Alma record. (Alma, Mich.) 1878-1928, 1895-04-26
THE DECENTRALIZATION ACT.

THE CONCENTRATION ACT.
The New York Tribune made IL SUI
preme effort last Friday and utterly de-
molished the "blathersktes" who claim
that decentralization was secretly and
fraudulently passed The Tribune
brings out many facts which have been
known to all free silver advocates, but
they have no bearing on the main con-
tention. A conspiracy was successfully
cOnsummated which could not have
been, if the members of congress had
had a knowledge of the first principles
of monetary science. 1t is true in the
debates the vital points At issue (the
change of standard and discontinuance
of the coinage of the dollar) were re-
feIred TO several times. What Mr..
Hooper said on these points could prob
ably have been said in perhaps from
three to five minutes, and he said as
much as any one Mr.. kelly's refer
ence to these points would not have re-
quired quite as much time In all of
the debates in congress it is doubtful
whether as much on these two points
can be found as would require ten min
utes of time for a single speaker to re-
hearse. What was said was TO give
reasons for these provisions which were
plausible, but which were based on
ignorance. For example, the only rea-
son given for the discontinuance of the
circulation because its bullion value
was too great--greater than its coming
value. II they had gone little deeper
into the matter and shown why it was
necessary to change our ratio in 1884
from ID to l; if they had shown that an
act changing the ratio from ID 10 l TO
l53 TO l would have made the CONNER
cial and coming value the same; if, in
fine, they had shown that we overval-
ued silver in the one case and under
valued it in the other as compared to |
the coinage of nearly all Europe, then
the remedy proposed would have been
very different. The gold in the dollar
would have been increased to 26.6l29 |
grains of standard gold, and the diff
culties experienced would have van
ished. There were not probably half
dozen men in congress who had any |
idea of the cause of the premium of sill
yer or who had any idea of the effect of
characterization, SO they became an easy |
prey to consprators. To say there was
no conspiracy, in view of the great eff
forts made throughout the civilized |
world from 1865 TO 1874 to bring this
about, is to spit in the wind for the
whole history of that effort gives the
assertion the lie. II is IA case in which |
the people were simply buncoed; sharp
took advantage of the
dense ignorance Of the all but few
financial experts. The fact, too, which
has never been controyerted, that the
of the country took no
notice of it, shows of what little import
it was thought to be. If congress were
today to pass law by which the
standard yard measure kept in the
archives of the government was to be
made of aluminium instead of brass, on
the ground that it is less susceptible to
change of temperature, that it Is
lighter and less likely to tarnish from
action of the elements, it would excite
no interest. Some of the papers might
give it a passing notice, but in the
main it would be thought of trivial inn
pottance to the people. 1t was just so
with the change of standard from silver
70 gold; perhaps not half dozen men
n the United States ever dreamed of
is far reaching effects.
c. III. CHASE. V