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About The Lebanon express. (Lebanon, Linn County, Or.) 1887-1898 | View Entire Issue (Sept. 17, 1896)
PEB'Oim POINTS. The Fallacies of the Gold Stand ard Clearly Exploded. (Bpseeh delivered at Balem Sept. ! , by Boa. Sylvester Peaaoyer.) FuLLow-CmzsNsorMAEiON County: I appear Wore too to-day for the pur pose of addressing 70a briefly on the peat overshadowing question of finance. I shall not attempt to famish complete Btatistlce or formulate definite argn menta on behalf of the restoration of sil ver aa standard money, which 1 favor and which the great man of the Amer ican people faror. They are not parti cularly needed. The even ti ia thia coon try for the latt quarter of a oentury, and more especially for the latt three years, nave been replete with convincing ata tiitice and penoaalTe arguments against the single gold standard, putting to shame the eloquence or arguments of the most learned statesmen or the most profound scholar. Two years ago I said in a reply declining an invitation to speak in Montana, that "if the prevail ing hard times would not persuade the people of this oountry to abandon the existing gold standard, then no elo quence of mine could persuade them, neither would they be persuaded though one rose from the deadl When such an orator as the hard times now brought npon this oountry by the.adoptlon of the single gold standard policy is abroad in the had, carrying conviction to every hamlet and every fireside with such force and power as to completely shatter old party ties and the political associations of a lifetime, and to solidify in one political organization the almost unified masses of the conn try, then individual argument has lost ita fores and personal eloquence ia be reft of its power. The oareful student ia well conversant with the fact that there have been repeated occasions in the world's history when great move ments of the people hare occurred, which, in their depth, extent and power completely refuted the claim of individ ual leadership, and even passed the lim its of human guidance. In 1814, Napo leon said, " one year ago all Europe wss marching 'Bjrith na; sow all Europe ia marching against us." There was then great and almost unaccountable change of public impulse and sentiment, and such a wonderful change is occur ring in this country to-dy. , the ajEvufOi Qtntemos. The advocates of the single gold stan dard are still endeavoring to divert the attention of the people to the tariff question. They claim that the present tariff is the cause of the present trouble. It is a protective measure, affording an average of 40 per cent protection, nearly aa high as the war tariff 0M86I, and yet because a few articles which before were I protected were left by it unprotected, they endeavor to fasten the wide-spread disaster which has overtaken the coun try upon the slight change. The main Industry left unprotected by the pres ent tariff is wool-growing, and they use - wool to pull over the ayes cf the people. The present paralysis of business is eansed by financial and not by tariff legislation. 1 In May, 1890, while making my can vass for governor, I spoke at Browns ville, Ashland and Oregon City, at all of which places are large trick woolen manufactories. We then had had tw-n-ty-nine years of wool protection, the McKinley bill was then pending in con gress and sure to become a law, whic afforded greater protection, and yet those three large manufactories were idle and had been so for about six months. What was the matter? With iheep on its thousands of hills, with large woolen manufactories and with ita people needing its products for nearly every night on this canvass I slept under cotton comforters why was not Oregon manufacturing woolen goods! It cer tainly was not because of tariff. It waa entirely owing to the fact that the volume of money in the country .had not kept paoe with the increase of busi ness and population, and so the prices of products and profits of business, aa well as the wages of labor, had fallen so low that the people were unable to make anything and so were denied the nec essaries as well aa the luxuries of life. It ia indeed a most sad commentary on the condithm of our country, rich in toils, and fertile in ita resources, when a large proportion of its domestic immi grants are born into -the world, and shiver on their advent, because their parents cannst -afford the soft woolen ooveriug needed. The idea of McKinley that he can raise our people out of the 1 slough of poverty in which they are now placed, by taxing them still more when they cannot get money to pay their present taxes, is indeed so brilliant aa to make him unique as a statesman, and so novel as to entitle him to secure on it letter! patent without question. TH UWOMI TAX. Three years ago in ita law providing for revenue, Congress instituted an income tax. If it had been collected as it ought to have been there would have occurred