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What Blaine Said

What Blaine Said image
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"I believe the strnggle now goiug on in this country and in other countries for a single gold standard would, if snccessful, produce disaster in and tbroughont tbe commercial world. The destrnction of silver and establishing gold as a solé unit of value must have a ruinons effect upon all forms of property except thosfl investments ■which yield a fixed return in money. It is impoesible to strike silver out of existence as money without results ■which will prove distressing to niillions and disastrous to tens of thousands. I believe gold aud silver coiu to be the money of the Coustitution ; indeed the money of the American people anterior to the Constitution, vvhioh the great organio law recoguizeá as qnite independeut of its own existeuce. No power was conferred ou Congress to declare either metal should be inoney. CoDgress has iu my judgment no power to demonetize silver any more than to demonetize gold." - James G. Blaine, Febrnary, 1878, and also reiterated by him in the United States Senate in 1880.


Ann Arbor Argus
Old News