Frauds and Falsehoods of the Republican Party (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892. Excerpt: ... CHAPTER V. THE SILVER QUESTION. THE moneyed power desires that the coin of the country be confined absolutely to gold, in order that they may be able, in case of an emergency, caused by some internal commotion, or a war with some foreign nation, or nations, to control its volume. In case of such an emergency, were silver destroyed as money, the bankers and brokers could easily control all the coin. The government would be placed in the same position it was in 1861, compelled to borrow or issue its own currency. With gold constituting the only coin, and duties shut off, in consequence of war, the money sharks would have the power to depreciate, and purchase the currency issued by the government, as they did before, and then ask the government to fund the same into interest-bearing bonds for their benefit. But were silver placed upon an equal footing with gold, a large amount would remain on deposit in the treasury, as well as in actual circulation among the people, and the business of the bankers and brokers, so far as cornering the government is concerned, would be virtually forestalled. They could not then force a premium on gold, for silver would be plenty, and would stand guard against the piratical attacks of money sharks in the absence of gold. This is one of the greatest reasons why they desire to destroy silver as money. Another reason why the moneyed power does not want a further coinage of silver is that such coinage has a tendency to supply the country with an amount of money commensurate with the continued increase of population and busi 358 ness. Our population is fast increasing, and the demand for money is increasing at the same ratio. But they desire a decrease in he volume of money as population and business increases. They deal prin...