The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1896-08-08
MoRGANTowN, VIRGINIA,

IA, 1870: explicitly declared so. and
declared so in the interest of the pub
lie creditor, and the declaration insert
ed in the very body of the $500, 000,-
900 of bonds that have been issued
since that date. Beyond all doubt,
the silver dollar was included in all
the standard coins of that public act.
Payment at that time would have been
as acceptable and undisputed in silver
as in gold dollars, for both were equal
ly valuable in the European as well as
in the American market. Seven
Fights of all our bonds owned outside
of the country are held in Germany
and Holland. Germany has demone-
tiled silver, and Holland has been
forced thereby to suspend its coinage,
since the subjects of both powers pur-
chased our securities. The German
empire, the very year after we made
our specific declaration for paying our
bonds in coin, passed law destroying,
so far as lay in its power, the value of
silver as money. do not say that IL
was specially aimed at this country,
but it was passed regardless OF its eff
feet upon us, and was followed, ac-
cording to public and undenied state
ment, by large investment on the
part Of the German government, in
our bonds, with a view, il is under
stood, of holding them as coin reserve
for drawing gold from us to aid in cs-
tablishing their new gold standard at
home. Thus by one move the German
government destroyed, SO far as lay in
its. power, the then existing value Of
silver as money, enhanced consequent
~, the value of gold, and then got in
position to draw gold from us at the
moment of their need, which would
also be the moment OF our direst dis
tress. do not say that the German
government, in these successive steps
did single thing which it had not a
perfect right to do, but | do say that
the subjects of that empire have no
reason to complain of our government
for the initial step which has i'm
paired the value of our standard coins.
The German government, by joining
with us in the reconciliation Of silver
can place that standard coin in its old
position, and make it as easy for this
government TO pay and as profitable
for their subjects to receive the metal
as the other
II do not fail, Mr.. President, to
recognize that the committals and
avowals of senators on the question
preclude the hope of m5 substitute be-
ing adopted. do not indeed fail to
recognize that ON this question / am
not in line with either extreme-with
those who believe in the single gold
standard or with those who by pre-
mature and unwise action, as ! must
regard it, would force us to the single
silver standard. Either will be found,
in my judgment, great misfortune in
our country.
"We need both gold and silver and
we can have both only by making each
the equal of the other. 1t would not
be difficult to show that, in the ma
tions where both have been fully rec
ognized and most widely diffused, the
steadiest and most continuous prosper
ity has been enjoyed-that true form
of prosperity which reaches all classes,
but which begin with the day laborer
whose toll lays the foundation of the
whole superstructure of wealth.
1.-THE exclusively gold nations like
England may show the most massive
fortunes in the ruling classes, but it
shows also the most helpless and hope
less poverty in the humber walks OF
life. The gold and the silver nation
like France can exhibit no such indi-
vidual fortunes as abound in gold
nation like England, but it has a peas
antry whose silver savings can pay
war indemnity that would have beg
CARED the gold bankers of London,
and to which the peasantry
of England could not have contrib
uted pound sterling in gold or even
a shilling in silver.