The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1899-04-06
NEED MORE MONEY
Some Figures Showing the Evil Com
mercial Results of the Gold
Standard
ONWARD MARCH OF TRuTS
They Grow from the Single Standard Soil
and are an Undoubted Evil to be
Fought by the People.

Chicago, Ill March 31st, 1899.
Elk Judge SIP Mcdonnell recently
addressed the Monticello Club, OF
this city, on the subject of the pro
per ratio for practical bimetallism
and | heard him say that he feared
the consequences of opening the minis
to silver, ut the present ratio, as the
bullion value of silverls only 80 to |
as to take the choice of robbing the
rich or still pauperizing the poor, he
preferred to rob the rich but he
thought it more equitable to compro-
mise on medium point between the
present bullion and coinage ratio OF
the two metals.
In my opinion there is conclu-
sive answer, based on existing facts,
TO this view. To re- establish bimet-
alllsm, as it existed previous to 1873,
is not robbing the rich 1t is merely
arresting the confscation and exploit
tation that have been going on in
this country for nearly thirty years.
We do not propose to take from the
bondholding classes and the money
power any of the billions of dollars
that have been heaped INTO their Golfers
since they began to manipulate legis-
laton to their benefit and to the de-
triment of the producers of wealth.
Between 1862 and 1868 the United
States issued in round numbers 50,
800, 600, 600 in bonds which were
sold for 67 cents on the dollar.
These bonds were bought and paid
for in lawful money of the United
States, which was paper. The prin-
of the bonds was payable in lawful
money of the United States and the
interest was payable in 'coin" In
1869, Shylock hung out three brass
balls, at the city of Washington and
began operations.
At time when all absorbing cues
tons that grew out of the civil war
were occupying the minds of the
people and the financial policy was
giving them little concern, Shylocx
became apprehensive of the credit of
the country, although it was better
than it had been since the civil war
While he did not make as much fuss
about it then as he does now he suf-
fered great agony and in 1871 per-
suaded Congress to pass the Credit
Strengthening Act, law that was
not agitated or discussed among the
people and never came before them
as an issue.
BY the credit strengthening act
the principal of this enormous bond
ed Indebtedness, reaching nearly
three billions of dollars, became paw
able in ''coin" instead of lawful
money of the United States; in less
than thirty days after the passage of
this act the price of the bonds adj
vanced from 50 cents to S 105; an
enormous tribute levied upon the
people without any compensation,
except small reduction of interest
which would'furnish their apologists
with thread from which to weave
eulogies on our magnanimous nation
al creditors. 1t would seem that or
binary greed would have allowed its
victims reasonable time to recu-
perate, but not so in this case. This
"coin was silver and gold at the ratio
of l6 to l, in which the bonds were
now payable. As soon as the credit
strengthening act was passed and the
Secretary of the Treasury had told
the people what fine bargain he had
madewith the national creditors, Shy.
lock again set up his contribution
box, in quiet way, in the halls of
Congress and requested two for one.
in this wise. There were two metals
that furnished the money in which
these coin bonds were payable. The
bondholders conspired to prevent one
OF these metals from being manufac-
tured into money and thus have the
coin money supply depend solely on
the other metal so that in time the
coin metal of the same denomina-
ton would buy twice as much In
1873, by ways that are dark, they
actually succeeded in ENGRAVING up
on our statutes, a law that shut off
one OF our supplies of money in
which we agreed to pay them and
their expectations have been fully re-
allied. We have had to paw the
number of dollars, just the same as
we promised, but these dollars would
purchase twice rs much as the dollars
we received. Now, when we suggest
the demand for silver. bv
opening the minis to it, we are told
that we would be robbing someone of
ms Just dues, when they are shown
the very opposite to be the case they
then say that so much time has
elapsed since Shylock doubled his
money in 1873 that we could not now
maintain any such ratio The real
TACT is that we need more money of
Ultimate redemption than both silver
md gold would furnish at the ratio
If 16 to l.
The demand for silver and gold as |
moneys of ultimate redemption is
much greater than tho s,,r,,l,, 10.