Milford chronicle., 1893-10-06

lalneu Dy PROMISES W pay "a uSeAoe9
gold that through no possible means
can be obtained. And yet financiers
regard the condition as a healthy one
healthy for themselves who have
the gold but very depressing to the
masses who have none, and who are
becoming so restive and anxious for
the shining metal that shortly they
will work two days for the dollar
where now they work one. Why
think of the absurdity of establish
ing a sufficient circulation for the
business necessities of this great
Republic upon gold coinage Of
$3.50, 100000. That's all we have
and every other government is in
the same position. Two of our rich
est men could capture all Of our gold
if they would give their property
for it in return, Now there is out
standing $8OO,OOO,OOO. paper pro-
misses to pay in gold, while the gov
ernment has altogether only coin
age of $3.50, 100000. and actually
in the Treasury only s95, 100000.
of the metal itself to pay with. More
than half of these promises, then, are
altogether valueless if their value
depends upon and is secured only by
the coins in which they are based.
It is the wealth of the Nation, the
accumulated labor, that makes them
truly valuable, beyond the fictitious
value of yellow coin.
MoNoMETALLIsM THE POLICY OF THE
RICH.
1t seems like folly, and in an indi-
vidual would be laughable, for the
governments of the world to continue
issuing paper promises to pay in gold
that they cannot by any possibility
obtain, and if obtained would be as
thoroughly useless as any created
substance. It's accepted value is
mainly the result of its passing in
the worldas the medium of exchange.
Remonetize silver and its value rela-
lively with gold will Immediately be
restored. We cannot hope for busi-
ness prosperity through a contrac-
tion of currency. 1t is the interest
of the rich, holding gold, to curtail
the medium of exchange to the one
metal, for its purchasing power will
thus be increased, and where they
now procure one days labor for a
specified sum in the future they will
get more to put aside in productions
Is wealth. But for the poor the po-
3ition is the reverse-each gold coin |
means harder work and greater SER
ritude. Monometallism is undoubt-
IDLY the policy Of the rich, but it is
IS truly detrimental to the poor. III
he rich are entrusted with govern
mental legislation they may belooked
0 to Advance q Cnelr wn interests at
re ne expense of every ~ her e., ana ana the
)oor man need not expect laws fav-
ring his advancement. Senator
Vigfall once remarked in the U. S.
Senate that a man was a fool for be-
ug poor and this is the principle
hat our legislators generally adopt,
nd consequently they heed not the
oily of the poor but listen to the
wisdom of the rich until now the sep
ration of classes is well marked and
,ecoming wider-the poor and the
ich, and the terrible increase in
rime is the result of the desire and
fort of trying to escape the one and
nter the other, the poor struggling
o maintain social equality with the
lch. The rich have greater access
o each other and everywhere they
re seeking advantages and cOmbin-
lg in their own BEHALF They have
ppOrtunities thatnever come to the
oor and the means of purchasing
hat they cannot otherwise obtain.
Iononetallism is the policy that
ffers greatest increase of wealth to
hem at the expense and to the det-
iment of the masses of the people,
nd they are determined to force the
-orld to accept gold alone as the
asis for all money issue. If all ma
ons can be brought to agree the re
nit will be a stable condition Of
nancial affairs favorable to the rich ,
nat nothing but calamity of the
reatest character can ever revoke /
r interfere with. Through the same
lfuence there is developing SEN :
ment in favor of the equalization l
f wages, so that no section or coun- {
y will have advantages over an I
5her in exchange of manufactured
roducts, and the conditions of the /
dustrial, like the financial world,
i'll remain permanently favorable to
le ridh.
BIMETALLIsM FOR AMERICA. e
If Europe adopts a financial pol {
Y favorable to the rich and discrim- p
atino aOainst the peor. it is all the Il