Evening star., 1896-10-30
A Plea for the demonstration of
Wampum.
EWO CENrURIESOF DEBTORS WRONGED
Real independence of European
Financial Domination Proposed.
DEPRECIATION OF SEA SHELLS

our wonderful resources, is capable of hav-
ing a financial policy and a distinctive
money of its own; should not submit 10
remain in financial subjection to England
or to all Europe; is able single-handed 10
double the price of silver or anything else
in the markets of the world. and he who
is unpatrIotic as to assert the contrary
is a pusillanimous, crawling, traitoroLs
creature, whom 1t would be fiatterv to
characterize as a nineteenth century Bere-
dict Arnold!
The first point of the declaration is that
the gold standard, which has been the
American standard in fact since 1884, and
formally since 1873, is still European. for
eign, alien; that in order to demonstrate
gold standard, which, unlike other Eu-
ropeans. has CT, it is alleged, become MAJ
uraliZed here, even after sixty years
residence, and in establishing a new stand
ard, we must declare our independence of
the worlds commercial ratio of silver and
gold ard force upon all other nations a
radically differing ratio of eur own de-
vising.
Those who thus scorn European opera
ton or advice in legislatng concerning the
civilized worlds medium of exchange de-
rive great comfort from the opinions and
suggestions of Prince Bismarck, the repre-
sentative of a gold-bug despotism and the
land of the Rcthschilds. whose views.
curicusly enough, these Europe-haters
of gold, as well as of blood and iron,
cynically replies in effect: Il was a gold
bug while i'll control Of Germany, in fact
demonetzed silver. yielding to expert opin-
ion, but while / believe in gold for Ger
many,I have had a predilection for bmetal-
lism. especially for America, which is
frecr to make dangerous experiments ihan
Germany. 1 approve heartily of a test
Of individual free coinage in the United
States if not incompatible with your in
terests. If you succeed Germany may
| initiate you If she likes, and if you fall 10
body will suffer especially but yourself,
and Germany may use you as warning
and horrible example, We are 20 dose
ourselves experimentally as apothecarys
cat for Europe; we are to pull chesinuts
out of the fire for the benefit of European
bimetallists, and in the very performance
of these humiliating roles called
upon to please ourselves with the idea
that We are proclaiming and demonstrating
our independence of Europe.
The siverites' bogus declaration of inde-
pendence appeals to our characteristic and
dominating national pride, and attempts to
pervert and abuse the national sentiment.
Uncle Sam Is placed in the position OF
small boy who dares not take a dare, no
matter how ridiculous dangerous the
feat to which he is challenged.
One of the most effective of Rogers car
toons in Harpers Weekly deals with this
appeal to Uncle Sans false pride. The
free coinage bull is pictured as tossing poor
Mexico high in the air. Bryan. a small
boy IN l<OrQ Fauntler0y suit, Is urging
Uncle Sam to jump with him into the bull
ring and tackle the infuriated animal, say
ing: He can't do that to big men like me
and you, Uncle Sam
Real Independence.
If we are going to declare our independ-
ence of the worlds idea of the relative
value of silver and gold and the worlds
preference concerning its form of money,
let us cut loose entirely from the effete
despotisms and old world notions. Why use
silver money? The world so scorned by
US has long been using it. 1t is identified
especially with Asia, with barbarous des-
potisnns and the half-civilized races. Shall
We accept our form of money and our
financial ideas from the silver BUGS Of
cheap money? Cannot seventy millions of
strong, rich and brainy Americans do bet
ter than copy China, India and Mexico?
What is the original and characteristic
American money, for which we are indebted
neither to European gold bugs nor Asiatic
silver bugs nor any effete. old world finan-
cier whatsoever? Wampum, of course. We
shall never rise to the full stature of our
proud independence of the old world and
its financial tyranny until We have restored
this genuine American money to the lofty
legal tender position which il occupied
be fore 1t was struck down by the crime Of
1861.
Wampum, the Indian, and, consequently,
the original and distinctively American
money, was made of cylindrical perforated
beads of polished shell. 1t was also used
for many years in the colonies, both in
dealing with the Indians and among the
colonists themselves. 1t was heartlessly
demonetized in Massachusetts in 1861. in
1ta2 In Rhode Island, and soon afterward
in Connecticut. New NetherlaEd was
slower than the New England colonies TO
duplicate the Massachusetts crime of 1861.
but in the course of few years, after vain
ly seeking to lower the coinage ratio of
wampum to keep pace with the deprecia-
tion of that currency, New Netherland also
followed suit and demonetiZed wampum.
New Netherlands desperate efforts from
1G4l to 1862 to compel, by legislation the
colonists TO receive the wampum at the
coinage ratio fixed by law and to preser .e
this ratio. though through overproduction
at first. and demonstration by other colo
mes at last, the commercial value of the
wampum was constantly depreciating, are
full of interest, especially in the light of
the present struggle to bolster up another
falling money.
In 164l the coinage ratio of wampum was
four beads to one silver, a silver being an
English penny. and each bead being. there
fore, worth about half cent In that
year an ordinance of the director and coun-
ell OF New Netherland, April Is. declared :
Whereas very bad wampum is at pres
ent circulated here, and payment is made
in nothing but rough, unpublished stuff.
which is brought here from places where
1t is 80 per cent cheaper than il is paid out
here, and the good, polished wampum, COM
monty WdmDum, Is
wholly put out Of sight or exported. which
tends to the express ruin and destruc ction
of this country mote that Gresham's law
gets in its deadly work and the inferior
money expels the superior); i'm order to
provide in time therefor. We do therefore
for the public good interdict and forbid all
persons, of what state, quality or condition
soever they may be, to receive in payment
or to pay out any unpublished wampum dur
ing the next month of May, except at five
for one silver, and that strung. and then
after that six beads for one silver. Whose
ever shall be found to have acted contrary
hereunto shall Professionally forfeit the
wampum which is paid out and ten guilders
for the poor, and both payer and payee are
alike liable. The well-polished wampum
shall remain at its price before to wit,
four for one silver. provided it be strung"
The Wampum Ratio.
This ordinance made the ratio to l for
polished wampum, and to 1 for unpol-
ished. and provided a penalty for departure
from the legal ratios.
In 1850, May 30, the ratio was further
lowered by ordinance to white (or 3
black) for one silver, while in the case of
poor-strung wampum the ratio was white
(or black Tor one silver. The penalty
for refusal to obey this ordinance was Ito
be deprived of their trade and business"