Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-10-13
TWELVE PAGES
FRIDAY. OCTOBER 10. 1899.
THE MONEY CORNER.

No goldite, or banker or nonopolst'
Or money-brol1er will recognize that the
scarcity of money. and the endless
chain" that so repeatedly has depleted
the gold reserve OF the Treasury are
!, both due directly to the decentralization
of silver. Even now when money in
every form is so scarce that in New
4 York and other money-centres call
money has gone up to per cent and
higher on good commercial paper, and
1t is confessed that most OF the country
Z outside of the cities is suffering from a
currency famine, entailing incalculablc
losses and deprivations on labor and
production, the antl-silver contraction
lists will not see what is the matter
though 1t Is as plain to everybody who
has eyes to see, as the nose on his face.
What remedy is proposed by the Re-
publican party and It's fostered inter
ests? Nothing-but an enlarged issue
4 Of bank-notes to city brokers. specula-
3 tors and others on Understanding u.
S. bonds and other gilt-edged securi-
ties. NOTHING AT ALL FOR THE
PEOPLE. on any terms available to
Currency, In a current article in the
Forum on THE Present Outlook for
Currency Reform says that all that
Is to be expected from the next session
of this Republican Congress is tenn
porary recognition of gold rs the stand
ard of value and a temporary refusal
TO reissue greenbncks. once paid into
the Treasury, except for gold
" Both these acts, SO far as they will
Z have any practical effect. Will be in the
line of further contraction OF the cur
rency,-a policy that positively tends
TO pauperize the masses Of the people,
and to make the middle-classes the
mere clerks. agents and servants of the
mono-metallist monopolists who arc
taking every mean advantage OF the
money-famine that prevails. Gold and
bank-notes, with all still outstanding
standard silver dollars and greenbacks.
are demonstrated and confessed to he
inadequate for city needs, not to speak
of the wants OF the whole country and
people outside Of the cities, who arc
[ practically money1ess and have been for
many years, except during the war with
f Spain, drought in Europe and South
America. and plague and famine in
india. when some growers OF corn and
wheat, who had not sold to SPECTATORS
realized good prices in spite of silver
I, characterization, on the calamities Of
other nations.
Are we as a people to offer up thanks
III, Fn..
put up prayers for more wrecks? If
not. what are we to expect from a sys-
\ tenn Of continual contraction Of money
and currency, In face Of a continual ex-
i pansion Of population. transactions and
all the needs and demands for an ade-
quate medium Of exchange and circu-
lation? The silver decentralization act
passed February IL, Discover 26 years
ago,-and ever sinccs our money and
currency have been unnaturally and
continuously contracted by the less OF
one OF the greatest natural sources of
constituh onal metallic money. We are
deprived of that supply. and nothing Is
provided to replace it.
The government by the act OF 1873 IS
acting in collision with the cornerers of
money to contract money and currency
80 as to put the people at the mercy
OF the money-power and banks. 1t
would not be so bad, IL 1t could, to
contract the wheat supply and so run
up the price for the forestaliers like
Letter in '9s. and Armour this year.
5tf3 sssss.s u
II Il This Boer War fingers so that IL has
( bee ONE 9 bore.