The Lebanon express. (Lebanon, Linn County, Or.) 1887-1898, 1896-05-07
TONGUES FLOP.


in nomination for congress as a
Sound money" man and is now
being backed and run because of
his single gold standard doctrine,
even the 0regonian supporting
him, whereas it would not were
there a single doubt on the ques-
ton. Mr.. Tongue has completely
Topped on the subject without any
reason for it except political prefer
ment. Less than two years ago
in a letter in the 0regonian he
wrote lucidly on the silver question
giving splendid arguments in its
favor, sufficient to induce every
honest free silver republican voter
to vote against him now that he is
for single gold stanard.
Here is the bulk Of the letter.
HILLsBoRo, Or, Nov. 3, 1884,
Ito the Editor;-) I have read
with some care your editorials in
today's Oregonian, as well as the
one Of a few days ago, in which you
depict the terrible consequences of
either the free coinage Of silver,.or
coinage Of the product Of our own
mines. It is to be inferred from
these articles that the Oregonian
favors the present coinage laws of
the United States, and is ready to
WELD its powerful influence in
favor Of the continuance. Let us
look at those laws squarely and
see what they are and where they
are leading us. Heretofore our
silver mines have been q vast
source of wealth; they have
furnished employment to thousands
Of men, who became consumers Of
the products Of the labor of others,
and have furnished a good share of
the increased circulation needed by
. constantly expanding population
to do its increasing business.
Nearly all Of this has been over
thrown by legislation in the last
year. We have reached a condition
unknown in history. Our silver
mines are absolutely worthless to
us as producers Of money metal.
Il run to their full capacity, not
one ounce Of their products could
pass through the mints Of the
United States, or get into circula-
tion among our citizens as money.
Not a dollar Of additional silver
can get into circulation as money
except by redeeming a treasury
note. When the silver is got out
the treasury note is redeemed and
destroyed, and the circulation
remains the same. A vast amount
Of silver money is lost and des-
troyed every year by abrasion and
by accident, and there is no way
to supply the loss. Constantly
increasing population demands
increased silver circulation and the
demand is ignored. On the con.
trary, as the population increases,
the silver coin, by abrasion and
destruction, constantly decreases.
This will lead inevitably, if long
continued, to gold monometalism
With tariff laws designed to increase
our imports, while exports are
diminishing enormously in value,
the products Of our gold mines,
inadequate even to pay the inter.
est on our public, private and
corporate Indebtedness to Europe
what will bethe end? And where
will the supply Of money be
obtained2
A continuance Of this legislation
means constant retraction. Scarce
money means dear money, with
increased purchasing power; il
means decrease in the price Of
every other species Of property
real and personal, in the country
and in the city; it means decrease
in the wages Of all classes of labor
skilled and unskilled, manuel ant
professional. But worst Of all il
means an enormous increase il
indebtedness Of every class, publ,