The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-07-14
Hard Knocks.


The New York Sun, Friday publish
ed the following communication from
Sir Moreton Frewen, an English poll
tician. written from London:
The monetary revolution common
ced by Senator Sherman at Washing
ton in 1873 has eliminated with the
action of the liberal government of
Great Britain yesterday in closing the
minis of India TO silver. l cannot see
what argument is left for the gold
party at Washington.
THAT the party has been in the
habit of referring ON all occasions to
the currency system of the British
empire, as to one worthy eff all ac-
ceptation. how honest was the money
in the empire, the gold sovereign was q
sovereign, the silver legal tender
rupee was a rupee; each would stand
the test of the melting pot; by stro Ike
of the pen all this is changed. The
rupee is at this moment even as your
.6O-cent dollar it is dishonest rupee
and the great liberal party is the party
of dishonest money"
Let US look at what has happened in
the last "a hours. In no country in
the world is the community more in
debt to its local money lenders
(sowkars) than in India. The rupee
is silver coin containing 165 grains
of pure silver. Every man in India
who had contracted a rupee debt, did
il with the knowledge that he could
repay the debt at the rate of 165
grains per rupee, because the minis
were always open to the free coinage
of rupees at that rate.
1.-The minis have now been closed
without word of warning and at the
price of silver announced this evening
(35 pence per ounce) it would require
in any city in India and in any bazaar
in any of those cities, not 165 grains
of silver to buy the rupee, but over
100 grains. The English sovereign con-
tains 113 grains of pure gold. If the
debtor classes were woke up tomorrow
to find that by an act of state they
were required to pay not 113 grains,
but 124 grains. That is exactly what
has taken place by this tampering
with the silver currency of 28O,000.-
900 of our fellow subjects, fellow sub
jects who have NO votes.
'sAnd what does Mr.. Gladstone say
as to this in reply to a question from
Mr.. Everett last night in the house of
commons?'
''In answer to my honorable friend
have to say that all measures altering
or modifying the state of the currency
no doubt may have. or are likely to
have, effects upon pecuniary values,
so far as to influence current values"
at is impossible to criticise the
Gladstone of today. But what are you
going to do about itP''
IF you repeal the Sherman act GER
tainly your '65-cent'dollar will become
a 3O-cent dollar. In other words there
wilt be a premium of 20 per cent on
coinage of standard dollars by enter
prising citizens in the mountain fast
ness of Colorado and their operating
would, think, be safe guarded by
local sympathy. If. on the other hand,
you demODetize silver entirely you
force France to call in her 5-franc cur
rency so. and such contraction
would leave not a bank nor a mort
gage company standing i'll the entire
western hemisphere.
Therefore venture to affirm that
at last we are at the dawn, the crisis
anticipated for over Is years has come.
If you go to open minis at, say to 20.
no doubt the Indian minis would at
once be opened, but venture to say,
with the utmost confidence, that if
your nation opens her minis TO silver
and demonetizes your gold, you would
embark upon such Il sea of national
DrOsperitV as no nation has ever
known. The world is now at the very
parting of the ways, either the rehabi-
litation of silver, and this at once will
be arranged. or an era of universal
greenbackism is at hand. The Afri-
can gold discoveries have come"