The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1889-12-27
THE sAMgoLD QUESTION.

And now, then. we are told by The dis.
patches that ths silver men In Washington
viii not support WINDOWS silver scheme.
Az was stated by the DEMocnAT al the
time bis scheme was made public, the sii.
yer men can not be brought to support II
for Il practically destroys silver as legal
tender circulating medium. A. a matter
Of fact this silver question Is the same old
war between the gold bugs and the great
mass OF the people. The gold bugs want
contraction OF the currency or circuIa-
ting medium Of the country In order that
its purchasing power may be relatively
increased. Money has no absolute yalue.
It's value isonly relative. 70 make mon.
ey scarce Is 20 increase It's purchasing
power. To increase the circulating me
dlum IL TO diminish lis purchasing power.
The creditor Il benefited by contraction
because Il increases the purchasing pow.
or OF his dollars, The debtor IL injured
by contraction because II increases the
purchasing power OF the dollars which he
owes. and, relatively speaking, weaksns
bis ability 10 obtain money. In 1873 the
republican leaders In congress, At the die.
tation Of these bondholders and gold bugs.
passed law demonetlzing silver that Is
destroying Its legal tender quality. II
was done In stealthy way and the people
were not apprixed Of the passage OF the
law until several months after It's passage.
The business and commercial depression
that followed was 40 wide spread and far
reaching In its effects that a eiamor was
set up for a restoration Of silver. The
democrats took the lead In this move
ment, bni they were warned By these re-
publican congressman that financial
panic would follow The reconciliation OF
silver. that gold would al be driven out Of
the country, aud that We would have
nothing left but cheap and deprecated
money TO do the business of the country
Aiih. But the necessities OF the people
were great and the effort TO restore silver
was kept up until Il eliminated In the pas
sage Of the Bland bin In 1875 which pro-
vided that government should purchase sill
yer bullion from time TO time and coin not
less than two millions nor more than four
millions per month. Al the time OF the
Passage OF this act S7z to $93 in silver
were necessary TO purchase Sac In gold.
But since the law went into operation sil-
yer dollars have circulated by the side Of
geld without any evil effects 10 either cur
rency. Unfortunately for the merits Of
silver we have not had secretary Of the
treasury who was in anv wise friendly 10
Il. and no attempton The part Of the treas.
ury department has ever been made 10
treat II fairly and put II Ia ciculation
either by republican or democratic off,
clais. The bond holders are largely In
hnsnilal 10 this attempt TO destroy silver
As q circulating medium, for the reason,
that. Al matter of Law, their bonds are
redeemable In the legal tender coin in use
when the bonds were issued under the re.
funding scheme, and they fear they may
be compelled to take silver dollars in pay
ment for their bonds. But the sentiment
OF the country Is largely Ia favor of the
use of silver and windom's schsme will
fall 10 the ground and be almost forgotten
In few weeks. People are not TO be
freish,easd into giving up silver on the
ground that It's continued coinage will
drive gold out of our markets into foreign
ones. fer they have seen that matter test
ed. Silver Is al right.