Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1893-07-11
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- D~->SS~s
during the past winter, the Hon. John
Sherman, ex-Trcssurer Of the United
States, il reported to have said that
the free coinage Of silver would be .
great advantage TO the debtor class.
As the Hon. gentleman opposes such
free coinage this admission has great
er force. While We make NO prsten-
tions 70 wisdom in financial questions,
to NJ it seems that any legislation
that will benefit the laboring or debt
or classes il wiss lsgislation. History
gives no example Of nation having
suffered from such legislation, bot
the ruin Of many has been accom-
plished, or at least fastened, by leg
islation that has served to make the
rich richer and the poor poorer. We
have no sympathy With any kind Of
warfare against capital. The busi-
ness of tho world cannot be carried
on without it. Because . man b
skillful in financial matters, and 20
accumulates more than bis less skill
full nsighbor, there 10 no reason Why
be should be denounced, or lsgislsted
against. In the honest exercise of
his ability be should be not only pro-
tected, but encouraged, for such .
course is for the good Of al people.
But such : one certainly should not
be legislated in favor Of to the rob
bing of his less skillful brother. We
do not believe in robbery Of any kind,
and, from the best information We
can get, the demonstration of silver
in 1873 was An act Of robbery, for it
compels laborers to take less for their
work, debtors to pay more than they
should justly pay, and takes money
from the pockets Of the people gen.
orally to increase the store of money
loaners. By that Legislation the value
of gold coin was arti6cially in
creased, and in the same ratio the
value Of every marketable commodity
was lessened. Is not this the reason
why there is so much distress among
the farmers of our country THAI
which they have to sell brings then
less money, and this is, to them, the
same As though their indebtedness
had been increased to that extent
We were raised upon . farm ane
worked there several years. Thi'
may be the reason why We have ,
lasting sympathy for farmers and pos
sibly our sympathy with them ma,
bias our judgment. Be this as j
may, we are convinced that agricui
ture is the very basis of prosperity
and that no country can long b
prosperous when the agricultural elias
is oppressed. When farmers max
money, trade in all its branches j
quickened. The manufacturer the
finds market for his machinery, tn
mechanic finds employment, and th
merchant sells his goods, but whe
farmers can barely succeed in gain
ing a living, business enterprises c
all kinds are soon compelled to re
trench, laborers are dismissed, an
merchants find their goods left upo
their hands. We therefore thin
that Legislation which serves to prs
duce this condition of affairs is v
cious. 1t may serve to increase th
wealth of the money loaners, but
produces condition in which the fe
are enriched BY the labor of th
many. which is grossly unjust. Tt
demonstration of silver seems
, have produced this condition, and
this be the cause of the present 6naI
, cisl distress, this distress will not /
: relieved, but will rather grow wor.
: until silver is again restored to II
place it so long held as a monetaI
I metal. Throughout the historic pei
r cd, until 1873, gold and silver ha'
been regarded as money metals, f
= hundreds of years they were alike r
/ ceived at the principle mints in E
d rope and coined into money free
9 charge. From 1903 to 1873 the pa
e ity of 153 to l was maintained b
4 tween the two metals, notwithstsn
l. ing the fact that during the first ff
IS years the production of silver W
e double that of gold, and that for t
IS next twenty years the production
!. gold was double that of silver. TIL
,e the parity could have still been mai
m tanned there seems to be no douI
IS had not silver been surreptitiou:
~ BETRAYED. The demonstration
10 silver was effected by the combin
N efforts of the great banking houses
ID Europe and America. 1t was do
rs in the interest of the money loane