The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1896-04-16
ANSWER TO GOLDBUGS
The Denver Chamber of Commerce Has
Its Own Say.
CAUSE OF DEPRESSION STATED
A Caustic and Pointed Reply to Cir
cular Sent Out by the New York
Chamber of Commerce.

A week or two ago the New York
chamber of commerce had circulated
through the country an appeal to all
commercial bodies, bankers and citi-
zens generally to organize and use their
influence toward the control of the ma
tiOnal conventions in the interest of
the single standard. 1t is gratifying
to know that one chamber Of commerce
has taken up the gauntlet, and the fol-
! lowing answer, from Denver, will do
much to prove that the west is unit
| for free coinage:
The belief of the chamber Of COM
merce of the city Of New York as 70
the political duty Of commercial bodies
and business men has recently been
made the subject of manifesto to
which the Associated Press has given
wide circulation. That distinguished
body, chiefly composed of the bene-
flciaries Of gold mono-me' ISM and
conscious of the widespread .ssatisfac
tion with existing cond ons conse-
quent upon the disastrou financial pol
icy OF the administrat-' i, appeals to
commercial interests everywhere to
eliminate from the platforms of both
the great parties the only issue before
the people This done, the mischief it
deplores will, i'll its opinion, be
averted
The chamber of commerce of the city
of Denver, equally concerned for the
general welfare and impressed with the
| tr,,f of itc Of oil Io1
that the time has come for movement
Oh the part Of all consumers and pro-
ducers to seriously ask whether it is
well to longer pursue policy which
has wrecked the prosperity of the ma
ton, added more than $500, OOO 900 to
our interest bearing debt and reduced
values below the cost of production, or
return to the unrestricted use of gold
and silver at the lawful ratio as COM
mon money Of redemption.
We must remind you that not sim
gle promise or prediction Of the gold
standard advocates has been verified by
the logic of time. In 1878 you were
warned that government coinage of sill
yer would debach our currency aud
drive out gold. While the practice
continued money was stable and plen-
tiful, and gold flowed to our shores in
abundance. In 1890 you heard the
same thing, but perceived no monetary
disturbances until the treasury depart
ment was induced to define "coin'' to
mean gold and "parity' degradation.
In 1893 you We're told that the repeal
Of the purchasing clause alone stood
between you and reviving business in
1894 the greenback must be retired be-
fore you could hope for improvement,
and thnn only If tho ,,f 1vo,,1l al,
dictate it's note-issuing powers to the
bankers of the land "Agitation" is
now assigned as the course of progress,
and that, too, must cease or the cause
of a self-styled honest money may be
defeated.
We take issue with the assertion that
a continuance of the agitation in favor
OF the free coinage of silver has re-
suited i'll an enormous or any cost to
the government, or that it stands in
the way Of a revival of confidence and
national prosperity. Public obligations
are payable in coin of the standard
value Of July IA, 1870. Congress and
attorneys generally have declared them
to be SO payable. Observance of the
law by administrative officers in the
public interest would have made gold
raids upon the treasury impossible,
DOnd issues unnecessary and bond syn
dicates unknown. Eastern investors
boarding greenbacks to buy gold and
holding gold to buy bonds, have left
southern and western producers moth
ing to borrow and to circulate among
their exchanges but the bank note and
silver certificate. Nothing Islands in
the way Of confidence and prosperity"
but the dealer in public securities, who,
deploring their issue, demands more
OF them, those who believe the nation
, can expand only by lettering it's limbs
with gold, those who would deprive
the government of it's paper issues and
those who denOunce agitation because
they fear it.
We are in full accord with the senti-
ment that the time has passed for any
haltlng OF doubtless phrases to ex-
press the meaning Of political parties
upon any public question. Equivoca-
tion will not satisfy the requirements
of the hour. The issue is between the
producers Of wealth and the manipula-
tors of exchange. Prosperity is impos-
sible without a sufficient and stable
money circulation. This can only be
secured by the free coinage Of gold and
silver By destroying the latter we
have placed bounty upon the stable
products or silver using lands and COM
PEELED them to manufacture for them
selves. They are progressive; we are
stationary. We cannot improve our
condition by causing an honest money
that is dishonest, on by denOuncing "a
cheap currency that is not cheap. We
earnestly invite the cooperation of all
in the effort to convicne the people that
the free coinage of gold and silver is
the primary essential to permanent
improvement and the continued de-
graduation Of silver can only benefit our
foreign competitors, the lenders, the
annuatants, the possessors of fixed in
comes; and must ultimately destroy as
it now seriously Injuries the welfare of
the nation and the citizen.
Henry P. Steele President.
M. G. Jackson, Secretary