The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-08-21

the Radicals committed a great party
blunder in not forcing the financial ques.
ton upon the Democrats, instead of per.
mitting the DenociMs to compel them
to meet issues which they (the Demo.
crats) made on the use of troops at the
polls and the deputy marshals,' super
visors,' test OATH &c, &c. True. the
Republicans were divided on financial
questions az well as the Democrats, but
not 80 much so, and if they had forced
the fight on that issue at the beginning
OF the extra session, and kept it up, the
Democrats of the East and West migh,
have been divided; but they did not do
80, and the opportunity has passed. |
think the differences of opinion among
Democrats, on the silver question (for
that is now about the only financial mat
ter upon which there is p difference of
opinion) is more apparent than real, and
hope and believe that before the Presi-
dental canvass opens all differences will
disappear and the Democrats will be
solid to go into the fight on the consoli-
dation doctrines of the Radicals. 1 do
not understand either wing of the Dem
ocratic party to be opposed to silver nor
to its equalization with gold"
What then ia the point of difference
In the Democratic party on the silver
question 2"
Gas l said awhile ago think the diff
terence Is more apparent than real. No
body objects to silver as currency, and
to its being made equal with gold. but
the question is ho,o this is to be accom-
plished. One set of Democrats, more
notably those who favored the Warner
silver Bill, as it was originally intro
-uced, think that the unlimited free
coinage of silver by the Government is
the best way to bring about the equality
that is to say, if you have $4,000
worth of silver bullion, r-hich is worth in
reality but eighty-five Ct IS III the dollar
OF 4l23 grains, you shall be allowed to
carry the bullion to United States mint
and have 1t coined into standard silver
dollars, so that the moment the Govern.
ment stamp is put upon it that which
was intrinsically worth but eighty five
cents becomes by this artificial appliance
worth one hundred cents. On the other
hand, there are those who think that sill
yer having been fully remonetized and
invested with unlimited legal tender
power, 1t is best to limit its coinage for
the present, at least, and gradually re-
store its equality to gold. They think
that tha two metals if let alone, in their
present relations, will readjust them
selves to each other, and to the business
OF the country with, perhaps, such modi-
hcations as trade and commercial interest
and time will dictate and justify. This
IS the leading difference, only as to the
means to accomplish the same result, and
agree with those who hold the latter
opinions. 1t is very difficult, compli-
Gated subject, one of the most difficult in
governmental science, is this question of
hnance, and very few men in the world
understand it, at least, in the application
OF us principles to government. And
YET you rear men talk about it as glibly
an; ana confidently as if it were as simple as
The Rule of Three I confess, very
frankly, that there are many branches Of
the subject that do not fully comnre-
hend and grasp, but I prefer in this, MS
upon all other questions, to take con
servative position, and in the meantime
give the subject candid consideration and
the exercise of my best judgment"
"In what respect do the advocates of
the unlimited free coinage of silver claim
that it will be beneficial tc the people 9U
"Why, they say it will make money
more abundant, stimulate business. en-
hance prices, employ labor, and in that
way relieve the pressure of the times"
lis it your opinion that it would have
that effect?"
mo, not to any appreciable degree. /
believe that business will revive more
surely, perhaps somewhat more SLOWLY.
and reach normal condition more GER
talnly-that prosperity will be restored
IN all parts of the country upon q more
substantial and healthful and permanent
basis If the finances should be let alone.
(save one change in the system which /
could suggest than by incessant tinker
ing, and the preparation of financial nos
trums at each session of Congress.
Money is the most timid and conserya-
tive of all the elements and instrument
tailties OF business, and requires to be
placed upon firm and certain basis. and
then to discharge its proper functions.
Those who are demanding moro money.
an imitation of the currency by the un-
limited free coinage of silver, the issue Of
more greenbacks and such temporary
make:shifts, will not accomplish what
they desire, until one, and only one, yery
important change shall have been made
in our financial system. In the silver
war both parties are fighting at shadow,
and should be tempted to read the
Comedy of Errors to some of my polit-
ical friends, who have gone daft on the
silver question, if 1 were not afraid of
giving offence"
"What is the change which you would
suggest ?"
"A6oiish the national banks, and yepeal
the ten per cent. tar on the issues of State
banks, and the financial problem will be
solved, in my Judgment"
I'm what way would that benefit the
country 2"
I'm more ways than shall be able to
indicate at present. One thing, l think.
is clearly demonstrable, that the unlim
tied free coinage of silver will benefit no
class of people other than the bullion
spectators. They would make fifteen
cents on the dollar at the present value
OF bullion on every dollar coined. and
men like you and would hive that fif-
teen cenrs to pay, and in an operation of
two or three hundred millions it would
amount to something. Silver bullion
from all parts of the world would flood
the mints. Every government with a
surplus would unload on us, drive ont
gold, derange business, and where would
ii go when coined? Into yours and nv
pockets? Not at all, but into national
banks in the commercial centres. And
how are we to get 1t out? No easier
.hsa wo ca;; ac% sc. money, and 10 more
readily If there were two thousand mil
lions of silver coined in the next six
months. Abolish the national banks, SO
that money can be more properly dis
tributed for the benefit Of the whole peo-
pie, and then the loosening of the flood
gates of silver coin would not do so much
damage. But turning in an increased