The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-11-01

resources, this country can use the
bimetallic standard with quite as much
success in the future as it has done
| in the past. Did the example of Eng
| land demonetizing silver, to which
our attention has been so frequently
called, produce any influence upon our
| legislation for the space of nearly sixty
years; and can the mere fact that
Germany has followed in the wake of
England bring about such mighty
| result as to force us to remove our
ancient landmarks?" / cannot believe
| it. The course of these governments
| did not cause us to demonetize silver.
1t was some other potent influence, |
| fear-the influence which is now clam
oring so loudly for the preservation of
1.-THE national faith. Our forefathers
paid but little heed to these monarchies
and their ideas of government when
they established Republican institu-
| tions on the continent. If they could
resist the power of monarchical gov
eminent then, why may we not quite
as well resist the moneyed influence
of these governments? The balance
of trade, which we have been able
| to maintain, chiefly by the power of
our cotton, will enable us with the
addition of some millions of gold coin
| to have large quantities of silver dol
| lars circulating among our people as
tasmoney, which most of them would
be glad to take, or acting as a basis
of bank bills, which will always
serve our purposes for general bust
ness far better than either gold or
l.silvera sTSE f#E 2B
| We ARE admonislged, ALSO, that IF
we fTemonetize silver the foreign hold
ers of our bonds viii send them back,
sandget rid of them in the market
because Of oar alleged bad faith. In
deed we are assured that the PROPOSE
| ton to restore 1.-THE dollar of our
| fathers" to its former place in the
coinage, has already had the effect
of returning to this country for sale
more than 10 per cent. of the bonds
which are supposed to be held in Eu-
rope. Why this is only a part of the
I shrewd scheme for soaring us into q
/ compliance with the demands of the
! bondholders and others interested in
| the monometallic standard. Let the
| bonds come, and let the holders sell
! them for what they. can get in gold
and take it out of the country. Tt
will come back again in good time.
Our own patriotic citizens will then
become the creditors, and surely they
will not attempt to do us any dam
| age. This is but threat; and shall
this great people-now happily in
state of national reconciliation which
the chivalrous gentleman from Maine,
| (Mr. Hale, )and some others, who 'smile
and smile,' protesting such desires
| for harmony they cannot destroy
yield their Judgment and their sense
of honor to such menaces? Let the
Representatives of the people keep in
view always the fact that they owe
quite as much to their own country
men as they do to the foreign holders
of our bonds, and mean, despite the
threats of drainage of coin. to be
! just to their constituents, and not
ruin them to please those whose only
care for US is that we may continue
to be laborers for the enlargement
of their own profits. Have not these
foreign bondholders now the power
with only a gold standard existing,
to sell their bonds if they choose and
take away the gold; land is any one so
simple as to believe that they would
hesitate one moment to do so if they
thought they could make money by
it? Do we intend to shape our finan-
cial policy at the beck and call of the
money kings of the world? If we do,
/ then the days of our liberties are
numbered, and the almighty dollar"
will become the "god of our idolatry,"
| and a ruler whose bosom will never
heave for any interest but its own.
/ know that some men think that
the duty of government is ended when
property is protected-for in their
eyes money can buy all things else.
This feeling has become more COM
mon since wealth mas become, con
centrated in fewer hands, and colossal
fortunes more frequently exist in this
country. The illusion should be dis
PEELED. Ii the great masses of mankind
are treated with justice by the law
making power, the priceless liberties
Of the people will be preserved and
then all interests will be secure.
I'll fares tine land, to threatening ills
prey,
Where wealth accumulates and men
decay"