Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-05-15

il? The assumption that steers might,
by ves,ing them with the legal tender
quality, be worth more than the gold
unit, though only admitted for argu-
ment, Is a tacit acknowledgment Of
the great advantage which the debt
paying quality imparts to anything.
steers are deficient in the very essen
tials, however, which serve the pur-
poses OF Wall street. Flesh and blood
cannot he boarded; bone and sinew
wear out with age; they cannot he
placed behind time-lock and their
value increase with every moment OF
flying time. Silver could meet these
requirements, were it not relega:ed to
another use, to loan on paper bearing
a gold clause for redemption.
The Colonel attempted to draw some
solace for labor from the fact that the
dollars purchasing power under the
gold standard had increased, and this
would probably be satisfactory to the
poor laborer if he had any means of
reaching the dollar; but as admitted
by the speaker the vast preponderance
OF credit over redemption money has
so disturbed popular confidence that
there are not many who are willing to
place the dollar which is capable of
doing so much within his grasp. The
Colonel dwelt at considerable length
on statements to controvert the idea
that reconciliation of silver would
hurt the money-lords to the value OF
one cent. "They," he declared, "are
protected by the terms OF their bond
which reads principal and interest
payable in U. S. gold coin.'" If this
be true, why have we heard so much
from gold-bug orators and subsidized
newspapers about the silver dollar be-
ing an unsound dollar, and why has it
been declared a dishonest act to re-
monetize silver. if no advantage can
be taken OF restoring the debt-paying
quality to silver, in contracts already
made? Why are the gold-bugs empty.
ing their sacks so lavishly to maintain
the gold unit if their holdings are not
liable to any shrinkage from a policy
that is fraught with so much good to
the masses? The fact is, that with
silver remonetized, there would be no
disposition on the part of moncy-lend-
ers to enforce the gold-clause in exist
ing contracts, because the parity OF
gold and silver will have been restored.
When the standard silver dollar is
made the unit of value, as it existed
prior to 1873, and it is afforded its
old-time mint privileges, there will be
very few money-lenders who will care
to enforce the specific contract clause
authorized by statute OF 1878, known
as the Bland act. The money lender
will have lost nothing, unless it be
upon mortgages unforeclosed, which
will be redeemed from the enhanced
values given to all property, an appre-
citation which will ultimately place
property values to where they were
before measured by the golden yard
stick.
The Colonel talked, and talked and
talked, for two hours-and said but
little. The little said was in keeping
with the points reviewed. 1t was the
veriest sophistry, linked with the most
reckless assertion. But, then, he did
we'll, from gold-bug standpoint. He
threw dust-not gold dust, however
into the eyes OF his auditors; he
"killed time" to extinguish the inter-
rogation points that early in the dis
course cleaned from the eye OF many
an interested listener, and he has
made a record which he fondly hopes
and with good reason-will be in
line with the policy of his party at St.
Louis. So it will be we'll with him
should gold-bug sit in the Presidents
chair, and he will be able to get
even" with his enemies while he re-
sumes his old grip upon the teat that
has made him so fat.