The Penn's Grove record., 1897-01-01
GOLD STANDARD PROPHETS.
Their Promises to the People Unfulnlled
and Their Purposes Made Plain.

Their Promises to the People Unfulnlled
and Their Purposes Made Plain.
Underneath the fiimsy disguise which
I the money power has assumed In this
! campaign the real explanation Of the
fight which is being made with 30 much
bitterness on free coinage can be dis.
tinctly observed. Expressed In o nat
shell, ii is nothing more or less than o
deliberate scheme on the part of the
money power to contract the nations
currency, and the single gold standard.
though calculated to produce great
havoc, is only n of the methods by
which this result Is to be obtained.
To fully establish the truth Of this
statement, tits only necessary to cite the
former contentious of the money power
and contrast them with its present atti-
tude on the money question.
Three years ago the same men who
are now advocating the single gold
standard as a remedy for existing evils
were clamoring for a repeal Of the pur.
chasing clause Of the Sherman act. 1t
was claimed by these false prophets that
a repeal Of that clause would restore
national prosperity and impart q healthy
tone to business all over the country.
They furthermore insisted that nothing
else was needed to promote the welfare
Of the American farmer, and that Just as
soon as the purchasing clause Of the act
was repealed he would begin to reap the
just reward of his labor.
One of the most conspicuous Of these
prophets who Is now engaged in up
holding the single gold standard, Dr..
Chauncey M. Depew, expressed himself
In an interview published In the New
York Tribune, July 90, 1893. az fol-
lows:
The repeal of the silver purchase CLAUSE Of
the Sherman act of July IA, 1890. will release
money here and bring money from abroad. II
Will 40 Infinitely more-it will permit the nss
of credits, wLAsN so NOW 90 f~sarfully curtailed
and which CONSTITUTED 5 per cenS = a. sap
rency Of the country.
Such was the earnest fight which the
money power Of the country made In
favor Of repeating the purchasing clause
of the Sherman act that the day was
carried and the clause in question was
repealed.
But what was the result? Did money
Immediately begin to circulate in this
country, as DR.. Depew and his col
leagues 30 glowingly predictedf II it
did, the laboring people failed to ex-
perience the satisfaction Of having q
single dollar added to their yearly earn
ings. On the contrary, their wages were
reduced, and as much suffering never
prevailed among the masses as during
the years which have since followed.
The farmer has met with one disaster
after another, while his crops have net
ted him far less than the care and labor
bestowed upon them should command.
Merchants have likewise suffered from
the paralysis Of hard times, and failures
without number have been recorded in
all parts of the country. Establishments
both large and small have been forced
to the wall on account of the stringenoy
of the money market, and many banks
have found it necessary to suspend bust.
ness. 1t is no exaggeration to say that
such a period of stagnation and depres-
sion has never been known in this coun-
try as the one which has followed the
repeal of the purchasing clause Of the
Sherman act.
Notwithstanding the utter and ridicu-
lous failure which they have made as
prophets, the same men who advocated
a repeal Of the purchasing clause three
years ago now come forward with
brazen audacity and uphold the merits
OF the single gold standard.
Having been deceived nee by the
spurious logic and affected patriotism Of
these men, the people are not apt to be
SO easily deceived again. Moreover.
they have made a thorough study of the
money question, and they realize the
fact that national prosperity will con
tinue to be a dream and q delusion until
silver is restored to its former place in
the currency Of the nation.
Should the money power succeed in
this outrageous scheme to defeat BIZ
metallism, the next step in order will
be to retire the greenbaoks.
In spite of the frantic appeals which
these false prophets are now making,
the people Of this country will not allow
themselves to be deceived again. In
stinctively they recoil from the single
gold standard, and the more they study
it the more abhorrent it becomes.
When gold and silver were both car
ried to the mints under equal condi-
tions, this country prospered as 1t never
has since, and the farmer realized a good
price for everything he produced.
Until this condition is restored there
can be no permanent national prosper.
ity.-Atlanta Constitution.