The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1896-09-30

1
| Q.-"1hat was simply tecau,e the ratio at their
mint was rather d. lie ent one to the ratio in
| France, was It notg"
A.-"The ratio was 70 to =, and that 'ccmed to
be sufficient to give them gold Il had been so ef-
retve that in order to obtain the silver monty for
small change which was really required, they re-
sorted to the expe iient Of coming silver token
mcney alb .ut the year 1850, so as to give them
VIII silver they real, rcqui ed upon that footing "
On they had net oh ,nged thar laws IN 1873,
when they resumed cash payments, they uld
have resumed them on the basis of the two metals
would they not p
A.-"What would have happened in that case of
course it is somewhat diff, ut 20 fol out, but the
Legislation oiS73 quite delibt rate, and qui in
view Of return to specie payments"
Q.-"Aic you aware that after the President
General Grant had signed the law which changed
their standard from joint standard a single gold
standard, he was unaware If the provisions con-
tanned in the statute ?"
A.-"That is quite possible and yet it may be
quite true that the statute was deliberately passed
and fully explained to alt the people who hap ened
to take an interest in it at the moment That is
quite within my own knowledge"
Q.-"Atc You aware also that il is stouily Denied
in the Legis alton of the United Statesg"
A.-''But It is no ne denying it to any one like
| my self who knows the discussions Of the times.
may give you inst nee that in the latter part
OF 1919 or in the euly part of 1874, very long
l. eraI peared in the Econc nit from Mr. Fir, dIick
Hendricks who is one of the ab'est students of
m, notary matters that we have. In that letter he
gives full, expiration of the United Sta'es ltgis-
lalion, aud the objects of it, and out all the
different Cndctmen;s necessary to the undo rstand-
ing Of 1. The thing was not done in corner at
AL but every body who cared to know and who
was int, It sted in it, knew exactly what was being
dcne.'
Q-"You do rot include the President in thatg'
At is quite possible that the President, who
is a man mnch occupied with other matters, had
not q, en- his mind t. it, have doubt suii, lent
eNparatiors W re- put before him, hut 1.-THE did not
give his mind to it ! e might not recolhcl.'
Q-"As soon as tLe American people found out
what had b. en- done, di there not rise great ag
tation in An ericag'
Al think the pr, per way would be to say, as
ain pc, pie, who bin, ta lis's, found
out what way donc and as the agta-
ton of Mr.. Cernusch began TO make self felt gen
orally an agt.u II Wa, sl rel up resulting in the
bland act OF 1873. Bat that is al you can say.
there wos no general Indignation among the
American people, and there could MT be because
comparatively lew understood any thing about it
MIR. Everett 4 am afraid that belongs To mon
e. AIRY legislation generally. The key to gel Il great
de, 4 that has happened is that the conn,n peo-
pie do not unde stand 1t and the ovn'rs OF
money du.r
In. witness was then eNamil el as to oh.r mat
res.
1t of course awkward that Robert Gif-
fen, Of London, who thus vindicated the
bill of 1873, by testifying that all who
were really Inter, sted" on both sides Of
the Atlantic knew all about it, should
before the enactment was passed, have
also been aware that it would result in
contraction and falling prices. 1t is
awkard because Edward Atkinson, Con-
gresham McCleary, and free.trade gold
monometallists with them, are straining
the truth tremendously in vain and
iarcical effort to prove that an effect,
which is not only manifest, but was pre-
dicted with the certainty OF matEemati-
cal computation by the ablest gold stand
ard economist of the present time, is
really not in existance at all. While
the President of the United States Gen
eral Grant did not know that he had put
his signature to an act which struck
down half the money of redemption of
the Union he fought so hard to save;
while he was unaware that his signature
gave force to measure which placed
the shackles struck from sable wrists on
the producers aud labor of land in gen.
eral Robert Gilron, OF London, consult
ing economist of the British board of
trade, not only knew what that bill con-
tanned, but knew and figured deliberate
ly on its power as an agent to d stroy
the price OF that which American indus
try produces to sell. 1t matters not if
this or that member of the close corpor-
alton OF conspirators responsible for it,
did or did not drop an occasional word
in Congress for the purpose ofsubs quent
tricky appeal, stealthy advantage was
taken OF the trust placed by legislators
in their leaders and fellows, and that
trust was as deliberately betrayed to the
black shame of John Sherman and his
coadjutnrs, as Were the interests of the
revolutionary heroes by the military
treason Of Brndict Arnold. 1t needed not
the testimony of Robert Citizen to assure
the American people that those who were
interested" knew all about that Of
which their President was held in igno-
rance. John Sherman's accomplice,
Samuel B Ruggles, was in Berlin in 1868,
in the midst OF the war, negotiating with
Dr. Farr, London, the Registrar General
of Great Britain, and an associate of
Robert Giflen, aud with the gold going
out OF the Union Golfers he pledged him
self to farther a scheme to confne the
United States to gold payment OF war
debts thereafter, and to contract the
gold currency, as much OF it as was left,
by 81 per cent OF course Robert Giffen
knew. The interested" parties to the
transaction all knew. OF course it was
not done in a corner. London is no
corner, nor yet was Berlin corner in
1868, nor Paris in 1867. De Parieu, the
Frenchman knew, and 80 did Baron Won
Hook, OF Austria, the Belgian delegate,
Prince, the Swiss delegate, Feer- Helzog,
and one or two others of the interested, :"