The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1899-11-16
THE GOLD STANDARD.
KrrHs 20 ERRct ~ in tnmIs-
taxable Terms.

II now seems fairly certain that the
republicans will, at the approaching
session Of congress, propose mud lass
bill enactIng the gold standard, ir
unmisiaknble terms Such action IL
emiueuily proper In the election Of
1890. the American pcnrlr voted In
favor of this policy, and the pledges ~
the successful party should be- kept.
II would appear that the sound
money" people do moi. even yet, feel
strong enough TO adopt the English
syrtem which would require the de-
munetlzatlon Of the silver dollar for al
payments In excess Of ten dollars. No
doubt, the final step will be- taken. In
the immediate future.
II IL evident that the proposal to en-
trust the emission uf the country's
paper currency 10 the banks has died
a natural death Now that nm unlimited
issu" 81 gold rertiiisHtes Is authorized,
II Is haSdIy probable that the most Inn
portant function Of government will be
entrusted TO private hands This is
well, for II ~ tolerably clear that the
great iinaucicrs already possess sufl.
cent power, and that they would pos
scss good deal too much n armed
with authority TO expand or contract
the circulating medium at viii.
II Ia understood that the hill now
under consideration viii declare that
the obligations Of the government are
specifically payable in gold coin. 81 the
present standard uf weight ati fine
ness. Now such a. dcclaration would
be retroactive in It's nature, and would
c0ntrnycne the present policy Of pay.
mcnt at creditors option. Within the
last few weeks the treasury has been
brsirged by the bankers. with requests
that silver dollars he given To- exchange
for gold coin. II is thus quite possible
that silver coin may soon command 81
premium over gold. Would il not be
a great hardship II 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 10 "agin %
the more plentiful metal, no matter
whether IL happen TO be silver or gold.
II would be- simply awful TO deprive
the hondholdcr and the notchulder Of
their undoubted right 10 pay mcut in
the "cartwhccls" which have hitherto
been dcspisrd In the purllcus ~ Wall
street, but which are beginning 10 be-
viewed with the profound respect that
IL an attribute Of the scarce things of
this earth.
with the civilized world firmly an.
chored to the gold standard. the m.
tions will enter upon a novel and vital
experiment. Even now, there 10 fear
ful scramble for gold ~ all the fnnn-
clal crnicrs. although the full effect Of
the new demands ON the standard
metal has not begun to he felt. his
marck said Ia his pithy way. that .hc
attempt to rake the gold standard
universal reminded him ~ the attempt
81 two men TO sleep under hlaukc
big enough for only one; there would
be continual struggle, and both were
sure 10 he cold Ne, rrthclcss, II e.
quite certain that the Gortriuairrs are
In possession OF the field, and viii re-
tain II, until bitter experience shall
have impelled the masses 10 throw of
the yoke. President Grant well said:
II know no method 10 secure the re-
peal Of bad or obnoxious Lawn so cfTcc
tual n their strict construction" N
O. Timcs-Democrat