The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-06-05
AS BAD AS TREASON.
PAYING OUT GOLD TO RETIRE
THE oREENeAcks.
when Gold Va - Premium Of ss0
sAs cssasa People were Prosperous
The EsAisss Chain - . wsapos-
An Illustrates.


II there ID . paper In the country ths
can be fairly said to be gold blind
II Is the Times Herald. II IL 20 mer
tally daxxled by the glitter OF Its lido
gold. that the rules Of logic. the priu
ciples OF justice. the doctrines Q
sound finance. and even the difRerenc
between truth and falsehood. are al
deemed wholly inconseQuential in 1t
discussion Of the silver question.
For example. In it issue OF the 18th
II begins an editorial with the follow
ing statement:
Assistant Treasurer Conrad J. Jor
dan. Of the subtreasury at New York
should be disciplined by his onicia
superior. In accordance with law and
practice. . broker named Zimmerman
successfully presented greenbacks al
the subtreasury at New York for gold
with which to buy some of the new
bond issue. That 10 one Of the lawful
functions Of the greenback. Under the
existing law the greenback may be pre-
sented at the subtrsasury for redemp-
ton In gold. and when gold Is asked as
redemption money the subtreasurer is
bound to pay 1t out 20 long as Uncle
Sam has any gold in his possession"
Then 1t proceeds to describe how
Zimmerman repeated the transaction,
drawing out gold three times. and de-
hvertng II to his client, who used il In
purchasing bonds. until finally JORDAN
refused to let him have any more gold.
For this refusal the Times Herald. In
feeble attempt at facetiousness. chides
Mr.. Jordan for usurping the preroga-
uves Of the 81 per cent Of the popula-
ton OF the United States above the age
OF ten years. saying: Such a monetary
System 10 theirs by choice. and he had
no business to check . picturesque H.
Of its logic. it, symmetry and
Its necessities"
Facetiousness Is all we'll enough in
it, way, but when II 10 based upon
premeditated falsehood. one
needs an abnormally developed sense
of humor to fully appreciate 1t.
The statement that the treasurer 10
legally bound to pay out gold az re-
iemption money on demand does not
contain even the smallest grain OF
ruth. There 10 no law upon the statute
'ooks Of the country which makes gold
he exclusive money OF redemption.
The treasury department does not
pretend that there Is. II there were.
Or. Jordan could have been manda-
nused and compelled to pay 1t, NO mat
er how many times Zimmerman pre-
ented greenbacks for redemption.
The treasury department in paying
ut gold exclusively does 90, Il il
laimed. in pursuance Of the statutory
declaration that 1t Is the established
olicy Of the United States to main
ain the parity Of gold and silver.
This 10 merely declaratory Of the !
urpose Of the United States, and II IL
. different from q mandate to nay
old on demand a. any one thing can J
e from another.
When the secretary ID confronted By !!
hat declaration. the question which in
tantly arises 10, How shall the parity
maintained!" OF course, he must
Ct according to his sound discretion
deciding. Instead Of doing 20, he !
nrrenders his discretion" absolutely
the creditor, and allows the latter to :
" which coin he will take. :
Under such circumstances, II gold be-
'mes IN the slightest degree preferable :
silver. the creditor will naturally de- e
and golo. and each additional demand
pom that metal makes the difference "
reater.
The whole aim Of the gold standard. =
has been TO break down silver and =
'ost up gold. In this delectable work =
le treasury department has been 4 =
rong ally. Not Secretary Carlisle =. =.
one. but his predecessors. Foster =
'indom and others. have constantly =
oxen and acted upon the assumption u
at silver II inferior. debased and de- - -
AIDED money. y
The creditor has been told. IN effect. -
at gold Is the only good" money, and 7.
at II he wants gold, he can have Il. ~
short, the treasury has carried out
. policy Of maintaining the parity be. ~ =.
'een gold and silver by keeping the "
ver idle In Its vaults. -
It II claimed, Of course, that n gold
d been refused. the silver would have ~
preciated. How? Why, they say. >:
bee wanting gold would have TO 70 TO "
banks and pay q premium in order ~
get It. But conceding that this might -
II would not constitute q deprecia-
"a Of silver. II would be merely -
nker's commission for making the -. ~
change. II the silver maintained in ne
rchasing power, II would not be de -.
difference would repre- =.
It premium on gold. The Roldite y.
constantly sought to enforce the -.
. that premium on gold meant ruin 49, -
our finances. And yet We have re- - 80
lily seen gold at . premium OF IL 80
cent Ia New York. and only Z few a.. a..
% ago Il was At . premium OF nearly -
ct the Bank OF England-right in
charmed circle itself. II does ros !,