The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1900-02-15

) q |lS ..'!
MANKIND, Lue =: = - -
indu tries, and the more prosperous
wi be our people.
Mr.. George e Roberts, Director of
the Mint, in his report for 1899 (page
6), says:
The worlds stock OF cola is now
being increased more rapidly and by u
hig her annual percentage to the exist
ing stock than during the period from
1890 TO 1860, when the great output of
gold from California and Australia
startled the economists Of all countries
and gave the world depreciating
standard Of value. The effect Of this
new flood OF standard money upon the
markets, the industries, the earnings
Of those who work for wages, and all
the varied relations of the people in
our present highly organized society
will be most interesting study. 1t
must be u potent factor in affairs.
The true lesson to be learned from
the increased gold product is that this
Is a most favorable nom 3nt for retrac-
lng the steps which have bacn taken
| toward The demonstration of silver,
| aud that here and now, in connection
| with u Is largely Increased gold supply,
we should restore silver to its position
OF real money and secure new con-
sensus OF the nations, which will not
De likely to again be broken, but will
last as long Is the precious metals are
| made The medium of exchanges among
mankind and constitute the measure OF
the values OF the world. This Is not q
question OF year or a decade, but the
question OF policy to be pursued
| through centuries. We do not chappe
from wellsottled principles OF govern
mental policy By reason OF accidental
happenings, which may be temporary
1t has indeed already been o long
period during which the effects of pro-
grcsslve decentralization have made
themselves only partially felt Mis-
takes in argument have been made on
both sides, rs special and temporary
causes have intensified or delayed the
elects OF decentralization. When the
prices OF commodities go up, gold
monometalists say the bimetalists are
demolished. When wheat goes down,
the bimotallists say the monometalli lists
should be c0nfounded. These are the
ups and downs OF what is, on the whole,
the progress OF demonetization, which
il not arrested is in the end to mako
gold the only real money Of tho world
and silver merely u metal for which
there Is to bo some limited demand for
token coinage and for use in the arts.
Therefore, instead OF taking advant-
age OF the present favorable condition
of business and finance in the United
States by repudi8ting any idea that
silver Is to be remOnetiZed and by de,
claring for gold monometallism, it
seems to me, with all due Differences to
perhaps wiser, certainly moro power
fui meG, now is the very time TO renew
and carry to a successful conclusion
the movement toward RECOMMENDATION
OF silver to which we Republi have
80 often pledged ourselves.
The attempt to establish the gold
standard In India has been signal
failure. lEfinite distress has been
caused to the people Of India by the
attempt, but success has not been ac
complishcd. The government of India
will We rupees for gold sovereigns,
which have been made u legal tender,
but Will not give gold sovereigns for
rupees, India is u silver country and
can moi be forced either to use gold a.
money or to accept gold as the measure
Of commercial values, notwithstandinp
there Is no self-government and the
people have apparently no effective
means OF protecting themselves from
wrongs which the home government
In London may attempt to infiict upon
their starving oriental subjects The
public sentiment Of England would, [
believe, welcome another movement
Tor tho reconciliation of silver and
the reopening OF the India mints for
that purpose. England suddenly 6nds
! herself In connection with her war of
conquest against the Transvaal Re-
puoilc obliged TO borrow money, and
II tnat war continues may soon become
| willing to enlarge the metallic money
OF the world through renewed neg0tia.
| lions for an in crnational agreement.
Why not, tlen, now renew efforts in
the name Of the United States for
bimetallism 7 Why undertake by the
Ii st ten lines OF this bill to strike one
more blow at RECOMMENDATION and fal
silly ali the pledges which the Republi.
can party and Its leaders have been
making In all these past years? sit
possible that we were all mistaken
when these pi, lges were made? W,r-
VIC blunderers, 50 Ignorant OF the prin.
cipIes Of financial science that we
loudly shouted oyer and over again for
the reconciliation OF silver when gold
mOnOmetallism was toe true financial
system Is 1t not quite posi- BILE that
wo were right then and that we are
wrong now II 1t Is proposed to forever
discard any idea OF the remonetiz alton
OF silver and to complete the work of
establishing golG monometallism as
the final money system for the United
States and the world2
Tie Senator from Rhode Island s1ys
that 1t iS not intended by this bill to
! reject OF international bime-