1900 by Ingersoll Lockwood

Author:Ingersoll Lockwood
Language: eng
Format: epub
Publisher: Dreamscape Media
Published: 2017-08-19T11:35:01+00:00

Chapter 7

THIS first year of the Silver Administration was scarcely rounded up, ere there began to be ugly rumors that the Government was no longer able to hold the white metal at a parity with gold. "It is the work of Wall Street," cried the friends of the President, but wiser heads were shaken in contradiction, for they had watched the sowing of the wind of unreason, and knew only too well that the whirl wind of folly must be reaped in due season.

The country had been literally submerged by a silver flood which had poured its argent waves into every nook and cranny of the Republic, stimulating human endeavor to most unnatural and harmful vigor. Mad speculation stalked over the land. People sold what they should have clung to, and bought what they did not need. Manufacturers heaped up goods for which there was no demand, and farmers ploughed where they had not drained and drained, where they were never fated to plough. The small dealer enlarged his business with more haste than judgment, and the widow drew her mite from the bank of savings to buy land on which she was destined never to set foot. The spirit of greed and gain lodged in every mind, and the "Common People" with a mad-eagerness loosened the strings of their leather purses to cast their hard-earned savings into wild schemes of profit. Every scrap and bit of the white metal that they could lay their hands upon, spoons hallowed by the touch of lips long since closed in death, and cups and tankards from which grand sires had drunken were bundled away to the mints to be coined into "people's dollars."

At the very first rumor of the slipping away of this trusted coin from its parity with gold, there was a fearful awakening, like the start and the gasp of the miser who sees his horded treasure melting away from before his eyes, and he not able to reach out and stay its going.

Protest and expostulation first, then came groans and prayers, from which there was an easy road to curses. The working man threw off his cap and apron to rush upon the public square, and demand his rights. Mobs ran together, processions formed, deputations hurried off to Washington, not on foot like the Coxey Army, but on the swift wings of the Limited Express.

The "common people" were admitted to the bar of the house, their plaints patiently listened to, and reparation promised. Bills for increased revenue were hurridly introduced, and new taxes were loaded upon the broad shoulders of the millionaires of the nation ;—taxes on checks, taxes on certificates of incorporation, taxes on deeds and mortgages, taxes on pleasure yachts, taxes on private parks and plaisances, taxes on wills of all property above $5,000 in value, taxes on all gifts of realty for and in consideration of natural love and affection, taxes on all passage tickets to foreign lands, and double taxes on the estates of all absentees on and after the lapse of six months.

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