Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1886-02-25


Union and furnished her quota Of men
TO the Federal government.
THE SILVER IssuE.-We think the
reply Of Gov. Brown, Of Georgia, to
the Petition Of his Savannah constitu-
ents who ask for the repeal of the
law requiring the Secretary of the
Treasury to coin not less than $1,000
900 per month of standard silver dol
lars is entitled TO be voted q settler.
The law, the petitioners 60 on to
say, "has been in operation over seven
years, and experience has shown that
not only has it failed in every promise
prophesied by its projectors, but it has
proven to be a great inconvenience to
the people detrimental to mercantile,
manufacturing and legitimate banking
interest; dangerous to the credit and
welfare Of the Government. and at this
time is retarding the increase of pros
reritv and menacinR the finances OF
the country" To this arraignment
the Governor puts in the following
response:
Experience has not shown that
the law has failed in every promise
prophesied by its projectors. On the
contrary, the prophecies Of its pro.
jectors have been fulfilled almost to
the very letter.
The law has not proven an incon.
venience 70 the people. but it has been
great convenience, as it has added
to the material prosperity Of the coun-
try by keeping in circulation and in
the Treasury large amount Of coin
that would not otherwise have been
in circulation at Q time when the vol.
ume Of currency was already too small.
The law has not proved detrimen-
tai to the mercantile, manufacturing,
and legitimate banking interests Of
the country. On the other hand, it
has greatly promoted the mercantile
and manufacturing interests of the
country, and it has in no way rstard
ed the banking interests. They may
sometimes have been put to little
Inconvenience 10 handling silver mon.
ey on account OF its bulk. but they
have in no other way sustained any
material losses On account Of the law,
while most Of them have thrown all
their weight against its success and
done all in their power to discredit
silver. The Jaw is not dangerous to
the credit and welfare Of the Govern
ment. On the other hand, without
its passage the Government could not
have resumed specie payments in 1899.
and continued il up to the present,
and the law 10 not at this time rstard.
Ing the increase OF prosperity. o.
the other hand. It 10 greatly promot.
ing the prosperity of the country.
When the crash Of 1873 came upon
the country We did not have the large
amount Of gold and silver coin to fall
back upoa which We had at the time
Of the crash Of 1854, aud it took about
SIX years 70 recover from the shook of
1878 to the mercantile, manufacturing,
and ether important interests Of the
country. When the crash Of 1884
came on We had nearly two hundred
millions Of silver dollars in the Treas.
ury and IN circulation, adding that
much to the volume Of currency and
aiding to maintain = specie standard.
The result has been that in about two
instead OF about ak years the country
Is fast recovering from the crash, and
prosperity 10 already on the increase.
In word, We are recovering from q
financial crash much more RAPIDLY
than we did from the one Of ts78
when silver was dsmonsti.ed.
Finally. the law 10 not menacins the
business Of the country. % the other
hand. It 10 increasing our prosperity,
multiplying our business, and result.
ing in great good 70 the whole com.
munisy. So far from the prophecies
made By the advocates Of ths Law
havin9proved untrue, the very reverse
10 correct: while the prophecies made
BY the epponsnts Of the law aud the
advocates Of ito repeal have from srss
90 last proven nntrus, and their IRE.
Sisssns have been utter failures.
Tasy prsaiessa innsa;assly aitsr .hs
passage Of the bill that II Il wa cen.
sinusd ID operation, even for q sher.
time, 10 would drive the gold cut Of
the country and reduce u to a silver
standard. That has been reiterated
by every Secretary Of the Treasury
from 1858. the passage Of the act, 70
the Pssssas aSss. Ems tts rsvpasoy