Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1893-09-21
TWO VIEWS OF GOLD.
Comments ofTvo Senators Who Have Since
Changed Their Minds

Changed Their Minds
In the United States senate on April I,
1874. Hon. John p. Jones OF Nevada said;
The value Of gold Is represented by the
average amount Of labor required to pro-
duce it. Its scarcity gives small quantity
Of it great value, so that it Is easily trans
ported from place to place. It iscapable
Of division and subdivision, and also Of be-
ing reunited-alI without loss. It is in
every commercial country made into coins
and stamped by national authority with
certificate as to fineness and weight. It is
flexible and self regulating, and flows by
natural laws wherever the exigencies Of
trade demand it.
"Gold is the articulation % commerce.
It is the most potent agent of civilization.
It is gold that has lifted the nation from
barbarism. It has done more to organize
society, to promote industry and insure its
rewards, to inspire progress, to encourage
science and the arts, than gunpowder,
steam and electricity.
"The use of gold had its origin in the
necessities of mankind. The human heart
Is set upon it. 1t will command the proper
services of everybody at all times and in all
places. The necessities which compel its
use are as inexorable today as they were in
the beginning, although improved systems
of exchange have diminished the proper
tionate volume necessary to do the work.
$50 exact measure is it of human effort
that when it is exclusively used as money
it teaches the very habit of honesty. It
neither deals in nor tolerates false pre-
lenses. 1t cannot lie. 1t keeps its prom
ises to rich and poor alike.
while it has seen human institutions
perish and human governments crumble
and decay, it is itself imperishable. The
gold that was in Solomon's temple pos
sessed the same qualities as the gold dug
today from the sands of Africa The gold
of California and the gold of Australia are
precisely the same. It defies the corrodinp
hand of time and the friction of the ages
It is the common denominator of values
It makes possible the classification Of la
Dor and the equitable interchange of com
modities.
"Gold has intervened in the bargains
made between men since the dawn of civ
| ilization, and it has never failed to faith
| fully fulfill its part as the universal agent
| and servant of mankind. But it withdraws
| from the companionship of the bedizene6
harlot called irredeemable paper money
and says to every people, Danish her before
| you look for my return 1t is the oxygeI
| in the commercial atmosphere, and its alb
sence produces financial asphyxia."
| Senator John j. ingalls,, in speech Feb
10, 1878, said:
| "No people in a great emergency eve
| found a faithful ally in gold. 1t is tn,
| most cowardly Of all metals 1t makes NJ
treaty it does not break 1t has no friend
| it does not sooner or later betray
Armies ard navies are not maintained
| by gold. In times of panic and calamity
shipwreck and disaster, it becomes tn
agent and minister of ruin. No nation eve
fought great war by the aid of gold. o.
the contrary, in the crisis Of the creates
peril, it becomes the greatest enemy, NOR
| potent than the foe in the field, but whel
the battle is won and peace has been sc
cured gold reappears and claims the fruit
of victory. In our own civil war it is doubt
full if the gold of New York and Londol
did not work us greater injury than th
powder and lead and iron of the rebels.
"It was the most invincible enemy of tn
public rdit. Gold paid no soldier or sail
or. 1t refused the national obligations |
was worth most when our fortunes wer
the lowest. Every defeat gave it increase
value. 1t was in open alliance with ou
enemies the world over, and all it's energie
were evoked for our destruction.
But as usual, when danger had bee
averted and the victory secured, gol&l swaG
gers to the front and asserts the supremacy.