Smyrna times., 1896-07-15

like this could not fail to affect every
bank, and, consequently, every COM
munity in this once-free country.
And the panic came, just as surely as
storm clouds gather the rain.
There is no financier of intelligence
who is not Laughing in his sleeve" at
our folly. There is not a European
Government which follows our example
in paying out gold for all obligations.
Nor need we, if we but exercise some
of the saving common sense inherent
IN the American people. There is but
some 5000, 100000 of gold, all told, in
this country and nearly three times
that III obligations. How, in the name
of an outraged people, can we perform
such a miracle as to make one dollar
pay for three? 1t is an human impos-
sibility. We can, however, follow the
good example of France, and use the
bOuntiful store of silver with which
the Almighty has blessed this broad
land, in paying our just debts.
Why would free silver be beneficial?
Because, when money is plentiful it
circulates freely, and work, wages and
prices rise to a point where good liv-
ing is more than possibility. Would
not foreign bondholders simultan-
eOusly insist upon the return of their
securities, if we, like France, paid them
NJ IN T.,
the first place they cannot be paid en-
tirely in gold, because we haven't
enough gold to do it with; unless, in
deed, we keep up our present ruinOus
policy of selling bonds to buy gold,
with which to satisfy the maws of
these money cOrmOrants. In the sec
Ond place, bonds are not subject to
recall before they mature, and most
assuredly not the thirty-year bonds
for over 500, 100000 recently issued,
to the nauseous disgust of the nation.
In the third place, they have already
gorged themselves so full of plumber,
have these ShylOcks, that doubt if
they, like well-stuffed turkey, have
room for more.
Finally, Mr. Editor, is not that
metal, used as legal tender from the
foundation of of this country until the
conspiracy of 1873, not good enough
for us yet? Did Daniel Webster know
what he was saying, when, in one of
his speeches he made the following
emphatic statement: "Gold and silver
are the standard money of the Consti-
tuition, and neither Congress nor any
State has the power to alter that
standard. ="
To sum up the situation: Money is
not a commodity, but representative
of value given or received. That silver
should be restored to its former posi-
ton, and that the banking monopoly
should have its nefarious operations
curtailed by law.
1 much fear that the depth of this
popular movement for the free coinage
of silver has not been fathomed.
When we behold the lightning's glare,
and hear the thunder resound under
the dome of heaven, we know that the
storm is nigh at hand, nor are there
wanting dark clouds across our polit-
ical horizon, to warn us of a coming
tempest. 1 think, sir, that between
the determination of the thieves not to
let go their plumber, and the Over-zeal
of some of the silver adherents, it will
require an almost sublime effort of
American prudence, patriotism and
devotion, to rescue us from our peril.
In the day of storm, in the crisis of
the peril, in that supreme moment
when manhood and intelligence are
imperatively demanded, let us believe
that our nation will be weighed and
not found wanting. J. H. G.