Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1897-09-02


not present itself earlier is not appar
ent, but we presume, like the discov'
cry of America, or the Newtoniar
theory of gravitation, it was limited te
a few or came as the light that burst
upon Saul of Tarsus. Now the
scales are falling from the eyes of al
but those who will not see. This al
least is the theory of those who have
nothing new to learn about monetary
affairs. But other things beside silver
must have a value. This value is now
based upon their relation to gold. An
acre of land say is worth twenty gold
dollars, a horse is worth seventy five
gold dollars, bushel of wheat is
worth one gold dollar, a ride from
Richmond to Staunton on the railway
is worth four gold dollars, a days work
| for laborer is worth one gold dollar
These say are the valuations placed on
them when certain conditions prevail
But what is the result when other
conditions prevail? A piece OF prop
erty or a days work is worth only
what can be obtained for it in the
money upon which its value is based
The acre of land, or the bushel OF
wheat, or the days work, or the horse
| may fall in value almost to nothing,
whilst the fare from Richmond tc
Staunton may remain the same. The
scarcity of money will generally cause
commodities to fall. Or plenty of il
cause them to rise. The acre of land
the horse, the wheat, are commodities
and supply and demand goven them
absolutely. Silver has been demone-
tlZed not on account of any baleful
influence it had, but simply to give
the holders of gold monopoly of that
metal. This country is owned and
controlled by monopolies, with Cleve-
land at their head, and through him
they secured the greatest monopoly
ever enjoyed when he seduced Con
The crime of '73 was bad enough, but
the GRO owning outrage was the repeal
of the Sherman act which turned the
! country over bag and baggage to Wall
Street. Having thus destroyed the
only use OF silver it became commod
| ity. That is all which was not coined
into silver dollars, and having no use
and no place it has fallen like raused
butter.
Now suppose the world were called
on to settle today what would it dol
Or to bring the question nearer home,
suppose the United States were called
on to settle it's debts today what would
it do? 1t owes over two billion dol
lars This is more than four times the
amount of gold in the United States, in
the hands Of everybody. Suppose tie
various States were called on t. settle
they could no more obtain the gold to
pay off with than they could change
the course of the winds. So would it
be also with the cities, towns, counties
and individuals. 1t may pertinently
asked what then is the use of gold or
silver, if the volume is too small to do
the business of the world or pay it's
debts? The question is a very peril
nent one. Our people see the uses
made of gold. The little bit OF
gold in this country is here as a crea-
tor of disaster and panic. The pesky
thing cost us 5000, 600, 900 in the reign
of our late Caesar, Cleveland. 1t is
causing our silver dollars for which we
have striven so hard to be deprecated,
and if the bankers succeed in the
scheme they are now endeavoring to
force on the governments OF the world
those silver dollars may be wiped out
of existence. But this country 1--WE
will not speak for Europe) cannot
transact her business affairs on a mo-
nometalic basis. The cases are so nu.
merous for modern shylocks to demand
the pound of flesh, that they will seize
the opportunity whenever it presents
itself. Having all of the gold, wing in
their vaults, they will demand colo
and nothing else from every debtor, in
fact they are now demanding thai
those who borro money shall repay
the same in nothing but gold. To pay
in gold will be impossible, as much sc
as to pay in diamonds or pearls. Their
what will be the result? We have re
Gently seen, but we have not seen the
half. We have seen our lands sole
under the hammer with monetary
system in which we had two metals
then we will see them sold under a sys
tenn where only one IN etal exists an6
God save the debtor. What are we to
do2 How is it possible with gold only
to have money? These gold advocates
call silver fiat money, they call green.
backs fat money, the must call Ma
tional Bank notes fat money also
then if we are reduced to nothing but
gold. and that being SO scarce will we
not find ourselves in the position of a
certain King who wanted horse very
badly one day when horses were very
scarce, and publicly offered MY king.
dom for horse"? This monometalic
idea is new, it only seized on the pub.
lie mind recently, and that mind is
now mad.
SILVER must bs used as money, or
there must be devised something which
the people will take as such, which the
government will take as such, and
must be legal tender for all debts.
dues and demands There being a
constitutions? prohibition against
making anything a legal tender ex-
cept gold and silver coin, no plan
suggests itself whereby relief is to
come. We see no hope for the future
therefrom because we have suddenly
fallen upon an untried gold basis,
II ~ pronounced than that Of any
-, .rffs M = 4 = -. IL