The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-10-23
WHAT Is RIGHT.

| We believe first that we are right, on
our own "unaided reasoning" Our sense
of right ami justice tells us this country
was originally intended to be n country
for the whole people and not to be run
i'll the interests of the few to the detri-
ment Of the masses. Our own "unaided
reasoning" tellsE US it is better for the
country TO run it's financial affairs than
to let 1t out to private corporations. 1t
also tells US that when a great debt WAS
contracted under a double standard, and
| by change Of such standard, the people
are obliged TO pay it under one of
| single gold standard, that is unjust
| legislation, for it doubles the debt to be
| paid By the debtor and gives to the
creditor twice his just due. The deduo-
| tions we draw from such is, that it is the
duty to go back to the same standard
that these debts were originally con-
tracted under, and here we have the
authority of long list Of distinguished
statesmen of both parties.
| What this country was originally In
tended for can hardly be determined by
| any body's sense of right and Justice.
That Is to be asoertained by the dsclara-
tions and acts Of its founders. However
| the Ages conclusion that it was intend
ed for the whole people is dou btless cor
rect though its process of arriving at it is
| faulty. For great many years. how
ever. after the government was founded
it5was controlled virtually by an oil
gaIchy and the masses had comparatively
| little to do with it. For nearly half a
century 1t was dominated by the South
a section which today is hot for free
silver and Bryan-which gained its
supremacy largely By the suppression
of the masses. Never did the whole people
have SO much voice in the government as
they have today. In every section of the
country except one, every man, be he
or farmer hAs the opportunity to freely
cast his ballot and have IL counted. The
one exception ia the South which is solid
for Bryan and free silver. In this SEQ
ton the masses OF the people are con-
stantly cheated out of their electoral
rights either by force or by fraud. II
Bryan is elected the majority of his cleo
toral votes will come from the South,
and his triumph will be the triumph of
the section. which, from the foundation of
the country has held and practiced the
doctrine that the few, not the many,
should govern. If the Belfast Ages
"unaided reasoning" leads it to hope to
secure the rights of the masses by placing
the government in the bands of section
that has always denied and abridged as
far as it could the rights of the masses,
it's reasoning needs assistance.
| Again the Ages 'tunaided reasoning"
Leads it to the conclusion that it is better
for the country to run its financial affairs
than TO let it out to private corporations
II by this the Age means that the govern
ment ought to engage in the banking
business then its reasoning needs more
assistance. sThe government ought to
supervise the banking business to the
extent of surrounding it with safeguards
for the protection of the public, but there
| it ought to stop. On the floor of the
| House of Representatives is about the
worst possible place TO determine the
amount of currency the country needs.
Banks of issue, properly guarded, are the
SOURCES from which orr currency should
come. observation-disclosures shows it, and
SO does the experience of every other
civilized nation. The amount of cur
rency country needs is commercial
question to. be determined by the needs of
business. But in the hands Of Congress
it is sure to become political question,
and be determined by considerations
which never ought to enter into 1t.
1t is quite true, as the Belfast Age
says. that the public debt was originally
contracted under the double standard
| iuaname, though not in fact, but it
Is quite as true that when it was CON-
tracted the silver dollar was more valua-
BILE than the gold dollar. Before 1873
| there would have been no Advantage, bur
on the contrary disadvantage. In pay
ing the dsht in silver. It would have cost
the country more to do so. The debt as
1t exists today was all contracted after
1878 and the money lent to the govern
ment WAS gold or its equivalent. There
is clear moral obligation resting on the
government to return the kind of money
it got. 1t got gold, it is only fair ana
| honest to return gold. The only reason
any body wants to pay in silver is because
silver having fallen the debt can be paid
more chcaply IN this metal We need not
undertake to say what the motives are Of
the people who propose to pay the bonds
in silver, but the effect of such payment
will be to cheat the creditor out of half
his debt. Anybody's unaided reasoning
ought to show him that this is not right.
The claim that gold has appreciated ia
not proven, and if it were it would not
remove. the dishonesty of the performance
that is contemplated by the silver men,
Gold will buy more of some things than
1t would In 1878 and of other things nc
more. 1t will buy no more labor. II
will buy more wheat because the COS,
of raising wheat has been greatly chea D.
ened, and the production of 1T greatly
increased. If gold were buying less than
in 1873 and silver the same, and the bond
| holders had paid for their bonds In gold
does anybody suppose there wouldsbe any