The state herald., 1892-04-15

change serious than regulating The petty d.tas 81
mint management has proved to be an act Of mon,ent-
consequences the people Of this country This
the act that demonered the silver dollar, which ii
aid by merely keeping that amount from the enumcra
lion oi the coins oil the United States. Il appears to
have been prcconceried arrangement between tho
bondhoders Of England and Germany and the bankers
Of Wall Street. Ii is claimed that in Congress
except Senator Sherman In the Senate, and Mr..
Hpopet IN the House Of Representatives, and MIR.
John j. Knox, who drew the bill, was aware that
silver was 70 be dsmoncsed by this act 1t Is certain
that most hf ih- leading nsihbete 81 both lpusfs hf
Congress and the President Of the United States have
declared since that they aware of the fact
such measure would never have received their
tlon. Up to that time everybody possessed the right
dard coins, which legal tenders for taxes debts
and all other obligations What reason was there for
depiving the people. Of this rghtf There was very
little gold silver in circulation Mt that time. The
legal tender note in circulation in The Northern States
at tic close oil the War wal abeu, sI,os5, ,,ooosn
exclusive Of the amount OF government Indebtedness,
represented by paper In varons forms. The population
Of the Northern States at that time about as ooo-
600. The per capita Of legal tender money more
than $40. The money in circulation in the Norh was
soon distributed over the Southern States, being
divided among 36,oocIooo instead Of ps,ooo,eoo. In
1869 the volume ~as reduced 10 less that s'ooroo ooo
and the population had increased to the per
capita being reduced to sI4 Prices fell in proportion.
The cause assigned overproduetion The people
that tho whole 'ha lcetease
IN ,ls Volume Of currency, The volume of paper money
was rapidly contracted from 1905 to 1873, but both
gold and silver then legal money, and had the
right to fall back upon the metals the ratio OF
10 to for money supply and every dollar Of the
debts If not payable in legal tender, payable in
either gold silver coin at the option Of the debtor.
Notwithstanding the general belief among the people
nj the close Of the wat that the deb, payable in
gteenbatks, the talue o gold was incteased by in
ereasing its use as money-a the time that It's
production ellon. When silver in the United States
demonetized, neither Germany, lialr, Holland, Nor
way. Sweden, Denmaih aol this coultly iised gold,
out since is73 all Of these countries adopted the gold
standard. and in ten years these countries took n'
Of gold, that the gold then in
divided among more than twice sa riany people as
Used gold ID 1873 while tie production decreased from
NSS.ooo,ooo to stoSooo,ooo The population Of the
world is increasing more rapidly than ever There is
no prospect Of an increase in the supply OF gold Wha,
other result is possible than for gold to increase In
value and the prces to decrcaSo III. motive 'cr ih-
decentralization of siVt' Hat The same that previously
lh.pAed the decentralization Of gold One OF the metals
was to be demonetized. and silver promised the
greatest abundance. and which would contribute
Largely to maintain an equitable level, was selected.
The motive was 10 agerandre the privileged class,
the inenWe and cisd'ot class u tht inone, AID 81
me.,ns OF subtle and sinister manipulation Of the
money volume. whose effects II is easy to
their true cause and practically confseaic the hard.
earned money Of the masses. To all intcnts and pur
poses the design TO establish system Of bondage
by which the debtor classes should be the victims to
handicap every wage ~orktf the hrawn and bfain and
musrle which would otherwise have engaged in enter
piise ior the h,rthei atyane.eh, 9i eysy interest in
the snunlT. INT brt has f,la,ded The pfosptliy oi
ihe country to degree that no man can estimate.
There prrense that there any difficulty in
maintaining the parity between the metals Of the
established ratio. Europe did not adopt sold stand
ard until she was the principal creditor nation. Her
forges splndlss and looms wrrp ready to suppy The
manuisrinf-s ~ III The world and th. sa- that MI
countries wuud be compelled to pour their treasures
into hcf lap. Her income and creditor class arc In
daily receipt Of uneaned increment their wealth
by reason of that Decentralization.