no. deficiency of revenue, but at the instance of the wealth of the oountry, which has, w.th a brief exception, enjoyed an immunity from federal taxation, the Supreme Oourt overturned the law and therewith two of its own previous decis ions. The President thereupon refused to enforce the law of Congress and so, while the law stands on the statute books unrepealed, it has never been en forced and so remains a dead letter. An income tax it the most just tax. that could be levied. A tariff tax is a tax upon the industries of the country, while an income tax is a tax upon the wealth of the country. A tariff tax is neces sarily an unjust tax, as under it a poor: man pays as much as the rich man if he lives aa well, while he pays more If he has a larger family. An income tax is one under which every man pays accord ing to his ability to pay. The most dvilixed governments levy an income tax. it is in reality the back bone of the British revenue ystw, it -is about io sw tftftiyfalfwd bj I grfcftaffad Iota w ......3i-" ' . irance, and in Qermany it exist in th extremes degree. It is the law in the United States, but it ia not now enforced owing to a lit of dyspepsia on the partof one of the judges of the Supreme 0 mrt. and a fit of weakness on the part of the federal executive. Under the next ad ministration It ought to be enforced The next execntive will take an oath that " he shall take care that the laws be faithfully executed," and he un doubtedly will see that the income t.u law will be enforced. In order, how ever, to avoid any possible friction be tween any of the department of govern ment, Congress should at in earliest convenience pass a law inhibiting aiiy ol the federal courts, through writs ol injunction or otherwise, from interfer ing with the collection of the national revenue. They have no such constitu tional right now, but they imagine they have, and therefore Congreee should al once settle the matter. The federal inferior oonrta are the creatures of Con gees and Congress can prescribe then jurisdiction. Of this there is no que Hon, and such an inhibition wonli he binding upon them and would leavi Congress untraiumeled in the exercise of its exclusive constitutional proroga tion "to levy and collect tniea." BO-CALLED BOUND MONEY. A very great dear la now being said about sound money, but when the sys tem of the sound money advocates if thoroughly diagnosed it will be found to be the very direct opposite of a sound money system. Misleading and delusive adjectives have wrought a vast deal ul misery in this world. 1 hi-serpent per suaded Eve that the fruit of the forbid den tree was "good" fruit, anil as a consequence our first parenta it driven out of paradise. The siinrl gold basis advocates have pereuaiied C ingrert that theirs was- a "Bound" money scheme and as a result our country ia plunged into the pit of industrial tie pression and financial disaster. What ia the sound money doctrine? It is In have gold alone the money of redemp tion, to stop the coinage of silver, to convert greenbacks and treasury not. into bonds, and to allow the banks to issue bank paper based upon these bonds. or, aa some demand, upon thu.r capital derived from other sources, 'ihe bank paper would not be a legal tender and so the great bulk of the currency would ( be a non-debt paying currency. Now sound money is money with which deta can be paid, and any currency with which debts cannot be paid is nut sound money.- v . it will thus be seen that the so-called sound money scheme is one that would foist npon the people a vast volume ol bank rag-money, which would have to be presented to the bank issuing the same before it could be redeemed, and which paper when issued by the banks, aa is -the custom now, would be sent by them to distant pans of the country so that it would he difficult for the bolder to present the same for redemption. It is a delusive, dangerous scheme of tlie banking fraternity, which has fattened and grown arrogant by governmental favors to not only control the gov ernment but also to enslave the people. The only thing sound about the scheme is its appellation, and that must be used only in a Pickwickian sense. It is alleged that the prince of dark ness when occasion requires in order to further his nefarious purpo ea can ap pear as an angel of light, and in imita tion of this illustrious example, if not animated by a like purpo.