The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-01-01
GOLDBUG FALLCIES AND FALSE
HOODS

ONE OF the most ABSURD Scre6QS YET
put forth by the gold standard organs is
the statement that "the law now allows
anybody to get silver for greenbacks
who prefers silver to gold" And the
question is asked, why the devotees of
silver do not avail themselves of the
law?
There is a number of reasons why
they do not The principal one is that
the "devotees of silver" do not want
either gold or silver in exchange for
greenbacks. They prefer the paper cur
rency. 1t is the bankers and money chang
ers, the devotees of gold, who avail them
selves, not of the law. but of Mr. Car
isles construction of it, and receive gold
for greenbacks with out the necessity of
demanding it.
But what authority have the gold or
gans for saying that the "devotees of sill
yer" can have their greenbacks redeemed
in silver if they demand it? 1t could
not be done in 1898. During, that sum-
mer, when silver went to a premium
over all other forms of currency, people
naturally became anxious to get il. They
took green backs and Sherman notes to
the treasury and presented them for re-
demption, demanding that they be paid
in silver. Did they get it? No indeed.
Mr.. Carlisle absolutely refused
to pay out silver even in redemption of
the Sherman notes, and the holders were
forced to 60 out and exchange them for
silver certificates. When these were pre-
scented, the secretary of the treasury, no
longer seeing any way out of it, re-
deemed them in silver dollars, but did it
under protest even then, and publicly
announced that he would have
preferred to redeem the silver
certificates in gold if he had
been permitted to do SO. This might be
one reason for not presenting greenbacks
for redemption in silver if it were other
wise desirable.
The above is history and the statement
by gold organ that ":no silver has been
sought as redemption for either green
backs or other notes payable in coin" is
false.
1t is argued further that it is useless to
endeavor to force silver into circulation
when trade refuses to take it? To be
sure the people prefer paper silver GER
| tificates to silver dollars for convenience,
but nobody has refused to accept silver.
The height of absurdity is reached,
however, which it is stated that 'notwith-
standing that the government has done
everything the silver interest has asked
it to do to keep the two metals at par as
| money, the failure is monumental"
| Now, it is well known to everybody
who has given any attention to public
affairs that the government has studious-
| ly and persistently done everything pos
sible to prevent the two metals from
reaching parity. The first move was
to demonetize silver in 1878. The Bland
act passed in response to popular clamor
unexpectedly to its enemies restored the
| parity, SO something else had to be done
| and the Sherman law was passed. As
this did not create as wide breach be-
| tween the two metals as was desired, the
| final blow was given in its repeal and the
| declaration that all government obliga-
tons would be paid in gold and refusal
to pay out silver on any account what
ever. The article herein quoted from
closes with a reference to the standard
money of the world. As there is no such
thing as STANDARD money of the world"
| there is nothing to be said on that score.