The sun., 1896-08-09

senses, should hc warning Of the possible
tie. ahead o. our present free;silvcr Gr9nks n.
been seriously affected: but she was suffering
severely from tho defective state OF the cur:
James james The e country r,G was noodcd with clipped
and mutilatcd coins. In spite Of the most Sc;
that there were thousands OF persons who
| made q business OF clipping coin IF tho
stamp Of the Goyernment will make = Isrth.
| Of silver" thoy said, why. Is the stamp not
stlll good to mako tho shilling go Il 4 con.
talns only tcnpenco worth OF the netal?" In
other words, who Is going To stop and question
exactly how much below par coin is, when
every one knows II Is only fiat money In any
evil; only ono way 20 get back TO a solid basis
s5d restore 70 nny way Esd 10 re-
urday. May =, 1OoG. as the last day ON which
the uovcrnment would receive clipped silver
coin being usCd in trade. for there war little or
nothing To tako Its place. This brought to the
yet there was time. n mob that can only be
duplit atcd now at the Brooklyn end Of the
bridge when the cable is out of order. They
night. so that ii became necessary 10 ,all ont
the soldiery, TO preserve order"
On tho Monday following the final day Of
grace began the cruel agony Of a few months
which W was destined destined to be sncceeded by many
stSteen.to-on coins OF those davs were finally
man:. and time was left to heal the ravaeSs
alarrnsts of those days. the Aitgeids. Till
mann. and Dehscs, whom we have always with
Ito hoy orators" Of the e tine we 'iEd md SAVING f
The wealthiest and most intelligent kingdom
Of Europe will be reduced to the state OF those
barbarian communities in America. in viii II
m?eessins, With piece of venson" '''''
vailed. 1t was impossible to obtain. genuine
money. All tho old coinage vanished. and
upper classes lived chiefly on credit; even .he
richest could hardly pay their weekly bills. Man
ufacturers had great difficulty in getting coin
with good signatures became the common
means OF payment. The, financial conditions
paper money continued to circulate. but It's |
value fuctuated violently from day 70 day. |
- ten. pound note which had been taken in |
this dilemma Charles Montague suggested the |
,oln,, But for this the Government could |
not have been carried during the year. us |
he state Of tho gone The e money Sef tnsy s
I I these days saw heir opportunity and took
he warden Of the mint had HIS fingcr in The pic.
md did not allow the new money to get out
warden until Sir Isaac Newton was appointed
. the ofiice He dropped everything to nake
ho supply equal the demand. and 50 to ston
ngs of the working classes. He ron up the
output OF the mint until II reached n hundred
housand dollars a day. which was the amount
ssued on July I, 1905.
While IL was possible TO buy anything fo- |
he old debasci and clipned monGy. no per.
on would willingly nav out the fu,l-valuc |
DIN. and almost the entire issue was boarded
y. II thus became evident that until So much
ooa money had been issued that the capitalists
ould no longer { ford TO carry It all. there
9uld be no real return to sound money.
lacGulay informs u that 1t was not until
.ugmst. 1906. exactly 200 years ago this
lonth. that the kccnest observer could de-
,gt the slightest Sign Of returning prosperity"
Is this picture the stern light of n ship that
ns passed. Arc about to steer the same
purse OF financial folly2 And. If So. shall wc
ave another such scene as inc described in
losC days by MacRular? 4 bowling mob Of the
opul'st persuasion of those days. led by some
-ator Of the Bryan type. demanded from the
oNernment that il would take their debascd |
oIey. which it had issued in days zone 10y,
ld give them now coin for 1t. An astutc
cmier o Parliament Immediately CON
.ntcd. and asked them how much they had.
he, entire mob Of deluded free siivegites was
lahlc 10 produce more than SIS worth OF
lpped ha4f crowns. SOUND MONEY.