-e, the advo cates of an unsound batik rag-currency, bereft 01 a debt-paying powee which they propose to be the main aud only currency .of circulation, ore now atti tudinizing with all the grace of public neneuctors, before the people of this country as the only advocates of sound money. The plain issue is between the sliver dollar and the bank note; between "hard" legal tender money and "rag" non-legal tender currency, and the so called sound money advocates are the stout opposers of the sound "hard" money plan. SEAL SOUND MONEY. The money system proposed by the three allied armies of reform in the present presidential contest is the only real sound money system. It is to do away with bank payer entirely, to coin both gold and silver- into standard money at contemplated by the consti tution, and to have the paper currency required by the demands of trade and commerce issued direct by the govern ment, and all the mney so coined or issued to be real sound money, a full legal tender in payment of all debts, public and private, allowing no indi vidual to discriminate against any of the money of the realm. With such money in the possession of the people, prosperity would immediately follow. The money in hand can be need to pay the debt at hand. There would be no scurrying around the country to get mils on tne nearest nana, and no necess ity of paying commission to the bank's broker, or obeisance to bank officers before you can pay your debts. Thia system of finance wonld relieve the people 01 tuts country from the existing bank tbralldomand would liberate them from the care qf the British money lords who are now oaring for the American people as the wolf cares for the lamb. If this system had been adopted and followed by the government 'from Ita foundation as proposed by the immortal ! Jefferson, who siffd, "Bank paper must 1 be suppressed, and the circulating me- j dium restored to the nation, to whom it belongs,", and as proposed by Jackson, ! Who was equally opposed t j bank paper ' and who favored government bank ! " founded upon the credit qf the gov-' eminent and its revenue," how different. ' indeed, and how muoh more prosperous might nave been the condition of the oountry in the past and at the present time. The periods of depression and panic which have carried sorrow and ruin to countless homes, and which have always resulted in the loss of the many for the enrichment of the few might have been avoided, for so long as the government issues all the money of the oountry, clothing it-ail with full aM tstxLas-anAlkiae. is sw asais Sail sasav JvnBBBW sssBBBBBBjsifisBaBnr Sjsf snsBpf SBBVBBy sWBjSS below par while that government is solvent and is in the possession of plen ary taxing power. There never was au instance in the world's history to con trovert this proposition. Such being the case, the citizeus of a government possessing such a financial system, would be subjected to no periods of panto or depression, ruinous to some and harmful to all. All gold and stiver should be coined and the amount of paper money should be regulated by the demands of trade and commerce. NtKD OF SILVER AH UBDBIUTION MONEY. It ia estimated, in round numbers, that there ia in use in the world aa money about tour billion dollars of gold, silver and paper each. With both gold aud silver as money of ultimate redemp tions there would be no difficulty what ever in carrying at par the present or even a greater amount of paper money. Eight billion of metal money Is a broad base on which to rest four bilious of pa pr money. There is plenty of coin with which to redeem the paper, end bo there will be plenty of confidence that it can be redeemed. There has a great deal been said about our present financial difficulties being the result of a lack of confidence. That la indeed very true. But the lack of confidence results from alaok of coin. With plenty of full re demption coin money there will be plenty of confidence. With a scarcity of such redemption money there will necessarily be a lack of confidence. Coin ia the basia of confidence. - The American money system that wonld make both gold and silver the broad base for the support of the required paper money has, however, been supplanted by the British system, that makes gold alone full redemption money and the base of support for both silver and paper as cur rency. And so the world now has a tour billion base and an e'ght billion su perstructure. The wise- men of the banks and the wise men of the public press assure the people that this plan ia the very proper thing, and those who differ with them are unschooled in finance. The American financial policy demands that the pyramid should stand on its base; the British policy demands that it shonid stand on its apex, and the Republican party and the Cleveland ad ministration have adopted the British policy, and make gold alone the money of redemption. On July 1st, 1886, treasury reports show in circulation in the country at that time: Silver certificates, three hun dred and thirty-one million; treasury notes, ninety-five million; greenbacks, two hundred and twenty-five million; national bank notes, two hundred and fifteen million; total of eight hundred and sixty-six million. This amount, ac cording to treasury practice, was re deemable in gold, and at that rate the treasury held one hundred and eleven millions of gold with which to redeem. Our so-called wise men of finance call thia a sound money system. It is sound in the same sense they are wise. After having borrowed $262,000,000 of gold in the