The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1894-12-26
BLAINEIS PROPHETIC WORDS ON
CURRENCY

10 the late tariff campaign, James G
Blaine's remarkable prophecy, made Il
1888, as to the disastrous consequence
that would follow the Democratic party
accession TO power, pledged to policy o
free trade, an event which he at that tint
distinctly foresaw, was quoted all owe
the country. 1t was recognized as pre-
diction which events had fulfilled to the
letter.
Tbsfe Is another Blaine prophecy which
it's 10 order to recall now that Cleveland'e
policy of destroying one-half OF our stand
ard coin resources Is eliminating In semi
annual Increases Of the National debt, and
schemes for stopping the hole made by
the suppression of silve, with wildcat is
sues Of bank mote paper. Mr.. Blaine has
left to bis party and the country the fol.
lowing impressive words Of warning:
believe the struggle now going on In
thIs county and 10 other countries for a
single gold standard would, II successful,
produce widespread disaster, and, In the
end, throughout the world.
The destruction of silver as money and
establishing gold as the sole unit Of value
must have Q ruinous effect upon all forms
OF property except these Investments which
yield fixed return In money. These would
be enormously enhanced 10 value and
would gain q disproportionate and unfair
advantage over every other species OF
property.
II, az the most reliable statistics affirm,
there are nearly q. 900. 900, 900 OF coin or
bullion 10 the world, not very unequally
divided between gold and silver, it is i'm
possible to strike silver out OF existence
as money without results which will prove
distressing TO millions aud utterly disas
trous to tens OF thousands.
Alexander Hamilton, 10 his able and in
valuable report In 1871 on the establish
ment OF mint, declared that "to annul
tho use Of either gold or silver as money
Is to sbridge the quantity OF circulating
medium, aud is liable to all the objections
which arise from comparison OF the
benefits OF full circulation with the evils OF
q scanty circulation" take no risk IL
saying that the benefits OF full cireula
q
are beth UNNECESSARILY greater to-day than
they were when MIR. Hamilton uttered
these weigh,y words, always provided
that the circulation is one OF actual money
and not Of deprecated promises to pay.
do not think that THIS country, hold
Ing so vast proportion of the worlds
supply OF silver in its mountains and it
mines, can afford to reduce the metal t.
the " situation of mere merchandise j.
silver ceases TO be used as money in En
rope and America, the great mines OF thu
Pacific slope will be closed and dead
Mining enterprises of the gigantic fcai
szieting in ,i,is country cannot be carried
on to provide backs fer looking-glasses
and to manufacture cream pitchers and
sugar bowls. A vast source of wealth te
this entire country is destroyed the mo
rnent silver Is permanently disused a.
money.
II Is for US TO check that tendency an
bring the continent OF Europe back to ih'
full recognition OF the value ef the whit,
metal as q medium of exchange.
These are the words Of one Of the broad
est statesmen and greatest leaders the Ike
publican party has ever had. They mari
with distincinpss the line Of division be
tween the patriotic American money polio,
and the British bondbolders' money polio!
Of Cleveland. The present admiuistra
ton insists upon slavish Difference t.
England and her gold standard. The Re
publican party must range itself uude
the banner Of an American currency poll
cy. and, in the words OF Blaine, "brinl
the contine i OF Europe buck TO the ful
recognition Of the value Of the whit
metal (silver) as u medium of exchange.
-Ne,v York Recorder.