The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-05-28

silver bur the opposition was
able 10 partially frusirate the move
ment. The Bland Allison bill was
passed. but II limited the amount
70 be coined 10 from two 10 -FOUR mn
lions per month and IT did not MAKE
this full legal tender and the coinage
was not free as Il formerly was ana as \
that of gold is In 1890 this law was
repealed and the sherman law was
passed under which the governIntn'
purchased fortycight millions OF uoi
lars worth of silver every year anu
issued certificates against H. ln'S
added forty eight million dollars 20 our
currency every year and helped SIGN
~ 10 keep up prices. But Fresldeh,
Cleveland convened congress IN si''sai
session 10 repeal tins law IN 1873 anu =
further disturbance Of prices eh>usu,
The Indian mint continued coinage 2,
silver until June. 1893. and inside 81
six days from the day j cios,u
there was n fall in prices OF nearly
twenty-five per cent.
BEGINNING of the Movement
Although the subject had been mooted
before. there was no agitation ~ favor
of adopting a single standard unlil
about the beginning Of THIS century
when number Of writer's discussed ~
In 1902 Citizen Berenger. who had
been deputized bv the French govern
ment 10 make report on this question.
reported in favor Of a single slN"r
standard. Not gold. but silver. ser
enger was one Of the ab.eSt men thnt
have written upon this question, anu y
is noticeable that he advanced in leV-
practically all Of the arguments IN ia-
yor of a silver standard that nave since
been advanced In favor Of goli stan.
dard Like the single standard men OF
| today. he took the ridiculous poslti"h
| az fiercely contending that the govern
| ment could not increase or decrease the
purchasing power Of a metal-lhat 'l'e
| whole matter was regulated ny com
| merce-and yet. instead OF leaving y 10
commerce. he abored for years. IN sea
son and out Of season. 10 get the gov
eminent 70 adopt one metal ana STRIKE
down the other by law.
In 1915 Lord Liverpool succeeded II
getting the English government =
adopt the gold standard by law. ana M
principal argument in favor 81 y Ma'
thar the other nations of the world were
usin1 silver almost exclusively. aud i
England adopted gold and coined II II
denominations that were not in use II
other countries her money would ne less
liable 10 be drawn from the island. and
thar when II was drawn from the island
1, would have constant tendency .
return The idea Of getting an al
vantage over other countries by the use
~ cold was not then thought OF. lhi'
advantage arose later. out or the rae
Tia. England. having become the grca
commercial and ship owning nation OF
the world and London the great hhan
cial center. her people got the peneh
Of the exchanges and IN fime sot ths
benefit or al those advantages whlci
arc reancd by men who handle large
sums Of money and are IN SITUATION =
. compel Others to come and DEAF WIZ
them.
There were n number OF MINOR step
taken hv some Of the governments
which need not he noticed III TINS pr"
} survey. but the advocates OF slnGi
: standard increased in number ana wer
finally divided into three classes. VI
r LAS mat wanted uniformity OF coin
4 age in order 70 escape the contuSlo
8 r,-hfcb resulted from n great variety Q
e cotns issued hv different small primo
o nalities This class did not believe tina
' ,hare was enough Of either metal in ia
a world 10 do the worlds business, an
n favored the theory of having som
q Countries adopt gold and other cour
tries adopt silver. Another class wa
made mn chiefly Of professors who a'
!, vonccd various theories which the
:, rantcd 10 have put into practice. IN
J, third and more powerful branch COZ
! sis,ed Of the great creditor classe
!. r.bo wanted 10 make money dear. an
:, nearly all the official classes WI
= bold office for life and draw saari'
: sro,r the government. The charis
!. ~ the Bank Of England BEN
= shout To expire was renewed |
y n,ylIament in 1914. and in u
= ~ renewing the charter parli
= mon, providei that the bank must by
= IN III gold Of lawful standard IN
i should thereafter be offered at t3 !
10 al nor ounce If standard gold.
;. other words. IL fixed the minimum nri
20 ~ gold by law and furnished the wor
pr purchaser for IT, Had il provide
re he law that the hank must buy eve
nound Of wool thereafter offered az
:, cents pcr pound. II j. evident that
=, can,s ner pound would have formed
- r,inimum price for WOOL AFTER th
a datc. especially il It We're limited
- ,,,ntitv and this would have bc
4. due not 10 business or commerce, Dut
- the arbitrary act Of government.
y Ahout the time Of the great disco
y, cries 81 gold in California and Aust
- III tho creditor and office holding cla
le fearing higher prices. started an agl
- IAN IN favor of the decentralization
~ gnld: and Holland as wei as some
u tho smaller German states. actla
hs lnmnnetizcd gold for time. ~
a,ter 1850. when II became evident Y
de ia new gold fields were not gong
m. deurc the world the agitation ~ m
In ~ accommodating god ceased. and n
ur became active in favor of demoneuz
'ur silver. International monetary conf
irs cnces were held az different times.
nal urhich the idea Of establishing SIN
he voll standard was strongly press
be- ,lthough the folly and danger OF
100 were pointed out by some OF the abl
in statesmen and finagcicrs Of the wol
yer ~ the influence Of the ofiice-h"ld
ov- n IA moncy-lending classes was =,
the ciently potent 10 quietly carry u
cs- and finally they Induced the As.eri
on c.,norpes to take the jpltlaflynr g