last three years, we now have in the treasury about one hundred million ot gold with which to redeem about nine hundred million ot paper. The pyramid is standing on its apex, and sooner or later will topple over. Can any one expeot a restoration of confidence under such a condition? If silver as well aa gold waa money of redemption, the base would at once be broadened, and confi dence would be restored, A BOlNOUg POLICT. From 1866 up to 1868, 194,000,000 ol greenbacks had been turned into bonds, when in that year the friends of the greenbacks cried halt and saved $340, 000,000 from destruction. That was twenty-eight years ago. One dollar at interest at four per cent, compounded semi-annually trebles itself in twenty eight years. But for such opposition, the bondholders would have received on that amount of bonds 1602,000,000 and the government would still have to pay, aa it does nave to now, $846,000,000. Is it any wonder that the money lender favors the issuance of government bonds? Is it any wonder that the people oppese such a polioy? Curing the three years ot the Cleveland ail ministration that has closely followed the policy of John Sherman and the Republican party $382,000,000 of bonds have been issued in order to sustain the single gold standard, some ot which rqn thirty years. In twenty-eigbt years the bondholder will hare realized $531 000,000 on these bonds, and the govern ment will still owe the $262,l00,t,0J. If the present administration hated silver so much that it would not permit of its coinage into standard money, it could,, instead of issuing interest bearing bonds, havesecured from Congress the privileg3 of Issuing non-interest bearing treasury notes, and if those notes had been made a full legal tender inpayment of ail debts, both public and private, over ten million of dollars interest money could have been saved annually and probablv they never would have been presentf-"' for redemption, as they would perform all the functions of money. - If this had been done how different would have been the condition of the country today. The treasury notes would gladly hae been taken by the people, they would bay entered into general circulation, they wonld have supplied to just that extent the money so much needed to restore business and revive industry. It (s indeed the misfortune qf the pres ent administration that lu record will go Into the pages of history, linked with fetters of shame to bond issues and hard times, when it might just as well have been associated with the restoration of silver, the issue ot treas ury notes and the return of prosperity. Jefferson favored the issuance of treas ury notes and $10,000,000 were issued by the Van Buren administration, while the Democrats of every period have favored "bard money," which means both gold and silver in preference to bank currency. Th present adminis tration has rejected, on the finamje question, the traditions of the Demo cratic party. tut oau&k or rAwcs. IMUnf ii la hsmttrat to UUmti, nothing has caused to much misery, Buffering and despair aa the frequent periods of depression and panics which have visited the country. The cause of these panics in every instanoe has been the same money conti-aotion. The great panic of 1887 was caused by the demand of the Federal Government for ; specie in payment for the public lands, j and although all gold and silver was I then coined at the mints, the volume of metal money was entirely inadequate to the requirements uf business. Demand on the banks was made for the required specie, to which the baulrs could not re spond, and the whole fabrio of bank currency, baaed on the money distrib uted by the Federal Government among the several states, became nearly worth less. The business of the country, re stricted to the insufficient volume of metal money, became crippled, and dis aster and ruin followed. The panio of 1867 waa primarily caused by the act of Congress, Febru ary, 1867, demonetizing foreign coins, which np to tbat date had been legal tender money. In 1868 Congress had demonetized all silver halves, quarters and dimes in sums over $6, and how, Congress, having demonetized foreign coins, the banks could no longer hold such demonetized silver as reserves, and they were sent out of the oountry never to return. The panio of 1878 was eansed by the contraction of currency to the amount of over one billion dollars. Thia vicious legislation of Congress visited npon the country one of the severest panics in the whole world's history. The pros perity which had prevailed even during the war waa followed by a period of unparalleled depression. The census re turns show that the wealth of the coun try in 1860 was fifteen billions; in 1870 it was thirty billions. With sufficient money, more wealth was created in one decade than had been created in all the previous years of the nation existence. From 1866 to 1878 the contraction of the currency, exclusive of coin, was $1,280, 808,086, With the loss of