The herald., 1896-10-31
sSSxSSSSSSSss1SSsSssssSSs
TO THE EDITOR
{ ACKNOWLEDGEMENTS
FOR THE coLoRED BRETHREN.

FOR THE COLORED BRETHREN.
Editor Herald: For the express bene-
fit of my colored friends please give
space in your valuable paper for the
following article from the Watchtower
of October, 1896, in reference to the de-
monetization of silver by the Republi-
can party:
Germany, England and Holland, cap
ital OF 100000 ($500,000) and Ernest
Seyd was sent to this country with this
fund as agent for foreign bondheolders,
to effect the same object. (The Bank
ers' Magazine, as quoted by Senator
Daniel of Virginia in a speech before
the United States senate, May %, 1S90.)
The official records of congress, under
date April 8, 1872, Congressional Globe,
speech of Congressman Hooper of Mas
sachusetts before the house) say: En-
nest Seyd of London, a distinguished
writer and bullionist, has given great at
tention to the subject of mint and COIN
age. After having examined the first
draft of the bill (for the demonetiza-
tion of silver) he made various sensible
suggestions, which the committee adopt
ed and embodied in the bill"
Mr.. Frederick A. Luckenbach at Den
yer, Colo, made affidavit that he first
became acquainted with Mr.. e. Seyd in
London in 1865, renewing his acquaint-
dilCe diIllOSt every year, dHu upoi edCl
occasion became his guest at one or
more times. joining his family at dinner
or other meals In February. 1874, while
at dinner at Mr. Seyd's house, the con-
versation turned upon the rumored cor
ruption in the British parliament, and
Mr.. Seyd then told MI. Luckenbach that
he (Seyd) could relate facts about the
corruption of the American congress
that would place it far ahead of the
English parliament In that line. After
dinner Mr.. Seyd took Mr.. Luckenbach
aside, and after making him pledge his
honor not to relate what he was about
to say, made this statement:
Il went to America in the winter Of
1S72-73 authorized to secure, IL / could,
bill demonetizing silver. 1t was to the
interest of those l representedAthe gov
ernor of the Bank of England-zto have
it done. 1 took with me 100000 ster-
ling, with instructions that if it was not
sufficient to accomplish the object, to
draw for another 100000, or as much
a5 was necessary"
The affidavit of Mr.. Luckenbach was
made after the death of Mr.. Seyd, on
May 6. 1892, before the clerk of the su-
preme court of Colorado. 1t would be
unjust to presume that all the members
of congress who assisted in passing the
bill knew that they were parpetrating
a great injury upon the nation (espe-
farmers of every civilized nation.) 1t
is probable, indeed, that considerable
of the money was spent upon a very
few, and that the majority were as
honest and as earnest as many of the
good and intelligent people who today
are deluded into crying out for honest
money when they are favoring the
very side of the question that has robbed
and is systematically robbing the peo-
pie by destroying the value of large
share of their money (silver) and maxi
ing the gold of double value-doubly
hard to obtain. The silver demonetizal,
ton bill when before congress was skild-
fully handled, and it's real object ana
intended effect were not appreciated,
apparently, by many congressman, who
have so declared. Among these are the
following prominent names: Senators
Voorhees, Allison, Beck, Conkling Com
gressmen Blaine (who at the time was
speaker OF the house,, Garfield, Kelly,
cannon, Bright, Holman and Burchard.
All agree in their testimony, given la
ter in congress, that they were not aware
that silver had been demonetized.
Senator Beck, in a speech before the
senate January 10, 1875 said:
1T the bill demonetizing silver) new
er was understood by either house of
congress. l say that with full knowl-
edge of the facts. No newspaper re-
POi tSi tiiCy diC lllc IIOSl VlRlldnI
men l ever saw in obtaining informa-
tion-dscovered that it had been done"
The very title of the bill was mislead-
ing. 1t was called AN act revising the
laws relative to the mint, assay offices
and coinage of the United States"
/ And President U. s. Grant, whose sig
nature made the act a law, it is said did
not know of it's character, and so de-
clared four years after when the effect
began to be apparent. Indeed, few but
the long headed financiers took much
notice of specie payments. and this was
supposed to be helpful, preparatory
step in that direction We may say that
the mechanical and manufacturing and
money interests of the United States
have suffered little so far, because their
share in the increased debts and inter-
est have thus far been largely Offset by
their cheaper food and clothing. But
the farmers ruin means the ultimate
ruin of the phenomenal prosperity of
the United States, because our manu-
facturers depend for a market on home
consumption, and the farm workers
number nearly 5000, 900 Of our total la
borers If these are poverty stricken it
will injure every business except bank
ing and pawnbroking. Further, 1t Is
conceded by all financiers that a ma
tion's prosperity is indicated by the ex-
cess of its exports over Its imports.
Farm products constitute over so per
cent of the United States exports, or
over $500. 900, 900 out of the same quantity
of farm products at silver prices( as be-
fore the demonetizat.on) would bring
nearly $500, 900, 900 additional capital into
the United States annually: enough in
two years to more than pay OF the ma