The midland journal. (Rising Sun, Md.) 1885-1947, 1893-07-21
Silver.

discussing the silver question in its
bearing on this country says:
eff you repeal the Sherman act
certainly your 80 cent dollar will
become a 30 cent dollar, in other
words there will be a premium of 70
per cent on the coinage of standard
dollars by enterprisipg citizens in
the mountain Businesses of Colorado,
and their operations would, | think,
be sateguarded by local sympathy,
"If on the other hand you demon
etize silver entirely you force France
to call in her FIVE. frank currency
also, and such contraction would
leave not bank or mortgage com
pany standing in the entire western
hemisphere,
therefore, | venture to affirm that
at last we are at the dawn; the crisis
anticipated for fifteen years has
come. If you go to open mints at,
say one to twenty, no doubt the
India 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 a sea of national prosperity as
40 nation has ever known.
THE world is now at the very
parting of the ways; either the
rehabilitation of silver, and that at
once, will be arranged or an era of
universal greenbackism is at hand.
The African gold discoveries have
come too late"
Thus writes man whose official
relations with the Bank of England
has made him familiar with the metal
money of the world and its influence
on the business of the world.
If the $50 million ounces which is
the entire worlds yearly product OF
silver was all gold and the minis
remained open to free coinage, would
any gold maniac of this country
shout late and early that the country
would be ruined if we didn't stop
the coinage; and especially if this
country produced Al per cent of that
gold as we do of the silver !? Can
any of these calamity howlers answer
why the same result would not folio "
if the mints were opened to the coin.
age of all the silver which would be
taken to them =? They dare not even
try to answer this question. Moreton
Frewen answers it by saying the
United States ''would embark upon
such sea of national prosperity as
no nation has ever know" In the
face Of these self evident facts we
find our country bankers, apparently
smitten with lunacy, taking sides
with the English gold gamblers and
debt gamblers of eastern States and
Wal! street. If the country business,
the agricultural business, is depressed
the country banks must suffer to the
same extent AS Mr.. Frewen pre-
diets if the United States entirely
closes its minis against silver coin
age. France will be compelled to draw
in her FIVE frank pisces end such g
wave of contraction would paralyZe
Europe that every debt they hold
against this country, and everything
that coald be converted into money
wonld be sent here and mony for it
demanded at any price. Goods
would be showered onto this country
while a dollar could be found to
exchange for them. Prices would
fail es never known and general
bankruptcy would ensue. Where
then would these country banks, now
bawling in concert with the English
| shyloeks for the total demonetiza-
ton of silver, And themselves? A
reign Of greenbaeks would surely be
established with true government
banks to distribute them a1d every
other class of banks would be wiped
out as clear as whistle.
we aso truly at the parting of the
ways cat last we are at the dawn"
as Moreton Frewen points out.
The majority of bankers have
very erroneous idea of She true func
tions of money. They believe it's
main purpose is to draw usuFy from
the wealth producers. This is clearly
an abuse of money, which is properly
tool of trade and industrial blsi,
ness. When the people come to
fairly understand the proper func,
tons of money this pillaging use to
which it is now put will be broken
up, and it's care and management
relegated to the govern ment. where
it properly belongs.
"Financier" in banking parlance
means a ehrewd fellow who can put
down one dollar end pick up two. A
good comparison is a skillf4l checker
player, who places his men on the
squares in position which enables
him to jump two or three. This is
"fnanceering." No thought of the
relations of money to trade and pro
ductive industry ever enters their
minds. Hence they shout with the
gold gamblers, down Yith silver
welcome the era of contraction aud
lower prices which will in the end
prove their death knell.
-------------->.-----zz.sS.
Last fall was taken with kind or
summer complaint. accompanied with
wonderiul dlarrhea. Soon after my
Wife'S slater ChO lives with nc WAC