the currency was indissolubly linked a stoppage of business enterprise, the depreciation of values, the stagnation of trade, and the enforced idleness of countless thousands of American attizens, who were con verted into tramps by the very same legislation that had converted the bond holders Into millionaires. The panic of 1898 was caused by the most foolish and criminal policy inaugu rated by the Harrison administration and followed by tbat ot Cleveland, of making gold alone the money of redemp tion. Since that policy has been adopted, and since silver has been discarded as standard money, the business of the country has teen dwarfed to the narrow gold basis, and wreck and ruin have fol lowed in the wake of the contraction of the volume of legal tender redemption money. History, reason and experience of mankind all teach the same lesson in finance, but the monometallism heroic allly combat all these lessons. They arc wise only in their own conceit. The fol lowing statements are furnished without comment: Amount of currency, exclusive of coin, in treasnry and circulation ot, September 1, 1866, as taken from book of the treasury department by Moses W Field, (Onr Money Wars, page 173). CURRENCY SEPT. 1, 1803. U- 8. Mt U3,160,Mtl Fractional svrreucy...,, tu,M4,74': National lank notes ISi.iKji.UNr Compound Int. 4gil-tluUr aoUl.. 117,024.1" Treasury A per cent togal-tender... W.'iwwi Temporary loan oertitioate Iii,l4&7l GortuVutoiiof uuUbteouou U,JUj,tuu Treasury ootes past due l,.'J,U0t But bank notes... ?i,sk7.&76 Thrw year trimury notes Wo.iaii.uji Total Il,tte,sls,nv Amount of currency, exclusive of coin, in treasury and circulation, July 1, 1806, according to the treasury reports of that date: CURRENCY JULY 1, 1800. In circulation. Sold certificates I4'8OT,7! Stiver oertiaoatee. ttll,g,tMjtj Treasury notes "SJ 0 ',2.7.nai U. 8. notes U),,ll,:)S Curreooy oet tilloatea ; , jil,S4u,o (1 Itatloual bauk aotas 21&,ai,&T in treasury. Gold oerunuats , tftj.t e Silver oartinoates., U,3Jj,wu Treasury notos DJ 94,totdti U- 8. notM ua, a,,'Os Curtesy oortlllcate,, 160,ouu nanenai uaoa notes. W,Sw,u$i Total,,, ,,,. ...i,ii,i,si - aweu in no pvr 'tis, nye.tuw.im. -DEBT AND BONDAGE. Thirty years ago there waa legalized oonuage m mis country q toe colored race. To-dav there is the leiraliwil hnnH. age of the whole seventy million of American citizens. The policy of bonded indebtedness and the contrac tion of debt-paying money has, been prosecuted by the monay-oaert until we are nearly bound hand ami fnt i their toils. Business is so unproductive inai tney are willing to invest in gov ernment bonds at 8 and 5U na ,..i , jv WUV, During the last years of Buchanan's ad ministration, on account 01 the Utah expedition and the small revenue de rived from the low tariff ti, , V I niont. desiring to borrow money, was .,1J tr. vviupeuvu w pay over iu per cent ror it. That showed the fact that ITintmv in. vested in business was so remunerative mat 10 per cent government ootids, were undesirable. All thia la The onlv thins- that now nnvu la n,n.... invested in government bonds at from at to 0 per cent, in the last throe years the government of the ITnit h,ui. has issued $262,000,000 of interest-bearing bonds, and the control of the fed eral government is now in the hands, of the money lords, with the president as nominal figure-head. With heavy Inter est to pay the foreign bondholder, and with heavy taxes to pay the vast army of federal office-holders and treasnry leeches, and deprived of good and refit oient money w(th which to pay, the American citizen toay u n . dltion with the isritolitos in Kgypt, who were compelled to make their required tales of brick while floiirivi'd nV lha ' v "MB CJ" f'T''rw. Waero is this policy to and? If oontintKBl, what will be the come absorbed by the few, and they will 1 ? "fT ?w w"oh. '""J"" be the task-masters of the world. "'""J During Jaok. Mulhall, the English statistician, eati- son's admlnlstoat on, In the futile effort mates the total amount of the gold '? olronmvent him, the Bank of the money of the world at six billion dol- United Si palpitated In panio upon lars, which is two billion abov. the " country. At the outbreak of the general estimate. Of this amount the Civil War, the gold of he bank was Hothsohilds now own one-fifth. Put in withdrawn from circulation and lay government m per cent bonds and, com- hidden until it could come out and fat pounded semi-annually, their wealth in ten nMon 8 Moer. 4 nw ln 68 years will absorb the entire stook oi " present war between the producers gold of the world, and if we remain on of U"""4 Htt Mi th,m,!7 a gold basis, they will be the masters oi P"" of 0rM' Wuin, we find the the world. Prior to the discovery of banks of the country occupying aposi America by Columbus, the entire money on Mial with that which the Toriej of Europe bad passed into the ooutrolol oaraP1 Revolutionary wars, one class of men. Under Providence, Th'r1 aomething ln the