The Monticellonian., 1895-10-18

cnlation and the gold standard 1t should be the most moral ard economical people In the world, but am afraid the truth is far different
 Hemonetization Act.
 We are told by Secretaries smith and Carlisle that the act of lSi3 which de- monetized the silver dollar, was elaborate ly discussed and that 1t was simply passed because uD silver dollars had been coined for years and the provisions for their coinage Were unnecessary. Both these statements are incorrect. Senator Allison, gold standard advocate and a prominent candidate for the republican presidential nomination, said in the Forty-hfth con gress.
 When the secret history of the act of 1873 comes to he told, it will disclose the fact that the house of representatives in tended to coin both gold and silver and intended to place both metals on the French relation instead of our own which was the true scientific position with ref erence to this subject in 1875 But the bill was doctored-if 1 may use the expression and l use it i'll no offensive sense, of course. IL was changed after the discus sion and the dollar gt l29 grains subst- tuted for it't
 If the act of 1873 was not slipped through congress with the intention that the demonstration of the silver dollar should not be known it was the most unnatural and extraordinary legislative proceeding ever known. Nearly all the
 
 norant of the fact that the bill demone- tized the silver dollar.
 Blaine, speaker of the house; kelly chairman of the coinage committee, Gar field and Cannon of Illinois declared they knew nothing of the clause striking the silver dollar from coinage, and President Grant, who signed the bill, expressed his surprise eight months afterwards that silver dollars were not being circulated. When Senator B0gY, my predecessor. called attention in the Senate, three years after the passage of the act, to the de- moneuZatton of the silver dollar. Senator Conkling and others, who had voted for the bill, denied Senator BogY's statement, and declared their ignorance of any such legislation.
 No newspaper correspondent had noticed the fact that this extraordinary change in our coinage laws had taken place, nor had any cor yentiOH, or public man declared for such action. Why was t done2 Silver Was then q premium of per cent over gold. and only about $ 9Q6. U16 silver dol lars had then been coined, OVerpruduCtiOn could not have been the legitimate eX- case, nor can it be truthfully said that no silver dollars were being coined for iR 1872 there were coined SLIP 961, and in the months of January and February, IS13 Sg77. Joe the bill being passed February T. 1873. There can be no doubt by an intel ligeat and unpretadiced mind that the passage of this act was the beginning of a carefully organized scheme by the cap italists and maney=1efders of this country to establish the single gold standard and thereby double their incomes
 About Gold Disappearing.
 Gold will disappear both Secretaries Carlisle and Smith Yehemently assert. That if there should be free and unlimited coinage of silver, gold would disappear and the United States would be placed up on a silver standard. This same predie- ton was made when the Bland-Alltson Jaw was enacted in lsIs, which authorized pf more than 4.oo0 oe0 silver dollars each month. A great deal was said about the Gresham rule, which declared that the in feriOr coins will eXDel the more valuable and We hear the same prediction now. The record shows that in lS7S when the Bland Allison law was passed the United States treasury had about Sf4u, ,o06d0o in gold, and in 1s90, when the act was repealed. about $3i9 a,oa0. q quote from memory, but the increase was about $aH. .0Ge 0913 The treas ury reports show that from 1878 to 1890 the balance of trade Was In our favor, except for lsSS and 1SS9. when IL was slightly that when We sell more than We buy, gold comes in, and when We buy more than we sell 1t goes out, without regard to our coinage laws. England buys more of our exports than any other country, and buys only what her people must have. If We demand gold or silver, or English goods in return for our exports, the demand must be complied with. This is the irresistible
 
 and individuals alike.
 It does not follow. even if Secretaries Carlisle and smith are right in declaring silver to be Inferior metal that 1t must drive gold from this country. For eighty years We had both gold and silver as standard money and there is no reason to believe that the same conditions may not prevail again. We can retain both metals on parity without foreign assistance.
 As to Imitation.
 Now give me your attention for very few minutes. If imitation will bring pros perity to this country and add to the en- terprise and energy of our people, for Gods sake give us little Infation. (Ap- plauseD
 If we can bring back again to our dark ened homes and hearths the signs of pros perty and joy let us inhate, and l Will not say word. l am ?, ,epared for imitation Look now ait the reoult of these two sYs- tems of contraction in currency now pro posed to transact the business of the peo- pie, You ask me if l am in favor of paper money and more or less expansion of the currency. No; but l would like to see gold and silver one, and bimetallism on a par ity to meet all the demands of business. See how these two systems operate.
 Look at history England had great war commencing in 1890, that lasted about % years. What did England do for money to carry on that var. She issued her bonds in order to support the troops and for her own people; she had unredeemabie
  Hans and billions What was the result? Look at the figures of history. England ever prospered and tat long war lasted as 1 have said, % years, her commerce ex- banded. her nayies were victorious and her armies fought against the French at the end of the war, notwithstanding the ravages and the loss of men from the ranks. England was more prosperous than ever before, and then she determined to destroy her paper currency and the gold men struck down silver and paper and what was the result? Read those graphic accounts of the miseres that fol lowed in every village and town in Eng land; where starving women and children threw out thin palltd hands and begged for bread Such misery, such woe and degradation as followed the destruction of the paper money and currency including it's silver coin.
 Now, take this country and look at the result here. We have duplicated the scenes that Were had in England, except that our enormous resources and the youth of our nationality enabled us to go through if with less suffering than did the people of Great Britain: and so, if you step across the channel. it is with France France never gained one single battle in that war The war was begun at o'clock in the afternoon, and upon the day after the German troops crossed the border ana were never checked in their further prog. ress until the Prussian King was crowned emperor of Germany inside the walls of Paris, and no country was ever so humil- lated, no country was ever so prostrated in so short a time
 The Eagles of France, under which Ma poleon had marched in victory all over Europe, were torn down and trampled in the dust by the German people The fine or indemnity, as 1t is called of one billion dollars in gold was paid. The war had cost her two billions. She paid one billion. and all Europe stood aghast at the enor- nous disaster which had come upon her
 In four years France had paid the whole of that billion of dollars, and now. having