The silver messenger. (Challis, Idaho) 1890-1912, 1897-05-25
rate of 10 per cent, per annum.
If not paid before sale all origin
al penalties will be attached.
JAS. r. WILKINSON,
Assessor and Collector.


see that its maintenance demands
a contraction of our currency |
would like to deal with the cur
rency problem in this way. We
connot establish ourselves on
the gold basis without pulling
down the superstructure of our
credit money resting on the mar
row sd foundation. Having
we akenel the foundation of our
paper money by throwing aside
silver, we must contract our cur
rency and Tighten the weight Of
the .superstructure resting on
the foundation we have under
minded. Otherwise our whole
credit fabric will be ever in dan
ger of collapse. Not to contract
our currency, as demanded by
adherence to the gold standard,
cannot but have q tendency to
keep up prices. And this must
tend to cut off the demand for
our products, while tempting an
increase of imports. This tend
ency may be Offset by combina-
ton of circumstances sucl as
has been in operation during the
past year, when, because of crop
failures in other parts Ct the
globe, Europe has had to buy
largely of our products, for there
was no other market from which
she could supply her wants. So
we have found market for
vast quantity of produce and at
better prices, with the result
that our exports have reached
an enormous volume. But, such
abnormal conditions aside, and
our refusal to pull down our cur
rency, and hence prices to the
gold level must result in a cur
tailment of the markets for our
products, for our customers will
not buy from us if they can buy
cheaper elsewhere. And such
conditions mean gold exports,
for our creditors will demand
gold in payment; they will not
take merchandise. if they can
buy more produce from our COM
petitors with the ounce of gold
than they can from us. So re-
fusal to contract our currency
means, if we adhere to the gold
standard, gold exports, means
that, failing to contract our cur
rency, we can only maintain the
gold standard by artificial means
by borrowing gold with which to
provide for redemption.
The outlook for us, a debtor
nation, is not, under the gold
standard, rosy one. We can
not go on borrowing forever, and
currency contraction, the logical
course, would cause shrinkage
of values such as would mean
general bankruptcy. Yet if we
persist in adhering to the single
gold standard, currency contrac-
ton is imperative. 1t is far from
certin that the taking of this
course would enable us to main
tain the gold standard, indeed it
is almost certin that it would
not, but it is the only course that
offers us the slimmest chance.
| And yet the taking of tEis course
would mean ruin to our produc-
ing classes. But it is this dismal
future that confronts the Repub-
lican leaders. 1t is no wonder
that the currency question is a
nightmare to them, but they
fear to face the issue and urge
contraction as the remedy. Be-
fore this issue the Republican
party is helpless. The leaders
are agreed on nothing, they can
see nothing but the breaking of
party ties as the result of any
decided step. So there is hesita.
ton, a fear to touch the currency
problem, a fear to even appoint
a Currency Commission. The
American.