business of America was discovered, the precious mone)r onanger and the money ...tat. j v lender, whloh la calculated to blunt the liberated from its thraldom. Provi- denoe has placed within our reach the precious metal silver, whioh will enable us to liberate ourselves from our im pending thraldom. The Issue Is a plain Issue. Shall we continue on a gold basis and remain the serfs of the money lords, or shall we restore silver as standard money, break the ahaokles whioh bind us aud stand forth as free men ? GOLDEN IDOLATRY. Idolatry is an iuherent sin in the human race. And it is a grievous sin. There la no sin upon which the Almighty looks with more displeasure, and there has been nothing which has been more Idolized than gold. Stocks and stones, images of wood and clay, beasts and reptiles, the sun, and fire have all had their worshippers, but to nothing else has the devout and wide-spread homage been paid that gold has received. Ne buchadnezzar, King of Babylon, erected a golden image 110 feet high to which the homage of the entire nation was bestowed. And the chosen people of God after having passed dry shod through the Ked Sea, after having fol lowed the pi lar of cloud by day and the pillar of fire by night, after having drank from the smitten rock and eaten the heaven-sent quails and m nna, and right following the visible presence of the invisible God amid the clouds and fire, the voices of trumpets and the thunders and lightnings of Mount Sinai, while their chosen leader was still on the mount, made them a golden calf and worshipped it, utterly forgetful of the God who had so miraculously led and sustained them ln their journeyings. And even now in the latter part ot the nineteenth century, and in the broad light ot the experience aud civilization of the whole human race and the irre futable evidence of our Almighty Ruler of the Universe of nations and of men, we find as in the ages of the past, an unaccountable idolatry of gold. Now, the object of devotion ia not the shape of the Babylon tmm;e or the braelltish calf, but it is in the form of the British gold basis. The devotees of thia basia are just a unreasoning and unreasonable aa ware the devotees ot the image and the calf, and will not God punish thia idolatry as he hs formerly punished It? Three thousand Israelites fell tor their Idolatry and King Nebuchadnezzar for his was was driven from men and did eat grass like oxen. And for this idolatry of a gold basis ia not a whole nation suffering! Let us hope tbat, like the Babylonian king, the worshippers of the gold basis will ulti mately have their understanding re- tnrruiil ttntn Mum,, thaf Mm axil U. -------- ------ , '' !' VIII t"V hmtv luiiivireu upuii iiib uuuil.rj Wy 1 Q lifted from an afflicted people, an,i hat silver mar be restore standard money and proap:iiy may ta relltoreii to the land, DEPRECIATION Otf VALUE. Justice Walter Clark of North Caro lina said that on a recent trip to Mex ico, when arriving at Kt Paso he ohauged his United States money into Mexican money, receiving nearly two dollars for one; thai twenty years ago both dollars were at a parity, thus demonstrating tbat either the Mexican dollar had de preciated or the United States dollar had appreciated) that the Meiican dol lar had not depreciated, as was shown by the fact that cotton was 14 cents a pound, wheat a dollar a bushel, aud wages the same aa when the two dollars were at a parity, while in the United States cotton was seven cents a. pound, wheat fifty ceuta a bushel and wagea about half their (firmer rates, shuwir e conclusively that the United States elation bad been to the loary of the laborer and producer and. to'the benefit Hl.,?0nJT0WM', Tlne 0' w'"e wealth had been really doubled by our financial policy, whioh had demonetized silver and places the country on the narrow gold basts, A Missouri farmer about a year ago stated that corn was then twenty cents a bushel and potatoes ten cents a bushel, aud that if the salary of President Cleveland for one year was paid in corn and potatoes, it would take to pay It 186,000 bushels of corn and 860 000 bushels of potatoes. In the spring of 1888 President Cleveland desired the banks of the oountry to give to the peo ple an ' object lesson," whioh would force them to acquiesce in the repeal of the Sherman law. The banks, in obe- j dlenoe to his wishes, withdrew thei loans and. precipitated the panio of 'ua"t jaar, which prostrated the Industrie, a nation, ruiuiug millions an c,lrrye loss and sorrow to nearly: every house? hold in the land. That 'was i-i - most hateful and aaruif ul objeot lesson He could now partly atone for the wrong then done if he would give an other objeot lesson beneficial in ita teaching, If he would consent to take one year's salary in corn and and would build a big red barn on the shore of Buzzard's Bay in whioh to store them, that barn would be a warning to generations yet to mat against the foUy qf demonetising silver and con tracting