II Is not disputed, but i is universally admitted that
since the demonetifa ion ot SILVER the prices ei ali
articles entering into tie general consumption among
the people has been steadily falling. Think Of a great
government, which boasts u being the best earth,
specializing oil % the industries and hard earnings Of
the sbo,ng elasa lhbk Of is buying s54 10000 in
iivei ard charging the mintt profit NJ om 10 10 80
Pc cent, lhinS q 'hat same g9ter9nsn' n,,ri''f
and Acethng The values II all the productions Of the
county. There is an opinion that gold constitutes
fixed and unSaynR standard OF value. and 'ia, what.
ever change may take place " ian Is al commodities,
| gold vii acscl change, common notion. even
among intelligent people. that the value Of gold 4,
intrinsic. There is opnen that the silver prodaccrS
are more interested in the price Of silver than other
classes OF or population. SILVER Is not affected
than the production OF the SOIL The cry for relief
comes from the farmer the artisans, the aboTug class
the entcfprsinl, Thoughtful Of all classes. Il Is they
who haNs 90 bsa' 'hs .-artlu's - NJ. -ysief -hch
ia' iaa .ed. ID j. from the proceeds from their labor
that the cxtofiion has been paid. The creditors at
tempt brush aside the equities involved hy sneerng
the dchtur ID is through deb, that the mafyelous
Developments Of the Nns,ceuth Century llyi i1hfpn
have horn ciieliei. WIZ ere the ".h,cis U the
fnI"'fN llA lien q cuftTpusc, Ni tncrEY, OF tkii,
q industry Of foresight, OF calculation and q daring
In the ranks of the debtor will he found large pre-
p0ndemncc in tie constructive sncy oi every ooun.
~. lhc debtors the uphulldef- Of the national
wealth and prosperity. They the men Of initiative.
the men who conceive plans and set On foot enter
| pfis.s. They are those who, by borrowing money,
enrich the community. They the htsy, restless,
moving ,lifuug whom you viii find IN all vals oi HE
| 10 ih1 Cuunry-he ygoguus, the sffonf, 'he ur.
daupri. These nen tie susiniutd Ia iheif soi,s ty
| 10, hope and belief That iheii laois Will Be crowned
l fA llfaFHstv IuiI uuA a AZ
u-' soiss ,ht poNtsi u al the Incentives u,
material dtstlopHent.
has los, none Of is purchasing power. wiih iia%
| grains oi silver to-day uneolusd and shorn by hostile
legislation ol IL p'ineipa ,lymsn, Of value. the money
| nse. would buy na5h 4ilis grains q silscr in
| gfainS Il silver would buy almost sy1cty the same
amount ef wheat, corr bssi. PORK, butter sugar and
uihti epmmudliies Wi enter into The dhiiy eunsump
on. H. then, slstl has ALLEN, Il has not Ia relation
70 wheat, corn, any u the products usniiohed,
IN It7l coined stltef dollar II 1i'l4 gians wdull
boy hte ann tlfd rounds ct cotton; today 4tsh
.fains of unculnsi silver would bay twenty potraz a
epun. From this. appears that slysr has not fallen
relatively 20 ouiion the great staple Of universal use,
but that, On the contrary, Il has advanced In its
pufgh1,ing power. In order 70 present the question
| irom AnUihsr point u siev, submit some hgues.
showing the number Of gans q silver that arc Al pres
snt required aud lr number which were required In
s7l % buy Luihd Of wheat, lushcl q CON- etc,
W Nhie l. viii mote clearly appear that silver has not
| ALLEN IN Ndrs ~ fsapeei 70 eommodiuss.
