The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-09

Il
Free Coinage of silver Yet Made-An
Exhasstivs Consideration OF the Subject.
| CONTINUED from Yesterday.\
| the last thrce years we are warranted In
assuming that 10 will he necessary to Issue
| . similar amount in the next three years,
| and that this will continue % go on. DO
| you think that this is the right policy for
| our government To pursues Every time q
bond Is issued the oppression of the men
| who toll Is increased. The interest on these
bonds Is not produced in the hanks or In
| the offices Of the cities IL has 20 come out
| Of the industry of the country. IL has 10
come from the products Of a country, and
the products of country are created by
the men who toll: the men who make
and cultivate farms, who build and oper-
ate railroads; the mon who build cities;
the men who do the work of the land; the
mon who make our civilization possible.
Tr l say 10 you that swallowtail coats
and big shirt fronts never yet laid the
foundation of empire; purple and fine lin
en- never yet built n mighty state; per
fumed handkerchiefs and bright ncckties
are not the forces that sustain the flag Of
our country In time of peril The people
who have Co pay the interest on these
bonds and ultimately have to pay the prin-
cipal whose sweat and whose toll have TO
produce the product to do it, derive not one
farthing's benefit from these bonds. The
men who get the benefit of these bond is
sues are the class of people who manage by
the aid OF government 10 lick the cream
and devour the fruit Of other mems indus
try. Let the American people follow the
suggestions of Mr.. Schurz, and our country
L.,
petuity, and the farther down the vista OF
time the American patriot glances the
darker will be the cloud and the heavier
will be the burden which his children must
face.
National Honor.
Mr. Schurz and Mr. Cochran wiring their
hsnds in horror over what they call the
prospect OF sullying the national honor and |
paying our obligations or the interest on |
our obligations in anything else but gold, |
and they point to the fact that In 1890 con-
Rrese declared practically that il was the |
policy VI this government 10 keep every |
thing on a gold basis; that the world had /
accepted this, and for us 10 disregard that |
declaration would place us In the light of /
repudiators and dishonest men before the |
world. Just sec how little substance it i
takes IN enable a rhetorician 20 fill the air /
with ghosts. When was our great debt /
created! Long before 1890. And what
kind Of money did we get for the bonds we
soldi We got paper for some and gold and
silver for the remainder. Neither Mr.. |
Schurz nor any other mortal has been able
10 point out wherein you wrong creditor
when you pay him In exactly the same
money that he gave you. Neither he nor
any other mortal has been able 10 point
wherein you do an injustice 70 any man
when you pay creditor in money that has
exactly the same purchasing power, that
will buy as much property Of any and ev-
cry kind and as much labor as did the
money he gave you. | will agree with Mr.. |
Schurz that a creditor should not be paid |
in money the purchasing power of which
Is much less than WAS that of the money |
that he gave to the debtor, but II it is dis
honest To pay creditor in money that is
cheaper than the money that he gave the
sebsor ask you and ask the American
people whether 10 is not dishonest to com
pei debtor to pay creditor I'm money
that has twice the purchasing power ms had
the money which he got from the creditorg
II paying the creditor In cheaper money
than he gave the debtor is liquidation,
ask whether compelling debtor to pay his
debt in money that is twice us dear "a the
money he got Is not robbery
Bonds Payable In Coin.
What are the facts? For both Mr.. Schurz
and Mr. Cochran carefully avoid referring
30 them. Substantially all of the bonds
and interest bearing securities Of the Unit |
ed States now In the hands Of our creditors
At home and abroad provide on their face
that they are payable not in gold, but In
II
coin. No man could possibly be deceived |
In buying one of those bonds, and, with
The exception of the bonds issued during |
his administration, they were not paid for |
IN gold, but were paid for in coin, which
meant gold and silver. What is true of the |
principal OF these bonds applies equally TO
The annual interest Every individual In |
The United States or in Europe that holds |
Dne of these bonds knew at the time he got
. that the principal and interest were pay
sble In gold OF silver Mt the option of the
government. You remember that little |
over year ago the president was so bent |
)n fastening the gold standard upon our
country that he asked congress to authorize
he Issue OF gold bonds which he said
'ould be fioated on a lower rate of interest,
)ut congress refused to do IT, Thereupon |
he government issued bonds of the same |
character TINT IL had formerly issued--that |
s, coin bonds-and, according TO the presi-
lent, they brought less money in the mar
Set because of the fact that they were not |
)ayable in gold The bankers got them
'heaper than they could otherwise have got
hem by reason Of the fact that they were
payable In coin and not in gold And yet,
n the face 81 these well known facts,
Messrs. Schurz and Cochran have the as
IN toll me fhut xs-,ll l,< i
'epudiation and Of sullying the national
honor IL we do not pay those bonds In gold
Suppose a man advocating the coinage Of
vtlver were TO stand before an Intelligent |
audience and make such an argument rs
that, what would they call hims As re-
member IL, one batch Of bonds was sold I'm
lhe market for about ELI, 900, 600 less than
The president assured us they would have
brought had they been payable In gold
Yet these bonds are, like all other outstand- |
ing bonds that were Sold cheaper by rca-
son OF the fact that they were payable In
gold or silver and instead Of the national
honor requiring us 30 pay those bonds In
gold national honor common sense and |
eternal justice alike forbid our paving
those bonds In gold II to pay them In gold
will cost this American people one dollar
more than II would to pay them in silver.
II ~ Is wrong TO uniustly withhold any.
thing from the creditor that Is due him
under the contract, then it IL crime 20
compel debtor to pay something that he
does not owe
Greenbacks. Etc.
But the bonds issued by the present adj.
ministration were issued for tho purpose
OF redeeming greenbacks and treasury
notes In gold, and we are told that 90 pur.
sue any other policy will be reputation.
Let us eco. These Rreenbacks and treasurv