The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1893-08-12

other words bought bonds at an enor-
nous discount, thus enormously in
creasing the burthen of debt. But even
then the people were able to bear the
unjust burden and the shylocks saw an
other opportunity of further expressing
the debtors by increasing The value of
gold. This was accomplished,i not by
absolute corruption of Congress, at least
by stealth, in 1878 when silver coinage
was suspended. Thereby one-half the
money of ultimate redemption of the
world was degraded, made a com modify
and the burthen of debt doubled. This
has been pronounced, and very prop
ery so, the greatest crime of modern
times. The present Secretary of the
Treasury, now using every influence at
his command to perpetuate that in
EQUITY, himself declared in 1878. in the
House of Representatives as follows:
"According to my view of the subject,
the conspiracy which seems to have
been formed here and in Europe to de-
stroy, by legislation and otherwise, from
three -sevenths to one-half the metallic
money of the world. is the most gigan-
tic crime of this or any other age. The
coDsum nation of such scheme would
ultimately entail more misery upon the
human race than all the wars, pestilence
and famine that ever occurred in the
history of the world. The absolute and
instantaneous destruction of half the
entire movable property of the world,
including houses, ships, railroads and
all other appliances for carrying on
commerce, while it would be- felt more
sensibly at the same moment, would not
produce anything like the prolonged
distress and disorganization of society
that must inevitably result from the
permanent annihilation of one-h half the
metallic money of the world"
Did not that fatal day in 1878 mark
the beginning of an era of decay
of civilization for the world ? That
depends upon the results of legislation
by Congress called to convene in ex-
ira session, the assembling of which oc-
cnrred last Monday. If that body is
wise and patriotic enough to disregard
the wishes and dictations of the money
kings of the world, We may be saved
if not, woe unto he future
The splendid civilization which Rome
and Greece achieved eighteen hundred
years ago, was made possible because
for centuries the gold and silver mines
of Greece and Spain had been pouring
their treasures into the Golfers of
those nations. When Rome reached
the climax Of her greatness the coined
money Of the Empire WAS estimated at
nearly So 600, 900, 900. While Greece and
Spain yielded their precious treasures
Rome prospered. When the mines
failed, Rome declined. For nearly ff-
teen hundred years civilization went
back ward. Then. when all the worlds
wealth of coined money had been re-
duced to 1-l2 part of the former sum,
discovered the new world. |
Money began to become more plentiful
and civilization to advance. Mexico,
Peru, Australia and the western States
Of this Union, and last of all new dis
coveries in Africa, have yielded treas
nres until the worlds supply of gold is |
now estimated at $500, ,O0O,O 600 Not
quite, but nearly the same amount of
silver, counting at l6 to l, makes the
worlds present supply Of coined money |
4 little less than Sc, 100000, 900. The ma
tlonal indehtedne of the world is esti
mated at $50, 900, 900, ,o0O-seven times
as much as there is money to pay with.
We are one of the debtor nations. En-
gland, Germany and Holland are our
creditors. What stupendous folly 1t
would be for us to voluntarily double
he amount we owe, by mere act Of
egislation from which we derive no
benefit. This is pre-
,isely what we did when the free coin
.ge of silver was stopped in 1878.
rhis fatal folly the Chief Executive of
he Nation has now called Congress to-
yether to perpetuate. Will he succeed?
lie has behind him all the money power
If Wall street; all the money power of
europe. The Congress just assembled
s confronted with the fact that over two
,undred banks have failed within the
,ast seven months. 1t is confronted
With the fact that, while crops are good
md every physical condition argues
hat we should be enjoying prosperity,
pindles are stopping in New England
Mills, the fires are going out in furnaces
very where, the iron mines In Wiscon-