The advocate and Topeka tribune., 1893-08-09

bi-metRlliC or mono-metRllic standard,
my own views are sufficiently indicated
in the remarks | have made believe
the struggle now going on for single
gold standard would, il successful, prove
disastrous to the world. The destruc-
ton or silver as money, and establishing
gold Rs the sole unit OF value, must have
a ruinous effect on all forms Of property
except those investments which yield O
fixed return in money These would be-
enormously enhanced IN value and would
gain disproportionate and unfair ad-
vantage over every other species OF prop
erty. Ii, as the most reliable statistics
affirm, there are nearly 500 0O0,000,O00
of coin or bullion in the world, very
nearly equally divided between gold and
silver, it is impossible to strike silver out
OF existencs as money without results
which will prove distressing to millions
and utterly disastrous to tens OF thou
sands" ARHin, he said: "I believe gold
and silver to be the money OF the consti-
tuition; indeed, the money Of the Ameri-
can people, which the great organic law
recognized ss quite independent of it's
own existence. No power was conferred
on congress to declare either metal
should not be money Congress has,
therefore, in my judgment, no power to
demonetize either. If, therefore, silver
has been demonetizsd, | am in favor Of
remonetizinp it. II it's coinage has been
prohibited, | am in favor of ordering it
to be resumed. / Rm in favor OF having
it enlarged" And
WHEREAS. The present secretary Of the
treasury, Hon. John G. Carlisle, on the
floor of the house OF representatives,
February q, 1873, said: II know that
the worlds stock OF precious metals is
none too large and / see no reason to
Rpprshend that it will ever become 30.
Mankind will be fortunate indeed il the
annual production Of gold and silver coin
shall keep pace with the annual increase
Of population, commerce and industry.
According to my views Of the subject the
conspiracy which seems to have been
formed here and in Europe to destroy, by
legislation and otherwise, from three
sevenths to one-hRlf Of the metallic
money Of the world is the most gigantic
crime of this or any other age. The con-
summation OF such scheme would ulCi-
mately entail more misery upon the
human race than all the wars, pesti-
lences and fRmines that ever occurred in
the history OF the world. The absolute
and instantaneous destruction Of half the
entire movable property OF the world. in
Guiding houses. ships, railroads and all
other appliances for carrying on COM
merce, while it would be felt more sensi-
bly, at the moment, would not produce
anything like the prolonged distress and
disorgRnizati n of society that must in-
evitably result from the permanent an
Inhalation of the metallic money in the
world" And
WHEREAS, Senator John Sherman, Of
Ohio, who, more than any other msn ia re-
sponsible for the demonstration of silver
clearly understood the consequences Of
shrinking the currency below the legitl
mate demands Of the business OF the
country, as evidenced by what he said
in the senate in 1869. o-wit: "rhe con-
traction OF the currency is far more dis
tressing operation than senators sup
pose Our own and other nations have
gohe through that operation before. 1t
is not possible to take that voyage with
out the severest distress. To any per-
son except a capitalist or q sslsrisd
officer it is period of loss and distress
and disaster. 1t means the ruin Of ell
dealers whose debts are twice their busi-
ness capital, though one-third less than
their actual property. 1t means the fall
Of all agricultural productions without
any great reduction of taxes What
prudent man would dare to build a
house, a railroad, a factory or a barn
with this certain fact before him ?"
Therefore, in view Of all these facts
we declare:
l. That there must be no compromise