Year: 1879

Gratis in this section are poisoned with


what is known as Greenbackism. They


want more money; but, as the Demo-
Gratis think, are not sufficiently guard
/ full as to the quality of that money
/ The Greenbackers doctrine is that the


value of SO bill is only dependent


upon the faith of the Government
and that the Government can make
any amount so at par value simply by


its word--its authority. The Demo


cratic idea is that for every paper dol


lar issued there must be coin dollar
in the treasury to redeem the same
gold or silver. The Republican idea
is that gold alone is the standard of


value.


The Republican idea is that gold has
a fixed value all over the world, and
that paper money, based on gold, is
bound always good and honest money
for the people.


The Democratic idea is the same as
Republican, except it adds silcer as of
a substantial value all over the world.


The bondholdcrs and gold men very
generally oppose the silver idea now
being pressed by the Democrats, on
the grounds that silver is of less value
than gold, and that hence it would
depreciate the present value Of paper
money.


The Democrats believe if they could
have passed their bill for the free coin
age of silver-plaeiUg silver on equal
footing with gold as a debt paying
power, tho couotry would have found
great relief. They believe if you turn
the American silver mines loose and
unlimited by fayoritism to gold coins
age that money will become plenty,
and that the money will have ra2Uc,
and a value recognized by the world
The Democratic idea is con6ned to no
fixed per capita amount Of circulation,
but we do demand that every paper
dollar Issued shall have a representa-
tive coin dollar 10 the vaults of the
treasury. Mr.. Alex. II. Stephens,
(aud he fagors a circulation Of s900,-
OOO,OOO) says:


When a man gets his certificate for
silver, if it is for quarter. q half, or
iVe or ten dolIars-(the Warner bill
was only for $40, but | want it down
to a quarter, for change, and let those
have it who wish it)--when these cir
tifeates are issued aud the coin is in
the treasury, it is 20 bill, three out for
one in, but it is the representative of
the coin itself. These certificates would
circulate not only 10 the United States
and everywhere, but be good wherever
the f1g floats and we have any COM
merce. Should this bill pass and our
mines be put into operation and the
silver come from other countries as it
is represented il would come, and as
hope it may, we will soon reach that
condition. Some people used to be
afraid of silver flood, but would
invite it from all the mines of all the
earth until / got a thousand millions
here and paper currency based on it;
currency equal to any that ever was,
and l believe the best.


T. =, ra1ara 20
the panic of 1873. He says Germany,
France, Italy, England-all those
countries suffered as much or more than
we did. What was the real cause Of
the panic of 1873? It was the demone-
tization of silver in Europe Germany
took the lead; the Latin States follow
ed; and it was brought about without
the peoples understanding or knowing
anything Of it, and it was followed up
in this country, in 1878, about six
months before the panic What was it?
From the days of civilization, from the
dawn. of the Mosaic history aud ante
rior so far as we get the record, the
world has had two standards of value
Il mean the civilized world-gold
and silver They have been together
running down from the time the cave
Of Macpelah was bought with such an
amount Of silver 1t is known as the
bimetalic system-double metals-and
the two from the days of Babylon thew
have come down to 1873, running along
and bearing the proportion from ten
to fifteen or fifteen and a half. In our
country from the beginning it was
about sixteen to one-twenty five eight
tenth grains of gold was dollar; 4I2d
grains OF standard silver was a dollar.
They were by law declared equal. Thcy
were tie double standard. 1t was so
until recently, when the money holders
of the world craftily in legislation got
the silver struck out. At that time
when. by the best estimates, the most
reliable. in round numbers, there were
$4,000, 100000 of metal money in the
world, silver aud gold -Four thousand
five hundred Of these millions were
silver. More than one half the money
of the world from time immemorial
was stricken from the roll of debt nav
ing capacity. Here is the fault. ir nv
judgment, of the panic in Europe-
Germany, Italy and Englaud-and it
succeeded hero whenever Congress
passed it, and no man can tell now
when aud where it got through. 1t