power of the dollar, in the hands of the farmer and
laborer, by the free coinage of silver and the demonetization of
gold. Silver and gold should be used and maintained as current
money, but only on a par with each other, and this can only be done
by treating the cheaper metal as subsidiary and coining it only as
demanded for the use of the people.
"The seventh 'financial conspiracy' is the pride and boast of the
government of the United States, the restoration of our notes, long
after the war was over, to the standard of coin; in other words,
the resumption of specie payments. This measure, which met the
violent opposition of such wild theorists as Mrs. Emery, has
demonstrated its success, in the judgment of all intelligent people,
not only in the United States, but in all the countries of the
world. There is no standard for paper money, except coin. The
United States postponed too long the restoration of its notes to
coin standards. Since it had the courage to do this under the
resumption act, on the 1st day of January, 1879, we have had in
the United States a standard of gold with coins of silver, nickel
and copper, maintained at that standard by the fiat of the government,
and paper money in various forms, as United States notes, national
bank notes, gold certificates, silver certificates, and treasury
notes, all at par with gold.
"To call this a 'conspiracy' or an 'infamous plot' is a misnomer
of terms which will not deceive any intelligent man, but it is
rather the glory and pride of the people of the United States that
it not only has been able, in the past thirty years, to put down
a great rebellion and to abolish slavery, but to advance the credit
of the United States to the highest rank among nations, to largely
increase the currency of the country, to add enormously to our
productive interests, and to develop the resources of the mine,
the field, and the workshop, to a degree unexampled in the history
of nations. Intelligent people, who reason and observe, will not
be deceived or misled by the wild fanaticism and the gloomy prophecies
of Mrs. Emery. Temporary conditions growing out of the failure of
any portion of our crops will not discourage them; the exaggerations
of the morbid fancy will not mislead them.
"A candid examination of the great financial measures of the last
thirty years will lead people to name what Mrs. Emery calls 'the
seven financial conspiracies' as the seven great, wise and
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