The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1893-09-07
A. MGREGOR
COMMENTS UPON THE CURRENCY PAR.
kDox OF THE HOUSE.


Values to Single Gold Standard Re.
publiosns Who Helped to Wipe Out
Their Pet Silver M eaBure are Urged to
Take the Same Stand Against the NC
Kinley Iniquitys
EDITOR News s-DEMooRAT:- :-"Currency,n
says late author 10 to the science OF
political economy what the squRrinR OF
the circle is to geometry, or perpetual
motion TO mecban MICS"
Another circIe-squaring paradox has
just transpired in the House at Washing,
ton. Three years ago the Sherman law
was pronounced QreAtphnaceA, warrant
ed to cure and now II seems TO be damned,
and without benefit Of clergy.
The money question ia extensive, and
/ its literature elaborate, The subject has
| been discussed; government commisN
| sions have investigated, international
| conferences have reported after great
research, and private persons have writ
ten learnedly and voluminously to an ap-
paJling extent. And yet here we are az
much at sea as ever, tacking about.
Individuals as well as nations, are ever
bothered over the money question. And
there seems TO be little OF no respite.
Currency, like the pendulum, is htther and
thither; aud bad Is IL for any people when
they get into the grasp OF the money
| msgnAtes. This is very generally the
cave now, for nations are heavily 1T
| volved in debt, and thereby labor Is eD-
| shaved. The American people should be.
| gin 70 see whore we are, and realize that
| we, too, are debtor nation.
Our money magnates wants the single
| gold standard. No doubt IL will be much
more convenient and profitable for them.
| The shylocks OF Great Britain have 30
| foundit. They have multiplied their mil
| lions enormously; and extended their
| swaR accordingly, levyinR tribute as they
4 L.. I.Il hats.
| II 10 only of late years that the idea took
root in this country OF a single gold stand
| ard. Our early stAtesmen said "the money
unit must stand on both METALS" Daniel
Webster said in 1886:
"Most unquestionably there is no legal
tender and there con be no legal tender
| in this country but gold and silver, either
the coinage OF our own mints or foreign
| coins, at rates regulated by Congress-.
This 10 a constitutional principle, per-
fectly plain, and Of the highest import
| ance.n
The general decline In prices the world
over, In staple product and other real val
| ues, is no doubt in consequence OF the
| combined assault on silver Rs standard
money metal during the last twenty years
or more. This 10 no doubt the cause OF
the blight on all business and the cause OF
| the enhanced dCarnes8 and scarcity OF
gold.
| in circular three years ago:
"There is no doubt that the dangers OF
silver initiation have been much exagger-
Atsd, and real or fanciful, they are so die
fant as 10 have no effect on the early
future" We sballsee IL the repeal Of the
Sherman law will work the wondrous
benefits anticipated.
The United States monetary commits
sion of 1876 was body OF nine mem bsrs,
Ave of them Republicans. That body
said in its able report:
''If all the debts in this country had
been doubled by an act of legislation, IL
would have been far leEs calamity TO
crease in their real burdens already caus.
ed by = contraction of the volume Of
money!
The silver coinage under the acts OF
1873 and 1890 no doubt relieved somewhat,
but when the Sherman act Is repealed
and If nothing is afterH ards done TO re-
store silver as a standard money metal,
contraction will be in order again, aud
serious Insy become the situation.
The action Of Great Britain in India EaI
cut of the annual coinage of some forty
million ounces of silver, and the repeal of
the Sherman law will cut off over fifty
million ounces year ia this country, all
tending more and more to depreciaIe the
meta and which will ultimately affect the
cOin,no matter how our laws aim to keep
up the parity Of the silver coin now in use.
The money schemerS gsmbled with
RresnDAcks sudEo depressed them ald
thereby pluhdered the people. The plan
now Is TO play similar game with silver.
Thus will the golden divinity
grow In grace a1d increase in
beauty. National banks Gro
20 run tho country, rule, riot a1d ruin,
But long will be the lane that hao no
turning, and in the trying, testing school
of experience, dear though it is, people
will sometimes learn.
The vote in the house on Monday and
the repeal OF the purchasing clause OF the
Sherman law, presents one remarkable
fea sure in tho vote of the Republican
members, almost unanimous to knock
out their own bantling of three years ago.
The Republican convention of Ohio, two
years ago, adopted platform, on which
Mckinley was elected governor, that en-
dorsed the Sherman law az tollows:"
Thoroughly believing that gold and
silver form the basis of oil circulating
we endorse the amended COIN \
age act OF the last Republican Congress,
by which the entire production of the sill
yer mines of the United States 10 added to
the currency of the people,"
The champions on the stump this fall,
In advocating the re election of the same
Mr.. Mckinley, will endorse the repeal of |
the "amended coinage act," (!he Sherman
law), so fully and cordially endorsed two
years ago. No doubs President Cleveland
feels grateful for the almost solid Repub-
lican vote in the House that gave such an
overwhelming majority TO the admins
tration measure repeating the Sherman
act.
The repeal Of the Sherman la Y, which |
wac q mere piece of trickery TO re-slect |
and hold on to power, Is all right |
as far as IL goes. The Republicans and
the gold bugs In the House were too strong |
for the friends of bimetsllism but ii will |
aud this will only arouse to action,
Another Republican iniquity will in time /
come to grief, IL Is to be hoped, to wit: the |
law. We hardly think the Re> i
publican members In the House will be h
30 ready to help kill OFF that bantling, |
The gold bug gentlemen seem to have had |
b strong bold upon them. At least their /
look that way. Let them soon have q
chance to vote out the Mckinley infamy.
Some of uB live Ia hope, despite the prse-
9nt despair. Free coinage 16 to / should 4
have carried in the House, and IL would 4
have but for Republican votes. Stick Il
pin there, There IL life In the old Democ-
-Rey yet, We say II Blandly
IL 10 to be hoped the money lords of the h
IF the land will feel so good over the
aotion of the House, that they will join
heart and hand TO relieve, restore
confidence and set the wheels of in
lustry going by unlocking a Eutilciency of
Ihe millions that some time since disap-
peared. Even silver would be accepts
,ble.
The sudden and unexpected shutting
iown of shops all over the country, and
ihe stsRnation that has become SO gener.
ally prevailing, should be changed to
activity all over. III possible. Winter is