Los Angeles herald., 1891-06-21
THE PARAMOUNT ISSUE.
SILVER MONEY MUST BE RESTORED
TO THE PEOPLE.
The Gold Bugs Can Not Much Longer
Maintain the Struggle, Ohio Republi-
cans to the Contrary Notwithstanding.

New York, June 20.-The national
executive silver committee was in ses-
sion again today. Senators Jones and
Stewart, of Nevada, were present and
gave the committee the benefit of their
advice. As the result of their delibera-
tions the committee gave out this even
ing an address to the public, in which
they call the attention of the country
to ''the object lesson which is being ex-
hibited in the desperate struggle OF
great financial institutions on both sides
OF the Atlantic to increase their gold
revenues to avoid bankruptcy and ruin,
and that any increase bysone necessarily
diminishes the reserves of the Others"
"Why should such condition OF
things exist" says the address, Sin a
time of profound peace and abundant
harvests? Why should all the great
banking institutions attribute the stag
nation and hard times to the scarcity of
money, while they are exerting all their
powers to make money scarce by adher-
that there is not enough gold to main
vcil bhO OuclACc6 duo CICQlb VI
the commercial world? For eighteen
in the gold standard has been
extended and the production of gold has
fallen off, while the structure Of credit
has been growing proportionately larger
and more insecure until the relation Of
credit to actual money, as disclosed in
the Barings' failure, on the gold STAN
oxd rs ,oxlo Aon olo.. \ L. IL. 4
and started new scramble for gold that
threatens all business undertakings, and
stands as menace to every legitimate
enterprise"
The address further says: "We have
been doing business, paying debts and
distributing our annual products by
money standard that has been growing
dearer and dearer until it has become
fifty per cent. larger than eighteen years
ago when silver was clandestinely de-
monetized. The people are determined
that this injustice shall cease.
The remedy is the restoration of BIZ
metallism. Were it not for the increased
coinage of silver under the act of July,
'91, we could not have stood the drain
of gold that has recently been going on,
without the precipitation of a panic and
the prostration of business. Gold and
silver, without limit, are money by the
constitution, and this money must be
restored Ito the people. This is the par
amount issue in this country and should
be made such in the elections this
year."
The address regrets that the Republi-
can state convention of Ohio practically
declared against the free use OF silver az
money when thew indorsed the act of
congress which treats silver as a COM
modify. 1t says: "The demand for the
free coinage of silver is demand that
silver shall be coined for use as money
not bought as commodity. 1t is
demand that silver itself shall
be money, and be coined in
the same manner for use as it
was for thousands of years before Sher-
man omitted from the mint bill in 1873
the silver dollar. If the silver of the
world cannot be restored to its place as
money to supplement gold, bankruptcy
and ruin are inevitable unless some other
kind of money can be devised to take
the place of both. Let the Ohio
convention take warning that if
silver cannot be remonetized,
gold will be demonetized, and
paper substituted for both gold and sill
yer. The people will not be destroyed
for want of money. The gold trust, by
rejecting one of the precious metals, has
taught how both may be rejected. The
radicalism of the Ohio Republicans for
contraction is in danger of being met by
radicalism for imitation. Platforms in
tended to deceive the voters are insult
ing to intelligent Americans"