The midland journal. (Rising Sun, Md.) 1885-1947, 1890-01-31
si.oo YEAR, IN ADVANCE.
Friday. Jan. 81, 1890.
"The Silver Problem"

state it IN one of its issues last week, and
then answers its statement from the mouth
of the gold bugs, which have been giving
the same false answer for the last 20 years.
The sum and substance of the Lsdger's an
swes is that the silver miners want the gov
eminent to remonetize silver in order to
make their business more profitable by ad :
vancing the intrinsic value of the metal. II
the Ledger or ''any other man" will state the
question thus, 1.-THE Gold Problem" de.
monetize gold and the same questions will
require the same identical answers. 1t is
estimated by financial statisticians that
there is 100000 tons of gold coin in the
world used as money, serve that gold the
same as SILVER has been treated. Let Eng
land and all the European governments
demonetize it, and use silver as the money
metal only. And what would the gold sell
for? Not so cents on the present dollars
worth. 1t is the government "fat" which
gives both metals their money value. Oar
silver dollar is the proof Of this. The
Treasurer purchases an ounce of coin silver
to-day for p cents. 1t is stamped and to-
morrow it will purchase as much goods in
the United States or any silver money
country as gold dollar, and no man will
exchange it for penny less with his neigh
Dor for gold dollar.
When Cortez was about to sail for Mexico
he said his sword was golden blade, and to
prove his boast, drew it from the scabbard,
and waving it over his head declared that
what is worth gold is gold" The govern
ment of the U. s. verifes the truth of the
Spaniard's bravado, by making the silver
dollar in its dominions worth as much as a
gold one, by the stamp of die, and sixty
millions of people ratify the decree by their
daily acts in every line of business.
When the present government debt was
created, the bonds were exchanged for green
backs, dollar for dollar. Those greenbacks
then were worth fifty 10 one hundred, and
Fart of the time as much as two hundred
per cent less than gold. When the war was
ended and the immense resources and un-
equaled enterprise of the people of the
country raised the credit of the nation
equal to, and above the first nations on the
globe. the gold ring of Europe and the
United States came to Congress and said you
ought to make this debt payable in gold
the interest was already payable in gold.
Congress went so far as to make the debt
payable in coin. The gold ring failing 10
make the debt payable in gold alone, in
1878 effected the same result by candestine
movement in having silver demonetized,
and every Secretary of the Treasury has
stood in with that gold ring doing all that
was possible to discredit silver.
When gold mining in California threat
ened to make gold so plentiful that the gold
money of the world would become much
less valuable BY the increasing quantity Of
that metal, France sent a commission to
California to make an examination of the
situation. After spending seyera! months
in the mining regions, the commission re-
turned and reported that they did not think
the great increase of gold would continue,
after the placer-mines were exhausted, and
the movement to demonetiZe gold was aban-
doned, and the movement to demonetizt sill
yer was next started and carried out. And
why was this? Simply to cut off one half
the money metal of the world, make money
Scarce and the debts which capitalists held
more valuable. This sane crafty gold ring
holds in its hands % thousand millions Of
the government debts of the nations oil
Europe and America-and dear knows
what fabulous sums of municipal debt in
addition-which debt is worth twice as
much to the holders as it would be if silver
and gold were both money metals through.
out Europe and America. On account OF
silver being demonetized, this gold debt
holding ring is drawing twice as much prop.
erty from the producing classes by their in.
terest, as they could, if silver was accorded
the same consideration as gold.
This gold party, to emphasize their pro-
test against silver and startle the country
pumpkins, tell them how many tons of sill
ver-useless silver dollars-are bursting the
government vaults, but they never mention
that there are also stored in these monster
money vaults more than 600 tons of gold
which is keeping the much abused silver
company. The whole subject in nut shell
is the people do not care continental fol
silver or gold as such, but they do wan
more money in circulation, and rs the doc
tors of finance say that no currency is SOUND
that has not specie basis, the people who
earn and create produce by their toll, say
make all of the precious metals both silver
and gold, The basis of circulation, and is
sue notes payable il this coin if anybody
wants it-which in point of fact nobod,
does-so that money being plentiful we will
get more for our produce and be enabled L
pay off these Internal debts that are grind
ing the life out of us and absorbing all W.
earn above the barest living. The produc-
ers of the wealth of this nation don't care i
there isn't dollar of gold or silver in tn,
vaults of the government, if it will ISSUE
notes legal tender for all debts, and in suf
icient amount to transact the business
which would require about $50 per capita
We did this in the sixties and with the GOV
ernments notes conducted the biggest wal
in history, opened railroads through the
desert, inyented more labor saving machines
a.