The weekly intelligencer., 1891-03-28


its production; that is, all the silver of
the world represents all of the labor the
world has expended in the search for
it, and in mining and bringing it to
market. If from any natural cause thls
has deprecated in value it is a misior-
tune. If it has been brought about by
artificial causes such rs legislation 1t is
a blunder amounting almost to crime.
Scattered throughout the world IT
has become convenience to all men,
being used Us standard of value. Ii
| has cost labor very large per cent OF
all of its surplus It's value destroyed,
convenience would require that ii be
substituted by some other money. The
substitute must he of intrinsic value
must represent labor. II must be fur
nished to the world at the cost of labor.
In this country the substitute must
come from the government. The gov
ernment has no other source of revenue
than taxation. All taxes come off of
productive labor at last, whatever of
value is lost in the depreciation of silver
by natural causes on all accumulated
wealth and productive labor alike in
just proportions. Whatever loss is
occasioned by discriminating legisla-
ton, or demonetization, falls upon the
producing classes of the country almost
exclusively.
Fourth-America is the great silver
producing country of the world, and
the United States has within her bor-
ders large deposits of the precious
smetal AS long as silver is money, we
lstand witss &c &c Of being
soriginal rrodncersof permanent wealth.
Shall we aid the non-silver producing
countries of Europe in destroying or
diminishing its valued 8ze.z..
We hear of no considerable party
now in our country which openly adj
vocates the demonetization of silver;
but those who engineered the financial
legislation which limits its coinage,
once did this very thing outright. They
are wise enough to see that the most
certain means of demonetizing silver is
degrading it by limiting its coinage.
Free coinage of silver is only the re-
pealing of laws that have been enacted
against it. 1t will be undoing an in
equality, not creating one.
The money of our country amounts
to about S25 per capita, of this 81 are
gold, 81 .33 silver, and S6.78 paper. The
elimination of national bank and green
back circulation from our money is
consummation greatly to be desired by
all lovers of honest money, not under
the power of legislation to control its
volume. 1t is also necessary that the
volume of currency should not be con-
tracted and the free coinage of silver
and its increased production offers the
readiest and most natural solution of
! the problem. TO demonetize silver
would greatly reducer the volume, and
would increase the purchasing power
of gold dollar enormously and as it is
the only standard of value, stocks and
bonds will increase in value proportion
ally, and as all taxes and interest are
drawn from the productive classes these
will have their burdens increased cor
respondingly.
1t would be the worst kind of class
| legislation. Capitalists all know that
gold will never furnish sufficient vol
ume of circulation. Some other money
will become necessity. There remains
only the National banks, and a perpe-
tuity of our interest-bearing debt as Il
basis for the peoples money, with the
value of currency under control of leg
islation, to be manipulated by our
s'iinanciers. -
The methods of Europe and imperial
governments are quoted againt us, and
in fact we now have the finances of our
republic administered on an imperial
plan. The lovers of a "strong govern
ment' and privileged classes are at
the head of the attempt upon silver,
destroying it by the slow and torturing
process of limited coinage. Underlying
that, rs under the tariff question, is the
contest of the two principles of govern
ment that have been at war since the
birth of civilization-centraliza
which has for its ideal an imperial gov
ernment based on the right to govern,
and the republican ideal, based on the
rights of man.
Legislative interference with the
natural course of trade or finance is
always at the expense of productive
labor. 1t is always suggested by those
who reap personal advantage from it.
In republic such as ours, legislation
should bear with absolute equality on
the rights and interests of every citizen.
There is no other safe rule. This is
the very soul of democracy as it stands
as wall of defense against plutocracy
on the one hand and communism on
the other.
When the people of this land shall
become more thoroughly educated in
the true principles of republican gov
ernment (and believe they are now
becoming more SO than at any other
time in our history they will make the
chief foundation stone of all their polit-
ical faith, until, in all political move
ments, it shall come to pass, that
"Whosoever shall fall on this stone shall
be broken, but on whomsoever it shall
falL it will grind him to powder. "
WILLIAM YOUNG.
Mo Aorob