Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1895-05-30
THE POOR MANS PROTECTION

The idea has been fully ex-
planned in these columns that
changing the standard in which
prices and obligation r eX-
stressed is a critical matter. 1t
is clear that the great industrial
work of producing and exchang-
fng goods goes on Independently
of any particular level Of prices.
Changing the counters does not
change the goods to be counted.
Goods will not be produced and
exchanged quite as we'll on a low
as on a high level of prices;
quite as we'll on a high as on a low
level of prices-once this level
has been reached. The danger
and loss resides only in the
change from one level to the
other. Once prices and obliga-
tions have adjusted themselves
to IL level, then all goes on
well. The disturbance which is
productive Of chaos is the one
arising from sudden movements
from one standard to another.
This it is which produces specu-
lation and disorder in prices and
which disarranges the relations
between debtors and creditors
If existing obligations are ex-
pressed ip the gold standard and
Their a sudden change be made
by free coinage of silver at 16 to
1, that would cut all prices and
debt paying by one-half. The
difficulty and wrong is not IN
having high or in having low
prices, but in going from one to
the other.
No one can for a moment be-
lieve that any number Of Amerl-
cans seriously intend to repudi-
ate their indebtedness with cons
scious purpose. They would not
willingly do a wrong. All that
is necessary to do is to point out
to the fair-minded where the
wrong is and it is certain to be
avoided in the end. The very
foundation of our Institutions
| that which makes US all proud OF
our country-is the right of al
to equal Justice before the law, Il
it comes about that there is one
law for the rich and another fol
the poor, then our institutions
are surely degenerating. Every
attempt should be made that car
by any possibility be urged tc
secure only one and that an invari
able rule of justice to all, ire
spective of rank or riches. II
any measure be proposed to de
| fraud debtors, and that be sue
cessfully enacted, then that viii
only pave the way to measures
to aid the opposite side The
inevitable consequence will be
enactments to defraud creditors.
It is no more right to defrauc
debtors than to defraud cred
itors. Both are adhorrent tc
every honest man and to al
rules Of Justice. The only right
policy, and the only one which
in the end will be sanctioned by
| the sober conscience of the land,
is tt at no deviation from justice
be made either for debtor OF
creditor. That is the simples 81
commonplace Of our constitution
al existence.
Aud the same holds true OF
legislation about money. If we
cannot be sure that the poor and
the debtor can be protected, then
there is no security whatever
that the creditors can be protect.
ed. It is in the interest of both
to calmly study what will insure
Justice. If we make it pos
sible for laws to be en-
acted to relieve debtors OF
their burdens, then we open the
chances for laws to give credi-
tors more than their share Both
are equally wrong, and both
must be prevented, If we can
not have a stable standard Of
prices for the laboring man, then
there can be none for the bond
holder. That is the reason why
the workingman does not like to
see the free coinage of silver,
He, above all others, needs a
stable standard Of prices. Why?
Because if any measures at all,
of any kind, be attempted, to
change the standard with the
avowed purpose Of modifying
the relations of debtors and
creditors, then which side is
likely to get the advantage?
Will it be the poor, who have no
influence and little money to
spend on the lobby? By no
means. The rich who can buy
the legislatures, who can main
tain a lobby, they are the ones
to profit most in any contest at
getting favorable legislation.
Surely, then, it is the last thing
in the world that the poor wish,
to have a situation created in
which legislation of a special
kind is urged because it benefits
one side.
This is the danger in legisla-
ton for free coinage of silver.
To try to get laws to scale in>
debtedness one-balf will be sure
to react on the promoters. That
has always been the case. But
the free silver advocates say that
the act of 1873 took away the
"poor mans money" There is
absolutely no truth in this. 1t
is a falsehood wholly unsub-