Middlebury register. (Middlebury, Vt.) 1886-1937, 1895-11-15

LaSe upon W0lCn interest or uSury can
re accumulated. 1t is, therefore, the
most useful money for the people. 1t is
not dangerous to anybody; it never did
any harm and never will.
Instead of driving gold into retirement,
silver is as free from exclusiveuess
when coined as gold is, or as silver is
when they are associated in chemical or
physical union, as they often are in the
ores from which they are extracted.
When gold abounds, for whatever rea-
son, it has tardv and limited circulation
among the producing classes. 1t is not
convenient for them. 1t is too concen-
trated for the minor uses of money, and
it is always avoiding investment. Gold
is the money of the Spectator and the
miser, while silver fructifies industry as
the rains do the earth. 1t is the spring
that fills the brook, the river, and the
ocean, and it is ali the safer because it
comes, a drop at a time, from the foun-
tain. A dollar, in silver, for a days
work in mine, is not dangerous cause
of initiation of the currency.
The South with its gold mines, and the
West with its silver mines, have con-
slant and indispensable demand for full
legal-tender silver coins, in order to pay
the laborers. The life of their indus
tries can no more be sustained without
such coins, or some bankers paper sub
stitute for them, than the laborers in the
fields, forests and mines can be sup
ported on insufficient food or on COM
pressed air.
Gold coins represent accumulated
wealth, as silver coins represent active
working capital. When the bullion in
silver coins is at a premium over the
bullion in gold coins at a given ratio,
the silver coins do not retire from circu-
lation, as gold does under like coDdi.
tons. Silver is always seeking invest
ment in productive property or in com
mOdities intended for immediate use or
consumption, and, indeed, in all de-
scriptions of property; while gold waits
for speculative opportunity, and it comes
into circulation only when traffic is
brisk because other sound money is
abundant, or when the value of property
has gone to the bottom of the market in
a general bankruptcy. 1t then becomes
a wrecker and gathers in salvage.
Silver is an incentive to trade and in
dustry, because it stimulates labor and
gives to it, every day, the rewards of Its
daily earnings. Not so with gold; it
waits for the more convenient season,
when it can gather harvests where it has
not sown. 1t cannot be split into frac-
tions corresponding to the value of a
days work and the banker gets the Job
of making the requisite paper dollars,
and still uses the "gold basis" of his
credit to speculate upon. No country
can be prosperous, under free labor, if
the toilers are not permitted to be thrifty
in gathering their small earnings, day by
day. The gold dollar has been abolished
in our coinage laws to give place to the
paper dollar. and also because the la
bOrers found it too small in size for the
convenience of their their thick, rough
hands. Fractions of gold dollars are
absurd; they have not existed in the
laws of industrial nations, and they
never will be coined. We must, there
fore, have fractions of silver dollars, or
else we deprive the laboring classes and
all others of the means of applying the
value of days work to the several and
varying wants of the family. The la
borer must labor five days, on credit,
before he can get his pay in gold for a
days work. Under such system, the
laborers must be taxed to get paper
money for their wages, or else they
must lend the bankers hundreds of mil
lions of dollars for five days without in
y
in the store
Silver money is the only money we
have that the bankers cannot absolutely
control. 1t is too heavy for distant
transportation and it does not come and
go through the mails or on express
trains to meet speculative demands or to
be loaned to stOck-gambers. They do
Z n of
toiling men and about their homes and
promotes thrift among them. 1t is the
only money that is used by nearly two
thirds of the toilers throughout the
world and it has never worked hard
ship or disappointment to any laboring
man.
The greed for gain that would lock up
the mines of either gold or silver, in or
der TO give wider and more profitable
field of speculation to credit or to capt.
tai employed in banking, is simply the
covetousness that is denounced in the
ten commandments and when this be-
comes national sin and is encouraged
by national laws, it is no wonder that
panic and bankruptcy ensue.
The above very ably presents the value
of silver money and suggests how great
"A disadvantage to the world its destruc-
ton would be.
The storm of Indignation that such at
tempted destruction has aroused is al
ready sweeping over our land and
threatens to cover a large part of the
world. The great majority of the people
of the world are satisfied with fair
chance TO live, but that they will have;
and, in our country, that means ability to
have home ard to bring up their famll-
les with decency, and with at least a
moderate amount of education.
Senator Morgan In article above men
toned, touching upon the rights of labor
thus forcebly speaks
Individual toll is the bottom fact in all
the human progress that we call "the
progress of civilization" Individual toll
creates the real basis on which the
human family depends for existence as
well as for progress. If the world
should attain TO the condition that would