Mexico weekly ledger., 1894-10-18

mand 10: its repeal. Within the last twelve
months a associations of national bankers, cotton |
exchanges and boards Of trade have been very
active anu Jealous in their efforts to create a
public sentiment that would compel Congress
TO ~retrace its steps. They charge that the dol
lar which we are coming under the act of Feb |
ruary IS, ISIS, is q dishonest dollar, and that
every creditor is defrauded who is compelled to
accept 1t 1t was predicted by all the friends of
scarce money, when we We're passing this law,
that gold would begin at once to leave the
country, ard that the cheap silver of foreign
But there is no evidence, and none can be pro-
duced, to show that gold Will leave this country
as a consequence of silver coinage, and the his
tory of the last eight years demonstrates the
truth of that proposition Will We be Hooded
with the cheap silver of other countries? Are
We to be buried in a sepulcher of this bright and
beautiful metal? Suppose the silver of other
countries were all sent to us. Would 1t be a
curse instead of u blessing? II money is q curse,
why is all the world struggling to get it? We
can never be flooded with silver bullion from
any country, because 1t is cheaper here than else
1884. of Sis, 600, 600, the United States, Mexico
and Bolivia produced more than 800 600, 600:
and, after consuming what they wanted for
hunt higher markets Now, / ask, where is the
cheap silver to come from that is threatening US
with q financial crisis? IL is not In the world
THE next charge Is that our doilaris a dis
honest dollar; tina, it is an Scent dollar, that
Il is a clipped dollar. heard it called on this
hoo1 eight ytdEs ASo III TIE ul5CIt5SlOn Ul thlS
| question by all Of these bad names, and yet by
the authority OF the laws of the United States,
1t is invested with a monetary function just the
same as the gold dollar.
.'Now if therei is anybody In this house or out
side of 1t who believes In his heart that IL Is an
sS-cent dollar, if he will advertise that he will
| supply all that are wanted at IS cents, and sell
them for gold dollars at 100 cents, he will 500,
| see demonstrated the truth of the old aphorism,
The fool and his money soon part company
9Th perfect condition of our Money is when
the monetary value of the coin is equivalent to
the commercial value, and We ought to come to
that Well, how are we to do it? We are eer-
tainly not going II do Ii by stopping the coinage
of silver 1t was the stopping of the coinage of
silver and depriving silver of its market that
strange sort Of philosophy which teaches us
that in order to bring back equality We must
stop the coinage of silver That q like telling
| q man when there is something the matter with
| one of his legs that the proper way to restore it
Is to cut OF that leg and peg about as well as
he can on the other, and that parhaps after
awhile, by some miracle-for nothing short of
a miracle can produce the result-his leg will
grow out again. IL Is like saying to a man
when one of his eyes is diseased that he ought
not to cure the disease and restore the ailiDg eye
to the same condition as the other, ont that the
proper thing to do is to jab it out, with the ide"
| that maybe some of these DAYS q miracle will
De wronght-that somebody Will come along
and touch the eve and relume it again."
Strange as 1t may seem, tn senator now ap-
pears to favor the policy of leg-cuttiDg and eye
jabbing. IstIll oppose it But hear the rep
resentative further. He said:
"The way to bring the monetary value OF
geld and silver together is to restore the market
to silver Give silver free coinage If We take
he advice of the scarce-mouey people and stop
/ one metal to measure It's values, and the price
Of labor and the products OF labor will come
Town, men will be thrown out of employ ment
throughout the earth, tramps will fill the high
wsys, and We will See a depth and intensity OF
hsufering we have never seen before.
Now, Dir. Chairman, / come to answer the
real objection to the free coinage of silver. /
have bse en- dealing with the tine-spun sophtstries
which have been thrown around the subject. l
/ come to uncover the false pretenuer, to take the
mask from his face, to expose his repulsiye
features to the American people whom he seeks
to defraud. The objection to the free coinage
of silver is because 1t will increase the volumr
of circulation that measures The value of labor
1t will make money cheap, bat it VIII make the
stroke of the arm uearer. 1t will make clothing
dearef, it will make wheat dearer, it will make
cora and cotton dearer, bat 1t will make every
day of toll bring q better price than it is now
worth The best condition of every people Is
reward for its toll.
There are about So, 600, DOC, 600 of money In the
world. Whatever the volume is, IL measures
all the values of the world. Imean the money
in circulation; l do not mean the money. in tn
mines do not mean the money locked up in
the treasury vaults. do not mean the money
locked up in bank vaults; but l do mean what
ever amount is in actual circulation, going into
the markets, demanding exchange, raises the
price of labor anu It's products throughout the
world II you decrease that volume one half
If you strike down silver, if you take 1t out OF
l ClrCuidttOn, as ueIuidny tEitu 70 10, dnu uA
values alone by the gold standard, then the
value Of the products Of labor would be red uced
One-half
"My friend from Pennsylvania asked me a
moment ago what about debts? That question
goes to the bottom of this controversy. 1t is on
account of debts that the creditor class is trying
to make money scarce. They are trying to
make the poor debtor work two days to pay that
for which he owes one days labor; and dis
guise 1t as you will, that is the head and front
Of the ohense OF the silver dollar. The debts OF
the people of the United States are set down at
S25, 900, 900, 90 Ii is a low estimate to say that
lis interest is at the rate of 5 per cent per
annum. That is an annual drag on labor OF
81 $50 600 600; in addition to that the taxes TO
support national, state and local governments
nous burden bending the backs of our people
to the ground, is 1t not a crime to make money
scarce. and thus lower the price OF all the pro
ducts of their labor? | want 10 repeat 1t, aud
emphasize it, that high pr4ces for labor always
bring prosperity to the country; and high
prices can never be had with a scarce Volame oil
money.
"In all the wild, reckless and remorseless bru-
talities that have marsed the footprints of re-
cuInstance that mitigsJes the severity of the
punishment due to the crime Some have been
The product of the fierce passions OF war, some
have come from the antpathy that separates
| alien races, some from the superstitiOns OF OPP
posing religions, But the crime that Is now
sought to be perpetrated on more than 80, 0O0, 00t
| of people comes neither from the camp of q
coBquerOr, the hand of a forsIgn"r, nor the altar
of an idoiator. But it comes from those in
whose veins runs the blood of a common ances-
try, who were born under The same SIX es, speak
the same language. reared in the same institu-
t1ons, and nurtured in the principles OF the same
reli gious faith. 1t comes from tine cold, phleg-
matte. marble heart of a~varice-avarice thai
seeks to p~araIyze labor, increase the burden oil
debts and fill the land with restitution ana SUI
fering to crafty the lust for gOid-avarice sur
rounded by every comfort that wealth can COM
mand, and rich enough to satisfy every wan
save that which refuses to be satisfied without
the suffocation and strangulation of all. the
labor in the land. With a forehead that refuses
to be ashamed. it demands of congress an act
that will paralyze all the forces of production
shut out labor from all employment, increase
the burden of debts and taxation, and SEM
desolation and suffering into all the homes Of
the poor. 10 this hour, fraught with peril x
the whole country, l appeal to the unpurchasec
| representatives OF the American people to NEE
this bold and insolent demand like men Lei
us stand in the breach and call the battle on
and never leave the field Until the peoples