The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1895-02-22
THREE sYGNIFIClNr EVENTS.

The bill for the issue OF S65, OOO, OOU
of per cent. gold bonds, to substitute
for a per cent. thirty year coin bonds
sold by Secretary Carlisle under con
tract with the Rothschild- Morgan
syndicate was turned down by the
House of Representatives on Thurs
day of last week on its second reading
by Il vote of l61 to 120. The bill for
the issue of $500, 600, 900 of gold bonds
and the retirement of the legal tenders
recommended in President Cleve-
lands special message had been de-
feated week before by Il majority of
81. An analysis of TIE vote to substi-
tute gold bonds shows that 50 Demo
Gratis and 81 Republicans voted for
the measure and 9S Democrats, SO Re-
publicans and and Populists voted
against it. Almost at the same moment
the Society of French Agriculture
lists declared in favor of bimetalism and
passed IL resolution urging the French
Government to call an international
silver conference.
On the next day Count Won Mir
bach introduced a resolution in the
German Reichstag instructing the fed
eral governments of Germany to issue
invitations for an international none
tary conference to bring about the re-
Mobilization of silver as a circulating
medium. A debate followed in which
Count Herbert Bismarck, Chancellor
Won Hohenlohe and several promi-
nent leaders declared in favor of the
measure.
That strong and influential bodies
of men in three of the greatest nations
of the the world should, at almost the
same time, declare for the restoration
of silver to its former place in the
minis is more than a coincidence
When we add to this the fact that the
feeling in favor of bimetalism is
growing strongly in Great Britain and
that the British government has late
ly taken steps to provide for the coin
age of silver dollars in India to sup
ply the overwhelming demand for
them in that country, it must be evil
dent to all that the financiers of the
four greatest and most enlightened ma
tions of the earth have arrived at
the conclusion that the single gold
standard is not sufficient. The pros
poets for the dollar of the daddies''
are certainly growing brighter daily.
In this country the only solid argu
ment against the unlimited coinage of
silver has been that while it would
work all right at home it would not
be received at par in our dealings
abroad and the effect would be to
force gold to a premium for foreign eX-
change This has been an insur-
mountable stumbling block in the
way of those who wished to find more
room for our silver and increase the
volume of our circulating medium. If
Germany, France and Great Britain
find they cannot do without silver
and enter into an international agree
ment for a bimetallic standard this
objection will be removed and no fur
Their weighty objection can be made
to free coinage. 1t is to be sincerely
hoped that this may be accomplished
speedily.
1t IS historical fact that abundance
of money has always been beneficial
to trade and the welfare of the
masses. Following we'll known law
of communities nhnn hnanmaS
scarcer it becomes dearer. When
money becomes dearer men become
cheaper. This is the experience of all
countries and all ages.
Any one can readily see that when
money appreciates in purchasing pow
er a tremendous advantage is thus Civ
en- to those possessing a surplus of this
useful commodity. The misery of the
great debtor class is corresponding
ly increased. We need go no further
for an illustration of this than to take
the experience of our own country for
the last ten years. Our financial ex-
perts say there is as much money per
capita in existence as heretofore
This may be so but it is not in circu-
lation. Conditions have caused it to
be locked up in bank vaults and for
all useful purposes it might as well
not be in existence at all. Therefore
prices of all industrial products, while
they remain at general parity with
each other, have greatly fallen when
they come to be measured in cash.
Thus farmer who borrowed 81 900
when his wheat was worth dollar a
bushel or his cotton ten cents pound |
practically owes $1,000 now and it will
take twice as much of his time and la |
Dor to pay his debt as when he con-
tracted it. This in many cases rem
ders his condition hopeless. The free
circulation of the silver dollar would |
do much to better his condition, and |
if this can be accomplished without
injury to the creditors it will 60 very
far to ngsabout return of univer-
: satsesspefity.
/. HaFE8E DHANGED FOR THE BET