The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1895-08-10
THE ONE THING CERTAIN.


The more one listens to the discussion
of monometallism and bimetalIism, the
moro he is inclined to exclaim in the
anguage of Scripture: "Who is this
shat darkeneth counsel by words without
wisdom?" But whatever of uncertainty
may attend the solution of the money
question-in whatever confusion of
thought the subject may be involved, one
thing is certain; something was done in
1873. Some change of the money stand
ard WAS made. An old condition was
abolished and q new condition was ss-
tablished. The Democratic Convention
In the State of Missouri declares, and the
declaration tallies with the history of the
countrY-thst prior to 1873 the silver dol
lar of 81 grains of silver was the standard
or unit of value. and that gold was ad-
mitted to free coinage at parity of Is to
l. We think the country is sufficiently
intelligent on the history of the question
80 admit that this statement is historic
ally accurate. Certain 1t is that the silver
standard was abolished, whether sur
rsptitiously or otherwise; and the unit of
value was fixed st 23.6 grains of gold IN
the dollar; or, to state this in another
form, in 1873 the Congress of the United
States abandoned the silver standard al
together and erected the gold standard Of
23.6 grains as the unit of value.
Those who ara in favor of the gold
standard contend that the change accom-
plished nothing. When it is asserted that
it decreased the wages of wol1ingmen the
gold bug denies 1t. If it is asserted that
1t reduced the price of the products of
agriculture, the gold bug denies it. IF
demonstration is alleged as the source of
all our woe, the gold bug denies it. In
short, the gold bug denies that the change
from the silver to the gold standard &C.
oomplished anything, wrought anything,
compassed anything, did anything; that
things are just IS they would have been,
only more so.
The question arises then: If nothing
was accomplished by legislation. why
the legislation? If the demonstration of
silver and the erection of the gold dollar
unit ofvalue made no change of any kind,
for better or for worse, what was the
object of doing it? The one thing certain
Is that there was purpose, clearly and In
diligently perceived by those who accom-
plished the legislation, and 1t remains for
those who believe the legislation to be
right to show what that purpose was.
Whoever secured at the hands of Con-
gresE the legislation of 1873, known to
she silverites as THE Crime of 1885,"
knew what they were doing-hsd q
Glesrly-formed intention In the matter
and accomplished it.
It is not our present policy to declare
what the policy of this nation should be
under existing circumstances but to
keep this discussion in comprehensive
channels. we would like to know from
those who believe tho legislation of 1873
10 be right. judicious and wise. What
was it Congress did in 1873? What was
the end to be obtained? We recite the
historical facts: Congress abolished sill
yer as money of redemption. It made
all the silver of the country token
money. It then entered upon the absurd
policy OF stamping a denomination upon
the silver coinage OF the country which is
not sustained by the bullion value of
that coin. The stamped declaration and
the bullion value parted company. The
silver disc which is stamped at the minis
Of the United States dollar is lie SO far
ss the stamp is concerned. 1t ia a dollar
only because the Government will re-
oeive it as dollar. But the Government
itself repudiates its dollar value when it
comes to the question of paying it out on
account of either the principal or interest
on the national debt. 1t does not itself
recognize il as dollar. If the dollar
coined at the minis is in fact dollar, who
is wronged if it is paid out in the pay
ment of the principal or interest of the
public debit Who is wronged If 1t IS
paid out by the Government for any
service rendered to it It is therefore