Evening capital journal. (Salem, Or.) 1888-1893, 1893-03-24
srgOSs PLEA GoR SILVER.

euH9kOu ~ biivef are cOutiuuaily nhfv
Ing about the silver purchase, and every
shipment ofgold 10 Europe, every bank
failure, In fact, everything pertaining te
hard times or the scarcity Of money
was made n text for TRADE against
silver.
Every mopomentallist was called q
great nnancier. Every bImetaIlIst was
dcnomInsted q crank. The leading
string, however, was the gold shipment
70 Europe. II was played for all the
music there was In II, but, when ex-
Secretary Foster said: "Tbe fact is, the
demand for gold 10 perfectly regular; II
h not speculative. II is the natural de-
mand Of foreign countries that need
gold. The only thug artificial or spec
ulativs In the situation was the effort TO
made 70 keep the gold here. That, OF
course, was 10 keep the market stead,
and not 10 meet business demands.
However. there Is nearly $5O0, 600, 900 OF
gold In the country. The public mind
y comparatively easy, and i have no
doubt that Carlisle will be able TO pu,
himsslf In position to meet all de.
mands for gold.
say when he said this we were not
treated to editorials saying that
the shipments Of gold are due to
this financial legislation In this country.
1t IL strange but true that the
great financial editorials" were lit
tie scarce about that time.
Why was this true? Did the state.
ments Of ex-Secretary Foster take all
the wind out Of them? Or what was
the matter7
Again we will be favored with tel
egrsphic news that Europe 10 hoard. |
Ing gold to be prepared for great war
impending, and that one OF the head |
men Of Germany said that the gold re-
serve Of Germany would not 10 re-
duced u the people went hungry.
In view Of the reasons given In the
editorials II IL fair to assume that the
gold reserve In Germany aud the Inn.
pending war In Europe are due to the
financial legislation In this country.
IN connection with the statements of
sx-Secretary Foster on the "war reas-
on" above, how does tbls FROM the Phila-
delphiA Telegraph sound: "To stop
the outpour Of our gold we must stop
tho buying and storing Of silver. five
do not. we shall have q silver instead
Of gold basis, and the Inevitable result
Of this will be the depreciation TO the
extent Of 30 per cent. Of all manner Of
securities not payable, principal and In.
terest, In gold"
If the above is true, what becomes Of
Fosters statement? And as the above
has been indorsed as ~ sensible srticleo
II must DO taken M one Of the potent
anti-silvsr arguments. The awful fact
that the value Of securities would be
impaired secms 10 DO the keynote. H.
have no doubt that, II the mints of the
United States were thrown open NJ
they ones were TO the coinage Of silver,
the value of securities would DO In one
ssnss impaired; that 10, the purchasing !.
power Of the income derived from
thsm would be greatly decreased, be-
csuss the farmers aud Others who have
something to sell would recelve more
For their products and the
bondholder would bs compelled y
10 pay more for his commodi.
liss. The aame thing would result II .
here should be discovered . second
california and Australia. The great y
'utput Of gold would again raise the y
'rice Of everything and the purchasing v
powsr Of the fixed incomes would be v
educed. What = sad thing II would %
. u such gold mines should be discov- "
red. II would be n great misfortune q =
D the people; that Ia, the people who Y
'old the bonds OF tho world. The pso- Q.
10 who havs those bonds 10 pay by ~
Axataon ON their property hAys no et
ghts worthy Of consideration. They eS
ave no right 10 ask leglslation In their W
'tsrsstA What = misfortune Il would
u by reason of the increass Of the ~
scuiAtins medium, either by . new
lsoovery of great gold-produci ny IN
'0ntry or the full restoration Of silver dr.
money, the farmers Of Oregon could ou
cslve u bushel for wheat aud the an a.,
ios Of ether farm products cures. D,
'ndingly Increased. They have no Ca
yht to any such pricea because it us'
a1ld decrease the purchasing power A..
the nxed Income derived from secari. M,
> The great ma. ef ths people mus, A.
BY any demand Of thelu ..impAir (
; value Of sscurities." ~
. y true THAI silver ives demonstrated a.
The bshsst Of the holders of securities an,
'sksd through congress under the mu
|isisss statement that the blll merely ~
ended ths miasscs IN matter of form 4.
b true that the hoIdeu of securitiss
this financial isgislaiiou of r
reps that dsmcuslissdsllv but nov griI
. The psnpAs Ars bswlsnins " swake \
he rsaiisAtioa of the wrong perps- hos,
- ufsuu fNxsss sl.a s~...s.l--s t. A.. -.