The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-03-16
MARCH 16. 1895
PROVO CITY
In BOSTON.

The Boston Shoe and Leather Re-
corder, one of the very best trade journ
ais in the country, last week, in answer
to one of the gold organs of the hub,
had a blingering article on the cur
rency question which is worthy an
honored place in the memory of every
true westerner who values the metal
money which has made the wilderness
of the west to bloom and blossom as
the rose, and this republic the richest
and most prosperous land on the face
of the earth. We give this excerpt:
1t is time for all business interests
to assert themselves and call halt in
this march to destruction. They must
demand that the basis of values which
has stood the test of centuries be re-
stored at the earliest possible moment.
We want all the benefits that can come
from improved met DDS OF production,
but when it comes to legislation which
forces down prices by making the
standard of value worth double, there
by doubling the burden On all who
have obligations to pay, We must take
measures TO undo the mischief. IT We
can have an international agreement,
30 much the better. If not, rather
than continue in the present course, it
is wiser to act for ourselves and adopt
a silver basis, if need be, The threat
of premium on gold is a bugaboo, as
we know from experience. The total
of payments TO be made abroad is
tIitling in comparison with the volume
of business at home. A premium on
gold would operate to prevent large i'm
portatlons of foreign goods. This would
mean SO much more employment and
wages for our own people, and so much
less OF a surplus OF agricultural pro-
ducts to be exported, and force down
the price Of the whole. The quicker
we appreciate and act On this policy the
sooner we Will have revival of busi
ness prosperity, in which the fright
ened bankers and money lenders will
share.
While no bimetalllst wishes first to
substitute the silver for the gold basis,
preterring the double standard, yet it
is we'll that people should know how
much to make of the gold -bugaboo cry
raised by the advocates of the single
standard as it exists today.
That's just it. A system of finance
which has stood the test of the CEN
turies and under which has grown up
such nation as this within an hun
dred years, should be considered as
furnishing all that is required as to
security, justice, permanency and
promise for the future, yet the bene-
fcent system is arrested in the full tide
of successful application without
moments warning and the basis OF
values changed from the double stand
ard of both gold and silver to the
single standard Of gold. In the very
face of the fact that with both metals
in full and active force there was far
too little money to do the business of
the country with, yet this bitter and
and cruel policy, was pittilessly pro-
jected despite the fact that the volume
of money was to be, by it alone, re-
0OOSA AAOAO OAluh Ol1O 1dlls
What are the measures which nav
be taken to undo all this mischiefY
Clearly there is but one measure, and
that is reconciliation. If, as the Rhoe
and Leather Recorder says, we can
do it by international agreement, so
much the better, but it must be done
without that. if needs be. Of course
that would be a move in the direction
Of silver basis, but why not silver
alone as well as gold? But this result
is more seeming than real. The ma
tions of the world would tumble over
each other to get back upon our
double-standard basis and twelve
months would inevitably see the re-
storation of all the conditions of f. |
nance under which we grew rich |
and prosperous before. The gold pre-
MUM threat has no terrors for a clear
headed business man who has lived
and is now living with his eyes open.
When we have reached that Ioint in
our downward course where we owe
more abroad than the volume of our
whole home trade amounts to, then we
may begin to fear the gold premium.
but not till then. There would be but
few goods imported were gold to go to
a premium. We do not know if that
would not be pretty good thing after
all. ANY influence which tends to
throw our own people back upon their
own resources is, by the way considered
the best possible policy. While we
would not care to see matters carried
to that length, yet better that even
than the conditions prevailing today.
In its industrial aspects it has some
very taking features, because it would
Tend TO exclude foreign importations
and at the same time build up home
1t is time for the whole people of
his nation to study in earnest these ,
Of our trade and financial
But here in the west
We cannot, dare not, longer refuse
either to study or to act. We have
made a close shave as it is, and every
lay which remains between the present
nd remonetization, but increases the f
angers. RECOMMENDATION upon some
+ almost any grounds, is the necessity a
the times.
THE Ogden Press thinks it is a MOI r
ION democrat who is serving the e
outbarn Pacific in its uorforo ~, n, a