The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-28

a performance that IS to come. In this
particular (and I trust in all others). I
give the pathway and the methods OF
that particular gentry wide berth
If there ever was a time in our nations
al affairs when 1t behooved the people.
more particularly the working classes, to
be independent and do their own thinking
and acting. it is now, for the reasons
herein set out
1t is undeniably the case that the act
of Congress of 1873 by which the STAN
dard Of values In the Uniesd States was
changed from a double to single one.
IN favor of gold and at the expense OF
silver made revolution in our financial
system; and if this had not caused an
unusual depression, relieved only sporadi-
cally and for short periods. it would have
been little if anything short of a miracle.
The business Of the country from the be-
ginning of the century at least had been
transacted with silver currency as the
basis; in fact, the silver dollar was the
unit of values. while gold. though a po-
tent factor, was not the prevailing one.
Debts were incurred and. IN fact. all of
our internal commercial affairs were
comfortably settled on a silver basis.
The great war inflated everything.
money more than anything else. and az
the great flood of paper currency and
obligations which had been issued to
carry on the struggle began to contract
In volume by reason Of the gradual set
Ting down in public affairs. the pressure
brought about by the shrinkage naturally
pressed most severely upon those who had
the least. The resumption of specie pay
ments was forced to Slch an extent and
at such a pace that. like the receding
waters of a food, it left many a land
mark high and dry. We were getting
upon solid ground at the expense Of thosA
who, because of the trying times we had
passed through, were the ones left with
the burdens of responsibility TO meet and
the currency upon which the responsible
ties were contracted gradually withdrawn
and made more and more difficult to OBJ
tain. The life blood, the best efforts. the
property of the people were all placed
upon the altar, and when the grand OBJ
ject for which the sacrifices were made
was attained. the status of affairs was 50
changed that other sacrifices had to be
made, chief among which was the giving
of mortgages and otherwise encumbering
themselves Still, while the paper money
on which these people relied was being
narrowed in volume day after day, We
still remained upon a silver basis and
there was no cause for general alarm.
especially as nature in the far west was
more Inan ever DeIOre giving up OF ner
argentiferous treasures and giving abund-
ant promise to the toilers everywhere that
all would yet be we'll.
The promise was not satisfactory To
those who toll not neither do they spin,
but whose occupation IS the making OF
others necessities their own opportuni-
ties Our double standard made it pos
sible for us to settle up with all creditors
In very short time, and the design was
not to collect the debts but the interest
and prolong this to the latest possible
day There was but one way-demonetizs
silver and make gold the sole standard.
Congress could do this, and we know full
well how willing it was to enact the In