Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1899-12-15
THE MORALITY PARTY.
Iican Method of Finan-
cferinE.

It has come to light that the God and
morality party is not in perfect accord
with itself on a question of high fnan-
cial morality. There is agreement upon
the general proposition that there can
be no real financial morality without the
gold standard, but after that there is
divergence. The nature of the differ
ence can best be understood from a
statement of facts.
In accordance with the general prin-
ciple that the honor of the nation, its
credit and its financial well being de-
mand that all obligations of the United
States shall be paid in gold unless other
wise expressly stipulated in the con-
tract, and that all possible doubt upon
that point shall be removed, the house
caucus committee has framed bill de-
| claring plainly that gold is the sole
standard of value in this country and
that all bonds and other pecuniary obi
| cations, except as above stated, are pay
able in gold.
All that looks very direct and straight
forward. Upon the general principle
| laid down there should be no objection
| to it. But we hear that the thrifty re-
publicans of the senate do object very
/ SUI soy ti1hC IL phOS
| should concur in the passage of house
bill containing radical gold standard
! provision "they would destroy one of
| the best means of refunding the debt
| at lower rates." Therefore they 'spro-
pose to apply the gold standard to fu-
ture issues and provide at once for new
| gold bonds at low interest rate which
| could readily be exchanged for the pres
ent high-rate, short-time coin bonds. ~
| So the house will virtually pass the rad
| ical gold standard bill, but the senate
will prudently modify it in such wise
| that the holder of existing bonds will
| think it prudent to exchange them for
new ones expressly payablein gold.
| That is to say, it is very immoral and
| dishonorable to pretend that existing
bonds may be paid in silver, and in order
| to establish the national credit and re-
| move all suspicion of a disposition to re-
| oudiate the just obligations of the ma
| ton it is necessary to pass bill declar-
-ng that all the bonds are payable in
| gold. At the same time it is entirely
| moral so to frame the bill as to make
| holders of those bonds think they are
liable to be paid in silver, and therefore
that the best thing they can do is to eN-
| change them for new ones which are eX-
pressly payable in gold.
In other words, the republican posi-
ton is that the existing bonds were in
tended to be payable in gold, and that
this is so certain that it. is grossly i'm
moral so much as to suggest that they
can be paid in silver without dishonor;
| Jet it is entirely moral to scare holder:
into surrendering them in exchange fol
others bearing lower rate of interes
but expressly payable in gold by play
| ing on their fears that the old ones viii
be paid in silver.
1t would seem that in taking this posi-
ton the republicans give away thei1
case as a matter of morals altogether
and take their stand on the lower leve
Of policy. If existing bonds are unques
tionably payable in gold it is moral.
wrong to pretend that they are not il
order to brighten holders into giving
Them up for less than bonds so payable
are worth, and if they are not so payabl.
al the republican cutlery against thos4
who have proposed to pay them in silve
has been mere hypocrisy. IF the senat4
scheme is to be adopted it will be in or
der for the republicans to descend from
their highmoral horse.-Chicago Chron
| .cla