Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1896-09-10
A Lesson From History.

ence. | know Of no way Of judging the
future but by the past."-(Patrick Henry.
Judge the future by the past.-lBryan.
Aug. 70
The United States has before 1t a
proposition to cheaper the currency
and thus, according to Mr.. Bryan's
promise, make good times. 1t is no
new thing. As far back as the 10Th
century England tried it and how did
it workP Knights History Of Eng
land from 1910 to 1851 tells how it
worked and says:
"In addition to the natural causes
which affected the market value Of
the necessaries OF life, there was a
cause not to be overcome by proclama-
ton and threat Of fine or imprison-
ment, that kept the corn in the barn
Of every man who was not compelled
to sell by the direct necessity. The
value Of money was SO debased at this
especial period, that an excessive rise
in the prices Of all laborers and arti-
ficers, not receiving proportionate
advance Of wages, all the ordinary
relations Of supply and demand were
disturbed to a fearful extent. King
Henry VIII introduced copper into
his gold and silver coin, not as a nec-
essary alloy, but as a fraudulent
diminution Of its intrinsic value"
The chapter goes on to relate how
the alloy was gradually increased,
raising the price of all vendible arti-
Giles, until a penny was decreased to
over 50 per cent in purchasing power.
Then follows:
1.-THE government could not remedy
the artificial high prices of home pro-
duce, nor preserve due rate Of for
eign exchange, till they (the coins)
became honest. Sir Thomas Cham
berlayne, our ambassador, writes
from Brussels to the council in June,
1861, that where formerly the English
pound was exchanged for 80 shillings
Of the money there, it would now
only obtain IA shillings. He warns
the government that while the money
was called down by little and little,
large sums forged and counterfeited
in foreign parts, would be carried
into the realm. He says that the true
value Of English goods could never be
ascertained, until such time as the
money were called down to the very
value in sterling silver which is in
each piece thereof. Such were the
inconsistent proceedings Of govern
ment which was endeavoring to force
sales at low prices, when its long con-
tinued acts of fraud had been the
main cause OF the excessive rise in
prices. We are required to believe
that the penny, in terms Of the labor
srs' necessities, to have been equal in
the reign Of Henry VIII to the pres
snt shilling But what was the lab
,rers position, when the three pen
MES day which he was to receive
under the act for wages of 1915, were
10 debased in real value that they
would be equal only to three half
)ense in 1915, and to three farthings
n 1862 The suiferings of the people
rom the consequent rise of prices
we're attributed to Enclosures, to the
Increase Of pasture, to higher rents;
ew saw the inevitable effects Of the
lebasement OF the coin. The advance
# all vendible things was unequal.
The advance Of wages, which could
lot depend upon the price Of food or
ther necessities, was necessarily dis
The wretched work.
Of the west and agri-
ulturists of the east-rushed into in
directions, and were slaughtered by
thousands. 1t has been usual to at.
ribute the rise Of rents and Of the
rice of commodities at this period to V
he influx Of silver from American t
hines. But the effect of that increase q
I the metallic currency of Europe h
'as undoubtedly much more grad v
al" G
"Judge the future by the past. a
he depreciation Of our currency, the g
listing Of cheap money on the ma
on, would mean disaster, suffering
nd panic-of which burden the labor . :,
lg and farming classes would bear :
lie larger portion. =,
All the Pom literature that il not VI