The Butler weekly times., 1896-08-13
What the Gold Basis Means.

What Tile OOIu DhSIS htdHs.
Louis Post Dispatch.
The Mckinley platform, dictated
X Cbauncey NJ. Depew az the rep
..,ntative of the Vanderbilt hun
IA milllens, and by 4. G. Plat, as
: i. exponent Of the unity of pur-
,ose between political and financial
eruption, declares that the exist
no gold standard mnst be maintain
Il What does that mean?
The gold Of the country has been
holly withdrawn from circulation
h the operations of the most sue
ss,ful syndicate of spectators ever
mcapized. There is neither gold
,on nor gold certificates in actual
aculation anywhere except in the
.eiu.usiug localities OF the Pacific
dope. There is none in ST. Louis,
none 10 Chicago, none in New York,
none in Boston, none in Philadelphia,
none in New Orleans. It is cornered
.nd withdrawn from circulation, TO
The end that it's value may be in
| creased aud that the government
NAV be forced to issue bonds to pre-
vent the re establishment of bimet
lIism.
Il this, then, the situation to
vhich the republican party is
pledged? Does the success of Nc.
Kinley mean that the power of the
government is to be used to main
hln the gold corner and to prevent
/ fall in the value of gold, now arti-
icially forced up to a basis that is
operating to depress all other values
10 q ruinous extent?
We have an "existing gold basis"
1t the treasury attempts to make
ANY dollar as good as every other
dollar" Ga the contrary the whole
power Of the treasury, and of all the
neasury's financial hackers, from
John Sherman to Russell Sage and
]. P. Morgan, is beng used to dis
credit the silver dollar and force it
lower and lower as cornered gold is
forced higher aud higher.
Neither at the treasury nor at any
sub treasury will hundred dollars
IN gold be- given on demand for a
hundred in silver. At the treasury,
Is at every Wall sire st bank, the at
tempt Is made to hoard gold and
keep it cornered "in reserve 1t IL
the policy of the treasury not tt
allow il t." ,.ircnla,e and II is MOI
clrcula,luS. No..p,ru.ool oleeA- backs
which are also cornered to yer.
great extent because the treasur.
treats them not as lega, tender note
but as gold certificates of deposit
calling for payment in gold and gol(
only.
This. then, is the existing gol'
basis-with gold, gold certificate
aud greenbacks practically with
drawn from circulation The onl
national currency representing cas-
value in actual circulation is silve
certificates and coiu. These do th
business of the country was S
great an extent that if they are nc
upheld as money, we must have
most disastrous collapse-a collaps
to which the panic produced by th
Cleveland gold basis proclamation c
three years ago would be as nothing
The existing gold basis meaas thu
gold shall remain cornered and OF
OF circulation; that greenbacks sha
be treated as gold certificates; th'
they, too, shall remain out of circ
lation and that the whole bushes
of the country shall be done in silv
certificates continually attacked |
the federal administration, by l
Wall street supporters and by II
foreign bankers whose agents a
chiefly responsible for the DANCE
Gus condition to which the count
has been brought.
1t is to this that Mckinley
pledged to his cuckoo platforl
How can any American who retal
both his common sense and his p;
riotism vote for such platform?