Show THE fOLD THE WAY ONLY ONLY WAY OUT Contrast Contrast C wh what f happened after our Civil War with what is now going on a- a aa a a consequence of the World War Robert Robert E Lee surrendered on April 9 1865 It took the United I States nearl nearly fourteen years to get back jack money money from paper pro pro- promises promises pro promises to pay The same Ulysses S Grant who graciously accepted the surrender of a worth worthy foe at Appo- Appo Appomattox Appomattox mattox Appo-mattox mattox Courthouse was President when whon congress passed the law au authorizing au- au authorizing authorizing the resumption i of I specie payments Yet not until the first of January 1879 1819 was the gold stand stand- standard standard standard ard actually reestablished and for seventeen years yeats more it was the sub sub- subject subject sub subject of a bitter political controversy Hindenburg the first of the century soldiers to be President of his nation surrendered seven and anda a hal half years ago Three days ni- ni niter af after ter tel his election the British Govern Govern- Government Government Government ment felt strong enough to declare its return to the gold standard When the American Congress de- de det de determined t to resume resume specie payments millions of ot Americans believed that the return to hard money meant their ruin Payment in precious me- me metal metal me metal tal was accompanied by falling prices and the advocates of greenbacks were numerous enough to launch a great movement The farmers or of that period were at a disadvantage antage and while money was not the only root of or their troubles the change from paper to gold did their hardships Similarly the change in Great Gret Britain from paper to gold is dreaded Unemployment is all too widespread in the British Isles and man many in- in intelligent intelligent in intelligent men fear that the road back to the gold standard will be marked by more suffering and hardships Hard hard- hardships Hardships ships The Conservative govern govern- government government government ment is taking this possibility into account and is planning to revise its system of national insurance so that the privations of workless me and women may be mitigated Yet when all the poverty of Amer Amer- American American American ican workmen and farmers after the Civil War is fully considered and when the future possible difficulties of Great Britain Britain Britain are ale conceded no other roa road to permanent solvency is isnow isnow now open The gold standard may in the future be superseded by a bet bet- better better bet better ter foundation for for- for money but that time is not yet in sight Paper money leads to bankruptcy such as overtook Germany Russia other other- European countries and our own Confederate erate States During the thelong thelong thelong long years since Kaiser Wilhelm lout lost louthis his throne the British people how how- however however however ever have submitted to taxes heavy beyond all parallel in order that their government might balance the budget and that the finances of the nation might be be- put upon a sound basis The people of England tooka took a long Ion view I while other nations were were shortsighted and British credit was I salved by the willingness of millions to give a quarter half and even more of their incomes to the nation With the British the Empire Empire the do- do dominions do dominions minions followed the mother country nine nine tenths of or the foreign trade of tine world worM is now on the gold basis So far and so qui quickly kly have we travel I ISo el back from the ruin of war |