The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1893-08-12

crease OF business is much greater;
and,
Whereas, The great eXpounder OF
the constitution, Daniel Webster, said;
Gold and silver, at rates fixed by
congress. constitute the legal standard
OF value in this country. and neither
congress nor any state has authority
u establish any other st indard or to
displace that standard" and
Whereas, The Hon. James G.. Blaine,
quoting this utterance. add: "On
the much-vevel and long mo3ted ques-
ton as to n bimeta lie or monome lille
standard, my own views are suf-
ficiently indicated in the remarks
have made. | believe the struggle
now going on in this country and in
other countries for IA single gold stand
ard would, il successful, produce wide
spread disaster in and throughout the
| commercial world. The destruction
of silver as money and establishing
gold us the sole unit of value must
have ruinous effect on all forms OF
property except those investments
which yield fixed return in money.
These would be enormously enhanced
in value and would gain disproporti-
nate and unfair advantage over every
other, species of property. II, Gas the
most reliable statistics affirm, there
| are nearly $1,000. OOO,t0) of coin or
bullion in the world, very unequally
divided between gold and silver, it is
| impossible to strike silver out of eX-
istence as money without results which
will prove distressing to millions and
| utterly disastrous to tens Of thousands;
and.
Whereas. The present secretary of
the treasury. Hon. John G. Carlisle,
on the floor of the house of representa-
tives February II, 1875, sad II know
that the worlds stock of the precious
metals is none too large, and | see no
reason to apprehend that it will ever
become so. Mankind will be for
tunate. indeed, il the annual produc-
ton of gold and silver coin shall keep
pace with the annual increase of pop
ulation. commerce. and industry. Ac-
cording to my views Of the subject the
conspiracy which seems to have been
formed here and in Europe to destroy
by legislation and otherwise form
three-sevenths to one-half of the lne-
tallic money of the world is the most
gigantic cvime Of this or any other age,
and
Whereas. Senator John Sherman of
Ohio, who more than any other man is
responsible for the demonetization of
silver. clearly unde stood the evil con-
sequences of shrinking currency below
the legitimate demand of the business
of the country. as evidenced by what
he said in the senate in lS69--to-wit:
THE contraction of the currency is
far more distressing operation than
senators suppose. Our own and other
nations have gone through that oper-
alton before. 1t is not possible to
take that voyage without the sorest
distress. To every person except a
capitalist ont of debt. or salaried
officer. or annuitant it is a perion of
loss, danger, lassitude of trade. fall of
wages suspension of enterprise, bank
ruptcy and disaster. 1t means ruin of
all dealers whose debts are twice their
business capital, though one third less
than their actual property. 1t means
he fall OF al agrlcui urul production
without any great reduction OF taxes.
What prudent man would dare to
build a house. u railroad. n factory or
II barn with this certain fact before
him?"
Therefore, in view of all these facts,
we declare:
First-That there must be no com
promise of this question. All legisla-
ton denonetizing silver and restrict
ing the coinage thereof must be i'm
mediately and completely repealed by
an act restoring the coinage of the
country To the conditions tablished
by the founders of the nation and
which continued for over eighty years
without complaint from any part of
our people
second-We declare that the only
remedy for our metallic financial
troubles is TO open The minis of the
nation TO gold and silver on equal
terms. at the old ratio of sixteen of
silver to one of gold.
Third -Thst while the SHERMAN
act" OF July IA 1890. was device of
the enemy to prevent the restoration of
.ree coinage, and is greatly objection
able because it continues the practical
exclusion of silver from the minis and
reduces it from money metal to a
commercial commodity, nevertheless,
it's repeal. without the restoration of
Tree coinage. would stop the expansion
of our currency required by our growth
in popula tion and business, widen
still farther the difference between the
two precious metals, thus making
the return 10 DlmelallSin more uln-
cult, greatly increase the purchasing
power of gold. will further break
down the price of the products of the
farmer, the laborer, the IN 'chanic,
md the tradesmen, and plunge i'll
further all commerce, business, and
industry into such depth of wretched-
ness as to endanger peace. order, the
preservation of free institutions. and
the very maintenance of civilization.
We, therefore, in the name of Che re-
public and humanity, protest against
the repeal of the said act of July IA,
so, except by an act restoring free
b metallic coinage as it existed prior
to 1872.
Fourth--We assert that tie unpar J.
leled caiamities which now y tf1ict the
American people are not due to the
,o-callcd Sherman act of 1850. and in
proof thereof we call attention to the
act that tho same evil conditions now
prevail over all the gold st .ndard ma
tions of the orld: we are convinced
that bad as is the state Of affairs in
this country it would have been still