The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1896-08-15
a HOPELESS CASE
'rhe Present Debt Caanot Be Paid Oh IN


rhe Present Debt Cannot Be Paid on II
fIsp. TINES -MouxTAINEER:
| nave watched the progress of the
ol,eaary battle (Which seems To be
the paramount issue this year, and OBJ
serve aome thugs which 10 me are
very significant. The gold standard
press seems to deal more in invectiye
than argument, which has ever been q
sign OF weakness in any cause. I Oh
serve that the side known as free
silver|has presented argument never
successfully attacked, and is more often
avoided as q plague. The gold press
dodge it and it goes unchallenged, ex-
| cept to attack the personality Of its
authors by applying such epithets as
fanatic, heretic, silver loon and the
like.
For instance, I have never heard
this proposition denied: That gold is
| twice as valuable as it was prior and
few years subsequent to 1873. This
| merely means that it takes twice as
much wool, cotton, wheat, lumber,
and labor TO buy dollar as formerly,
just now the American people sre
straining-e nerve TO pay the bond
ed debts and interest thereon, and why
they should be SO ANTIQUE to maintain
the value OF dollar which takes twice
as much of their effort 10 get is incom-
prehensibie. To pay off that det't
under the present standard is hoDe
,iess. The late 1862 coo. COG bond issues
TO borrow gold) g test that the debt is
increasing, and is constantly growing
harder to pay. If prices continue TO
decline, Ia order to maintain the rs-
serve the bond issues will be sturen-
dous. Those who charge that free coin.
age means reputation ought To easily
see that the present course is leading
to bankruptcy, for time will core
when borrowing cannot be resnrted to.
Prosperity can never be restored by a
system of borrowing, and the threats
now so freely made to withhold capital
should possess- no terrors. On the
other hand the patriotic elements OF
all the great parties have combined to
re.establish the value of our money to !
what il vas when the tremendous deot |
was made, realizing that that is the |
only way in which-it can ever Jhe paid. |
1t is possible to pay principal and a |
reasonable interest; but the American |
people will fasten upon their necks 8 |
perpetual yoke of bondage if they en-
deavor to pay back double the princi- |
pal, with its doubled interest.
This situation was very cunningly !
contrived by the act of 1873. but the
masses are now beginning 70 under
stand it. By demonetizing silver, or
half the fundamementsi- supply OF
money, gold, the halt remaining,
doubled In value to meet the increased
demand, and forms the single standard
of republican Contention which Mr.. +
Bryan SO eloquently designates as the
''crOwn of thorns." II the situation
was reversed, if $4,000, 900, ,0G0 was
owing TO the United States, the mad
effort on the part OF so many tax
burdaDed and poverty-ssricken Ameri.
cans to keep the gold dollar worth
eco cents would seem sane (though in
hunan) because the motive would be
seifshness instead of suicide; but
-1r
thing they can raise across the water
to pay the interest on the bonded
debt, and then, failing, havs-to dip
into the gold reserve tpfnish paying
It, it appears that only idiocy would
inspire such a fanatical zeal to main Z
,ain gold's disteuded valve.
England is little isle ip the sea
whish produces nothing; she depends
III the balance of the worid for the
bulk of her food, clothing and raw
Materials for manufacture. Yet d
small cOteree OF coupon clippers IN
London levy tribute upoa the grandest |
'epublic of earth without firing u gum /
'ob her OF her natural resources, OF the {
product OF field and mine, and to
.rown the infamy, manipulate her {
people so as to help them cousummate '
he robbery by hypocritical!y appeal /
n 20 their sense of uatiu.z. honor. E
indeedi We reply, you {
lave oonfscated our possessions: You I
lave our gold, our annual output OF E
iotton, wool and wheat; you have one !
fifth of our land domain. But whom {
'ou double our debt by corrupting leg t
you overstep the bounds Of /
'rudence, and kill the goose which lays {
he golden egg. If read Alright the
igns of the times, Novemb Der will
mark the time OF reckoning.
OBSERVER. Z