Posts Tagged ‘Gold Standard’

“… you are inviting revolution.”

September 13, 2012

Image from the Federal Reserve

Detroit Priest Criticizes Federal Reserve System
[excerpt]

He called upon congress to “recover” its constitutional powers to regulate the value and coinage of money, and added that:

“Unless you do that, you are inviting revolution.”

The Charleston Daily Mail (Charleston, West Virginia) Jan 16, 1935


Lake Park News (Lake Park, Iowa) Sep 20, 1934

Image from the Federal Reserve

ABOLITION OF FEDERAL RESERVE IS ADVOCATED

Editor of The Bee — Sir: If the isolationists wish to give direction to the government policies of the United States they should induce congress to dismantle and abolish the Federal Reserve Bank in toto and restore the United  States Treasury to the prestige it enjoyed prior to 1907.

At that time Kaiser Wilhelm of Germany ordered his bankers to get their money out of the United States and home to Germany. With that order, hell started on a rampage and where it will end is a moot question. We are not inclined to predict.

However, when a conflagration is raging, people who can are justified in taking preliminary steps at self preservation and one of these precautionary measures is to bring unresponsible agencies under disciplinary control.

The Federal Reserve Bank with its sanctions and its sanctions in reverse can do a lot of mischief. The efforts of the national administration to restore normalcy to commerce and industry are futile so long as an unauthorized agency can flout moral standards and carry on as it pleases, we use the term “unauthorized” advisedly, for when the war ended and the writ of habeas corpus was restored to the nation, Woodrow Wilson’s war time emergency acts ceased to have authority to continue their functions.

When the Democratic Party in 1932 gave the people an opportunity to vote on the socalled amendment, they voted it out. It had become nothing but a racket for the late Andrew Mellon’s personal benefit.

W.J.S.
Modesto, January 16, 1940.

Modesto Bee and Herald-News (Modesto, California) Jan 17, 1940

Ironwood Daily Globe (Ironwood, Michigan) Mar 7, 1935

Coxey Considers Another March To Washington

CHICAGO, Sept. 19. — (INS) — “Coxey’s Army” may march again.

That was the admonition today of “Gen.” Jacob S. Coxey who led the march of unemployed from Massillon, O., to Washington, in 1894.

The 91-year-old “General” told a meeting of 16, the Mothers of America, Inc., that he is prepared to encamp in Washington until someone introduces his bill to abolish the Federal Reserve system.

Lima News (Lima, Ohio) Sep 19, 1945

Lima News (Lima, Ohio) Jul 14, 1956

Delaware County Daily Times (Chester, Pennsylvania) May 10, 1974

Paste This in Your Hat

June 11, 2012

A Silver Song.

It’s silver, silver, silver
On every ringing side;
On every hand throughout the land
Swift sweeps the silver tide.
There’s a jingle in the cities
And a jingle on the plains,
And all the skies of springtime
Pour down their silver rains!

— Atlanta Constitution.

Freeborn County Standard (Albert Lea, Minnesota) Jun 10, 1896

Bessemer Herald (Bessemer, Michigan) Oct 3, 1896

“Free silver” is a phrase that appeals to the shiftless man who is always out of money. The expression seems to him to imply that under a free-silver regime money would be as readily obtainable as the air we breathe. The word “free” always fascinates men who do not go beneath the surface of great problems. “Free lunch.” “free silver,” “free trade,” “free country,” “free rides,” “free speech” — all these variegated expressions come to mean the same thing to many individuals who are not able to get past the adjective to the noun it qualifies.

— New York World.

Bessemer Herald (Bessemer, Michigan) Jul 18, 1896

Paste This In Your Hat.
As a republican I am proud of many things, but I can sum up as the highest satisfaction I ever had in the party and its career, that the prospect of republican success never did disturb business. — From Harrison’s Speech.

Bessemer Herald – Oct 3, 1896

The Rape of Democracy.

Poor Democracy’s slate
Is — God save her! — completed.
She has now but to wait
Till the same is defeated.

All their rivals o??-vyin’
In the Jacobine duel,
Mr. Congressman Bryan
And ex-Alderman Sewall

Have been put in command
Of the buccaneer crew,
Who have thoughtfully planned
To make one equal two.

Well may Grover decline,
As the fish spins his reels,
To give out any sign
Of the pity he feels.

Well may men who uphold
Honest methods of trade
Join the standard of gold
Where it flies unafraid.

Well may veterans flee
With a bitter disgust
When their banner they see
Labeled: “Silver or Bust!”

Since the party is cursed
With dishonest intention,
Let the fates do their worst
They can’t beat the convention.

FRANK PUTTNAM.

