Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1897-03-04
Can We Let the Currency Alone ?

publicans "who embarrass the Repub,
lican policy Of letting the currency
alone, s. you say, There was no trou'
bic with the currency under former ke-
publican administrations, when the
treasury was accumulating a surplus
instead of facing a deficit. Nor is there
any reason to suppose that there VIII
be any such trouble in the future when
| like conditions are restored. There Is
no distrust of our currency now that
the danger of free silver is removed.
Now. Mr. Editor, | would ask IL you
were not aware that this government
was laboring under great financial DIM
culties that there is trouble with the
currency and il existed when the treas
urv accumulated a surplus; that over
one-half OF the currency in circulation
is .sdemonetiZed silver and paper
money with no redemption but fiat to-
ken money and that this trouble with
the currency is the cause of the present
silver agitation, and that some of our
most ardent silver men were driven TO
that belief BY this peculiar financial
condition and are urging the free coin
ace Of silver as the least Of evils that
besct us and the best way out OF our
present difficulties and the only way TO
prevent panic
You must bear in mind that mint
stamp and government fiat have no
value, and that the j0,OOu,uoO silver
dollars that the government has issued
at a large mint profit are fiat money
and worth today only fifty cents apiece
and are floating S1j,O0O,OO0 in silver
certificate, more than they are actually
worth. They are made a full legal tcn-
dcrand are irredcemable and Carlisle's
guaranty to redeem them. with nOth-
inc behind his guaranty, j. worthless.
our SG2j. 600. 900 OF gold is already
bearing 80. GOO. 900 subsidiary silver,
$50 100000 gold certificates, Slj0,0O0,
900 treasury notes, $3.50, 100000 green
backs and 500, 600, 900 currency certiii-
Gates. which makes il insufficient to
redeem al OF this even, without piling
on those S3ju. 900, 900 silver certificates
and 500. 900. 900 fiat silver dollars,
which were once used ~ redemption
and are badly needed now, but cannot
be used Tor that purpose in their pres
ent condition without quickly driving
us to silver monometalli>m. which me-
cesSiiates the withdrawal OF a large
part Of this credit money or reputation
Is sure to follow. Ii we do Withdraw
ii panic + sure 20 follow.
Again let me say. Mr.. Editor that
there is trouble with the currency and
like a ghost il rises up before u>. cit
will not down. and there are but three
ways ont Of this difficulty
The Republican policy is to "let the
currency alone"-uhtil the people rise
up against il, reject il and repudiate it.
| Mess Herman kOhl>aat, who bears
the honor or dishonor of forcing the
single gold standard plank into the
Republican platform, together with
Mark Hanna and the money grabbcrs
and Baron Rothschld (thcy are the
ones who have GOT the Republican par
~ by the nose and are leading it into
paths of peace and prosperity should !
consent TO increase the currency and /
dcpreciate the purchasing power of
their wealth by coming to some inter- !
bimetallic agreement win
they do it,
This party is called the Sound /
Money Party The gold men" want
nothing but gold for redemption want /
to contract the currency by retiring the I
grcenbackS and treasury notes and all /
credit money. and with one strlddle /
swing onto the single gold standard re- /
oardlcss of consequences.
II Is this party "that is embarrassing /
the Republican policy of htting the .
alone. VIII thct give rs +
sound money or a panic
The irec coinage party believe it +
Is impossible to ever get an intcIna- /
ional agreement. and have honest
reasons for believing that independent
action would be safe. and prcterring
silver recommendation to gold monomct-
illi>m, il we have got To have either.aS
lar better for the common people. hut
prefer bimetalliSm 10 either. and
believe the only way 20 get il and
make this silver a safe REDEMPTION.
prevent this contraction and a panic. is
% raise the price Of silver and the only
way 10 Ito that j. To treat both metals
INN gnu XIV thA NiiNtl inc same fi0Ul
II free coinage a. is given Ia gold. and
IRE urging independent action" a. the
east Of evils
These people are called BryaniteS.
'opulists and Popocrtt>. anarchists
md rcpudiators
There were but few ia New England
oolish enough Ia Join this party. and
hose that did have nothing To do now
nat to bask in the bright sunshine of
awning prosperity and smile Ia see
ne gold Democrats cmbarraSS the Re
policy OF getting sound money
y letting the currency alone.
Ia conclusion Can we let the cur
eucY alone and by 50 doing will that
ivcuS sound money! =
Can We get sound money by with
rawing the greenbacks and treasury
otcs without breeding the greatest
anic the world ever saw And what
hen are you going to do with the
5O,Wo,ooo demonetizrd hai silver
ollarS
l. the dancer of fitt. silver t,.,,,- ~