The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1891-06-20
THE GOLD BUGS.

THE GOLD BUGS.
Senator William NJ. Stewart, Of
Nevada, hammers away at the gold
bugs whenever he has an opportu-
nifty. In one of the papers here to-
day, says a late Washington dis
patch, great prominence is given an
article under which is the Senator's
signature. The venerable legislator
from the home of the sage brush
aud alkali plains, says this: "The
gold men admit the product of
the mines is growing less each
year and that it is now insufficient
to keep a good stock of gold on
hand, and that the gold reserves
in Europe are growing less and less
every year, while business and credit
are expanding. l conversed with q
number of leading business men re-
Gently in New York and l met no
man who contended that contin-
ued contraction of the currency
end an expansion of credit would
not bring ruin; nor have I seen one
who suggested a remedy. They SIM
ply told me the gold men will create
panic if anybody interferes with
their scheme Of enhancing the value
of gold. In other words, the world
must submit to them, although it
is admitted their policy will pro-
duce inevitable ruin to the masses.
l suppose it is fact that the gold
men have used the press 80 long
for their purposes and have iterated
and reiterated so constantly that
an increase in the volume of cur
rency would produce panic, par
ticularly if that currency were based
upon silver, that many people look
upon free coinage as an immediate
calamity, while at the same time
acknowledging it to be the only
alternative from inevitable bank
ruptcy and ruin. It is strange so
much stress is placed upon the pre-
dictions of the worshippers of gold
where none of them have heretofore
come true. In 1878, when the Bland
act providing for the purchase OF
not less than 100000 nor more
than $4,000, 900 worth of silver bull.
ion per month for the purpose Of
coinage was passed, the gold press
was unanimous in predicting ii
would drive all the gold out of the
country and produce ruin. This act
was passed over the veto of Presi:
dent Hayes, business was revived
and gold accumulated in the coun.
try. Mr.. Cleveland came into power
in 1884 on free coinage platform
but discovered before he was inaug.
urated that if the Bland act were
not repealed, ruin would come In
three or four months. The Demo.
cratic House of Representatives re-
fused his request to repeal the act.
Ruin did not come, but the gold
reserves increased. Last year, when
the act providing for the purchase
of 50, 100000 ounces of silver bull
ion per annum and issue of treasury
notes thereon was passed, the gold
standard contractionists and all
their organs renewed with increased
emphasis their usual predictions
that gold would leave and the coun-
try would be ruined. The bill was
passed and gold did not leave, and
the country still exists. They now
tell US, as they have told US hereto
fore, that any further use of silver as
money will produce inevitable ruin.
Yet, strange to say, there are people
who still believe in these prophets.
This is an anomaly. False prophets
in other countries have been slain.
Nearly all aboriginal tribes in this
country are in the habit of Staying
their prophets after the third failure
to tell the truth. But the gold proph-
cts appear to have gold enough to
secure exemption from punishment
and by some magic still charm and
deceive their credulous followers. "