Savannah morning news. [volume] (Savannah) 1868-1887, 1886-02-27
Renresentntire scott's sneech.


Our dispatches state that there is re-
markable demand, particularly from the
South. for the speech OF Representative
Scott, Of Pennsylvania, on the silver ques-
ton. The speech was delivered in the
House on Friday of last week, and, al
though short, has perhaps done more to
give the people a clear idea OF what the
silver question ia than any other speech
/ that has been delivered in either branch
/ Of Congress.
Mr.. Scott IS the author OF bill for the
I settlement of the silver issue. 1t has
been very generally discussed and has
met with great favor. 1t is a bill giving
the people the power to say how much
silver they want coined into dollars. In
brief, Mr.. Sootps bill is this: Stop the
coinage of silver until the amount in the
Treasury does not exceed 800, 900, 900, and
do not permit it to tall below that sum.
If the people want $1O,0O0,O00 a month,
coin it, but If they want only 100000
coin only that sum. Nothing can be
fairer than this. Under this bill II the
people want silver, as the silver men
claim they do, they can get it to any
amount.
Why is It that the silver men object to
this billf Because they either do not be-
lieve that the people know what they
want or they want to force them to take
what they don't want. The silver men,
however, who oppose this bill, can no
longer claim to be bi-metallists. They
must admit that they are silver mono
metallists.
Among the many points which Mr..
Scott makes Ia his speech there are two
which will incite deep interest In the
South. One 10 that when there is two
kinds Of money in circulation, one good
and the other bad, the rich man will al
ways get the good and the poor man the
bad. What he means is this: II the silver
dollar ceases to pass at its face value and
is received for only what it is worth as
bullion-sOmething less than so cents
every wage worker will be paid in that
coin, and, that too, without any increase
in his wages to make up for Its decreased
purchasing power.
The other point is that the South wants
capital to build railroads and develop
age of silver beyond the demands of the
people tend to meet this want? Mr.. Scott
says that 1t will not because no capitalist
will loan money as long as there is grave
danger that if he puts out $4,000 he will
get only $4,000 back. II the coinage of
silver Is continued the silver dollar is liza
BILE to drop to its bullion value at any
time. A capitalist would rather lock his
money IN his safe, or deposit it with a
safe deposit company, than to run the risk
of losing one-fifth OF it almost as soon as
invested. Before capital will flow into
the South there must be confidence in the
currency, and there cannot. be confidence
as long as the uncertainty with respect to
silver com exists.
Mr.. Scott says that the silver men have
made so much capital out of the amount
Of silver that France has IN circulation
that he was led to inquire, so far as
France is concerned, whether silver is
the poor mans money, and he was as
tOnIshed to find that in nineteen leading
trades in France wages is lower by over
- per cent. than in the same trades in
England; and it must be remembered
that the necessaries OF life are no cheap
er in France than they are in England.
II the Southern people will study Mr..
ScOtts speech closely they will wonder
why any Southern Congressman acts in
harmony with the silver men. They will
also see the reason for the existing stag
nation in business.