Daily capital journal. (Salem, Or.) 1896-1899, 1896-05-07
MoNoMErALLIsM.
A Corr sspondent shows Up the Faliaeies
of Goldbugism.

aD,using to see the inconsistency.-thC
cont radictions the desperate sqnirnr
ings Of the goldbug press. II is
enough to almost make cne lose faitn
in the intelligence OF the American
penple, to think that they are reading
such lot Of Internal tommy-rot day
after day and year after year
swallowing II all, and never geeting
an linking of the fact that there must
he nlgger in the woodplle. There is
one way To account for this, and that
. is on the supposition that the financial
ouestion has been 50 beclouded and
befuddlcd by those ''grcat" persons
who have tried TO explain il on the
gold hypothesis that the people have
.concltldsd that the whole business is
too complicated for the Ordimry un-
'derstandlng to grapple with. So they
follow their leaders like "A flock of
Sheep, never stopping to look at any
|thing that is not pointed ont TO them
'by their masters, aud carefully re-.
.fraining from looking at even those
.things from any other point of view,
Excepting that from which they are
.frst shown them by the official guides
And do they not allow their faith in
|thelr guides and philosophers to be for
|an instant shaken when they see
their prophecies proven false and their
assertions controverted by the facts.
Not long ago they were telling us
'that fear of silver was destroying the
credit of the government, and that
WAS the reason that Mr.. Cleveland
'was Obliged to make such rotten
Bargain with the golden highwaymen,
alias the bond syndicate. Since the
last sale of bonds they have been
obliged to drop that cry. 1t was given
the lie direct by such an overwhelm-
ing majority that they have been con-
strained to send that particular piece
|of twaddle to the boneyard. A sub
.scription for six times the amount of
the bonds offered at better figures
than heretofore realized, and at the
very time when the United States
senate was, to quote the goldbugs, be-
Ing "held up by the silver fanatics"-
Mat looked like 'lack of confidence"
and "fear OF silver legislation" didn't
~? But did that knock any scales
trom the eyes of the gold-worshippers?
Hardly. There is no God but gold,
md the banker is his prohet. 'Phe
nomenons, under which head come
all anti-gold facts, don't count.
They harp on the amount of money
lying idle in the banks on account Of
r'lack of confidence" and "fear of sill
yer legislation" They tell us that
fhe owner OF money dares not let il
f'go out" for fear that he will not be
able to get back an "honest dollar"
They ought TO stop right there till
the next issue of the paper; but in
stead Of that, they try to pile up the
arguments, and, in so doing, they
prove too much. In the same ,column
they tell us that all this capital is
only too anxious TO get out at incred-
ibly low rates Of interest. All IL
wants is good security. But, they
Iell you with tears In their eyes, the
'nconsiderate persons who have Sc
Nnrity to give don't want TO borrow |
money. This latter fact also they |
necount for on the score OF currency |
Ngitation. You are afraid to loan
four money, for fear that you will be
Fepaid in dishonest" dollars-stin |
{on are more than willing to loan it |
pn any adequate security and at very
DIV interest. At the same time, your
neighbor declines TO borrow your
noney-because he is afraid that he
yin be enabled 10 repay you in dis
'nonest dollars? An, but. they tell |
|ou' he dares not borrow il 70 put into
pnsiness for fear of a general cata- /,
tlysm OF some kind.
| will tell you why he does not Dor
Ipw II. 1t is not the fear OF what the
silver fanatics" may accomplish; but
Nc fear that they may not accom-
Rlish anything, that deters him. IL