The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-12-04
THAT CHRISTIAN DOLLAR. +"

Elsewhere in these columns will be
found communication from Mr.. II. d.
Stocker, Jr., in criticism Of the language
reported to have been used by DR.. Way
land Hoyt in his discussion Of some re-
Iigious subject, at the Hennepin Avenue
Methodist Church on Thanksgiving
day." While the letter of Mr.. Stocker
is very pointed, nevertheless if DR.. Hoyt
were correctly reported, the criticism
therein made is only just.
How a Doctor of Divinity can stand up
in an open pulpit, before an intelligent
public, and proclaim to the world that
every wage Garner, every land owner,
has learned that it is impossible to leg
islate fifty cents up to one hundred
cents and that they are bound to have
an honest, sound dollar which is also
a. Christian dollar is quite beyond the
comprehension of the writer at least
This fact may not be a surprise to Dr.
noyt, but his announcement will be very
startling to the business world" and par
iicularly to every land owner" if that
land owner happens to have a mortgage
upon thar lard Let us illustrate
II answer 10 the declaration of DR..
;1oyt "c should have been pleased to
have summoned two prominent Mime
apci.tans to have made reply to that dec
laration then and there. Those gentle
ment spell their names George A. Brack-
EFT and Charles M. Loring, two gentle
men whose connections with the business
interests of this town, and whose work
on behalf of her public institutions and
private charities have earned for them
lasting monuments. If we could have
done this, We believe that we could have
demonstrated to DR.. HOyt and his audi
once that every land owner" who hap
pened 20 owe anything ON his property
mad learned how it were possible to
lssislate IAN hundred cents worth of
property down to fifty cents" without
tho slightest trouble in the world-and
that 100 within the period of three short
years.
When the people of this country first
realized tDat silver had been "demone-
TIED" and that "a single gold stand
ard had i2ecn adopted the year 1891 had
come mighty near being closed. To be
sure the law "damonetizing silver, was
and redoc5orad in 1878, under the Bland
Allison bill that every American citizen
had right to helieve the stain and
Disgrace if not the crime of 1873" had
been forever wiped out
The insidicus clause which Congress
permitted to be inserted into every mon
etary payable in gold"-did
not make its appearance in practical bust
ness until after the panic of 1890 had
passed away. 1t was fully two years be-
fore the National and State Banks had
determined upon the adoption of that
particular permissible clause" in their
monetary obligations. Hence it was
fully the beginning of 1892, before the
people of this country realized that zone
half of her metallic money" had been de-
strOyed by legislative enactment The
destruction of that money has not only
reduced the price of silver bullion As
per cent in the markets of the world, but
it has carried everything else in the line
of commodities down with it, including
the value of lands
In 1891, the representative of one of the
leading Trust Companies of this city.
valued the real estate property Of Mr..
George A. Brackett,-S5 per cent of which
was among the best improved wholesale
property in this manipulating the total
valuation thereof at about 81 200 900.
Within twelve months the New York Life
Insurance Company, and one or two other
parties, have come into possession of that
entire property under foreclosure of
mortgage, for sum, the total of which
did not reach $3.50, 900 all told.
Here was shrinkage of more than $50
cents on dollar" in the value of Mr..
ps0n IL 1nvvtxy
loss of which was brought about by "the
characterization of silver" and the adop-
ton of the "singe gold standard" AL
most an identically similar story could be
told of the properties of Mr.. Charles M.
LOring. These gentlemen could have tes-
titled to DR.. Hoyt's audience, from prac-
tical experience, that at least 1.-TWO land
owners had learned" that it were possible
Ito legislate one hundred cents down to
fifty cents" within the period of three
years.
If then, the Congress of the United
States can, by an act of Congress destroy
one half of the value of mans property.
upon what ground of reasoning does it
follow that that same Congress cannot re-
store the value of that property by sim
liar means? The restoration of silver
adds but four billions of metallic money
to the worlds circulating medium, and
then the aggregate would be but eight
billions, including gold and silver.-and
yet the demands of the business world
now reaches more than twenty billions
of dollars, Or two and half times
more than the aggregate of all metal
money, and five times more than the
present gold standard furnishes. With
al unlimited demand-that is, a demand
for twenty billions of money with
which to do the business of the world.
the gold bugs of this country and of Eu-
rope, are furnishing -four billions as a
supply.
Is 1T any wonder that the value of the
gold dollar has enhanced an hundred
per cent? And is there any power on
earth to prevent it enhancing to five
hundred per cent, so long as the world
demands five hundred per cent more
money? The monetary question may be
one easily digested by our spiritual
teachers but if it be then we fear that
DR.. Hoyt has spent hardly any time over
the subject and needs to do a mighty
sight more studying and thinking before
he sets himself up as an instructor in
finance.
There are more ways than one to skin
a cat but ONLY one Way to make the hest