The times. [volume] (Richmond, Va.) 1890-1903, 1896-08-13

wee anu nisn Stdldihs an ~" -,
which they long VIII protect '"e =.
adverse criticism 10y our oppohen''
IAsA sSlator sherman sad the ev''-
traction OF the currency - ia' h'o.o
distressing operation tnan senators sup
nose. Our own and other nations ha'S
gone through the operation before. IL
IA not possible to take that voyage wl,h-
out the sorest distress. 10 every person.
.Nc,pt a. capitalist out OF dcot,Y or a.
salaried officer OF annultaIt IL - a
period OF loss, danger, iassitude Oh trace
rail- OF wages, SUSPENSION Oh enterprise'
bankruptcy and disaster. Ii meass rum
to all dealers whose depts are t"i"' the'r
business capital, though one-third ieos
than their actual property. IL means
the fall OF all agricultural procucuoh
without any great reduction Oh tdAes.
What prudent man would dare 20 v"h"
"A house. railroad, factory or IL pdn'
with this certain fact before him!
As | have said before, the saidried oii-
Ger referred TO must be the man whose
salary is iixed for life, aud not the man
whose salary depends upon business con-
di.ions. When Mr.. Sherman d.scriocS
contraction of the currency as hs's'
trous to all tho people. except the capi-
talst. out of debt, and those VINO sleiid
I'm a position similar to his. he is stauns
a truth which must be apparent TO oVery
person who will give the matter carefui
consideration.
Mr.. Sherman was at that time speah"s
~ rho contraction of the volume OF pa
per currency. but the principle which ne
set forth applies, IL there r. a contrac-
,io, ~ the volume of standard money of
the world
JAMES G. BLAINE.
Mr.. Blaine discussed the same pr'''eiP'e
Speaking in the House n Representatives.
on the 7th OF February 1873, ne Saiu'
II believe the struggle now gong on
in this country and other countries ior
gold standard would. If successful pro-
duce widespread disaster IN and through
ont the commercial world. The destruc-
ton Of silver. as money and the es,aD-
nshing OF gold as the sole unit or Naiue'
must have a rutnous effect on all forms
of property except those invested Nihch
had a fixed return In money. Ihese
would be enormously enhanced IN vaiue
and would gain disproportonate ana
unfair advantage over every other species
| Of poperty =,
Is # strange that the holders OF in
vestments. which yield fixed return IN
yer with complacency? May we not ex-
meet the holders OF other forms OF prop
ertv 10 protest against giving 10 money
"a ''dlsproportionatc and unfair advantage
over every other species OF property
II the relatively few whose wealth con-
sists largely IN fixed investments have
right 70 use the ballot 10 enhance tho
value Of their investments. have not the
| rsst OF the people the right 10 use the
ballot 10 protect themselves from the as
| astrous consequences of a rising stand
| ard2
The people who must purchase money
with the products OF toll stand IN a
positlon entirely dfferert from the POSI-
! tion Of those who own money or receive
a fixed income The wellbeing OF the
! nation-aye. Of civilization itself-depends
| on the prosperity Of the masses.
WHAT SHALL IT PROFIT US?
What shall it profit US to have dol
lar which grows more valuable every day
| il such a dollar lowers the STANDARD ol
! civilization and brings distress TO th'
people?
what shall it profit us If, in trying tC
raise our credit by increasing the par
chasing power OF our dollar, we destroy
/ our ability TO pay the debts ALREADY con
tracted by lowering the purrhasins
power Of the products with which thos'
debts must be paid
II it is asserted. as IL constantly IS as
| serted. that the gold standard VIII enaoi'
ms ~ borrow more money from abroad,
replv that the restoration of bimetallisn
! will restore the parity between money ant
property. and thus permit an era ct
prosperity which win enable the Ameri
can people TO become loaners Of money
instead OF perpetual borrowers. Even u
we desire 20 borrow. how long can We
! continue TO borrow under r. system which
| bv lowering the value Of property weak
ems the foundation upon which credi
| rests2
Even the holders Of fixed investments
| though they gain no advantage OF the ap
! probation of the dollar. certainly see th'
Injustice of the legislation which gives
them their advantage eyer those whos'
incomes depend upon the value Of property
| and poducts If the h0ldcs OF fixed IN
vestmenis will not listen to argument
| tased upon Justice and equity, | appeal Il
them TO consider the interests Of pos
terity. We DO net live for ourselves
alone. our labor. our seif-dcnial. and on
| anxious care-an these are for thos'
who are 10 come after us as much as 70
ourselves. but we cannot protect our chill
dren beyond the period of our lives.
DEMAND \ Is 70 RATIO.
Let those who are now reapng advan
tage from a vicious linsncial system re
member that in the years TO come thoil
own children and their childrens chill
! drcn may, through the operation OF thi'
! same system. be made 10 pay tribute Il
the descendants of those who are wrong
ed to-day.
As against the maintenance Of the sole
standard either permanently o.
temporarily, or other nations cal
be united for its overthrow. tn
| Chicago platform presents a clea
| and emphatic demand for the immediate
restoration of the free and unlimite,
coinage OF silver and gold at the Dresen
| legal ratio Of l6 to I, without waitini
for the aid or consent of any other ma
tion.
We are not asking that an experiment
be tried: we are insisting upon a return
| 10 a financial policy approved by th'
experience of history and supported b,
all tho prominent statesmen Of our ma
tion from the days OF the first Pres.
dent down 10 1873 When we ask that ou
mints be opened to the free and IN
| limited coinage of silver TO full legal
tender money we are simply asking tn
same mint privilege be accorded 10 silye
that Is now accorded 10 gold
When we ask that this coinage be a
the ratio OF Is 10 I We simply ask tha
our gold coins and the standard sIve
dolar-which. be n remembered con
iains the same amount OF pure silver al
,I. ill L. Int