San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1886-02-04
The Silver Question.


of the demonetization of silver are
European bondholders, and their in
terests are directly against the labor
ers of the world If such thing as
the demonetizing of silver could oc-
cur, the effect upon society would be
that the good faith they have form
erly held in their rulers would be de-
stroyed.
TO obtain an insight into the rea-
son why the bondholders are anxious
to see such change brought about,
it is necessary to consider the bonded
debt which they control. The aggre-
gate debts of all nations are over
S26. .00O,000,0O0, all Of which is main
ly controlled by a small European
syndicate. If China, India and Japan,
with their population of 662,000,0O0,
and their debt of $1,110,000, were ex-
cluded, the remaining civilized coun-
tries would have national debt of
$25, ,OOO,OOO,0O0 still hanging over
them, and other indebtedness of the
same countries are estimated at sew
eral times these figures. But, if we
assume that all other bonded obliga-
tions are only equal to double that
amount, we have total Of $75,0OO,
100000. And the population of the
nations owing this debt is about 1885,
100000, about 28,O00,000 of whom
are not sufficiently civilized to pay
taxes, and of the remaining 100000
600 not more than one in four is d
producer. Now, this one-quarter
must not only support the other
three-quarters, but must pay an an
nual interest of at least four per cent.
on $75,000,000,000. The bonded
debt was, at the time it was contract
ed, an agreement on the part of the
debtor to deliver to the creditors at
the various times named in the sev-
eral contracts, either gold or silver, at
the option of the debtor. If silver is
to be Withdrawn from the money Of
the world, so that it cannot be deliv-
cred by the debtor in the discharge
of his obligations, the contract will be
changed, and the debtor injured.
Money will be scarce; there will be q
failure in the crop of coin; in other
words, demonetization of silver means
q corner in money; and when such
a corner" occurs, brokers and bond
holders will not be slow in taking ad
of it. And well may capital
sts timidly shrink from trade, and in
vestors be unwilling to take the
chance Of purchasing property, when
4 promise is made to them by pow
srful administration that silver shall
De demonetized, property and labor
made cheaper, and gold made dearer.
Why should not capitalists hoard
gold, and refuse to invest in property,
when the administration proposes to
enhance the value of money, and de-
press the price of property In con-
.lusion we ask: Why should enter
,rise be crushed, and the laborer
brown out of employment, and mis-
.ry and gloom be spread over the
and, to satisfy the selfish greed of
he bondholderl Let him take warn
Dg from history. Revolution and re-
,udiation are written on its pages
in the end, destroys the
,ppressor as well as the oppressed
The only absolute security of the
is general prosperity. No
can exist with a decreas-
lg circulating medium. Contraction
leans all of the misfortunes that can
appen to civilized society. L
StagnatiOn, bankruptcy, idleness,
tarvation, crime and misery are the
sgitimate offspring Of a decreasing
irculating medium. While on the !
ther hand, prosperity, employment,
obedience to law, and {
appiness, follow a sufficient circulat-
lg medium as naturally and as regu-
,rly as good crops follow generous d
AIMS and favorable weather. q