The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-08-13
The Swindle in Silver Bullion.


The Ohio iceberg in q speech in
Cincinnati recently, in allusion to the
silver question said it was one (which
touches the pockets Of all business
men,"
There are no two men in the Unit.
ed States Senate more responsible
for the the swjndle in silver bullion
than the iceberg of Ohio and his pro-
totype in Iowa, Mr.. Allison. When
either John Sherman or VIM. Is. AL
lison direct attention to the Bullion
Purchase Swindle enacted into law
by the republican party, under their
leadership, and approve by President
Harrison, they are right in the state
ment that it touched the pockets Of
business men. Although the swim
die seemed to be an outcast and dis
owned, yet it is the legitimate child
and offspring of republican legisla-
lation.
The measure was the pet of the adj
ministration, conducted By Sherman,
Allison & Co., in company with q
clique Of Wall street spectators in
silver bullion, whereby the coinage
of silver as money is discontinued,
and money paid int the United
States Treasury by business men and
taxpayers is taken out to pay the
profits Of these spectators in silver
bullion. When bullion declines in
price u cent an ounce, the speculator
proceeds to load up with the lucre,
and when it advances a cent an
ounce in price, he unloads on the
treasury for legal tender certificates
Of deposit, which he exchanges for
gold at neighboring treasury win
dow, and is ready for new deal at
the expense of business men and the
tax payers.
This is not finance. 1t is larceny
and fraud, and the republican party
is alone responsible for 1t and must
meet the responsibility. 1t must ac-
count to to the people Of the United
States for method Of encouraging and
promoting larceny by legislation.
Let the promoters of this wicked
system of robbery Of the peoples
treasury tell what they meant to ef-
feet by adopting system Of specula-
tive legal tender warehouse receipts
for silver bullion as . commercial
commodity It devolves upon the
Republican party to show wherein
this scheme of specializing in demone-
tizei silver has benefited anyone
except spectators and the conspira-
cy Of public plunderers for whose
benefit it was enacted.
Firms and syndicates, corporations
and trusts are formed for every con-
ceivable purpose. A very few Of
those great combines virtually con.
troll the United States, and those who
hold the purse strings Of q nation
have it's people at their mercy.
The vast and complicated system
of credit that exists in this country
has the effect to concede in q meas.
ure the scarcity Of money, and there
fore the prices are not SO immediate.
ly affected by increasing the value Of
money rs they would be were all
commodities exchanged only for spot
cash. But for oil this, the principle
is a sound one that larger volume
Of money would sustain larger vol
ume OF credit and we attain better
prices.
The delnonetizing Of one of the
coins or stopping its coinage, both II
effect alike increases the purchasing
power of what remains.
Therefore, ifmoney is rising il
value, the borrower or other debtor
must pay dollars more valuable thar
the dollars he agreed to pay. HI
who is engaged in productive indus
try must meet his payments out o
the commodities he produces. II tn,