Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-09-10

these metals together and TO have de-
MED perfect efficiency 20 their functions as
money except as cooperative forces.
Under the double standard, they support
each other. II gold Is scarce and high
silver becomes more abundant; in silver
disappears, gold flows into It's place. The
people who have both 10 rely ON can de-
pend with absolute certainty on the pres
ence at all times Of one Of them-a corner
on both il impossible. II is through this
cooperative action Of the two metals
under the double standard that sufficient
circulation Is assured for the demands Of
trade aud commerce, for living wages to
labor, for fair valuations Ia the transfers
of property. aud a Safeguard Is furnished,
40 far rs human wisdom can devise one,
against crises and pgnics and the loss
aud ruin they entail.
The Capitalization Of capital in tho
hands of a few men N impossible with the
double standard of gold and silver. while
with gold alone q few bunkers aud cap
ilalists become the lords and masters Of
tllo people, as history shows Is the con
diti0n throughout Europe, where the
single gold standard prevails. Gold being
concentrated In value, less In weight aud
bulk, and almost exactly One-hnlf Of the
money Of tho world IL 40 much more
easily handled, possessed, and cornercd
than silver that the great money barons
Of Europe aud their conductors In Amer
lea, designing 10 rule this country as
Europe rs ruled by the power of money,
aud to reduce our people to the sime con
diton Ia which the common people Of
Europe, undor the power Of great
moneycd aristocrucy, now exists, are NOV
ing heaven and earth to destroy silver,
the only visible obstacle which stands in
the way.
II the Sherman act shall be repealed
d..
which shall provide for the free coinage
OF silver, what will become OF the silver
already coined and the bullion now in the
treasury There are Of standard silver
dollars SllB,33J 400, and enough of bull
lion Ia the treasury when coined 10 swell
this amount TO about S0OO,OOO,OOO. Whit
under these circumstances would be the
statue Of this silver2 That with the UNI
conditional repeat nf the sherman act
silver will fall heavily, nobody doubts
The depth to which Ii will tumble must
be a mere matter of conjecture
Producing, Us this country does AZ per
cent Of the silver produced In the world.
It's public sentiment the strongest of that
Of any one Of the great powers of the
Garth in favor Of its equal use with gold
as q money metal It's abandonment by Us
will he Its death lnel 40 far as respects
It's use as money, except IN such suhordn-
ate ways aud such limited quantities as
obtain In all gold.stnndard countries
Our experience since 1878. when the
Bland act was passed as silver has been
hammered down and boycotted by the mt
ticpm banks, by the officers Of the cx-
ccutiyc department Of our government
without regard 10 party, who In every
conceivable way, in the execution of the
laws, have disseminated against and
preJudiced our silver money, ynuld he
worth very little II Il dld not teach "a
That the same arguments and agencies
which atsailed the silver dollar all along
tho line us u was made TO decline, first as
a Ucent dollar, then ~ an S0-ccnt dol
lar, q locout, and o Up-ccnt dollar, down
"a low as silver has fallen. would be used
with ten-iOld greater effect against the
coined silver dollar when It's intrinsic
bullion value has been reduced TO 30, 10
or 30 cents To stop the coinage of sill
yer In the United States is the object of
the present contest, and 10 remove from
our statute book any recognition of II as
money. The success Of recommendation
on this point will be insured by the pas
sage Of the bill for the unconditional re-
peal of the so-culEd sherman act.
Our coined silvec, Uduced to mere
hagatcllc IN intrinsic vhue, compared with
it, legnl value IA q dollar. viii be scolfod
az ~ q dishonest. base deprecated coin,
worthless In itself unless made rcdccmablc
Ia gold, II those who have been able To
bring down silver from premium over
gold, TO It's present deprecated condition
as q commodity, and against the protest
of two-thrds of the American people
shall lass the pending bill abolishing is
coinage, will find no difficulty In getting
rid rf the silver they have succeeded In
making intrinsically worthless,
It Is true that tho legal tendcr quality
aud the dcht.payinp power may preserve
the silver dollar at par; but this will not
prevent its persecution by the Inonomrtnl.
lists, who are bent upon Its destruction,
In order 10 supply it's place with bank
paper. The issuance of bonds TO raise
gold to redeem these discrcdited silver
dollars VIII then be in order; and these
bonds, OF course, will be a basis for The
pcrpctuation Of the national banks, whose
present lease OF life Is nearly exhausted.
The purpose OF the money power Of this
country has been for years past, and Is
now, to make gold and national bank
notes the currency OF the country,
On the 9Th day Of December, 1886 I'd
his report to congress. Daniel Manning.
then secretary OF the treasury Of Mr..
Clevclaud's hrst administration, used this
language
demptiOn ISSUES aud reissues of United
States notes, and the act making com.
pulsory treasury purchases Of silver, ere
each a separate menace TO the public
tranquility, arc each injurious 10 the pub
lic morals, the public faith. and the public
interest"
Secretary Manning slmply reiterated
the recommendations VI his Republican
predecessors. The scheme 60 fund the
United States notes or greeuhacks went
hand In hand with that Of dsmonetiilng
silver.
These notes, 40 embedded IN the con.
hdence and favor Of the people. are too
suggestive Of the supreme excellence Of
a uniform national currency. issued a.
rectly by the government, backed by Its
power and credit, rcdeemnhle at the viii
OF the holder IN coin, as are the United
States notes. not 70 have incurred the
deadly hostility Of the national banking
intcrest currency issued by them.
selves, put out and called In, expanded OF
contracted at thor pleasure. Is the Object
81 their desirc. Control OF all the hscal
anaira OF this government and country
they have Constantly aspired to and hoped
While not mooting the subject 20 any
sre ztcnt ~ the last few ycara the