People's Pilot, Volume 6, Number 16, Rensselaer, Jasper County, 8 October 1896 — The Demonetization of Gold. [ARTICLE]

The Demonetization of Gold.

History goes on repeating itself from age to age, with unceasing endless certainty. Given certain conditions, and what humanity as a whole will do can be estimated with almost mathematical certainty by the real studentof history. It is because mankind as a whole has not changed. Culture, education and Christianity have not altered human nature. Men are inlluenced by the same passions, possessed by the same selfishness, and swerved from justic. truth and virtue as that they were when Cain killed Abel, when Judas betrayed Christ for money, or -Benedict Arnold and John Sherman turned traitors to their country..' A good illustration of the fact is found in studying the history of the demonetization of gold. What—gold demonetized? says the incredulous reader. Yes, it was, in the lifetime of the writer and of all middle aged men, by nations of Europe, with a population of 70,000,000, and the same reasons existed for demonetizing it there that caused the demonetization of silver in the United States only sixteen years later. The purpose was openly declared to be to ‘•protect” the creditor classes. The discoveries in California and Australia in 1849-50 led, during the following few years, to a great production of gold, and to rapidly rising prices as a consequence. Then arose a class of men in Europe who pointed out that this rise in prices was injuring all those who live upon interest, and all the titled nobility. No complaints were heard from the tradesmen or workers, It was only among the creditors and money loaning classes that complaint was made. All the rest of the world was prosperous and happy. But these classes controlled much of Europe—in fact all but France—which yet remembered the Reign of Terror, and had a wholesome fear of “the masses.” The result was Prussia, Austria, Holland, Belguim and the South German states demonetized gold. They closed their mints to the free coinage of gold and enacted laws depriving it of a legal tender quality. Portugal closed its mints, and enacted that no coin except the English sovereign should be a legal tender. Then how pamphleteers and reviewers did rail at gold, as dishonest money, France alone stood solid for bimetallism, and French statesmen were denounced with all the epithets which gold bugs now apply to silver men. They were repudiationists, Adullamites, visionaries, frauds and scoundrels. But France stood solid and the affect of the shylocks to make the world monometallist was a failure. France alone upheld bimetallism against the six other most powerful nations in Europe, just as the United States could now sustain it against the world. Tne lesson is found in the unchangeableness of human selfishness, and the desire of men’s hearts for unjust advantage, dominion and profit. There has always been a class in every country who believed themselves possessed of a divine right to rule and receive tribute. In Europe they were born booted and spurred to ride the laboring classes, who were born saddled and bridled for their mental service. In this country the birth right of ruling among men never existed. The fundamental principle of our govejnmant is equality, which every one believes in except goldbugs. As a rule they do not believe that a republican form of governtaent is or can be a success. Since our civil war that class has been steadily, rapidly and insolently pushing their unjust claims as they are pushing them now. Men talk about those who recognize the world old truth that classes exist, arrayed against each other as if they were criminals for seeing and telling a truth. The great body of people who work

with their own hands through all the weary days of the year; the mirer who risks life and limb far down from the light day while he wins the metals' that made civilization; the farmer who forces from a reluctant earth the support of men and nations; the mechanic who make valuable and beautiful things to minister to the wants of humanity, and all the toilers of sea and land are arrayed upon one side, demanding only equity and justice, On the other are owners of capital, men whose vision of right and love of justice are ob scured by the crooked shadow of Mammon, the least erect of all who fell from heaven, asking Whatever advantage they can find in legislation and exemptions from taxations. They crowd the legislative halls asking for aid to every human enterprise except one—the greatest of all—the cause of labor. They go into Congress backed with bonds and banks and money, and monopoly follows in their footsteps and fattens on their selfish and wicked work. Thpy sway political conventions, blind the pub, lie to the truth with lying journals, purchase the corrupt and fool the honest and shape legislation for private gain and individual monopolies. And then they tell us there are no classes, no class interests and no class legislation which makes the rich richer and the poor poorer, and e’xpected mankind to believe them.