The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1893-05-06
AHEAD!

A dispatch from the mining u'9'i1'"
of Oregon says that late discoveries oi
cold in that state are so very rich n a
men are taking out from $500 TO S2'ooo
mar day. The dispatch further says
hat the more the mines are developed
tbe richer do they become.
This news suggests an alarming pros
pect for the poor creditor classes, the
in New England Savings
Banks, bondholders and coupon clippers
in general.
Wages in the mining districts do not
exceed $3.50 per day. Hence, it now
costs only fifteen cents or less to mine a
dollars worth of gold.
This condition of things brings us
right down to a nasty, cheap, fifteen
cent gold dollar.
What is to be done? Many contracts
in this country, in view of the danger of
u cheap silver dollar, have been made
payable in gold. Unless the government
shall at once take steps to protect the
poor creditors who hold these contracts,
ruin, red, bloody ruin stares them in the
face; aye, and misses at them!
Why just think of it, Here is a man
who holds a bond for $4,000. The bond
is payable in gold. Its value goes down
to 81 500. Here is a woman who has
deposited 81 900 in a savings bank. How
long will it be, unless the government
shall demonitize gold ard stop coming
cheap fifteen cent gold dollars, until that
woman's deposites are worth but $15Of
Oh, to what a bloody old pass are we
coming2 Just think of 1t and grit YOU
teeth, for its full of the glittering sand
of hardship! A debtor can so to the
Oregon gold fields work a month, take
out $4,000 grains of gold and under oul
ruinous coinage law take it to the mint
and have it coined into $13 900.
But would they be dollars? All, that's
the question.
We are told taat the present silver
dollar is only really a 66 cent dollar, be-
cause it costs 66 cents to mine the silver
that is in one of them. Then If a silver
dollar, the metal in which only costs 60
cents is worth but GO cents, it stands &c
reason that a gold dollar which only cost
Is cents to produce is worth but Is cents
-'drein glass lager"
However, this thing a be and ought
to be adjusted. The credit of the coun
try demands it. We can by no means
afford to use a debased currency. A
debased metal currency is no less calam-
itous than a debased paper currency.
We must have an honest dollar If it
takes all the gold in the United States
to make n
However, the difficulty might be adj
justed in this wise. Take the gold that
was coined before the discovery of this
cheap Oregon gold as the standard.
Then put enough silver into the silver
dollar to make it the actual market value
of the old gold dollar, say 500 grains.
Then readjust the gold dollar under the
Oregon cheap gold scale SO as to bring
it up to the value of the silver dollar.
This would make a gold dollar of about
40 grains and we would then have a
sound and stable currency, an honest
dollar, the credit of the government
would be saved and the monetary goose
would hang as high as u of the fixed
stars. See?
Either this must be done or gold must
be demonetized. John Sherman, where
are your Little B~lack-and-tan IIarter
why are you silent now? Fairchild,
Knox, Warner, Hendrickson-all, all ye
valiant warriors and advocates of an
"honest dollar" why don't you shake
off your lethargy and spring nimbly to
the defense of a sound currency and the
nations credit?
Call together the big bugs of finance,
and bring in your wise owls of domestic
economy. Summon Our great men
home from lettering around the peanut
stands of the Worlds Fair, and let us
all counsel as to what is best to be done
to avert the coming ruin and saw the
country from the evils of a nasty cheap
fifteen cent gold dollar
Awake We mighty onesl
awake, arise, or be forever falpn!"