The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1894-04-14
CURRENCY
Better Than International Bimetal-
lism. They Agree That the Gold
Standard Will Bring Ruin.
STEWART ANSWERS WALKER.
The Free Coinage of Silver-Gold
Exports-The Position
of Silver.

General Francis A. Walker of
M who is president of
the International Bimetallc league,
recently issued a pamphlet on ''1n
Bimetalism," in which
he held i. was necessary to secure
the united effort Of the European
and especially England,
before the United States could sue
cessfully coin silver. Senator Stew
art thus answers the pamphlet in a
letter to the New York Press:
UNITED STATES SENATE,
WASHINGTON, ID. G.,
March 20, 1894.
DEAR SIR: Your pamphlet on
international Bimetallism'' is re-
ceived, for which accept thanks.
am gratifed to know that you
appreciate the inevitable ruin which
the gold standard, if established and
maintained, must produce. You call
the attention OF the country to living
facts when you say:
Look at the financial and industrial
history of the past few years. Every
where the steckholder is giving way to
bondholder; everywhere we hear of re-
ceiverships; everywhere the mortgage is
coming into possession; everywhere the
weight of the dead hand is felt continu-
ally increasing.
You might add: Everywhere the
government Of tie people is giving
way to concentrated capital, every
where the profit of production is alb
sorbed by the increasing purchasing
power Of gold; everywhere invest
ments in gold and gold obligations
are profitable; everywhere the mar
gin or profit of enterprise is daily
diminishing and the danger of loss
increasing; everywhere thrift, com
fort, prosperity and independence
are yielding to decay, misery, stag
nation and submission; everywhere
constitutional liberty is yielding te
the usurpation of gold monopoly
everywhere the destruction Of silver
as money and the consumption O
the output of gold in the arts are
diminishing the supply of STANDARD
money and intensifying the none,
famine; everywhere the indication
of decaying civilization, which mark
ed the approach of the Dark Age
when mining for the precious metal
became extinct are again visible
everywhere the scale of living fo
the masses is sinking lower, Will
the pomp and splendor of the ric
are increasing in ostentation an
magnifcence; everywhere feuds
slavery for the masses and feud'
power for the bondholder seem inc
vitable; everywhere the social an
political revolution toward the cor
ditions of despotism and slavery {
e Dark Ages is following the financi
= revolution which was inaugurate
to destroy the bimetallic princlpl
J known as the ssautomatic theory"
II regulating the volume of standal
: money by gold and silver, and to r
duce the basis circulation and cred
to gold alone at time when Il
it output of that metal is substantial
consumed in the arts.
II A SIGN OF THE TIMES.
The evidence which your pamp
let furnishes, that New England b
gins to realize the danger of the fl
ancial revolution which the enemi
of civilization have started for pow
and plunder, is hopeful sign of t
. times. Your failure to discover t
remedy ought not to be taken al
reason that you do not desire Oh
T. You cannot be aware of the effo
of the bondholders, who desired
scheme of enhancing the value
bond DIS by diminishing the supply
money, to impress the people W
the belief that an independent fin'
cial policy for the United States
impossible, and that the only rene
for the intolerable evils of gold c.
n traction is to obtain the consent
: England to relinquish the advants
she has in compelling the world Q
side the United kingdom to pay
int crest on more than ten thous,