold and silver the coins of
the Constitution
1t would be impossible, on account of the
lengthiness of it TO give the speech IN erten-
So There are numerous points, however,
facts well worth remembering arising id the
course of the discussion, which the average
reader will notice and treasure as significant
ly worth memorzing. They afford nucleus
Of initial logical standing ground upon which
the bowidered reader can safely anchor him
self, and from these starting points at least,
make measurahly intelligent criticism of
the wide mass of opposed assertion and re-
assertion, that this important question has
evolved.
''For instance, Mr. Lore said 1t was
prophecied in 1878 cheap silver will drive
gold out of the country. In 1878 we had in
circulation 5000, 900, OOo in gold in 1886 we
have 5000, 900 900
Has there not sufficient time elapsed, eight
years, to test that prophecy Surely when
gold has increased to 300 per cent we cannot
accept the assertion that the precious metal
is being driven from the country by silver.
Again, the single gold standard prevailed
in our country only from 1878 to 1878-five
years. They were five of the most disastrous
years of our commercial and manufacturing
history. ...
1t is urged with vehemence that the silver
dollar is dishonest dollar-one of only sc
cents in value. In all the newspapers repre-
senting the capitalists this assertion has
been iterated again and again until by many
its truth is assumed.
When and how did this historic dollar be-
come dishonest? 1t has been the one unchang
ed and unchauging factor in our finances
honest to debtor and creditor alike. It is tht
only coin in our history that has continued
the same at all times. The silver dollar o
1892 is identically the silver dollar of 1886 il
held capital and labor in the same even ant
inexorable balance, and has kept interes
rate within the capacity Of the borrower
Has not gold risen in value fully one-fourth
Shall the usurers gain be increased one
fourth therefore, by another turn of th
financial screw, and fourth more of humal
toll and The necessities of life be given b.
the toiling, borrowing millions to the lend
ing few? Fix the gold unit and this is a
accomplished fact as vi,ides now stands Tn
gold standard would rob the many, enric
the few.
PROTECTION OF LABOR.
The conutned coinage of silver dollars,
is claimed, wrongs the laborer, that his intei
ests are best served BY suspension. If true
this should awaken earnest opposition.
not the assumption based on error? Labol
ers have been called capitalists. The ide
was formulated by Mr.. Bayard in his speec
in the United States Senate in 1878 in TIL
| language
1t cannot be that the laboring classes al
the debtor classes on the contrary, as | sa,
there is not day in the year when the su
goes down when they are not the creditor
F of capital for the amount of their wages f,
that time.
This assumes that laborers are capitalist
a or of the creditor classes, but with the a
commodating suggestion that the sun sha
first go down each day in order to NAL
I them such.
Q The great labor classes are neither capt.
:. nor creditor classes, save in mockery-th
+. are the producing class Their daily lab
e is the product they bring each morning in
y the market for sale to the best advantag
G They have right to demand the highe
price for that commodity-that wear
brain and Drawn that fills the earth wi
, riches. They find the best market and Il
= highest prices where money is abunda
3 and business brisk Like agriculturist al
{ other producers, they have something to Sc
: Unlike capitalists, whose money is invest
/. at rates Of interest fixed by law, which ca
a not be changed, the prices Of labor chan
:, IN quick sympathy with the abundance
money and the ever accompanying demand
labor. The claim that the gold unit, as
= greater purchasing power, is a benefit
y labor is a flight of craftsmanship that h
a no basis in fact, and could only rest perm
nently in the minds of those who know lit
of the toll and experiences Of labor life.
1t is objected that further coinage of sill
A. dollars would result in scaling public a
private debts, which is repudiation and d
honor. Every honest man shrinks instil
IL lively from Reputation OF his debts
II Is this implication Of reputation agaii
:" bi-metallsm true? Would either public
of private debts be repudiated or scaled
lie payment in the dollar Of 37l grain of pr