People's Pilot, Volume 3, Number 17, Rensselaer, Jasper County, 13 October 1893 — SOUND VIEWS. [ARTICLE]

SOUND VIEWS.

There la No More Dishonest Dollar Than the One That Growl In Value. Betweed. the Makin* and Maturing of a Debt, la commenting upon the great speech of Mr. Balfour in England depicting the disasters sure to result from the alnfost universal adoption of the single gold standard, and u letter, published later, from Mr. Grenfell, formerly s governor of the Bank of England, on the effect of demonetizing silver, the Memphis Commercial commends the views of these great financial writers to the attention of those who hold that any other kind of a dollar except a gold dollar is unsound and “dishonest.** “There is no more dishonest dollar,” says the Commercial, “than the dollar which grows in value between the making and the maturity of a debt, which causes the burden of one's obligation to grow faster than the utmost possible accumulation of his labor, which, worse than Shylock, exacts a usury that was not nominated in the bond. Ours is a debtor country. All our great railroads, our manufacturing, mining and other corporations, our counties, cities and towns owe debts to foreign syndicates and bondholders. The burden of all this at last falls upon the people. The labor of the people must be taxed to pay the cost To add to the burden of these debts is to add to the burdens of all the people. It is all the people of this country who owe and must pay the bonded indebtedness not only of states, counties and municipalities, but of private corporations as well. England’s adherence to the single gold standard and her obstinate refusal to co-operate with other countries in the establishment of bimetallism is a selfish but shfirt-sighted policy. Her own people are beginning to writhe under it and to against it.