The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1896-09-03

The gentlemen who are assembled
in Peoria to-day may be deemed the
creme de la creme of gold monometal-
lists. This is a fair estimate, because
their knowledge of the subject of coin
age is SO complete, their appreciation
of the benefits of gold monometallism
SO keen and sincere that they have re-
nounced friends and party, and are
to-day found reviliag their old politi-
cal associates and neighbors, calling
them anarchists, communists, repudia-
tors and fools simply because of their
monetary convictions. In view of the
fact that these distinguishe American
fnanciers have seen fit to assemble in
this campaign Of education, for the
purpose of explicating financial sub
jects, it is in order to call on them for
simple explanation. Their creed is
that gold monometallism is right be-
cause it is the monetary system of ad-
vancing civilization. The system a;
such was first adopted by England
shortly after the overthrow Of Napoleon
England then can rightly claim to be
the pioneer Of the particular variety
of monetary civilization which the
United States is to adopt and make
permanent on this continent. In order
then to get at the truth; to realize just
what England means by it; to compre-
hend why Engtabjaf abjaf proposes gold mon
ometalllsm for ..ltseft and her foreign
debtors, and silver nonometallism for
her great dependency, India; in order
to determine the real motive, the main
spring of this golden herald of ad-
vancing civilization is not amss to go
straight to English governmental rec
ords. Gold monometallism proposes a
'ssound money" compact between the
United States ard England, by which
the former, being the debtor, shall pay
the latter, being the creditor, in gold,
the particular variety of money which
both governments first OF all make
hard to get by reason of class legisla-
ton in its favor AS this is mani
fest loss to the people of the United
States it is eminently proper at this
time to ask the men who have renoun-
ced party and friends for the sake OF
advocating this English system in the
name of civilization how they propose
to reconcile truth, right, rational lib
erty and fair dealing between man
and man with the following disclosure
of gold monometallic coinage policy.
The testimony herewith appended was
subj itted to the India Currency Com
mittee at the India office, Whitehall,
London, on Wednesday, February IS,
1893, not ancient history by any
means. Lord Herschell, the chairman
of the committee, was presiding, and
among the members present were Cen
Strachey, Ex-Governor of the Punjab,
India; Sir Thomas Farrer, the Honor
able B. w. Currie, the Right Honor
able Leonard H. Courtney and Others
prominent in British India delibera.
tions. They were appointed by the
Queen to inquire into and report or
monetary affairs in India, and the fol-
lowing extracts are from the Govern
ment report, The testimony Of Sll
James Broadwell Lyall, whose term a:
Lieutenant Governor of the Puujab ex
pired in 1892, was examined, and the
sum of his evidence is taken from page:
36S to 374 of the report exclusive
Here it is:
Lord Herschell, the chairman tt
witness: "You have been Tor man,
! wears in the service of the Government
! of India?"
81 have"
"Of course you have had large op
portunities of forming an experience
as to how the native population woul(
be likely to be affected by change
made by the Indian Government. Yo
are aware that it has been propose'
that the Indian Government stop tn
free coinage of silver, that that Nigh
be followed by rise in the rate of es
change, and that it might be don
even with the intention Of creatin
such rise. Supposing that the Go,
ernment were to adopt such step
that, do you think that It would b
likely to attract the attention and
feet the minds Of any conslderab
class of the population Of lndla?'
"No; l don't think it would, II
were done in such way as not topr(
] yoke violent rise. If it were done
keep things very much as they are, c
Ito keep them about as they are, d
mot think that it would affect the mint
of any large class"
AThat is to say, to keep the e:
change at about its present rate,
! prevent it from falling lower?'
eyes"
"You do not think that 1t would
likely to excite any strong feeling:
+ "No; do not think that 1t would
"Dealing with that case hrst,
YOU think If the step were followed
heavy fall in silver, SO that Il
intrinsic value OF the rupee as silv
became much less than the fixed ratl
that attention would be excited, a.
that any feeling would be caused
"Of course it would affect a certa
number of people who have boards
silver, and it would affect all the PEI
| ants and people who have got hoar
| Of silver in ehe shape of jewels a