The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1895-04-06
WHOLE NO.. 227.

logic has prevented everybody from
buying anything except necessaries,
and disabled all from selling.
DEBTS REMAIN UNDI1INIsHED.
"But while actual property has
thus collapsed in value to meet the
new basis of values, the debts which
that property must discharge have
not shrunken by SO much as the
thickness of hair Result: One
generation Of struggling and once
thrifty citizens has been forced to
the wall and is now passing through
the process of financial extinguish-
ment-their little properties trans
ferred to their creditors, who, by the
way, don't want those properties and
are themselves distressed over loss
OF income and lack of means to pav
taxes on foreclosed realty.
CHOW was this folly and tragedy
of silver demonetzation rendered
possible? That is long story and
variously told, but this is its reason
able genesis: The governing class of
Europe, which is also the interest
collecting class, took causeless alarm
lest the rapid development of mines
should so increase the volume of the
precious metals as to greatly dimin-
ish their purchasing power-that is,
raise the prices of commodities, and
thus impair the value Of their own
fixed incomes. Their panic was
coddled by certain sapient profess
sors of political economy, Legislation
followed before the people knew
what was in the wind, and here we
are! In the United States the step
was taken, | have no doubt, wholly
with honest intent, but in dense ig-
norance of what the results would be.
THE GOLD CRAZE DEAD IN THE EAST.
ain the Eastern states as in the
West the medicine of adversity is
working bravely and thinking on
this subject is being enforced. And
it is not by any means the debtor
class alone that is now demanding
reconciliation. Those who depend
upon interest and dividends from
invested funds are finding that both
are cut off by the poverty and bank
ruptcy of the individuals and corpor-
ations that are their debtors. And
thus a widespread reaction against
the gold standard has set in among
the very people who have hitherto
been cassed as gold bugs.
"Some of the bankers of even CON
servative Boston are facing and pre-
pairing to welcome the inevitable re-
turn to tie double standard. A few
days since friend of mine had oc-
casion to confer with half a dozen
bank presidents in that city, and to
his surprise every one of them ex-
pressed his readiness for the change,
and several went so far as to say that
if it were to be choice between
continuance Of the present condition
and going to silver basis, with
gold at premium for time, they
would prefer the latter.
"And ] believe the end is near.
After March 4, 1897, all departments
of our government will be aggress-
lively friendly to the double standard.
AS is well known, Great Britain,
Germany, Austria, and France are
ready without urging for an inter
national monetary conference, and
this time the masses who vote, in the
Old World as in the New, are be-
hind the movement. The appalling
condition Of England's landowners,
farmers, and small tradesmen is at
last influencing English statesmen.
SILVER IN AMERICAN POLITICS.
, at is natural and fitting mission
of the republican party to take up
this silver question and settle it once
for all. Not that silver remonetized
is properly matter for partisanp poll
; tics, but the party in power will ine-
) vitably be held responsible for what
F, is done and for the manner of doing
it, and from this time forward the re-
| publican party is likely to be the
governing force in this country.
5 The party can adjust this question
along the lines of safety The
democratic-populist combination
G would infalliably wreck everything
in its usual elaborate manner if in
1 trusted with this delicate and diff
e cult but unavoidable task. Unless
: the republican party wishes to alb