Savannah morning news. [volume] (Savannah) 1868-1887, 1886-02-21

yer placedin circulation here would place
us upo a SOUND metallic basis, revive
oar inc us'ries, and put millions of labor
Ing men now out Of employment to work,
giving them bread. Our revenues would
swell although taxes would be lighter per
capita upon the great masses ot the peO-
Pile, because a greater number Of them
would be enabled to pay taxes.
wIPING OUT THE DEBT.
In this way our national debt would
soon se thing OF the past-honest money.
mat idea Of issuing paper legal tenders Of
any sort was dangerous theory to them.
II they are sincere and honest in their
convictions, then they should join with
those who favor the restoration of silver,
and demand that such paper circulation
snail give way 70 the unlimited use Of sill
yer and gold. The report goes on to dis
cuss the possibility OF q silver supply
being discovered by which 5000, ,000,0 0UO Of
silver would be dumped down upon the
United States, and our S600, 900, 900 Of gold
displaced and dumped down in European
counties, and concIudes that such an
occurrence would be great relief to both
hemispReres.
THE RESULT.
The result, it says. would be an increase
in the monetary supply in European coun-
tries of gold that would set the machines
OF industry in motion. The national debt
ought to go, ana with 1t. II necessary, the
bank note. Let silver and the silver GER
tidcate take the place OF national bonds
and bank notes. We will thus substitute
good money tor bad, and rid ourselves
OF an interest-bearlng debt, debt
over which all this controversy arises, a
debt, the manipulation of which has cost
us half billion of dollars. 1t is at the
bottom of all our financial tricks and
monetary legerdemain, constant source
Of corrupt legislation and downright
swindling. With TINS debt, and the banks
on top of II, out of the way, the money Of
the constitution will return to bless US.
NO FAIR PLAY FOR SILVER.
II the mints OF the country were open
to silver the same a TO gold, silver would
not be as it is now, subject 10 the adverse
whims of Treasury officials who hereto
fore have tried how to keep it out Of eir-
culation. The minority quotes from the
tables presented by the United States
silver commission report for 1877 TO snow
that over 100, 100000 people have adopted
silver as the sole standard of money,
and over 1S0,000,000 have the
double standard of gold and silver,
thus constituting a total Of more than
900,000,0OO who use silver as standard
money, while only 92,S00,000 have the
single gold standard. The report then
proceeds TO discussion OF the proposition
made by some bi-metalIists to coin silver
at its bullion value, and holds that it is
not Justice to the debtor class that the
government should by its laws tirst de-
preciate silver and then take advantage
OF It's own wrong by coming it at the ratio
Of this depreciation.
BURDENING DEBTORS.
1t presents table to show that this
proposition it carried out would add over
81, 43S, ,000, 900 to the burden Of the debtor
class. la conclusion the report says;
The most important function OF money
in modern trade and commerce is its legal
tender power. If goId only is legal tender
then debtors must depend upon this one
metal TO pay the debts. All the silver
and other products of ChristendOm, ex-
cept gold, would not pay dollar Of debt
unless they could be exchanged for gold.
Should the world come to a gold unit as
the sole legal tender that metal might be-
come so valuable as compared with other
commodities, and so scarce in proper
tion to the enormous demands
made upon it that the many
barOns of this and other countries
controlling few hundred millions of gold
might control the destinies of nations and
absolutely dominate the welfare of man.
kind. Believing that silver is a logical
solution of the silver question, and since
gold and silver seem TO have been the
constitutional money intended for the use
of the States in adjusting their legal ten
der laws, and for other reasons herein
stated and yet others that might be urged
for restoring silver to where it was before
it was demonetized by the act of 1873, we
recommend the passage of the House bill
No. $500, which aims at that result.