The Caucasian. (Clinton, N.C.) 188?-1913, 1892-11-03
ssEsd Silver Views hs ssY. Pen
aory of 0-egon.


the people Of so great importance -
The restoration II the silver dollar "a
the place assigned it Under the con-
stltntlon aad occupied hE il for more
than eighty wears. - full legal ten
der coin of tie REALM In 1873 il
was demonetlzed BIZ = legislative trick
aud slaec that t4ssc il las been lie
graded from the high place assigned
1t BY beiag denied an equalit, of cein-
age equally with gold. aud bv being
bereft OF lis full legal tender quail
ties. Ahy was this doac:s Simply
to enhance the valuc OF uar govern
ment bonds held BIZ capitalists of
our own country and Eurspe. The
great portion of the national debt at
the close of the war which amounted
TO nearly three billion dollars was
made payable in lawful money" In
1869 aa act was passad by congress
pledging the nation to pay the pub
lie debt, both principal and interest.
iii ''coin or its equivalent" This
added hundreds Of millions to the
wealth OF the bondholders
and to the burdens Of the
taxpayers, In 1870 another change
was made, aud congress stipulated to
pay the debt in "coih of the present
standard yalue" In 1873, rs we have
seen, silver WIS demonehzed. thus
limiting the pay meat of the bonds
III gold alone, again very largely en-
hanc;ng their value. In 1876. when
silver vas partially rehabiliated, the
ylcioos provision was incorporated
III the lar in regard to the silver dol
lars to be coined under il. which WAS
also incorporated in the las of 1890
providing for the issuance of silver
certificates, that they should not be u
legal tender in ease the creditor de-
nlanded q stipulation for gold. As
We have seen, it is fact which can
not be disputed, that providing both
gold and silver be full legal
tender money, the business require
ments of the world demand paper
money in addition. The estimated
worlds supply of 81, 4,300,0 0,000,000 all
YER is supplemented with 50, 100000,
600 paper. 1t makes, rs any one can
readily see, a vast difference TO the
holder. OF securities whether they are
to be p&id in gold and silver or gold
alone. If they are to be paid IN
gold alone, It's comparative scarcity
makes it more valuable, and thereby
enhances the value of their securities
while at the same time it increases
the burden of the taxpayer. From
selfish motives the holders OF secari-
ties are monometallists, and will
probably vote for either one or the
othe; of the monometallst candi-
dates, while from the same motives,
with the additional prompting of
justics and fair play, every other
Yarsoil in the land h euld yoteas ain i
them in order TO restore silver TO the
place assigned it By the trainers OF
the constitution.
Hhe evil consequences Of the de-
monetization Of silver by this and
other countries, b? which the legal
tender money Of the world has been
reduced about one half, can never be
fully measured. A careful exami-
nation OF the great facts of history
lncontestably shows that at periods
and in countries when and where
money is plentiful prosperity follows,
while adversely and retrogression
follow a shrinking of its volume. 1t
shows rs All eminent historian has
asserted, that the fall of the. Roman.
empire was really the result of a de.
cline in the silver and gold mines
of Spain and Greece; that the dimu-
milton of coined money from $l.S00,
100000 at the Christian era to less
than $500, 100000 at the close of the
fifteenth century was,the real cause
of the relapse into semi barbarism
hich occurred during that interval,
ard it has abundantly demonstrated
that in subsequent periods, when
money was plentiful, prosperity fol-
lowed, while in periods when money
became scarce a general decline IN
values, enterprise and progress was
the inevitable result. If this be
true-and it cannot be successfully
controvertcd-how atrocions has
been the crime committed by civil
lied governments, at the beck and
call of the money barons, of dimin-
lshing the volume of money by the
demonetlzation of silver. 1t will not
do TO say that it is sull in use a:
money, for i'll the true and strict
sense it is not money if it has mol
that necessary function of money
a plenary debt-paying attribute. b,
the deprivation of the legal tender
qualities of silver, the volume OF
real money has been vastly reduced
anu not only our own nation but all
! the nations of the civilized worlt
are taking those retrograde st
which eighteen hundred years ag'
first led into the gloomy period OF
the dark ages. This is no fanclfu
assertion. Look where We may anC
we find business pursuits languish
ing and enterprises halting. Wher
should be growth and prosperit
there is stagnation if not decline. 4
late ennmber of the London Financia
News, in alluding to the condition
now existing in that country, said
Eve are sitting, as it were, on th
| edge ofa volcano. Something mus
be done TO relieve the ruinous tension
or IN few months time We shall
wake up to a state of industrial dis
tress in England of appalling an,
perhaps uncomfortable dimensions
/ The widespread strikes in this ceun
try and the increasing army of th
unemployed, resultant on stagna
| ton of business, should awaken u