The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1893-10-18
TWO VIEWS OF GOLD.
Comments ofTwo Senators who Have Since
Changed Their Minds.

NhangCu Ihelr MINUS.
In the United States senate on April |,
1874, Hon. John =. Jones of Nevada said;
"The value of gold is represented by the
average amount Of labor required to pro-
duce it. Its scarcity gives a small quantity
of it great value, so that it is easily trans
ported from place to place. 1t is capable
of division and subdivision, and also of be-
ing reuuited-all without loss. 1t is in
every commercial country made into coins
and stamped by national authority with
certificate as to iineness and weight. 1t is
| flexible and self regulating, and flows by
natural laws wherever the eXigencies of
| trade demand it.
Gold is the articulation of commerce.
| 1t is the most potent agent of civilization.
| 1t is gold that has lifted the nation from
| barbarism. 1t has done more to organize
society, to promote industry and insure its
| rewards, to inspire progress, to encourage
science and the arts than gunpowder,
steam and electricity.
"The use of gold had its origin in the
necessities of mankind. The human heart
is set upon it. 1t will command the proper
services of everybody at all times and in all
places. The necessities which compel its
use are as memorable today us they were in
the beginning, although improved systems
of exchange have diminished the proper
Tomato volume necessary to do the work.
80 exact a measure is it of human effort
that when it is exclusively used rs money
it teaches the very habit of honesty. IT
neither deals in nor tolerates false pre-
lenses 1t cannot lie. 1t keeps its prom.
Uses to rich and poor alike.
"While it has seen human institutions
perish aud human governments crumble
and decay it is itself imperishable. The
gold that was in Solomon's temple pos
sessed the same qualities as the gold dug
today from the sands of Africa. The gold
of California and the gold of Australia are
precisely the same. 1t deties the corrodinG
hand of time and the friction of the ages
1t is the common denominator of values
Ii makes possible the classification of la
Dor and the equitable interchange of com
, modties.
Gold has interviewed in the bargains
made between men since the dawn of civ
ilization. and it has never failed to faith
fully fulfill it's part as the universal agen
and servant Of mankind. But it withdraw
from the companiouship of the bedizeneC
harlot called irredeemable paper money
and says to every people, Danish her befor
you look for my return 1t is the oxygel
in the commercial atmosphere and it's alb
sence produces financial asphyxia."
Senator John j. Ingalls,, in n speech Feb
10, 1878, said
mo people in II great emergency eve
found a faithful ally in gold. 1t is thu
most cowardly of all metals. 1t makes n,
treaty it does not break. 1t has no friend
it does not sooner or later betray.
Armies and navies are not maintained
by gold In times of panic and calamity
shpwreCk and disaster, it becomes TIN
agent and minister of ruin. No nation eve
fought a great war by the aid of gold Oh
the contrary, in the crisis of the creates
peril, it becomes the greatest enemy, NOR
potent than the foe in the field, but whel
the battle is won and peace has been sc
. cured gold reappears and claims the fruit
of victory. In our own civil war it is doubt
full if the gold of New York and Londol
did not work us greater injury than til
powder and lead and iron of the rebels
1T was the most invincible enemy Of tn
public credit. Gold paid no soldier or sail
or 1t refused the national obligations.
was worth most when our fortunes wer
the lowest. Every defeat gave it increases
value. 1t was in open alliance with on
enemies the world over, and all it's energie
were evoked for our destruction.
But as usual, when danger had bee
T. averted and the victory secured, gold swae
l. gers to the front and asserts the supremacy.