Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-10-30
GOLD STANDARD PROPHETS.
Their Promises 10 the People nfulfilled
and Their Purposes Made Plain.

AuflT fTOllliStr TO tile ttoi'it I
and Their Purposes Made Plain.
Underneath the fim>y disguise which
the moncy power has assumed in this
campaign tie real explanation Of the
fight which j. t'ing mad" with 50 much
bit' II, - "a frco coinage can be dis
tinctly Observed. Expressed IN !; mt
shcil, ii j. JIG thing more or l. IS than u
deliberate scheme on the part of the
money power To contract the nation
currency, and the single gold STANDARD,
Though calculated To produce great
havoc, is only ono Of the methods ty
which this result is to he obtained.
TO fully establish the truth Of this
statement, il is only necessary to cite the
former contentious of the money power
and contrast them with its present atti-
tuGc on the money question.
Three years ago the same men who
are now advocating the single gold
standard as remedy for existing evils
Were Clamoring for a repeal of the pur-
chasing clause Of the Sherman act. 1t
was claimed hy these false prophets that
a repeal Of that clause would restore
national prosperity and impart healthy
tone to business all over the country.
They furthermore insisted that nothing
else was needed to promote the welfare
Of the American farmer, and that lust as
soon as the purchasing clause of the act
was repealed he would begin to reap the
just reward of his labor
One Of the most conspicuous of these
prophets who is now engaged in up
holding the single gold standard, Dr.
Chauncey NJ. Depcw, expressed himself
in un interview published III the New
York Tribune, July %, 1898, as fol-
lows:
The repeal OF the silver purchase clause OF
the sherman net OF July II, 1897, will release
money here and bring money from abroad II
Will do infinitely mOrc-it will permit the use
Of credits. which are now so fcarfully curtailed
and which constitute rs per cent of the cur.
rency of the country.
Such was the earnest fight which the
money power Of the country made in
favor Of repeating the purchasing clause
Of the Sherman act that the day was
carried and the clause in question was
repealed.
But what was the result? Did money
Immediately begin to circulate in this
country, as DIR. Depew and his col
leagues so glowingly predicted? If it
did, the laboring people failed to ex-
perience the satisfaction of having q
single dollar added to their yearly earn
ings. On tho contrary, their wages were
reduced, and as much suffering never
prevailed among the masses as during
the years which have since followed.
The farmer has met with ono disaster
after another, while his crops have net
ted him far less than the care and labor
bestowed upon them should command.
Merchants have likewise suffered from
the paralysis Of hard times, and failures
without number have been recorded in
all parts of the country. Establishments
both large and small have been forced
to the wall Oh account Of the stringency
of the money market, and many banks
have found it necessary to suspend bust
ness. 1t is no exaggeration to say that
such period Of stagnation and depres-
sion has never been known in this coun-
try as the one which has followed the
repeal Of the purchasing clause Of the
Sherman act.
Notwithstanding the utter and ridicu-
lous failure which they have made as
prophets, the same men who advocated
a repeal Of the purchasing clause three
years ago now come forward with
brazen audacity and uphold the merits
Of the single gold standard.
Having been deceived once by the
spurious logic and affected patriotism of
these men. the people are not apt to be
so easily deceived again. Moreover.
they have made thorough study of the
money question, and they realize the
fact that national prosperity will con-
tinue to be dream and q delusion until
silver is restored to it's former place in
the currency Of tho nation.
Should the money power succeed in
this outrageous scheme to defeat BIZ
metallism, the next step in order will
be to retire the greenbacks.
In spite Of the frantic appeals which
these false prophets are now making,
the people Of this country will not allow
themselves to be deceived again. In
stinctively they recoil from the single
gold standard, and the more they study
it the more abhorrent it becomes.
When gold and silver were both car
ried to the minis under equal condi-
tions, this country prospered as it never
has since, and the farmer realized q good
price for everything he produced.
Until this condition is restored there
can be no permanent national prosper
ity.-Atlanta Constitution.