The commonwealth. (Greenwood, Miss.) 1896-1923, 1899-11-17
THE GOLD
Proposition VIII Come Before Con-
Rrcss Il" Ennct II IN tnmis-
nknhi FERNS.

1t now seems fairly certain that Nh,
republicans will, at the approaching
session of congress, propose and pass
a bill %enacting the gold standard, in
unmistakable terms. Such action il
emIncntly proper. In the election OF
1896, the American people voted in
favor of this policy, and the pledges of
the successful party should be kept.
1t would appear that the "sound
money" people do not, even yet, feel
strong enough TO adopt the English
system which would require the de,
mon"tization of the silver dollar for all
payments in excess of ten dollars. No
doubt, the final step will be taken, in
the immediate future.
It is evident that thr proposal TO en-
trust the emission of the countrv's
paper currency to the banks has died
n natural death. Now that an unlimited
issue Of gold certificates is authorized,
it is hardly probable that the most i'm.
p@ortant function of government will he
entrusted TO private hands. This is
well, for il is tolcrahly clear that the
great fnanci"rs already possess suni-
cent power, aud that they would pos.
scss a good deal TOO much if armed
with authority TO expand or contract
the circulating medium at viii.
II is understood that the bill now
under consideration will declare that
the obligations Of the government are
specifically payable in gold coin, Of III,
present standard of weight aud fine.
ness. Now such n declaration would
he retroactive in its nature. and would
c0ntravene the present policy of pay,
ment at creditors option. within the
last few weeks the treasury has beer
besicgcd by the bankers. with requests
that silver dollars be given in exchange
for gold coin. II is thus quite possible
that silver coin may soon command {
premium over gold. Would II not be
a great hardship If the public creditor
should demand payment in silver and
be refused? When the Irish immigrant
was asked about his politics. he re,
piled; I'm agin the government, who.
ever he is The sound money" man
is similarly constituted aud is "agiu"
the more plentiful metal, no matter
whether II happen to be silver or gold. |
1t would be simply awful to deprive
the ~bOndhnlder and the notcholdcr of
their undoubted right TO payment in
the "cariwhceIs' which have hitherto
been drspiscd in the purli"us Of Wall
but which are beginning to be
with the profound respect that
IS an attribute Of the scarce things Of
This earth.
with the civilized world firmly an.
chorcd 10 The gold standard, the ma,
IONS VIII enter upon n novel and vital
Even HUw, there is u fear.
fUl scramble for gold at all the finan.
'ial cCntcrs, although the fun effect Of
he new demands on the standard
METAL has not begun to be felt. Bis
nar"k said, in his pithy way, that The
to make the gold standard
Universal reminded him Of the attempt
u two men TO sleep under a blanket
enough for only one; there would
a continual struggle, ara both were
ure TO be cold. Nevertheless. il is
quite certain that thc d%or,riHaircs are
n possession OF the field. and viii re
ain il, unit! bitter experience shall
imprlicd the masses to throw of
he yoke. President Grant well said,
!