The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-09-27

shvlock set his head to the task of coin
ing fortunes out of the blood and tears
or proudj and sovereign people. Lin
coin soon saw that hc must 'depcnd on
some Other source than the capitalists.
ior IN the face of battle the cowurdly
Cold ileW away and the srccnbacli
S1ouldere1i the musket and saved the
Union.
Then shSlock succeeded In getting n
law passedfto make greenha cks recciva-
bile for all dues except tho custom dues.
l,he:l he secured the passage of an act
making bonds payable i'm coin. and un-
der the Mccullough act the currency
was contracted for his benefit by the
hurnin@ of 1.2UO.o00.0o0 OF dollars and
thousands of failures were caused
Money Is tool for the iuterchnnpe
OF labor. 1t is the perfection OF cx-
chahge. but if ii he contracted II rises
Money is measure OF value and cs-
necinilv of future values. 1t should he
- mat If l borrow to-day | will have
10 pav exactly the same principal i've
wears hence.
''Our friends the enemy. seem tn
think that money can only he sound
when II is dear. An pprcciating cur
rencv robs the debtor Just as d length
-ned Vardstick or other dishonest meas
nre would.
Now the quantity theory of money
Is ihht the more money there Is In pro-
portion 10 the population the less human
.1il must be sacrificed for q dollar. and
ne less money in proportion Ia popu-
,h'ioh the NOR" labor and products must
he sacrificed for that dollar.
For evenly or one hundred wears IN
England the ratio of silver and uold
never varied until in 1000 silver was lie
mon"tiIed. but with tho proViso TINT the
Sovereign might restore It, In 1870 thnt
right was abolished and silver dropped
NOW. l'ngltld being the great creditor
u ion 1, i
billions ana Sa00.U00,Do0 annual interest
naturally wanted us tn adopt the gold
standard too. why? Because she
wants American products mt gold prices.
therefore she took measures To accom-
nlssh her end. and IN 1870 John Sher-
man introduced Il bin in the Senate
abniishinp th" coinage of silver. Mr. r.,
~. Morgan mad" II minority report and
the bill was killed. Now. In 1879. that
same bill came up under the head of
a hill to codifv the mint law 1t was
IN section IL. that the free coinage of
sl"er was abolished. Now. assert that
that section was never read on thu, floor
Of The Senate Section II was killed ana
i6 became IL under the rules and the
records show that the clerk then called
section II.
AN effort was afterward made To re-
store The American dollar. MIR. Hoop
cr's hill under that instruction was un-
never read. Hooper lied to the House
and President Grant did not rea li2e the
import of the bill until several years
later when he was surprised that more
silver was not coming in with which To
resumed specie payments. (voice,
Were they all drunk?')
No" replied Mr.. Bell. "but they
made the American people drunk. oh,
nv friends the netization of silver
was IL crime and fraud that smells
to heaven and 1t will forever stink in
he nostrils of postcrity.
"NOW. IL has been proven that there
is no more gold being dug out of the
mines than is sufficient for rcparation
Of abrasion ana use in the arts. We
have no more money. but still popula-
tion is increasing at the rate of per
cent. wear.
"As the dollar appreciates property
dcpreciates. and we should legislate in
the interest Of our seventy billion of
oropcriv instead OF the six teen hundred
millions of gold.
but. say you the presidents of rail
wavs are debtors. Why should they
favor gold? Simply because the Eng
lish bondholders have got him by the
throat. as they have the Government.
And Mr.. ingalls, desires to save his job
and his LAWYERS desire to save their
iohs. so they all advocate the gold stan
dard. All your corporation lawyers are
gold men. Great applause.)
Now ii NIr. ingalls, were a free man
he would advocate the interests of the
people But he Is not. Tho bondholdcrs
own his road and he serves the road
He does not seem to realize that the
people whose products he must haul are
20 poor they can't ship anything. That's
why his road with others get into the
hands OF receivers.
The Interstate Commerce reports show
that these same railroads have within
the past few years increased the sa!arle-
Of their general officers - per cent while
their men have been reduced in amount
Of wages % per cent. and in numbers
90 600.
We can use all the silver our minis can
coin. 1t would take 10000 900 per wear
TO keep up with the increasc In pupula-
tion. Why is business dun? because
property Is going down and money Is
rising, and the man who has money
hangs OF to II and steers clear of proper
ty. But the gold men say Let's have
confidence" ON. yes: IL take cil!
of blood a day out of man. he'll after
a while consult a doctor But the man
dies Why? There's a whole tub or
blood, says the quack. Yes. but If is
not in the man.
Carlisle says business makes money
Not so; money makes business and
not until If supply of money Is suffi-
cient to back the possibilities of our
business Will we ever have prosperity.
We serve notice on you gold men
now that ii through some inscrutible de-
cree OF Providence Ryan should be de-
feated IN Nov, We'll renominate him