The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-27

"silver" or "shoe-pegs," instead of "dia-
monds," the question would be equally
pertinent. However, no matter what may
De the worlds article Of standard value,
IT viii surely tend to drift toward those
countries whose credit and reputation for
honesty stand highest. and who are less
Influenced by cranks, chimeras and polit-
ical demagogues.
%. If gold Is relatively scarce. and the
balance OF trade is against us, and the
world growing larger in proportion, and
the needs of business greater, how can
standard without a steady fail in all com
modities?'
Just as we could maintain any other
standard under equally discouraging cir
cumstances AS a remedy. suppose we
try the effect OF convincing the world of
our honesty beyond a question, and then
stop the reckless overprOduction of lead
ingly increases.
4. II contracts are made payable in
gold and all the commodities OF life con-
tinue to fall in price with the rise of gold,
does not the debtor pay more than he
ought to pay? Is II not rather dishonest
70 make him pay more than he really
contracts to pay?
This question perhaps exposes the root
Of all the fallacy Of the silver sentiment.
II you contract to deliver a thousand
hickory aX-handles, and receive pay for
them at stipulated price, you cannot
satisfy your contract by rendering a thou
sand hatchet-handles, simply because the
price Of hickory wood has gone up. II n
cotton planter buys a hundred tons OF
fertilizers to be paid for with fifty bales
OF cotton, he cannot, II the market is
higher in the fall, pay with thirty bales,
Tor he certainly would not dream of CIV
ing seventy bales should the price be
lower. Likewise. not one of these silver
fanatics who rave over the dishonesty
of being obliged to pay one hundred cents
for dollar of honest debt, would have
a word to say about the propriety of pay
hundred 1
eral prices We're now as much higher as
they are lower.
IS. Is it possible to maintain g. single
gold standard in this country unless we
abolish the tariff and put ourselves down
to a competing level with other countries
in procuring the business Of the world,
which Will alone secure the gold?
Why will alone secure?' Just let the
capital of the world feel secure, once for
all, that we intend 10 pay back honest ly
what we. owe, dollar for dollar, and the
gold will come here fast enough, and
come to stay mostly, too. And then bus
selves.
&c. It IS not true that silver and paper,
though they may exist in great quanti-
ties In this country. are really gold for
all the purposes of purchasing anything,
and cannot be had except by the standard
of gold?'
so long as the silver and paper money
are not in excess of our ability to main
tain up to the recognized standard, they
are a Ndludble part ol ouE currency. lUe
trouble will come when all restrictions
are removed upon the quantity to be
printed or stamped. We see that we
can keep a certain quantity as good as
gold, but 1t is perfectly preposterous to
claim that we could so keep an unlimited
quantity.
"a. How, then, can we continue to
maintain a single gold standard so long
as our government and people are IN
debt, without cramping US into ultima te
bankruptcy"
No other standard would be any better,
certainly not silver, for the gold would
go where 1t had better and shrewder
friends. So far from tending toward
bankruptcy, the country Is constantly
increasing in wealth. The financial world
Is indignant that country so rich should
be threatening to shirk part of its obliga-
tions. If the uneasiness grows, the drain
of gold abroad can only increase, ana as
capital is withdrawn, II means harder
times for all working classes. Probably
the farmers would be injured most OF ali.
Democritus.