The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-04-16

! gold and s9.oGe $50 In silver: SO that " our
mnts were DEVOTED exclusively 10 the
| free coinage Of STANDARD silver dollars
| the addition TO our, stock Of mcRllic money
| would be about SIS pll,0Nl less every wear
/ than 1t is now. ana 1t would not be good
/ money nftur II was coined More Than
| nftoen wears wouii elaps,, b@for" Jy,, coiI'i
! AZ This rate coin enough silver dollars to
! supply the place Of tn" good gold dollars
| expelled from the country. and, IN the
! meantime. complete revolution would
1 haze to be effected in our commercial re
laiipns with other nations. aud In all our
domestic bualness affairs, including a re-
prices of commodities the rates of munic-
ipnl. state mud Federal taxation, chnrgcs
for transportation. aud every other mat
ter involving the use of money or credit,
We should descend by n single step from
the highest standard of value To silver
recommendation, with n contracted and AT
The same time Il deprecated currency a
financial experiment which has no precc-
dent in tine monetary history of the world.
Fortunately, when changes have hereto
fore been made IN the circulation by the
substitution of the coins of one metal for
tn. CONS of the other, the difference IN
their value has been very small and the
process Of substitution has been gradual
ana created no great financial disturb
ance. Under the act of 1892 the difference.
In value between tho coins at the legal
ratio was only little over per cent,
and yet, within less than one year after
the enactment OF tnGt statue congress was
compelled to reinforce our stock of money
by making certain foreign coins legal
tender IN the payment of debts, and on the
sumo day Of the passage of the net of
1884, which put the country on gold basis
by undertaking. silver about / por cent.
20 ngress passed another statute making
he gold coins Of Great Britain, Portugal,
Brazil France. Mexico and Columbia legal
tender by weight In the payment of debts,
thus providing. as far az possible, against
"A contraction of the currency on account
of the expulsion of silver from the circu-
lation. During the war. when gold was
leaving The country. legal tender treasury
th0rity OF congress. to take It's plnce,
and instead of contraction of the cur
r,ncy. we mad an expansion. After the
war. when n was determined 10 change
the character Of our currency again by
tho resumption of specie payments. the
law WAS enacted four years in advance Of
the time when II was TO take effect I'm
order that ample opportunity might be |
afforded 10 adjust the business of tn.
people to the altered conditions. Now. |
however, all the conservative ana pru-
dental considerations that have usually
controlled IN the settlement OF great
regarded, ard we are confronted by an
organizcl and aggressive movement TO
destroy by a single blow the measure of Il
value upon which all existing contracts /
are based. ana thus subyert the very foun-
dat ions OF our monetary system. without L
allowing a single day TO prepare for the
change. IN the general confusion and dis
order resulting from such a radical meas
ure. what Will be the condition OF the
American laborer? Win he be benefited
or injured by redHnlng the value OF the