the ourrenoy of the country through whioh fatal doHov t,n,J. ing power of his salary had wonderfully inoreased, aud the value of the farmer products bad woefully dsureased, THE SAtWNO. Wll, Thftt our worst foes "oral sense and weaken the patriotic spirit. And it was always so. 1 When the Savior of mankind was on earth, he found language adequate to condemn the sins of all classes except those of the bankers, upon whose back he laid the whip aa he drove them from the temple. Tbat the bunkers were the only olass which the gentle Savior scourged with a whip is a most remark able fact, whioh la well calculated to direct public attention to their conduct and its effects upon the community and the nation, and whioh should also serve the purpose to tbat olass of our fellow oltizens of subjecting their own motives and actions to a moat rigorous process of self-examination, It Is also a moat remarkable fact that of the twelve apostles chosen by onr Savior from the various walks of lira, no single one was base enough to betray Him except Judas, the banker. And it 1b no very violent presumption to sup pose that he, like nearly all bankers, was a gold bug, and that the remorse he suffered after his treacherous act . might have been in part occasioned by the regret that he lutd not demanded gold instead of depreciated silver as the price of the betrayal of his lord and . Haster. The pertinacity of the banking scheme to keep control of the finances ot the oountry by which the bankers ej dictate to the government and uhtve the people, and the absence rft remorse they exhibit In the ex)"4nsion of the volume of ourrenoy aj in C1,ntri0t, ing it, by which Veartleffl prooesa count less thousands are impoverished, while their accumulations pass Into the posses sion of the bankers, stand out before tin American people aa a most solemn warning, in the language of Jefferson that "bank paper must be suppress d and the circulating medium restored to the nation to whom 'it belongs, and In thelanguageof the oldJacksonlanDem. ooratlc platform " That the separation of the moneys of the government from banking institutions is indiapnnslble tor the safety of the funds cf the govern ment and the rignta of the people." MONOMETALLIC BUGBEARS, , A few yean ago .many persons wb. had learned the lessons taught b tory, and who, reasoning from. ' effect, foretold the disaster ' befall tha rnnnf. V . "um "u hat would " by the plutocratic i'r""' ""ntry, which invariably aeT9r th hankers take snuff " ".amity howlers." The tables are y . turned, and now the bankers and their rape become the very worst kindof "calamity howlers." They prognosticate all manner of evil from the restoration ot silver as money. They declare that it will dr. n ... .. the oountry. That la Just what they prophesied when the Bland law was passed eighteen years ago, and they now Ignore the fact that from 1878 to 1890, while that law was in operation the treasury reports show that the impoiV of gold exoaeded tha exports by , Jt hundred and twentyfour mllllp-, that the stock of gold inoreaaV, ,??,. oountry over $460,000,000. M ,n ,B Another bugbear la , tions will flood our o,"' There Is no danger- ffili T sire more silver. .'. Kl 'S Mtion' "t like it if w - Bnd wonla T,rT "h"1 jry- o purchase it as they have "77 aoing at lie depreciated value, al -mtaodity instWof being hereafter compelled to pay Its real value aa money, Another bugbear la that the restoration of silver la ln the interest of tha silver mine owner and would benefit him. Ita demonetization la in the Interest of the gold mine owner and why should he be benefitted any mora than the silver mine owner. Both gold and silver are money metals so reoogv nixed by the Constitution and both ' should be treated exactly alike. V oourse the restoration of silver y' ,'i benefit the silver mine owner fZ sameaa it would benefit all df 'J, T. including those who y ."f 'T fighting against it. - M b"TOlJ value of tha U'VL ? "a"1" tUt of tha HUktm du" IMtthaF Jllcn dol' es in tha JPJJ Vhile the Mexioan dollar if not U not true. From 1878 to October aet vara OIUU IVr UU3 IQOI119t supposed that the United States treasury would ever be foolish enough to redeem silver certificates or the treasury do tea in gold and yet during that period, the aame as since, their increased nln. .... juwean qoiiar was maintained. Ihe old trade dollar of W grains, not a legal tender, sold at discount at from five to fifteen per cent, while the presen standard dollar of 412, grains sW about at par, and would forever , j fully at par if it waa nude ', Jnd tender, whioh It is not nor '"!' ty1 , gives the banker thttl V J' . th' jw -lege which no ota ' im of the earth mT on tn disoriiaiuatiu, VV , ta eMuu o fol tuoej oV ,ttl,u,t the Jaw stand? r'the r)1,lm' Btore sllve .d money, make it a full leg, private, refuse to any aud all oiti-. , ", " '""'"'" against it j u men me Uemanil fe i, ' hard money will be au neat as to' for! (Concluded On second p.,g, -.