The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-07-28
OF DELAY.

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The gold combination is desperate
and is not going to permit the Repub'
lScan party to daily longer in the mat
ter of redeeming its promises, in 1e-
turn for which such a generous cam-
paign fund vas provided TO purchase
the election of 1896. Hence the kepub-
lican organs are frantic in their eff
forts to convince their readers that the
has at last arrived to alter the laws OF
the country SO that all outstanding
obligations Of the government shall lie
made payable in gold alone, instead OF
coin Of the standard weight and fine
ness of July, 1870, as under the present
law. Under the law, as it row stands,
every dollar of the outstanding ubliga-
tons of the government is payable
in either gold or silver coin at the op.
ton of the government, except GER
tificates issued against either gold Q!
silver coin held in the treasury.
President Cleveland sought to have
congress authorize a gold loan in 1894
and thus pave the way to making all
OF the government obligations payable
in gold, but congress refused. 1t will
be remembered that the Morgan syn
dictate made a specific offer for gold
bonds, rendering sixteen millions addi-
tlonal for bonds to be made payable
IN gold in excess Of the amount Of
fered for the coin bonds hat were is
sued that year. The legislation sought
will be worth hundreds OF millions to
the holders of American securities and
will increase the burdens Of the Amer
lean people on the public and private
Indebtedness against them to the
amount OF billions OF dollars. This
step is deemed necessary by the gold
combination at this time because they
fear the triumph of the Democratic
party in 1900.
The gold combination have down to
the present time failed to secure az
firmative legislation in behalf Of the
gold standard in the United States.
They secured the passage Of a law in
1878 emitting the silver dollar from
our list of coins, cunn5ngly substitut-
ing a trade dollar so that the term
dollar would still appear in the list
and escape the scrutiny of an unsus-
pecting congress. Since then they
nave been able to prevent the complete
RECOMMENDATION of silver in the passage
of the Bland act and the Sherman act
and finally to secure the repeal of all
laws providing tor an increase OF
money through the coinage of silver.
But ali the silver dollars that are in
existence are lawful money to pay of
the obligations of the government in
all forms whatsoever, whether in
bonds, greenbacks or treasury notes.
Further than this many Of the most
eminent lawyers in the United States
contend that the president has the all.
thor1ty under the Bland act TO oper
the minis to silver equally with gold
that that law restores the law Of 1897
Fherefore it is that being longer IN.
able to control the national conven-
ions of both political parties, anl
nominate for the presidency candidates
pledged to the gold standard, that thu
gold combination is determined to in,
sist upon the Republican party enact.
ing affirmative legislation during the
coming congress to establish the golt
standard. Accompanying such a meas.
IRE. they propose to provide for the
retirement of the greenbacks anG
treasury notes, and turn the issue @.
all paper money over to the banks
This measure is revolutionary in its
character and its consequences will be
far reaching. ..... ''' .' SOD
Many Republican politicians fear tho
result upon their party OF the Iegis-
lation that is now imperatively de-
manded of them. They would much
prefer to let matters drift until after
another election. They fear to expose
the party to the r%etribution that is sure
to follow such a breach Of faith with
the people, n they are also DESTROYS
of keeping the banks and creditor in
terests in a position where they will
be obliged to continue their liberal
contributions to future Republican
campaign funds.