The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1898-04-09
rs BEGGING THE QUESTION

Secretary OF the Treasury Gage. iu
dealing with every question, connects
it with the maintenance of the gold
standard, and uses his argument in
favor of irrevocably fastening upon
the country a contracted currency
based exclusively on gold. He 6ndi
in the. postal savings banks a We
hicle to further his ends. He says:
"In undertaking great fiduciary
trust like the one proposed great and
powerful nation. will enter into con.
tract relations with many thousands
Of the most humble units composing
in part the national life. The whole
proportion rests upon the theory that
these persons would find in the a..
rangements proposed guardian whose
justice and fidelity could not be ques'
toned, and thus their savings, the
fruits of self denial and industry be
kept effective for their future needs.
skilled, the dependent, the strong and
powerful entering into contract rela-
tions with such are under the highest
obligations to make the contract so
plain that the simplest can under
stand it. And yet discover nowhere
in any of these bills any agreement or
pledge as to the form of money in
which depositors are to be paid. This
would not be a necessity if in the body
of the general laws or through long
and settled usage having substantial
ly the force of law this question was
universally understood. But mani
festly this is not the present situation.
II one of the humblest parties to the
proposed contract should ask the post
master agent to whom he should hand
his accumulated earnings, now as good
as gold. will my money, when
draw it out, be in gold or in its fair
equivalent?' what answer will you
authorize your agent TO make? At
present he can make no specific an
swer. He can point to the current
fact that the government is now pay
ing gold or its equivalent. He can
point at clauses in certain acts of con-
gress which declare the policy of the
to be the maintenance OF
q parity between silver and golu. In
short, hecan show that if these acts |
unrepealed and If the discre- |
tionary power accorded to the presi
dent and secretary of the treasury |
under the laws is exercised in one
they will be paid in as good
money as that they part with. But if,
,n the contrary, this discretionary
,ower be exercised in a contrary
direction, they may be paid in money
of much lower commercial value"
This is rather far-drawn conclusion,
though in measure it serves to an
'wsr his purpose as a screen to cover
Up the iniquities of the scheme pro-
posed in his currency reform bill. He
to 80 contract the currency
hat its value or purchasing power
will be increased to an extent that the
lebts now owing must be more difficult
o pay at maturity. That is, he pro-
roses to rob the debtor by compelling
lin to pay greater debt than he con-
racted. Is this not dishonest a. much
IS it would be dishonest to pay the de-
,ositors in postal savings banks in
money of less value than that they de-
,osit? The debt now owing has
,een contracted in money of cert
'urchasing power. Under Mr.. Cages
lan.of reforming the currency that
money would be enhanced in val
9, made more difficult to get,
ence the debtor is robbed of the
mount Of increase in the value of the
ollar. With the depositor in the
ostal savings bank it Is different.
When he deposits his money he knows 1
o has the chance to take of currency
eing deprecated; his contract is not |
and he can deposit or not
t his own option. But with the ,
ebtor who has already made contracts $
le condition is different. If the value t
the money he has agreed to pay is /
,creased he has no option whatever. 8
.e Is legally robbed and has no re- {
PURSE. When Mr.. Gage attacks the G
ostal savings banks proposition on r
lis ground he is begging the question /
order to cover up the viciousness of a
le legislation he has asked congerss a
enact. i