The Advocate and news., 1898-03-16
Parity.
y. j. RIPLEY.


For the government to get out OF It's
troubles in the goldbug way is to go ON
to the accomplishment OF the goldbug pur-
poses by the redemption OF greenbaCks In
gold alone, which must finally end In the
retirement of both greenbacks and silver
and the substitution Of bank notes. In
deed, being gOldbugs, II is difficult to see
anything else Perhaps they do not, but
must make II appear that the government
ls forced to It, to shield themselves against
the just wrath Of the people for betraying
them and their interests.
OF course, the government could get out
OF It's bother by repeating the resumption
act, the surreptlous act OF 1873 and the
parity clause; But we are now arguing
with those who make pretense OF believ-
Ing that this would not be an honest and
honorable way out, however well II might
conserve the peoples interests and the
peoples money. The redemption OF green
backs in silver would also put Quietus
on the governments bother. But I'm now
arguing with the people who claim to be-
lieve that the redemption OF the green
back in silver Is not honest and honorable
under the act OF 1873 making gold the
standard and under the parity clause, un-
less silver is at par with gold, the standard
1t all hinges, therefore, on whether silver
Is now at par with gold, and on whether
greenback redemption in silver would rup-
ture the parity between silver greenback
and gold. If silver ia at par with gold
and redemption in silver would not rup-
ture that parity, then there Is nothing IN
the way of our most conspicuous Secre-
tary Gage and President redeemng green
backs in silver or gold at the option of
the government and OF thus getting out
OF the woods, unless 1t be that 1t would
not serve the purpose Of gOldbugs in the
retirement of greenbacks and silver and
In the getting gold from the treasury. IL
this latter consideration swerVed their con-
duct, OF course they are merely posing
ing their interests to the goldbugs. Then,
Is silver at parity with gold and would
silver redemption rupture the parity?
It needs no argument to prove that silver
gold in domestic trade. The $4,000 900 peo-
pie engaged In that trade use greenbaks,
silver and gold at par and indscrimi-
nately; generally greenbacks and certif-
Gates are preferred as a matter Of con-
venience OF storage and portage. Nor
would the redemption OF greenbacks in
silver affect the fact, for the 65 100000 don't
want them redeemed and never present
them at the treasury for that purpose. 1t
Is equally evident that silver and green
backs are not at par with gold with the
the few thousand importers and usurers
unless they were redeemable In gold. The
bankers do not treat silver as money at
all; no banker pays another banker silver
They do not rate silver; simply ignore It,
leaving 1t to the people, with whom It is
at parity with gold. OF course the country
bankers handle silver because they can
loan 1t to the people for gold notes and
because the people take It from them at
par. Greenbacks are used only by the |
importer and usurer as the means of
getting gold.
gold are at parity? The 900 who are |
in trade and who use money as a |
means OF exchange, or the few thousand |
importers and the few other thousand |
usurers who use money only for purposes \
Of usury? Who shall say when green |
backs may be honorably redeemed In sill |
yer? The few thousand usurers and i'm |
porters or the 65,OOO,OOO; To allow the |
usurer and importer to decide the matter |
Is the clearest possible proof that the !
Congress, the Secretary and the President |
who do 1t are merely posing as the friends |
of the. people while serving the purposes |
OF their enemies.
we have said that silver redemption
would not affect the parity between silver, |
gold and greenbacks with the people But /
that depends, The trade dollar was at |
par with the people until Wall street rated |
It, and then 1t went out of sight at so cents. |
A rating by Wall streeters Of other silver /
dollars would no doubt have the same /
erect. Those silver dollars would go be-
low par, not because they did not serve
the peoples purpose in business equally |
as well as gold, but because Of the rating |
That, therefore, Is not a reason why we |
should not redeem greenbacks in silver, |
but is reason why the rating should end |
II bill were introduced in Congress TO |
that end and Congress voted It down It /
would be one more proof that Congress
IS merely posing as the friend Of the people |
and their money while they let slip no
opportunity to do good turn for their en-
emies. When 100000 Of people say silver,
gold and greenbacks are at par and when
he government In making both silver and
gold legal tender for debts says the same |
hing, then the question ought TO be con-
'idered as settled And the man and the
,lique who rate them otherwise dIshonOr
he coin OF the realm and should be pun
shed for 1t,
OF nnI1rse n would he naIh Ahat milnror