Iron County register., 1895-09-19

two great fleets are being scattered
over our political seas. Can they evel
again be marshalled in hostile array?
, We are told that we shall have g
!, campaign of education In our view
there has rarely, if ever, been a time
when the right education of individu
al citizens was more important, for the
question is vital and the leadership tt
which the people have been accus
toned 10 such questions is now wholly
unavailable.
| We make no apology for the taking
part in the Educational compaign,
for besides the interests common to al
citizens. we have some that deeply con
Germ our official work. as the represen-
tative of a great Christian benevolence
Our friends know something of the ex'
tent to which this work has suffered
in consequence of the prevailing finan-
cial distress and our future success de-
pends upon our fellow citizens findir g
the good and the right way. Among
those who are influential in the educa-
tion of the public, especially concern
ing questions on which political par
ties do not join issue are the readers
OF our pages. We desire to suggest to
them a few facts and principles that
may serve as safe guides for the pro-
posed campaign OF education in which
all intelligent public teachers should
bear their part.
We premise, by suggesting that the
laws of finance, though more obscure,
are as real and as inexorable as the
laws of nature. 1t is therefore impor-
tant TO study them with the greatest
care. We should, with special vigi-
lance, guard against being influenced,
in any degree, by false and misleading
cant-phrases adopted by heated parti-
sans, such as '.s0and money!" .'h0nest
dolIars," ETC., and their related propo-
sitions. Every body wants ..sound
money" '.honest dollars" The ques-
tions to be settled are, What is
sound money? What are honest dol
lars.?" We are always safe in suspect
ing any party to a dispute who uses
such phrases instead of sound facts and
honest arguments, thereby assuming
that all who differ with them are un-
sound or dishonest in character and
purpose. We do well to look careful
ly after the facts, and with even-hand-
ed justice weigh all arguments.
l. Gold and silver have constituted
the money of the world-not gold
and silver bullion, but gold and silver
coin of agreed relative weight nearly
| uniform throughout the word.
2. While the relative value of the
two metals has been greatly disturbed
| within a score of years, there were but
slight variations for more than two
hundred years preceding, and the re-
| cent disturbance of relative value be-
gan with legislative discrimination
aginst silver in this and other coun-
tries and has almost steadily grown as
this discrimination has gained upon
public thought and feeling.
5. The two metals. however, stand
related as of Old as the precious
metals" 1t is not possible for any
other to intervene for use as money.
1t is. therefore, of necessity, simply a
question whether there shall be gold
coin alone as redemption money or
whether these two metals shall con-
tinue to serve together in agreed re-
lations.
4. Taking the last hundred years to-
gether, the relative amount of gold and
silver bullion available for coinage is
in harmony with the relative value
heretofore obtaining for coinage pur-
poses,-sixteen or less of silver to one
of gold.
). Coinage of money and the regu-
lation of values thereof are the prero-
gatiges of the nations severally though
commercially related. In our country,
the Constitution of the United States. |
defining general powers of Congress. |
includes money. weights. and measures, |
in these words, ITO coin money. regu-
late the rdlue thereof, and Of foreign |
coins. and fix the standard of weights |
and measures"
6. The more limited the supply of
any article in proportion to demand,
the easier it is to 'corner the market"
and the more imperative the need of
such article, the more disastrous the
results of ..cornering." If our Gov
erument shall make gold coin the only
legal tender we shall be in daily peril
OF financial panic and diasaster.
1t will be in the power of less than a
millionaires to put gold coin
and exchange based upon it beyond the
reach of the people, at their pleasure.
We haye had, in recent history. {
enough corners" in the necessaries
Of life TO suggest the business diasast-
ers that would surely come, by ..cor- /;
Al, fo, an !.