The old Abe eagle. (White Oaks, Lincoln County, N.M.) 189?-189?, 1895-05-09

Shall we be cons 'rvativc and keep ev
cry dollar Of every XII d equal TO every
other dollar, or shall We take the matter
into our own hands and take chances on
having a Deprecated currency, drive our
gold, which is current the world over
out OF the country and leave us ou de
prec,ated silver basis? Every voter
should be guided by reason and practi
cal common sense in this matter. Senti
mentaism is well enough in its place
but it should have no place where M
tional, state and personal honor is at
stake The strict adhernnce 10 right,
divided by reason, should, alone, be the
guide.
The above is clipped from an
editorial in the ROSWELL Record
because it contains the stock argu-
ments of the god bug side of
the present monetary questions
before the country. 1t embodies
about all there is presented from
that point Of view. 1t occurs to
us that the 'sentimentalism" is
mostly with the position taken by
the Record and the gold monomet-
alists generally.
1t has been said and reiterated
by the enemies of silver that it's
use as full legal tender III large
volume. would drive the gold of
the country out and leave us with
practically silver currency on a
silver basis, or single, silver stand
ard. In the light of the past ex.
perience of the commercial coun-
tries of the world. this is sentimen-
talism, pure and simple.
Great Britain has no silver coin.
whatever, which is full, unlimited
legal tender. Germany hos but
about one hundred millicn rs Of full
legal tender silver coin. France
has close to six Hundred million
dollars Of full legal tender silver
coin while the United States has
about five hundred and fifty mill
ions. The silver coin of Franco is
coined at ratio of l54 to one of
gold, that Of the United States at
l6 to /.
Now if there were anything but
sentiment in the proposition of the
Record why Is it that France, with
her six hundred millions of silver
com and the United States with
five hundred and fifty millions in
full circulation, each has more gold
in use than either Great Britain OF
Germany, both Of which have
practically, no silver money at alli
The facts show that n large sill.
yer circulating medium has not
and does not drive out gold coin
from the countries where there is d
double standard. The sentiment.
allsm" of the gold bug insists that
it will.
Then, too, our friend in the Val
ley will remember that as soon as
the coinage of the silver dollar wa:
entirely discontinued in the Unit
ed States under the repeal of the
purchasing clause of the Sherman
act the drainage of gold from the
treasury became alarming and thu
govern ment was finally compelle,
to hire, at cost of many millions
of dollars, syndicate to cause tn,
suspension of expectation in ordeI
to a avert the very calamity which
the Record predicts when silve
coinage is resumed. Such a condi
tion never existed under free coin
age, 1t did exist under the slngl
gold standard as attempted by tn,
government. The facts demonstrat
one thing the sentiment" of tn
gold standard advocate points t.
an opposite conclusion; Eerer
roter should be guided by reason an,
practical common sense ia This mat
ter."
go --.-.----