IN lNVN tNNk fNlnh ~ tllNfl 20 hnl Nthfl
sacail In i62o tfq grus corn In itll az gain, IN
Gjo gig grahs sugar (ftntd), prr pound, ilfty-two
gains in s5J and hiry nine gains in il9i cotton
Per p7und, n ,gIl, u grain, Ia Isls ,weniy.iont
grains Silver, ulcICiorr, has no, fallen, bnt risen In
value In ts relation wheat. corn, sugar and cotton
These comparisons might be continued With the same
result % to great majority ofthe siteles entering into
general use. The phiass, tlr iA ol SILVER u the
Ingenious and cunning Invention by which ii i sought
cast that metal the dsefed u depreciation rather
than to subject gold TO The suspicion u any change
IL L. Naa. .HtA that
hiss iallrn,
pound ui cotton In isTg COS, ,he purchaser IN gold
o. silver 10 elts pound. and to-day u Nil lfing
only cents in gold o. about cents In silver bullion
pound ui cheese that cost the purchaser IN IsT9 -
eents gold silver bflngs o. cents IN silv,f
bullion, and will only lTing geuis In gold The ad'
farmers manufacturers. Who have 20 pay ~ com
noditita premium II " to 20 PEI cent on gold 70
meet ihsir engagements, bat rspr-ss anNe'y a, the
possibility that few impuirn mlsht have 70 pay
small premium. They insist that the money
system ui population nf IS. .o1pl shall Ike an In
Stfisd pyramid, II made to ret upon u apex In
order 20 enable few Importer, musi q Shom SIC
fsidcuis q foreign cauuift, 10 make their payment.
alrund IN gold II cuiiou planter IN 1873 owed
siooao. be- coaIdth have paid silh to.g7s pounds
II cotton t1dly. by reason ni The ineieassd com.
mand which gold hit over oomm0dlru. twould take
illslo pounds u cotton to pay that fioo1 notshh.
standing that the MONEY ~ Shah lc debtor has paid
the Interest has each ynf become MOTE valuable than
d was AZ the time he ronaeiri 90 Tay Il. The iarmst
II ths NurthNcsi Who, ~ i27i, ovid gl1,o11, could
then have paid Il With lTll hnhrls u shtHi to-day
i would rrlufr tn,sso hu,bcls 10 iludsto the debt
o.. he could have Iald, III igjl. hs dth With ,soo
haucls Of Hour 10 day Il would take situ1 iausls II
Hour 10 pay the same dslt The property q The
country i last passing Into the bands u the creditors,
and " the system "a not reversed the cuudiica " Tie
Amrfiran farmers viii hs that Of thr farmers q the
gold standard cuuuuiet, Instead n owning Their
iafns they Will BE- tenants and rent raytn. Accord.
log TO the report II the Dhsciaf 0f The NiEt. the syef
produced IN the Unlisd SiHist ifum iaY 20 HaA, In
elusive, was 4eoain.1ol ouncrs. According 10 the
anihoflty The Commercial value n that silver
fi1, 1,sfoool, the ouinags value being fiis,s,ooa,
ddrrrnes u ~ Bgf sao, The present annual prsdud
of silver in the United Staiei u about 600 o1D,
ounces the coined value q which ~ouid be fJsoa,'
nso the commodity value u which Il f4,pso,pao, ~
loss 10 The silver producer II sltfco.psn-in other
words the Eurrnmtni of the tnitsd States not .aiis
6ed With decreasing tc lfuipt, " ,he lrmsr and The
artisan, takes fat0uusll Which tghtluy hslonga 10
the silver tfudae-n u tht country.
The pes uf cotton IN afi in gold OF silver, was y
cents In ftYs II a y cents THEREFOR the valuf o.
ihe cotton cup The pfes In itJi vonld be f7s7o..
ooI inisJs .ltgoo 900, ofa los In one year 10 The
tailon planters 81 ths South N ftH1ouno9 SO that.
n tha sitsf minrfn afn 60 BE- tAunfsd with htfns a