Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1896-07-24


Gold For The Glasses - Silver For Tn
Masses.
II. l.. HYNsoN, ESQ,
Editor of Neigs and Advertiser
My DEAR SIR In your editoria
of last week, sustaining monometal
lism, you refer to those who desir'
the restoration of silver in monetary
Legislation to the place it formerly
occupied, @as repudiationists," Al
anarchists" You say chat they arr
Gas dishonest as robbers" "as mear
as thieves" las wicked as pirates.
This is Characteristic of those who
contend for the gold standard, hop
ing by abuse to accomplish what
they fail by reason to sustain. 1t is
the language of those incapable OIL
reasoning. They know that people
generally are timid and weak, afraid
Of debasing epithets, and they hurl
with energy, these expressions at
them, hoping to frighten and deter
them from accepting the truth, and
to delay and prevent them from act
ing when the truth is known. You
are evidently familiar with the liter
ature of monOmetallists, for you have
adopted their methods and express
siOns as we'll This, undeniably, is
effective with the ignorant and weak,
but it cannot influence at all the in
telligent and strong.
GOLD SUSTAINING ALL VALUES,
1t is strange political economy
that has led the world to represent
its vast wealth by one of its soarcest
products. We rarely see a coin of
gold; they are so scarce that many
cannot tell their denomination; and
yet this scarce metal represents the
value of all the farms, the houses, the
factories, and the products of mono
metallic nations. Can you conceive
the APPALLING significance of such a
fact The entire gold coinage of the
world is less than four thousand mil
lion dollars,a and resting upon this is
the enormous sum of two hundred
and fifty thousand millions, the ag-
gregate wealth Of the gold standard
nations of the world. Bat this is
not all; upon this four thousand mil
lions of gold there is resting also
Indebtedness of forty thous-
and millions, and paper monetary
issue equalling twice the full amount
of coinage. In obtaining the token.
you virtually obtain that which it
and so it is that in secur-
ing the gold ofthe world you secure
the property and commodities as
well This is why the rich are mono
metallists; a little gold represents |
much, and they have it all, and they |
know, too, that the same monetary |
policy that has in the past few years |
doubled the value of the metal will /
ripple and quadruple it as the decades
20 on. As the annual product of
gold cannot increase in ratio to pop
llatiOn and wealth, the commercial
yalue of the metal must continually
each piece representing
more and more wealth and greater
lumber of products. With gold the
tandard of value it becomes easy for
he rich to accumulate greater for
unes; they have but to keep the
money idle and its own appreciation
'ill make them richer and richer.
t is strange economy, indeed, that
an base so much upon so little and
lake the world accept the ratio as
quitabIe.
But even more incomprehensible
it that the vast wealth of the
orld should be represented by its :
asst useful product. Gold has little :
,al intrinsic, value; it serves neither :
n the purpose of food, clothing or /
lelter; it has less value than any of :.
lie so-called baser metals. There is "
1t a single, essentially useful pur- \
1se for which it is employed but :
at some other material can better =
Ike its place. You may fill your :.
buses and barns with the shining !.
e until the timbers break; pile it y
} until the heavens are reached and ).
Of it will not sustain life a single -
cond,-as useless as any created :,
distance. And yet legislation has :, -
ade it represent all value. 1t has =,
come "a living god ruling in scorn ~
papf 10 flffnorc hrak wilma -
CHEAP AND DEAR MONEY. 4,
Money that is abundant is cheap Ii;
d low, requiring few products to
tain it. Money that is scarce is m
ar and high, requiring many pro- til
cts to obtain it. As the purchasing ar
wer of money increases so do the co
0ducts of labor decline. The rich r,
sire scarce moneybecause they have on
Ill, and each piece brings them We
re of the products of labor; the un
orer wants abundant money be- it
Use his products will bring more s.
exchange. Legislation in the past spi
been in the interest of the rich ella
against the poor, and money has in
n made scarce and high and prop Re
7 and products low $40 him
hath has more been given, and
lin that hath not even that which
,eemeth to have has been taken
"" A
R GOVERNMENT is UNDER SOLEMN per
TO PAY ALL ITS PROM ula'
1sEs IN MONEY THAT IS OF oNe cal