The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1895-03-16
THE FINANCIAL QUESTION.
A Plea for silver.

this country has been getting IN ITS hne work
until now we are told that We cannot do tins
or that we must not do that for fear that Eng
land will do something that will ruin us.
Some Of our people, it seems, are more
willing to do what England wants than TO 10
what is best for the people of the United States;
England is the richest country on earth, and
her people have been for centuries the great
money lenders of the world.
When silver was demonetized in 1873 by
Republican Congress It was worth two per
cent premium over gold. Today gold in the
same ratio is worth nearly fifty per cent. over
silver This means that this country and all
debtors here must pay nearly two dollars Tor
every one thew owed when silver was demone-
TIED. Not only does this condition affect the
debtor class, but it depreciates in value all
kinds of property except gold or securities
welding a fixed income This Is simply cause
and effect Our standard of value in 1873 was
both gold and silver; today It Is gold alone,
one-half of the basis upon which the country
transacted its business was taken away when
silver was demonetized. and as q matter OF
course. as gold Is now performing the duty
which was formerly the service of gold and
silver. it has been correspondlngly enhanced
in value Aside from any constitutional Oh
iections. the demonstration Of silver is gross
violation Of every principle Of right and Justice,
and If permitted to stand viii bring upon oar
people untold woe and ruin. Already the cry
Of distress NAV be heard from one end Of Cur
land to the other Fortunes but few wears
ago which we're considered resting upon stable
foundations have vanished into thin air, and
many thousands Of men who were possessed
Of means sufficient to support themselves and
their families in comparative comfort and lax
ury are today bankrupt and ruined.
AZ UNCONSTITUTIONAL ACT.
How long this condition of things Will be
permitted to continue depends upon the time
Il viii take for the people 90 understand the
question and TO pet themselves IN position
to correct the evil In the first place the act
Of Congress whereby silver was demonetized
is unconstitutional The Constitution Of the
United States recognizes gold and silver coin
as money and as legal tender for the payment
Of debts. and the only power which that in
strument confers upon Congress. j. to com
money and regulate the valne thereof aud OF
foreign com.
Daniel Webster one Of the greatest cunsli-
tutional lawyers Of this country, said Gold
and silver at rates fixed by the Congress con.
stitute the legal standard of value IN this coun-
try, and neither Congress nor any State has
authority 10 establish any other standard or TO
diSplace that standard; and james 9. Blaine.
though not a LAWYER, was man who had stud
led the laws and the history OF his country
and who had helped make the laws Of the
country for a quarter Of a century, said =
believe gold and silver to be the money Of the
nstitation-indeed, the money ofths Amer
can people which the great organic law rerog-
uized IS quite independent OF lis own exist
enee No power was conferred on Congress
to declare either should not be money. Con
gress has therefore, in my judgment no power
10 demonetize either.
This whole scheme To destroy silver n
money was Matched aud has been nurured
principally by England. Decentralization Of
silver means to the bankers and capitalists Of
England the doubling Of their investments
To prove this. we need not look farther than
the proceedings OF Parliament. Mr.. Everett,
a member Of Parliament. offered a resolution
the other day by which il was proposed that
England should send commissioners % mon
eiary conference If one were called by the
leading countries Of Europe to consider the
silver question. and IN presenting the resou-
ton he said England was rich. but that
was no reason why she shonid unJustly IN
crease the burden Of other States-surely sbe
was not interested in the bankruptcy Of other
nations which we're owing her money, but
that was exactly what was going on aud what
would continue unless something were done
10 check Il And the Right Hon. Henry
Chaplin in seconding the resolution said -
That the government had aimed blow after
blow at silver; had closed the minis Of India.
depriving silver Of It's last great market: and
afterwards had imposed duty upon the silver
imports Of India.
MONEY LENDERS TIE BESEFtCiAREES-
But England's bankers and capitalists are
not the only bene6ciaries-the bankers and
money lenders Of the United States viii come
in likewise for their increase Of wealth. Nor
Is this ALL II means the inter destruction
and humiliation Of the property interest IN
the hands Of one class, ami the transfer Of all
properly and the concentration Of at wealth
IN the hands of another class. man who
bought farm ten years ago for $1,000, and
gave a mortgage for 5000, has very little
Interest in his farm today. he may have m
creased the fertility Of the soil aud expended
money in Improvements, but the result of his
labor and toll and expenditures has by an act
Of Congress been transferred to other hands.
The man who holds the mortgage without any
effort on his part. BY the mere operation Of
cause and effect. stands today possessed Of the
farm al less than one-half lis cost and at less
than one half It's value had not the spirit Of
the Constitution been violated by the demon
citation Of silver.
What Is the remedy do YOU ask Remone-
TIE silver and let il have equal rights under
the law with gold. OF course England viii
object and the bankers and capitalists of this
country viii object, and We may expect to
hear a lot Of talk about an honest dollar and
cheap money That kind OF talk may have
its weight among the aristocraey Of England
and their class in this country, bat the great
mass of people. those who SOW and reap, who
blow aud strike and earn their bread in the
sweat of their faces have had enough OF a
single gold standard We are on gold basis
now. We don't have to be told. however,
something has gone wrong. Ask the farmers
of the country, of the State and indeed OF
the whole county how they are enjoying the
times Ask the land renter if he is getting
ahead and If he expects soon TO buy farm.
Under the present condition of things 1t is
utterly impossible for him to be getting ahead,
and the day when he will be able to buy a
farm has been indefinitely postponed. Indeed,
most of those who have already purchased
farms on time viii lose them.
THE PEOPLE FEEL THE BURDEN.
Now. the man who has his money invested
in bonds aud mortgages does not feel the
hard times the lower the price of things the
better he is suited; the interest which he re-
eeived is not lessened. but It's purchasing
mower Is increased and becomes more valu-
able as everything falls in price, that he Is
ready to take off his hat and hurrah for the
single gold standard. But the great mass OF
people are not so fortunate. The men who
borrowed the money represented by these
mortgages find that while their incomes have
become greatly lessened by the depreciation
Of farm products, caused by the single gold
standard, the interest on the mortgage debts
stands 1T the same rate per cent. 1t takes
two bushels Of wheat to make dollar now;
perhaps when they borrowed the money one
bushel ,yOuld make a dollar
just here the gold bug will tell you that II
is over-production which has caused the
great fall in prices of farm products. But
this cannot be true, because there has been no
decline in prices in countries on a silver
basis Whoever knew wheat to be so low as
now? And has not wheat, whether the yield
has been great or SMALL gone down as the
price Of silver went down? When 412l
grains Of silver we're worth dollar, and il
hos not been lone since wheat was worth