The herald., 1895-09-05

stop the coinage of silvei and thus cut
off the chief demand for that metal with
out correspondlngly diminishing its CON-
mercIal value? Therefore if we now open
our mlnts again to silver will we not
thereby restore the demand for silver
and in restoring this demand shall we
not restore its commercial value? If
not then why not?
Then again did not the stopping OF the
coinage OF silver correspondingly increase
the demand for gold? And if an increas-
ed demand results in an increase of value
how could it have been otherwise tnan
that the commercial value of gold should
rise just as tha at of silver declined?
If Mr.. Galpin or the man whose criti-
cism appears over his name will only ex-
anime the published tables 10 be found in
the criticised pamphlet showing the rise
in gold and the decline in silver and the
corresponding decline in nearly all kinds
of commodities from year to year ever
since 1873 he will scarcely undertake to
repeat his assertion that 1.-The purchasing
power of gold mas gone down and down
and down from the day when the ancient
vineyard proprietor gaze to the laborers
IN his vinyard every man a penny
| confess | have not gone back through
all the intervening ages between the year
one and the present to ascertain the ex-
act value of either gold or silver in the
by-gone centuries. But if Mr.. Galpin can
make good so much of his sweeping as
sertion as claims q constant decline in
the purchasing power of gold since 1873
he Will do more than any other champion
of mono-metallism mas ever yet been able
to accomplish. 1t would be interesting
to know on what authority it is that Mr..
Galpin claims that the penny paid 10 each
of The laborers in the vineyard or the
penny given by the good Samaritan TO
the inn keeper was gold penny. The
penny of the scriptures otherwise known
as the ''denarius' was silver coin first
stamped 26) years before Christ. We
have the most conclusive proof that silver
money was in use IN Judea at the begin
ming of the Christian era as appears from
the betrayal of Christ for thirty pieces
of silver, just as he is now daily betrayed
by the worshlpers of gold. 1t will prob
ever any gold pennies in circulation
either i'll Judea or elsewhere in any age
of the world. Our distinguished critic
unhesitatingly pronounces my position
false and condemns both my arguments
and those OF bmetallists In general as
only tit to intlame the passions of the
ignorant. To what q superlative subli-
nifty of financial wisdom must Mr.. Gal
pin have reached to teel justihed in char
acterzing by implication the greatest fin
anciers and statesmen OF all past centuries
as well as our own down to the year 1873
as msre demagogues and as having no
better arguments In support of bimetall-
ism than mere appeals to the passions
of the ignorant?" Did Mr.. John G. Car
lisle the present great leader of mono
metallists, in his great speech in congress
February 81, 1878. simply intend it as an
appeal to the passions and prejudices OF
the ignorant when he said:
According to my views OF the subject,
the conspiracy which seems to have been
formed mere and in Europe to destroy by
legislation and otherwise from three
sevenths to one-half of the meteliic
money of the world Is the most gigantic
crime of this or any other age. The con-
summation of such scheme would ulti-
mately entail more misery upon the
human race than all the wars, pestilences
and fainines that ever occurred III the
history of the world. The absolute and
instantaneous destruction of half OF the
entire movable property of the world, in
oluding houses, ships, railroads and other
appliances for carrying on commerce,
while it would be felt more sensibly for
the moment, would not produce any
thing like the prolonged cirtress and
disorganization of society that must in
evitably result from the permanent ami
hiIation of half of the metallic money of
the world?'
pause for a reply.