Bessemer Herald (Bessemer, Michigan) Jul 18, 1896

Bessemer Herald (Bessemer, Michigan) Jul 18, 1896

A fine ounce of gold is worth $20.67.

Sixteen ounces of silver are worth $11.20.

Congress can legislate until it is black in the face without making the ounce of gold worth less or the sixteen ounces of silver worth more.

— New York Press.

Adams County Free Press (Corning, Iowa) Aug 20, 1896

An ounce of gold is worth $20.67 in the open market; an ounce of silver just 70 cents. Only the law of supply and demand can change their relative values.

Congress is powerless to effect it even if it were clothed with the authority to attempt it.

Cambridge Tribune (Cambridge City, Indiana) Aug 27, 1896

I do not know what you think about it but I believe it is a Good deal better to open the mills of the United States to the labor of America than to open the mints of the United States to the silver of the world. — Major McKinley, at Canton, August 12, 1896.

Bessemer Herald – Oct 17, 1896

The Financial Calendar.

The following financial calendar of the past quarter of a century shows what the leading nations of the world have done with silver during that period:

1871. Germany adopted a gold standard.

1873. Belgium suspended standard silver coinage.

1873. Holland suspended silver coinage.

1873. Denmark adopted a gold standard.

1873. Germany demonetized silver coins.

1873. Norway adopted a gold standard.

1873. Sweden adopted a gold standard.

1873. United States suspended free coinage of silver dollars.

1874. The Latin Union limited their silver coinage.

1875. Suspension of silver coinage in Italy.

1875. Switzerland declined to coin her quota of silver under Latin Union.

1875. Suspension of silver coinage on account of Dutch colonies.

1876. France suspended the coinage of silver.

1877. Finland adopted the gold standard.

1878. Spain suspended the free coinage of silver.

1878. Latin Union suspended coinage of silver except subsidiary coins.

1878. United States resumed coinage of the silver dollar, but on government account.

1879. Austria-Hungary suspended the free coinage of silver.

1885. Egypt adopted a gold standard.

1890. Romania adopted the single gold standard.

1890. United States suspended the coinage of silver dollars and began purchase of bullion.

1891. Gold standard adopted in Tunis.

1892. Austria-Hungary adopted the gold standard.

1893. Mints of India closed to the free coinage of silver.

1893. United States suspended purchase of silver bullion.

1895. Russia decided to coin 100,000,000 gold rubles.

1895. Chile adopted the gold standard.

1895. Costa Rica adopted the gold standard.

1878 1881-1892 — Three international conferences held to try to reestablish the use of silver.

Meantime the United States increased her full legal tender silver 50 fold in the face of a 50 per cent fall in its value, until her credit and financial standing could endure the strain no longer, and she was obliged also, reluctantly, to suspend silver coinage.

What would happen if she were to resume, and open wide the doors of her mints to the discarded silver of the world? It does not require much of a financier to answer that.

Bessemer Herald (Bessemer, Michigan) Oct 3, 1896

Bessemer Herald (Bessemer, Michigan) Nov 7, 1896

Related Posts:

Girding Their Loins for William Jennings Bryan

William McKinley – Our Martyred President

Cashing in on Political Gold:

Bessemer Herald (Bessemer, Michigan) Nov 7, 1896

The Gold Standard

June 5, 2012

Neal O’Hara Says: —

Official Washington concedes that the United States is actually off the gold standard. So all that those soldiers out at Fort Knox, Ky., are guarding is the source of our wedding rings and fillings for our teeth.

Portsmouth Herald (Portsmouth, New Hampshire) Jun 30, 1942


Paging New England By ERB

At present, the treasury, by order of the president — formerly by Federal Reserve system — can expand or limit money endlessly. Quoting a government manual, “Under present law it need only, at the beck of the president, wave a magic wand and money will gush forth. It need only speak and the value of gold, so long the yardstick of all monetary measurement, is altered in the twinkling of any eye.”

For in March 1933 we left the strict gold for gold bullion standard. As it is offense for the private citizen to possess gold coin, none in now minted. Thus, though today, the U.S. government possesses more gold than any other nation ever did, it is not for circulation.

Arbitrary prices were fixed on both gold and silver by the president, and this exchange affects the world. It is a blazing Midas power Americans possess, and a sober Midas responsibility.

Portsmouth Herald (Portsmouth, New Hampshire) Jul 29, 1942

Results of California Gold Production

December 9, 2009

High Lights of History –    By J. Carroll Mansfield

Rapid Development of the Pacific Coast

The Pony Express

Transcontinental Railway - 1869

The Gold Standard

New Castle News (New Castle, Pennsylvania) Jul 29, 1926