Capital journal. (Salem, Or.) 1893-1895, 1895-05-15
PUT TWO AND TWO TOGETHER.
The Scheme TO Contract Currency
Ably Dissected.

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EDITOR JOURNAL:-It would be
difficult TO think of more appropriate
headlines than those you put over the
extract from the Oregonian published
May 10.
How can the people fail to see, even
from the facts published In the gold
organs themselves, that there is some.
thing wrong with the single
gold standard? How long will the
Republicans Of Oregon kindly allow
Harvey Scott to do their thinking for
them? The array of facts in the article
referred to constitute the strongest
kind of q plea against the single gold
standard, but Mr.. Scott apparently
cannot see it. He lays the wole re-
sponsibility for the governments
financial difficulties to the existence of
the legal tender currency. If the
''surplus" of that were called In and
bonds issued in its place the treasury
gold reserve would be impregnable. Is
it possible that any man with set of
brains can honestly come to that con-
clusion? Ought not any man of intel
ligence to be able to "see a hole in a
forty foot LADDER"
If the government is to keep the
currency on gold basis-every dollar
as good as every other dollar, and all
founded on gold, the only possible way
to do this is to keep every dollar inter.
changeable with gold. No one will
disputethat. How else can the govern
ment do this but by paying out gold
in exchange for every dollar of any
other kind of currency that is presented
at its counters for redemption. Neither
Harvey Scott nor any other gold bug
would dare to propose any other kind
Of currency at par with gold. Very
well; as long as there was o dollar of
legal tender currency in circulation in
the United States, either greenback,
silver certificate or any other kind of
currency, either national bank note or
silver coin itself, that dollar can be
used to draw gold out of the treasury
In exactly the way. That,in Mr. r.Scott's
opinion, causes all the trouble. The
'coonskin" would be ready to the gold
gamblers hand until every dollar of
legal tender money In circulation in
this nation or paid out by this nation
was gold dollar. That is cold, in
fact that any man can
see IL he will use ordinary common
sense and not allow himself to be led
of and confused with side issues that
do not bear on the case.
The reasons for this demand for gold |
and for its shipment to Europe
are entirely different considerations.
Why do they not go into the causes of |
the shipment Of gold to Europe? Why
DO they not explain that 1t is sent
because we owe Europe, and If 1t was
not drawn from the treasury II would
DO drawn from the banks aud would,
have to leave this country
'or Europe just the same? Why do
hey not explain that even, with the
balance Of trade strongly In our favor, |
he interest due European holders OF
'ur government, state, municipal, rail-
'oad, and other bonds, proAts on In
of European money In this
country, expenses OF Americans trayel'
ng abroad, freight money paid foreign
vessels, s,-yes and marriage settlements
rom rich American fools who buy
titled sons IN law, all 10 20 make up =
great balance against US aud the bal.
anoe must be settled Ia goldY IL there
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