The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-09-23
ANOTHER BUG.A.Boo.

redeemable in gold that made IL worth one |
hundred cents in the hands of the people in.
stead of the law that gave il the legal tender |
value of one dollar, the advocates of gold |
standard are now attempting through their |
gold organs and speakers to show that the |
cause OF the panic was the purchase by the
government Of 459, ,0iG, ,701 fine ounces of silver
under the Bland and Sherman laws from
February 2S, 1873 to November l. 1893, for |
which was paid si84 21O,262 "in gold or its
equivalent" And by reason of such purchase |
they declare the American people have lost |
S226, All, SlS, which was taken from them by |
attachments levied on the industries of the |
country. They further claim that this loss |
was caused by buying an immense quantity of
silver bullion on falling market and that the |
same silver is worth in the hands of the
government today the market price of only
S237, 792, ,444.
They especially emphasize the statement
that this silver bullion was purchased with
gold or its equivalent and that the gold price of
1t today entails an immense loss on the people.
Every intelligent man who has taken pains
to inform himself. knows that the govern
ment through its officers never paid out
single dollar in gold for silver bullion. Under
the Bland act ''the secretary Of the treasury
was authorized to purchase from time to time,
silver bullion, at the market price thereof, not
less than two million dollars worth per month
nor more than four million dollars worth per
month and cause the same to be coined month.
ly as fast as so purchased into such dollars"
The act further prescribes the weight and fine
ness Of the standard silver dollar and that
they shall be legal tender at their nominal
value for all debts and dues public and pri-
vate" 1t also provides that the silver bullion
may be purchased with silver certificates and
that 'the coin deposited for or representing
the certificate shall be retained in the treasury
for the payment Of such certificates on de-
mand."
Not word in the act makes the silver dol
lars or silver certificates representing them re-
deemable in gold and no government official
has ever presumed to set aside the law and re-
deem these silver certificates in gold.
Under the Sherman law of 1890, government
notes were issued in payment for silver bullion
purchased which specifically declared on their
face that these notes shall be q legal tender
in payment for all debts, public and private,
except when otherwise expressly stipulated in
the contract"
What loss could be incurred by the people in
the purchase of silver bullion that was coined
into legal tender dollars that passed immedi
ately into the hands of the people and ex-
changed their farm and manufactured pro-
ducts?
The advocates Of single gold standard and
private bank notes refuse to see that the cause
of the panic was the refusal of the government
to provide new and constantly increasing
volume of money in which efforts they were
aided by the act OF Cleveland in forcing the re.
peal of the purchasing clause Of the Sherman
act, and by which the exchanges of the people
were seriously and disasterously effected.
The constant fight against silver by both
the Harrison and Cleveland administrations
the evil influence of Wall street in their efforts
to strike it down as a money metal and give
the control of our currency into the hands of
private individuals and corporations and the
creation of scarcity of money by the manipu-
lations of the bankers, all conduced to the
bringing about of disturbance in business
circles and created the panic of 1898 with its
attendant four years OF misery, suffering and
unhappiness.
The people of the United States have never
lost dollar through thepurchase of silver bull
lion. Every dollars worth would be in the
hands of the people as coined money making
their exchanges and bringing about true and
lasting prosperity were it not for the persistent
and criminal acts of our government officials,
who are under the control of the money power
of Wall street, New York and Threadneedle
street, London, England.
There has never been a demand by the
people for the sale Of the silver bullion in the
treasury although it has been hinted at on more
than one occasion by the organs of Wall street.
But there has been demand that the silver
bullion in the treasury not represented by GER
tifcates in the hands Of the people should be
coined as legal tender money. No patriotic
citizen will refuse to receive them for the pro-
ducts of his hands so long as the government
agrees to receive them for taxes.