The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-09-11
THE PRESS.

The following paragraph from the
Portland Oregonlan, a newspaper OF
large circulation among intelligent peo-
pie, fairly illustrates the attitude habit
ually assumed by many newspapers
toward those who are 50 unfortunate as
not to share their opinions on financial
topics:
Bounce the silver mine owners or attor-
nsys of the Rocky mountain boroughs out
of the senate. inc the cranks of the three
or four halt-civilized p~orulist states. and
tho surviving bourbons of the old slave era
of the south. and there would be nobody In
the senate 70 stand against the law Of
values recognized by the world.
1t is the habit of such newspapers as
the Oregonian, too, to sheer at the citi-
zens Of the metal producing states as
persons ignorant of the laws of finance
and the principles Of economics and to
assume that superior knowledge and
broader and more disinterested views
come out Of Wall street and Lombard
street.
Now, what are the facts? Why, that
the majority of scientific students Of
finance, tho greatest living authorities
on these subjects the world over, are in
substantial accord with the people Of
the west and south, the "cranks and
b%ourbons," as the Oregonian styles
them. The Review of Reviews for
September, in an impartial discussion
Of the silver problem, thus fairly states
the case:
But why not accept the simpler conclu.
sion and aequiesce in the use of the single
gold standard? The broad argument
against this conclusion is the widely &C
oepted fact that gold is steadily gaining a
larger purchasing power and that long con-
tracts made in gold work hardship. Ono
Of the elements of a sound money is sta
bility; and it is quite as Objectionable that
the monstary standard should gradually
depress prices by subtly growing dearer. a.
that it should gradually initiate prices by
subtly growing cheaper. The statisticinns
are not fully agreed; but the best nuthori-
ties seem to be ranged upon the side that
regards silver as having departed far lesa
gold from the average value of staple
COM odities. 1t is an extremely difficult
question. and IL is not wise to dogmatizs
about 1t or to speak in q superior tone.
But it ia a fact that silver lie the money
of q majority of the worlds inhab-
itants; and it might be argued with some
show Of reason that if bi- metallism is al
ignis fstuus and tho whole world must
to a single metallic standard, thsn
silver would be a safer and more satisfac-
tory money substance than poiJ. With the
earnest contention of the west and south
that silver ought to be a full money metal,
for our part, agree amphnticaily. The
logic that makes gold the standard Of value
in India cannot rest satisfied until China
and South America are on the same basis;
and the depressing effect of this successive
conquest can but be very Eevere and very
widespread. Gold monometallism cannot
stop at the present lines; and its universal
adoption would in our Judgment be moro
baneful than q transfer to silver mono
metallisn.
That is further than u great majority
of the friends of silver coinage would
60. All they contend for is the restora-
ton of silver to it's old place on equal
terms with gold as q part of our mon
etary system. But even q silver mono
metallist is just as scientific, just as
sane, just as patriotic, as a gold mono
metallist.
The great need Of the country to-day
an intelligent and educated press
newspapers whose conductors have
studied both sides Of public questions
and who can advance reasons for the
convictions they hold, instead OF cover
ing their ignorance by cheap and coarse
abuse Of those whom they cannot meet
in fair argument.