Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1896-10-05
JAMES G. BLAINE ON SILVER.

terror to the constitution, which that
great organic law recognizes as quite
independent Of it's own existence. No
power was conferred on Congress to
declare that either metal should not be
money. Congress has, therefore, i'll
my Judgment no power to demonetize
silver any moro than to demonetize
gold; no power to demonetize either
any more than to demonetiZe both.
Few persons can be found, |
apprehend. who will maintain that
Congress possesses the power to de-
monetize both gold and silver, or that
Congress could be justified in prohibit
ing the coinage Of both; and yet in
logic and legal construction it would
be difficult to show where and why the
power Of Congress over silver is great
er than over goId-greater over either
than over the two. II, therefore, silver
has been demonetized, am in favor of
remonetiZing it. If it's coinage has been
prohibited, / am in favor of ordering t
ed, am in favo,' Of having it enlarged.
Il believe the struggle now going on
in this country and in other countries
for single gold standard would, If
successful, produce widespread disaster
in the end throughout the commercial
world. The destruction of silver as
money, and establishing gold as the
sole unit of value, must have a ruinouS
effect on all forms Of property except
those investments which yield fixed
return in money. These would be enor-
mouSly enhanced in value, and would
gain Il disproportionate and unfair adj
vantage over every other species OF
property II, as the most reliable sta
tistics affirm. there are nearly 1000
100000 of coin or bullion in the world,
not very unequally divided between
gold and silver, it is impossible to strike
silver out Of existence as money with
out results which will prove distress
ing to millions, and utterly disastrous
10 tens Of thousands.
Il believe the public creditor can at
ford to he paid in any SILVER dollar that
the United States can afford TO coin
Wy
millions of property in this country,
and a wise Self-intereSt will not permit
us to OyertuIn it's relations by seeking
for an inferior dollar whereWith to set
lie the dues and demands Of any cred
itOr x
"The interest of the public creditor
is indissolubly bound up with the inter-
ests of the whole people. Whatever
affects him affects us all; and the evil
that we might infiict upon him by pay
ing an inferior dollar would recoil upon
us
IF paid in a good silver dollar the
bondholder has nothing to complain of.
II paid in an inferior dollar he has the
same grievance at will be uttered still
more plaintively by the holder of the
legal tender note, and of the national
hank bill by the pensioner, by the day
laborer, and ny the countless host Of
the poor, whom we have with us al
ways, and OH whom the most distress
ing effect Of inferior money will be
ultimately precipitated.
1--WE need both gold and silver and we
can have both only by making each the
equal of the other. 1t would not be
difficult to show that, in the nations
where both have been fully recognized,
the most widely diffused, the steadiest
and most continuous prosperity has
been enjoyed; that true form of pros
perity which reaches all classes, but
which begins with the day laborer
whose toll lays the foundation Of the
whole superstructure Of wealth. The
exclusively gold nation like England
may show the most massive fortunes in
the ruling classes, but it shows also
the most helpless and hopeless poverty
in the humber walks of life. The gold
and silver nation like France can eX-
hibit no such individual fortunes as
abound in England, but it has peas
antry that with their silver savings can
pay war indemnity that would have
beggared the GOLD bankers CT London.
and to which the peaSantIy of England
could not have contributed a pound
silver.
1.-THE two metals had existed side by
side in harmonious, honorable compan-
ionship as money, ever since intelligent
trade was known among men. 1t is
well-nigh forty centuries since 'Abra-
ham weighed to Ephron the silver
which he had named in the audience Of
The sons of Heth-four hundred shekels
of silver-current money with the mer-
chants Since that time nations have
risen and fallen, races have disappear
ed, dialects and languages have been
forgotten, arts have been lost, treas
ures have persisted. continents have
been discovered, islands have been sunk
i'll the sea, and through all these ages
and through all these changes silver
and gold have reigned supreme, as the
representatives Of value, as the media
OF exchange. The reinforcement of
each has been attempted in turn, and
sometimes the dethronement of both;
s1,l