Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1898-11-05

ui6ei. DuL III lo5V, we lOunu IudL al
these silver dollars came back into :ne
treasury. They would not remain ia
circulation. Then silver certificates
were issued for them and the question
arose, why coin the silver If it will
not circulate? Why not buy bulliol
and issue paper upon that?" And so
in 1890, under the Sherman law, we Ill
rected the purchase of 4,500,0 900 ounces
of silver every month, and in three
years thereafter 5000 tons Of silve'
bullion was bought and stored away in
the national vaults where it yet re-
mains.
But the government issued the value
Of that bullion in paper and as a re siit
over six hundred millions Of dollars
vas put into circulation in Is yeaIs,
including of course the silver coined
between they ears 1878 and 1893. That
vas government coinage. This is suf-
icient proof that free and unlimited
coinage of silver will never produce BIZ
metallism in this country, but on the
contrary, it would produce monometal-
ism Of the worst kind, for Mt would be
monometallism of the cheaper metal.
EVERY DOLLAR OF EQUAL VALUE
All our money today is as it has been
since the resumption of specie pay
ments, on a par, every American dol
lar, whether gold, silver or paper, the
equal of every other, and every n OF
them equal to 100 cents of gold value.
During the last session of congress
the senate sent to the house what vas
known as the Teller resolution. But
ure declared that all our obligations
bonds and greenbacks-were properly
payable in silver coin. Its manifest
purpose vas to make deprecated sill
yer, coined at the ratio Of 16 to /, an
honorable legal tender in payment ut
national obligations. The result of it,
al once upon a silver basis, and to de
preciate our currency. The senate alsL
sent to the house a bill the effect O.
which vas to repeal the provisions OF
the resumption acr, and leave the gov
eminent without means to maintain
the gold redemption fund and to kcrI
our greenbacks on a par with gold. Inc
re publican ways ana means commi tH2
OF the house, sound money TEN )cratIc
members %concurring unanimously rC.
turned it to the house with a negative
recommendation.
During the consideration III tn. bill
to raise war emu the De Cocratic
minority of the house advoc sod an IS
sue of greenbacks-in other words, q
forced loan. And when the ..ues,'Cn
was asked, to what extent, the demo-
cratic leader replied, Until W. shall
determine the limit of safety by gI'us
beyond IT," Think Of that proposition!
a nation with boundless credit to is
and keep ON issuing it until the limit
o! safety shall have been passed and
the nations credit destroyed. IT is
less than six months since tina. reck-
less and preposterous propo Iton was
made in congress, and yet odc demo
cratic friends have the effron .ry to
tell us that there are no natl nal Is.
sues involved in this campaisa
EAGER FOR THE BONDS.
But the difference between republi
can and democratic policy With respect
t. the maintenance Of the national
credit Is more marked when The af-
firmatice financial Legislation of the
present congress Is conside e.. l re-
gard as n of the wisest and most
beneficient acts of legislation that
stands to the credit of the req lbiicar.
party the loan features of The war
revenue law. That law did two things
First, 1t clothed the secretary of the
treasury with power to issue short time
certificates to meet any temporary de-
%lciencies Of revenue, and thus pre-
vents the use of the redemption fund
for current expenses. Had there been
such a law on the statute books during
the Cleveland administration we would
have been saved the humiliation and
expenses of borrowing money from
syndicates for current expenses at
~ruinous rates. This is a piece of per-
manent legislation, not limited to war
eXigencies, but to remain upon the
statute books to the enduring credit OF
the party that proposed and passed it,
This war revenue hill in the second
place, in providing for a bond issue
provided for a popular loan. The
bonds were to be In sums Of $40 and
multiples thereof, and were to be first
offered to small takers. Thei INVITATION