The silver state. [volume] (Unionville, Nev.) 1870-1903, 1888-02-06

combination with silver and obtained
from silver mines. The stoppage of sill.
yer mining will cut off this supply. The
inevitable result Of the maintenance of the
gold standard is perpetual contraction,
while our population is constantly in.
creasing."
"Do understand you to say that as
the population Of this country increases
system of contraction is constantly going
on?"
"Most assuredly. This is in pursuance
of the cherished policy of the bondhold-
ers. They never have, in any one in
stance, since the war closed, suggested
measure of legislation which did not in
volve contraction. The bonds originally
payable in greenbacks, interest only pay
able in coin, were made payable by the
act of March, 1869, in coin. Over bill
lion of greenbacks were destroyed to re-
sumo specie payments. In 1870, the
funding act provided that the bonds is.
sued hereunder should be paid in coin of
| the then standard value, viz: in dollars
consisting of either % $40 grains of gold,
nine-tenths fine, or 4l25 grains of silver
of the same fneness. The next move of
| the bondholders was to enhance the value
of bonds by destroying silver as money
| and compelling payment in gold alone.
The national bank system is organized on
the principle of contraction. As the bonds
are paid their circulation is being retired,
and if no false or fraudulent legislation
can be obtained to patch up the system,
all the national bank circulation will go
| out of existence upon the payment of
their bonds in very few years. The
system itself is curious one. The Unit.
ed States has hundreds of millions of
greenbacks in circulation drawing no in.
terest. They issued large quantity of
bonds, say between three hundred and
four hundred millions, and sold them for
greenbacks, upon which the government
has since paid interest. John Doe and
Richard Roe, who bought these bonds,
were allowed to deposit them in the
treasury and continue to draw interest
on them. The United States, for the
privilege of keeping these bonds in the
vaults of the treasury without charging a
cent, gave John Doe and Richard Roe
| ninety cents on the dollar of the face val
ne of the bonds, to loan to the people
and make the latter pay ruinous int rest,
The excuse for this proceeding was that
the credit of the government was not
good, and that consequently greenbacks
were not good money, and it was argued
that if the United States could get both
John Doe and Rishard Roe to indorse its
paper we would have sound and reliable
circulating medium"
eff this contraction continues for ten
or twenty years longer, what, in your
opinion, will be the result:''
Universal bankruptcy and ruin. The
symptoms of it are everywhere. Unrest
among the people, paralysis in every
enterprise, cheaper labor, and starvation
and misery, are inevitable, unless
change of policy is Immediately adopted.
"W hat is the remedy"
''Use both money metals-gold anc
silver, stop the contraction, give us more
money per capita. 1t has been reduc ed
more than one-half by contraction
Double it, and do it at once, and you will
have nomore strikes, no more attempts t.
reduce wages to starvation rates. AL
existing enterprises will be revived; new
enterprises of every description will b.
brought into existence; wages will be en-.
HANGED in value and restored to the stan
dard of twelve years ago-before the de-
monetization of silver. Return to the
good old times of high wages. When
labor is we'll paid and the laboring man
is content, prosperity is assured. Plenty
of money; plenty work. Little money;