The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-15
ouorEs SHERMAN AND BLAINE.
Some Opinions of tho Two Great Republic
an Statesmen.


Some Opinions of the Two Great Republic
AN Statesmen.
Let me say word, now, in regard to
certain persons who are pecuniarily bene-
fitted by gold standard, and who favor
IL not from desire TO trespass upon the
rights of Others but because the circum-
stances which surround them blind them
to the effect of the gold standard upon
others. / shall ask you to consider the
language of two gentlemen whose
long public service and high standing in
the party TO which they belong will pro-
tect them from adverse criticism by our
opponents. In 1869 Senator Sherman
said THE contraction of the currency is
a far more distressing operation than SEN
ators suppose Our own and other ma.
tions have gone through that operation
before. 1t is not possible to take that voy.
age without the sorest distress To every
person, except capitalist out of debt, or
a salaried officer or annuitant, it is q
period of loss, danger lassitude Of trade,
fall of wages. suspension of enterprise,
bankruptcy and disaster 1t means ruin
to all dealers whose debts are twice their
than their actual property. Ii means the
fall of all agricultural productions without
any great reduction of taxes. What pru-
dent man would dare to build house. a
railroad a factory or barn with this GER
tain fact before himg"
As l have said before, the salaried officer
referred to must be the man whose salary
is fixed for life, and not the man whose
salary depends upon business conditions
When Mr.. sherman describes contraction
of the currency as disastrous to all the
people except the capitalist out of debt
and those who stand in position similar
to his, he is stating truth which must be
apparent to every person who Will give
the matter careful consideration. Mr..
Sherman was at that time speaking Of the
contraction of the volume of paper cur
rency, but the principle which he set
forth applies II there is contraction of
the volume of the standard money of the
world.
Mr.. Blaine discussed the same principle
in connection with the decentralization of
silver. Speaking in the house of repre-
sentatives on the 9TH Of February 1873, he
said: Il believe the struggle now going
on in this country and other countries for
a single gold standard would, if success
full, produce widespread disaster i'm and
throughout the commercial world. The
destruction of silver as money, and the
establishing of gold as the sole unit of
value must have IA ruinous effect on all
forms of property, except those invested
which yield fixed return in money
Those would be enormously enhanced in
value, and would gain disproportonate
and unfair advantage over every other
species of property"
Is il strange that the "holdcrs OF invest
ments which yield "a fixed return in
money" can regard the destruction of sill
yer with complacencyY May we aot eX-
pect the holders of other forms of property
TO protest against giving to money dis
proportionate and unfair advantage over
every other species of property" Ii the
relatively few whose wealth consists
largely in fixed investments have a right
to use the ballot To enhance the value of
their investments, have not the rest of the
people the right to use the ballot TO pro
tect themselves from the disastrous con-
sequences Of n rising standard? The peo-
pie, who must purchase money with the
products of toll stand in position en-
tirely different from the position of those
who own money or receive fixed income.
The well-being of the nation-aye, of civ
ilization itself-depends upon the prosper
ity of the masses.