Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-07-18

tne b0ule influences, q the
sion Of that coin debt into a gold
debt by the demonstration Of sill
yer, and reducing again by one
third, the facilities for its pay
Misunderstanding at a single blow
more than half Of the coin circu-
lation of the country, and with it
correspondingly reducing the debt
paying power of the people.
It is not only a contraction Of
the coin money of the country,
and at a time when the enormous
elaboration of business demands
even more money, but it is a cur
tailment Of a constitutional right
never before openly suggested,
much less attempted.
And as a potent instrumentality
to this conspiracy for the final
elimination of silver from the cur
rency, a great national party con-
vention resolves that the tax on
state banks shall be removed, to
the end that irresponsible local
banks shall be permitted by state
authority to again invade the realm
Of trade and compete.w with the i'm
perial power of the federal gov
eminent in the issuance of money.
For the power to create money
is imperial in its nature. That
power is especially or by the
strongest inference reserved by
the constitution to the federal
government by denying it to the
states. 1t is thus, in effect, put
beyond the power of congress to
delegate that authority. The pow
er to declare money, or to say
what shall be money, is the high
est element of sovereignty, and
that is of necessity lodged solely
in congress, and cannot be dele
gated to a state or to an indiyid-
ual.
This state bank movement sheds
a food of light upon the silver de-
monetizing conspiracy. Silver is
to be driven from the domain Of
commerce. Goodwill in hat event
become so valuable that it will be
withdrawn utterly from circulation.
With silver already destroyed by
demonstration and denial of coin
age, the business of the country
must of necessity be transacted
mainly if not altogether on blank
paper and the silver coins be re.
placed by the shinplasters of forty
years ago.
With both gold and silver with.
drawn from circulation, the coun
try would go back to the day.
when coin of any and every de
nomination and metal was a rarity
and the people and all public af
fairs became a prey to an irrespon
sible currency bottomed on credit
that would again, sooner or later
require every traveller to FORTH.
himself with a bank note de
tector to avoid begging his wa,
back home.
That is what the demonitaza
ton of silver means-the ultimat
/, and inevitable end Of the conspiT
acy. That is the secret, the en-,
and aim of the fight against silve
as money inaugurated twenty
five years ago, and that has bee.
going on more or less actively
r for now more than twenty years.
1t illustrates the purpose of thi
entire demonetizing scheme-t
= force upon the people the genera
3 use of private bank paper, with a
= its liabilities TO destruction and G
e consequent loss TO the holder an.
/ gain to the maker, and thus sti.
: farther extend and magnify tn
opportunities for corporate specU
lation at the expense of the grea
Q mass Of the people and all our nG
9 tional industries.
t The inevitable if not intende
o effect Of all this is to lower tn
T. price of everything but money
labor as well as product of ever
l character except interest rates %
a to aggrandize money and cheape
= manhood.
The most unwelcome and unac
countable spectacle ever witnesse
t in the manipulation of publ
finances 10 this mischievous end,
n that Of the first officer Of the r,
public, for years openly and bold
j, ly using his great Office for the dc
e basement of the "coin of tn
realm" by refusing to discharg
t public obligation in the none