The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1890-01-09

month has sustained the gold price |
Of silver twenty-five per ounce, would
not doubling its coinage, as Is called
for by this resolution, raise the price
Of silver?
This resolution aims at two things:
First, to show that the full and fair
use OF the remonetizing act OF 1873
would increase the value OF silver
bullion and thereby all other com
modities, and set ut rest many Of the
accepted fallacies in regard to silver,
which no Secretary Of the Treasury
has ever tried to do. Second, by Civ
ing at once much needed addition
to our currency. 1t certainly can do
no harm to try the experiment Of
coming $4,OOO,O 900 silver dollars per
month for 50 laudable purpose. But
even this increased coinage OF silver
would not give us all the currency we
need 1t will only make q net addit-
ion of about $l,OOO,OOO per month
after allowing for the present rate Of
reduction OF national bank currency
(v:z. $4,000, 900 per month";
It is the fashion to say that moth
ing can be done to rehabilitate silver
unless the consent of other nations is
obtained. / believe that an initiatory
step on our part is all that is neces-
sary to re-establish the bi-metalic
standard throughout the world. Such
an increased coinage Of silver in the
United States as is now allowed by
law, il the Secretary Of the Treasury
would only exercise his discretion
sufficiently, would in my opinion
make such revolution as to open
the eyes Of many who now harp on
the necessity of international agree
ments before anything can be done.
In Offering the foregoing resolution
and in giving my ideas on it, do not
intend to be considered as opposed
to free coinage. But ! do think it
more advisable to compel action un-
der the present law as speedily as
possible, and perfect q free coinage
act after the effects Of this increased
coinage had been tested. l submit
this paper to the Convention, desir-
ing only that it shall be fairly con-
sidered, and accepted or rejected as
in its judgement may be most con-
duciye to the results we are aiming
ut. From the day silver was thrown
out OF our minis, your humble ser
want, with the late Thurlow Weed, of
our State, commenced crusade
against the inono-gold standard, I'M
der the full conviction that it would
lead to contraction SO vital as to
make its impress on all pricesof prop
erty. and wickedly disturb the equi-
ties, as between debtor and creditor.
Experience and observation for
more than fifteen years have corrob-
grated the correctness of our views
and our theories.
BY throwing the silver out Of the
category of money into the condition
of merchandise the specie foundation
for all credits and currencies has been
reduced fully one half. That was Y
contraction of 5Oper cent, required
no far sightedness to preceive that
such unheard-of contraction of the
precious metal foundations of all cred
its and currency would be followed
by decline in value Of all properties
approaching SO per cent. This is the
condition of things at the present
day. This is why wheat and other
farm products are worth only two
thirds of what they would have been
had silver remained as money.
This contraction affects the mort
gagor, making him apprehend ap-
preaching bankruptcy, and gives to
the mortgage an undue advantage.
1t gives the creditor an advantage
over the debtor which is so discour-
aging that he feels like becoming a
bankrupt rather than make an effort
to continue on q financial paying
condition.
Therefore say that the demone-
tization Of silver has been and Is q
wicked preference given to the credi
tor over the debtor class of our entire
population, and it is this preference
that is driving our middle classes in
to poverty and enabling Millionaires
to multiply their millions. Nothing
In my opinion will save our people
from social revolution, 80 surely az
the full reconciliation of silver, and
giving it all the advantages we now
give to gold, both in law and in the
ruling Of our Treasury Department.
In short the lnono-gold standard Is
a stepping stone to anarchy-nay, it
is more-it is a flight OF stairs leading
to the chamber of horrors-bank-
ruptcy, panics, suicides, Reputation,
agrarianisln, and universal poverty
among all real wealth producers, for
whose welfare the best minds, the
best craftsmanship, and the best rep
resentatives Of all legitimate business
| interests should ever he enlisted.
Does Experience Count
1t does, in every line of business,
and especially in compromising and
preparing medicines. This is illus.
trated In the great superiority Of
Hoods Sarsaparilla over other prepa.
| rations, as shown by the remarkable
cures it has accomplished.
The head Of the firm of G. l. Hood
& Co. is q thoroughly competent and
experienced pharmacist. having de-