Blackfoot news. (Blackfoot, Idaho) 1891-1902, 1899-08-12

| ~ FcTPVtU1tS tnO Oofo St&H01rO.
Its believed to be the purpose OF tho
Republicans to pass an &C, in the CON.
ing Congress which will put the gold
Sta ndard definitely And eoncretely on
the statute book. BY the resumption
act OF January 18th, 1875, passed by
Republican Congress and signed BY
President Grant, it was directed that
ION and after the LIST day of January,
1879, the Secretary OF the Treasury
shall redeem in coin the United States
legal tender notes then outstanding. on
their presentation for redemption at
the office of the Assistant Treasurer OF
the United States in the city OF New
York, in sums of not less than $50 -
To enable him to do this he was Au-
thorized 10 use the surplus revenue in
the treasury, and to sell bonds and use
the money thus obtained for the
purpose of redeeming the notes.
One provision Of the act Of July
18th, 1890, popularity called the Sber-
man law, declared that it Was the
established policy of the United States
to maintain the two metals on q parity
with each other upon the present legal
ratio, or such ratio as may be provided
by law" This provision was not dis
turbed by the act of November LIST,
1893, which repealed the purchas.
clause of the Sherman law, and is still
In operation.
These statutes and the avowed and
we'll understood policy OF the Republi-
can party may be considered to have
established the gold standard. But
gold is not specifically mentioned in
either of these laws. 1t is the word
coin that is used. Coin will ALWAYS
mean gold while Republican Presi-
dent and Congress are in power. II
the Democracy should get control OF
the government, however, the word
coin would be interpreted 70 mean sill
yer. Had the base money candidate
tor President been elected in 1896 he
would undoubtedly, Immediately after
getting into Office, have directed his
Secretary of the Treasury TO redeem
greenbacks in silver. The consequence
OF course would have been that the
country would at once have dropped to
the silver standard. In fact, the silver
standard would come, If a base money
candidate were elected, even before he
had u chance to take Office, for, the
peril being known, there would be
such a rush to the treasury to get gold
as soon as the result OF the election
was at hand, that the treasury would
be swept clean of gold in week, and
the silver standard would be here three
months before the Democratic Presi-
dent could take his seat.
1t is to prevent all possibility of such
a calamity that the Republican leaders
are determined to put the gold stand
ard squarely and specifically on the
statute book. 1t is the purpose of the
Republican party to abolish this option
Oh redeeming government notes In
either gold or silver, and make them
explicitly payable in gold. Gold, as a
would then be beyond the
caprice of base money President, or
ike Congress, If an honest money Pres
dent were In Office, Nothing but the
adverse action OF Congress
Ind the President would then be able
o subvert the gold standard. The cleo
ion OF either Democratic Congress
n a Democratic President in 1900 is.
II course, to the last degree improba-
Die. 1t is the duty OF craftsmanship,
however, to provide against accidents
n possibilities. The passage of a law
establishing the gold standard expIic-
fly would be a service to the country
worthy OF the Republican party. II
would be a splendid supplement to its
'old declaration in the st. Louis con-
ention OF 1896. and, as then, It would
ring it hundreds of thousands of new
Observation-Disclosures