The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1894-04-14
NATIONAL CURRENCY
Cont from first paee.

mand of spectators and embarrassed
debtors in Europe, and, as a conse-
quence, thousands of millions of pro-
perry were destroyed in this country
by the loss of a few millions of inter
national money. The country has
received more injury in the last
twelve months from the gold which
deserted us when needed at home
than from all the financial calamities
of the last twenty years.
The repeal of the purchasing
clause of the Sherman act aud the
adoption of the gold standard have
placed every enterprise in this coun-
try at the mercy of foreign speculat-
ors, and have also exposed the entire
business of the country. Business
men in New York and other com
mercial centres delay action in i'm
portant negotiations every day until
lhey have read the t~elegraphic re-
ports of the condition of the money
market in Europe. Anything hap
pening in Europe which is liable to
create a demand for gold affects the
stock market of New York as sensi-
bly, as if a similar occurance had
taken place in Philadelphia or Chi
cago. There ought to be some
means to save the business of this
country from stagnation and panics
resulting from the folly of extravag-
ance of foreign countries. x
international bimetallism would
not make silver money international
to the same extent that gold is inter
national money. Silver never was
quite as cowardly or teacherous as
when the parity was maintained
free coinage. 1t was more bulky
and difficult of transaction; and be-
it was in circulation amonp
people at large, which made it
very hard to collect in quantities for
export. But silver is now good do
nestle money in every country where
it is used. 1t preserves the equity
Of contracts, stimulates business and
prosperity. The $7OO,OOO,-
700 Of silver in France not only does
tuty at home, but stands guard over
s9oo,OOo,oo0 of cowardly gold and
prevents its expectation, as the silver
would have done in this country if
secretary of the treasury had not
brown open the gate" and invited
'orelgn exporters of gold to raid the
.reasury. He had the same power
o guard the treasury of the United
States by offering to pay silver to
exporters of gold that France and
Germany possessed, but his lack of
knowledge, or lack of patriotism, or
ack of some other quality of mind
n conscience, induced him to facili-
ate rather than retard the undermine
NC of the foundation of our financial
ystem to benefit the exporters of
,old.
SILVER IN OTHER COUNTRIES.
1t is a significant fact that India,
.'leN'co, Japan and every other silver
tandard country since silver was de-
nonetized in the United States and
have been unusually pros
'erous, and that every gold standard
has been suffering depres-
and hard times.
No country has relied on gold or
ny other international money, dur
ng a great war threatening national
xistence. All countries in such
mergencies have created and used
atlonal money. There can be no
that the loss in business by
he enforced idleness of the people
as been greater in the last twelve
lonths than the entire cost of the
vii war. If the United States had
engaged during that time in a
reat war other losses would have
cen incurred, but the destruction of
nterprlse and loss by idleness would
we been prevented by the rejection
international money and the issu-
Ice of greenbacks or some kind of !
'mestic money. If national exist
ice can only be saved in time of I
ar by discarding international and |
national money, why may I
1t national distress be prevented in $
ne of peace by the same means?
atlonal, not international, money
ade England mistress of the world
the conflict with the great Napo-