Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1895-12-11

no.es taAen hiom surpius revenue to buy
gold In the market. OF course he could not do
this without paying premium Private hold
ers OF gold, unlike the government having no
parity to maintain. would not be restrained
from making the best bargain possible when
they furnished gold to the treasary; but the
moment the secretary Of the treasury bought
gold on any terms above par he would estab-
lish general and universal premium upon it
thus breaking down the parity between eold
and silver which the government is plbged to
maintain, and opening the way to new and
serious complications.
In the meantime the premium would not re-
main stationary and the absurd spectacle might
be presented of q dealer selling gold to the
Government and with United States notes or
treasury notes in his hands Immediately clam
orlng for its return and a resale at a higher
premium 1t may be claimed that large rev.
enue and reduced Re ceipts might favorably af-
feet the situation under discussion by affordine
an opportunity affecting these notes in the
treasury when received. and thus preventing
their Presentation for gold. Such retention to
be useful ought to be at least measurably per-
manent, and this is precisely what is prohib-
tied SO far as United States notes are con.
cerned bJ law of 1873, forbidding their re-
tirement- Thatths statute in % many words
PROVIDES tnat these notes when received into
the treasury and belonging to the United States
shall be Paid out again and kept in circula-
ton" 1t will moreover be readily seen that
the government could not refuse to nav ont
United States notes and treasury notes in cur
rent transactions when demanded and insist
on paying out silver alone and still maintain
the parity between that metal and the cur
fency representing gold Besides the accumu
lation in the treasury of currency of any kind
exacted from the people through taxation is
justly regarded as an evil and it cannot pro-
ceed far without vigorous protest against an
unjustifable retention of money.
Were there infinitely stronger reasons than
can be adduced for hoping that such acti on
would secure for rs bimetallic currency NOV
ing on lines OF parity an experiment so novel
and hazardous that proposed might well
stagger those who believe that stability is an
imperative condition of sound money. No gov
ernment, no hum n contrivance or act of legis-
lation has ever been abl, to hold the two metal,
together in free coinage at a ratio appreciably
different from that which is established in the
markets of the word.
In the light of these experiences, which ac-
cord with the experiences of other nations,
there Is certainly no secure ground for the be-
lief that an act of Congress could now bridge
an equality of so per cent between gold and sill
yer at our present ratio, nor is there the least
possibility that our country, which has less
than one seventh of the silver money in the
world, could by its action raise not only our
own, but all silver, to it's lost ratio with gold.
Our attempt to accomplish this by the free
coinage Of silver at q ratio differing from the
actual relative value would be the signal for
complete departure of gold from our circula-
tion, and the collapse of our entire credit sys-
tenn.
Our country's indebtedness whether owing By
the government or existing between individuals
has been contracted with reference to our pres
ent standard To decree by act of Congress
that these debts shall be payable in less valua-
BILE dollars than those within the contemplated
and intention of the parties when contracted,
would operate to transfer by the fat law and
without compensation, an amount of property
and a volume of rights and interests almost in
calculable. Those who advocate blind and
headlong plunge to free coinage in the name of
bimetallism and protesting the belief, con-
trary to all experience, that we could
thus establish a double standard and
concurrent circulation or both metals in our
coinage are certainly reckoning from a cloudy
standpoint. Our present standard of value is
the standard of the civilized world, and per-
mits the only bi-metallism now possible or at
least that within the independent reach Of any
single nation, however powerful that nation
may be. While the value of gold
as standard is steadied by
almost universal commercial and business it
does not despise silver seek its Punishment.
Wherever this standard is maintained there is its
side in free and unquestioned circulation vol
ume of silver currency sometimes equaling, and
sometimes even exceeding it in amount, both
maintained at parity notwithstanding a de-
precation or fuctuation in the intrinsic value OF
silver.
Their is a vast difference between a standard
OF value AMI currency for monetary use. The
standard must necessarily be fixed and certain.
The currency may be in diverse forms and of
various kinds No silver standard country has
Q gold currency in circulation but an enlight-
ened and wise system of finance secures the
bsnsfits of both gold and silver as currency
and circula ing medium by keeping the stand
ard stable and all other currency at par with
it. Such system and such a standard also
gives free scope tor the use and expansion of
safe and conservative credit So indispensable
to broad and growing commercial transactions
and SO well substituted for the actual use of
money.
The past is full of lessons, teaching not only
the economic dangers, but the national i'm
morality that follows in the train of such ex-
pedient. will not believe that the American
people can be persuaded. after sober delibera-
tion, to jeopardize their nations prestige and
proud standing by encouraging financial nos
trums, nor that they will yield to the false al
lurements of cheap money, when they Iealize
that it must result In the weakening of that
| fnancirl integrity and rectitude which thus far
sn our history has been SO devotedly cherished
as one OF the traits Of true Americanism.
have yentured to express myself on these
| subjects with earnestness and plainness of
speech because / cannot rid myself of the belief
that there turks in the proposition for the free
| coinage of silver SO strongly approved and
SO enthusiastically advocated by a multitude
| or my cauntrymen a serious menace to our pros
| to wander from the allegiance they owe to
| public and private integrity. 1t Is because do
not distrust the good faith and sincerity of
| those who press this scheme that / have
| imperfecty but with zeal sumbitted my
! thoughts upon this moment us subject.
cannot resrain from begging them
to re-examine their views and beliefs in the
| light of patriots, reason and familiar expert
| encc, and to weigh again and again the conse-
quenccs of such legislation as their efforts have
| invited. Even the continued agitation of the
| subject adds greatly to the diffic ulties of q
| dangerous financial situation already forced
| upon Us.
In conclusion especially entreat the peoples
representatives in the Congress who are
| charged with the responsibility or inaugural
| ing measures for the safety and prosperity Of
| our common country to promptly and effec-
lively consider the ills of our critical financial
| plight. / have suggested remedy W hich my
| judgment approves / desire, to assure the
| Congress that am prepared to cooperate with
them in perfecting any other measures promis-
| ing thorough and practical relief and that !
| will gladly labor with them in every patriotic
| endeavor to further the interests and guard the
welfare of our countrymen whom in our re-
spective places of duty we have undertak en- to
| serve GROVER CLEVELAND
1t Seems Incredible.
| Gazpin-How old does a woman have
to be before she can vote?
Neutrality-suspicious. believe