Evening journal., 1896-09-10

The Dollar of Our Fathers.
The dollar Of our fathers, about which so
much is said. was an honest dollar, silver main
tanning l. full parity of intrinsic value with
gold. The fathers would have spurned and
ridiculed proposition to make silver dol
lar worth only 53 cents stand of equal value
with a gold one worth 100 cents. The expert
ence of all nations proves that any deprecia-
tion, however slight, of another standard
from the parity with gold has driven the
more valuable one out Of circulation, and such
experience in matter Of this kind Is worth
much more than mere interested speculative
opinion. The fact that few gold coins are seen
IN ordinary circulation for domestic uses Is no
proof at all that the metal is not performing q
most important function in business affairs
The foundation of the house is not always IN
sight, but the house would not stand an houi
if there were no foundation. The great engine
ry that moves the ocean steamship is not al.
ways IN view Of the passenger, but il is. all
the same, the propelling force Of the vessel,
without which it would soon become worth
less derelict
1t may be instructive to consider moment
how the free and unlimited coinage Of silver
would affect a few great interests, and ! mon
tion only enough TO demonstrate what ca
lamity may lie before us If the platform form
ulated at Chicago is permitted to be carried
out.
There arc now on deposit in the savings
banks of 30 states and Territories of this Union
the vast sum Of 81, 00O 0O0, coo. These are the
savings Of almost 100000 depositurs. In many
cases they represent the labor and economies
Of years. Any depreciation in the value Of the
dollar would defraud every man. woman and
child to whom these savings belong. Every
dollar Of their earnings when deposited was
worth 100 cents in gold OF the present stand
ard Of weight and fineness. Are they not enti-
tied to receive in full, with interest. all they
have 80 deposited? Any legislation that would
reduce it by the value of a single dime would
be an intolerable wrong to each depositor.
Every bank or banker who has accepted the
earnings of these millions of dollars to the
credit of our citi2eas must be required to nay
them back in money not one whit less valua-
BE than that which these banks and bankers
received in trust
There are in his country nearly 6,010 build
ing and loan associations, with shareholders
to the number Of l.6COoO0 and with assets
amounting 20 more than S500O00, 900. Their av-
erage of holdings is nearly $500 per capita, and
in many cases they represent the savings of
men and women who have denied themselves
the comforts of life in the hope OF being able
To accumulate enough to buy or build homes
OF their own They have aided in the erection
of over l,OVJO50 houses. which are now af-
fording comfort and shelter for 8, COO O0O OF
our thrifty people.
equivalent to Confscation.p
Free coinage at the arbitrary rate of lo
ounces Of silver to of gold would be equiva-
lent to the conhscation OF nearly half tho saw
inga that these people have invested. It would
be tantanount to a war upon American home
makers. it would be an invasion Of s.the homes
Of the provident' and tend directly to .'du.
stroy the stimulus to endeavor aud the com.
pensation Of honest toll Every one Of the
shareholders Of these associations IS entitled
to be repaid IN money Of the same value
when he deposited 10y weekly payments OF
otherwise IN these companies. No one Of them
l.a Ia
party demands a change in the money stand
ard Of our country as on experiment or as a
concession 20 selhshness or greed.
The magnitude OF the disaster which would
overtake these and cognate interests becomes
the more strilSingly apparent when considered
IN the aggregate. Stated broadly the savings
banks life insurance and assessment compa
nias and building and loan associations Of the
country hold in trust sl5, 800, 9l7, ,3el. The de
basement Of the currency 10 a silver basis, a.
proposed by the Chicago platform. would wipe
nut at one blow approximately 81 e0d, 5Ol, sos OF
this aggregate. According 70 the report OF the
department of agriculture, the total value Of
the main cereal crops in this country in 1894
was sQe5 43s, l07. So that the total sum belong
ing 70 the people and held IN trust in these In.
stitutions which would be oblterated by the
triumph Of free and unlimited silver coinage
would be II times the total value OF the an
nual cereal crop OF the United States. The to
tai value Of the manufactured products OF the
country for she census year OF 1880 was sq.372
531. 2t3. The establishment Of a silver basis OF
value as now proposed, would entail a loss to
these three interests alone equal 70 IS per cent
OF this enormous Ou&put Of all the manufac.
turing industries of the Union and would af,
feet directly nearly onethird OF ITS whole pop
ulation.
One hundred and forty millions Of dollars
per annum are due TO pensioners Of the late
war. That sum represents blood spilled and
sufferings endured in order to preserve this
nation from disintegration In many eases the
sums so paid IN pensions are exceedingly
small; in few If any, are they excessive The
spirit that " ould deplete those 70 the extent
Of a farthing IS the same that would organize
sedition destroy the pence and security of the
country. punish rather than reward our veter.
an soldiers and is unworthy Of the counte
nance, by thought or vote, Of any patriotic
citizen Of whatever political faith No party.
until that which met In convention al Chica.
60 hos ever ventured 70 insult the honored
survivors Of our struggle for the national life
by proposing &c scale their pensions horizon
tally and &c pay them hereafter IA deprecated
dollars worth only So cents each
The amounts due, in addition 10 the interests
already named 70 depostors and trust com
panies III national state and private banks t0
holders of FIRE and accident insurance policies
70 holders OF industrial insurance. where the
money deposited or tbs premiums have been
paid iu gold or its equivalent are so enor
come due for state municipal. county OF 9th
81 corporate debts that u paid IN deprecated
silver or its equivalent u would not only en-
TAI upon our fellow countrymen loss in
money which has not been equaled in q simi
lar experience since the world began but IL
would az the same time bring disgrace &c
cur country such as has never befhllen any
ether nation which had the ability 20 pay It's
honest debts IN our condition. and consider
ihe cur magnificent capacity for raising rev
snue' such Wholesale repudiation is without re
tesslty OF excuse No political expediency o.
gariN eXigeney. however pressing. poule Jas
niy So monstrous an act
Az these deposits and debts must under the
r,aitorm Of the Republican party be met and
adjusted IN the best eurrencythe world knows
sac measured by the same standard ~ which
'hs debts have been contracted OF .he deposit.
sr paynen.s have been made
Increase af Per Capita Property.
Still dealing spariugly with aeures. ot
which there Is an enormous mass 70 sustain
the position Of the advocates of the gold stand.
ard Ell value, cite one more fact wh,cb D. os
sciallv established. promised ~ the trrism
that there is nc better testuf the growth Of o
esaGtrys prosperity .har its increase in the
per capita holdings Of its population In the
decade getweea .sse and 1850 during which