The Republican journal. [volume] (Belfast, Me.) 1829-current, 1896-08-13

can only be obtained by going into the
market and buying at high premium.
Instead of getting the bimetallism pro-
claimed we shall get only silver monomet-
allism with whatever evil or good that
may bring, for although the gold stand
ard nations float immense quantities of
silver as money, no silver standard nation
was ever known to float gold; it is only
bought and sold as commodity, it cannot
be otherwise. We now have paper cur
rency backed up by both gold and silver.
Then we shall have our whole currency
with only silver backing, thus contract
ing our currency more than one half on
its face value and to less than third of
its bullion or market value We shall be
obliged to go into the market and buy
gold at high premium to meet our gold
obligations, both public and private
What reasons are alleged for asking the
people to plunge this nation into sea of
doubt and uncertainty?
First, and at all times, in season and out
OF season, is their great veneration and
love for the Constitution of their Fathers;
although in other points of more impor-
lance, where this same Constitution gets
in their way, they propose to sweep it
to one side without ceremony
But let us see what the Constitution
says in the matter.
In Article list, Section Sth and clause
9Th, it says, Congress shall have power
to coin money, regulate the value thereof.
and of foreign COIN In Article list, Sec
ton 10th and clause LIST, it tells what
States may not do, and among other
things that they may not do is to ''make
| anything but gold and silver coin tender
in payment for debts That is all the
Constitution has to say in regard to coin
age, or gold and silver. It does not pro
claim gold and silver as money, but only
prohibits States from making anything
else tender for debts, yet these free
coinage men hurl this at the people as if
it was one of the ten commandments
that the ''gold bugs had broken. and
consequently had inherited perdition
therefor.
Another reason is their supreme indig-
nation at the miscalled demonstration Of
silver in 1872. This they allege was
brought about by fraud and bribery, and
so conducted that but few knew what they
were voting for. The truth of the matter
shows nothing of the sort.
Silver at that time, as have previously
shown, was not being coined into dollars,
except what the law required the govern
ment to recon from foreign silver money
coming into its possession, as the silver
bullion that went into a dollar was worth.
and brought more, than the face value of
the dollar after coinage, and this had
been the case for many years previously !:
so although tree coinage law was on the
statutes, in fact silver had been demone-
tlzed for years, by reason that the silver
in the dollar was worth more than its
face, and in the same manner that gold
will be demonetized the moment that free
coinage of silver at the ratio of Is to is
legalized.
This being the state of the case, when
the officers of the United States mint
made their report to Congress, or the
Government, among other changes in
the coinage laws they recommended the
dropping of the silver dollar, and so make
the law conform to the then existing fact.
This report went to the committees of
| and two different Congresses, in both
House and Senate, and was spread on the
pages of the Congressional Record (where
it can be found) throughout those three
years that it WAS under debate before pas
sage.
| 50 much for conspiracy Instead Of de-
monetizing silver it remonetized it; for
whereas during the time between 1892
when the United States mint was estab-
lished and 1872, when it is said to be de-
monetized, all the silver dollars coined
only amounted to IS, Oh, S3S. while imme-
diately thereafter, under the new coinage
laws, there We're coined 81 al, It's Of sub
sidiary coins to replace the fractional pa
per currency, and $50, 965, 924 Of trade
dollars, and since that time, if my memo
ry serves, some hundreds OF millions of
standard dollars that are to day legal ten
der for all debts and dues.
And this is demonetizing silver,
OTIS d. WILSON.
Searsmont, 1896.
Free Cniuara N.+.LoQI