People's Pilot, Volume 4, Number 11, Rensselaer, Jasper County, 31 August 1894 — BEING STUDIED. [ARTICLE]

BEING STUDIED.

Attention That Is Being Shown the Silver Question. The silver question never has received so much earnest study as it is receiving l to-day. It never was of such vital importance as it is now, when much as we may deplore the fact, it is nevertheless a fact that we cannot hope for any favorable legislation for at least three years, and possibly for twice that long. Day by day the conviction is growing stronger among gold monometallist that the entire displacement of silver as a money metal has not brought about that “era of prosperity” so confidently predicted. What is the result? Loth to admit that the “crazy silver men” were right, the organs of Wall and Lombard streets are calling for a still further contraction of the currency. There are too many greenbacks, they contend, and this they insist is the reason for the present marked distrust. Heretofore our gold has gone abroad because the balance of trade was against us. Now it is leaving our treasury, and forcing upon us another bond issue, because European investors distrust the ability of our government to redeem its obligations There was never a time when the treasury could not have redeemed every silver certificate in silver, dollar for dollar, but the small gold reserve would not suffice to redeem the obligations of this nation, and investors are beginning to find this out. Instead of asking for the coinage of more money, they ask for the contraction of our paper money until it is balanced by the meager gold reserve. —Denver News.