Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-12-08

!
which Is now mere merchandise Ia ever,
country in the world. For while No
nation or group of nations possessing
8 sufficient stock OF both metal,
now coniOins the two moneys into on,
money by the free coinage OF both metal.
at a uxed ratio into Que common pnrchas
Ing power aud price measurer, as the,
were long conlolntd, silver still has fres
coinage into iull legal tender money In
lndis, Central aud South America; gold
still has free coinage into full.legal ten.
der money In Europe aud here. The en-.
nancemout OF one metal is sometimes
uectitd oy those who overlook their own
share IA the enhancement OF the other
Ia kpgland, official warnings as TO tho
results of any attempt att,dcially TO en-.
nance tho gold price OF sllvern have been
spoken and thought logical, as II some
such impoSsi0itity were ATTEMPTED as
putting up permanently the gold price of
wheat or some other article uf mere mer.
chaudise.
IL was affirmed by Me Gladstone's gov.
ernment IN 1851 that ''it has been tho
policy Of this country 20 emancipato
commercial transactions as far as posi-.
Ole from legal control, aud 10 impose no
unnecessary restrictions upon the Inter
change commodities To Tx the rela.
tive value OF gold and SILVER by law would
be to cnter upon course dir, ctly at
variance with this principle, aud would
be regarded as an arbitrary inter.
ference with natural law not
Justified by any pressing necessity p
Too much honor cannot be rendered TO
the principle, but here 1t Is not fairly In
question. Prior 10 1916, Great Britain
had always fixed the relative value OF
gold and silver by law, and In 1876 en-
tered upon a course IN which, being
Joined In 1873 10y Germany, the outcome
was the subversion of their ancient, liked,
and prevalent relative value la law, which
must be at least as objectionable as fix.
ing 1t auew---a course that meanwhile
continued TO enhance the value OF one OF
The metals IN relation to all commodities,
which must be as 'arhllraryn as inter-
tering with the relative value of the two
metals 70 one another. The "natural
law" should be named and described, II
possible, which underwent no "arOluary
Interference when England made OF
gold alone a lega..tendor metal in 1910,
and OF silver alone as lrgal-tonder metal
in India In 1884, but which would not es.
cape "ar6itrary Interference II now, as
be enhanced In current use and value by
laws OF Great Britain comforting In ac-
cord with other nations upon both metals
when coined the quality OF being legal
tender in payment of debt,
Tm SILVER TROUBLE UNIVERSAL. -RENnt-
by INTERNATIONAL,
That CONSTITUTIONS grow and are not
made" has no better Illustration Ia the
history Of our civilization than thls un.
conscious growth aud uncoutrived ac.
cordauco OF human societies, impur Get
yet euectuai, In the founding, and keep
log fairly stable general legh.tcndor
money II was not born OF philanthropy
nor Graded IN treaties. II Is the growth
OF centuries out Of that increasing com.
merce between all the races OF mankind.
which Ia slowly bu, surely, moro than all
| political clntrlvances, establishing their
union, enlsrgiDg thcir freedom, aud pro.
noting their peace. To this character of
its origin aud growth recur, because II
may justify the opinion which entertain
that ONT agreement To open miuts
would soon vindicatc its own sufllcieucy
and prove to be the interest a every
concurriDg power, as TO abolish under
this head every fear or need OF "entang
| ling alliances" IL was a natural aud
enforced constitution Of The worlds mon
etary system which the unwise laws OF a
few separate nations have sutllced TO dis
locate aud disorder, and which wiser
laws by accOrdaDt nations may nw re-
store. Once restored, the conditions OF
Il subsequent dislocatlon, even II at.
tempted as weapon of deliberate war
against one member Of the group, Will be
found upon reflection almost lncOncGiya.
Bile, and In any event suicidal,
Compliance with the duty imposed by
law upon the head OF this department
would have been defective, It will now be
seen, had | ever regarded tue subject
thus far discussed M one Of sectional or
national limits, or such az usually occupy
the time or tax the energies here devoted
60 the public service. IL IS Of larger
scope. Not by our choosing, nor byany-
bOdy's choosing, 10 is an international
question. Nor can we safely SHUT from
The range OF our scrutiny sud reflection,
besides the policies and Interests OF Tor.
cign states the semi-cyilzed and most
numerous races Of men, whose coniiuu-
ous absorption OF silver for Centuries,
their more recent and inc easing nbsorp-
ton Il gold Of which el25 coo, 900 have
been received aud retained In ludla alone
durlpg scyeG recent years., are factors TO
be duly weighed, aud t1c chances OF
change. IL 10 THE monetary dislocation
Of the world IN which QUE own silver
question IL included as an inscparablo
though fractional part, aud IN which even
our surplus problem ~ deeply eumeshed,
Most watchfIl care aud prudence can
alone safeguard the interests OF our be-
loved land and people,
Careful psrusal Of the instructive de-
bates az the last session Of congress leads
me To review the four policies which then
received marked attention.
First, free coinage Of silver second,
conferences thro, continI cd purchases
Of silyeri fourth, stopping purchases Of
silver.
SHALL THE UNITED STATES GIVE RRHE
COINAGE 10 SILVER nov?
/. The free-siIyer coinage prescription
tor the monetary dislocation satisfies but
one OF the several Indispensable condi.
lions which have set forth above ia full
detail. While II is an Indispensable con
ditiou Of permanent restoration that the
free mlnetlzttion Of silver shall be equally
complete as Of gold, yet were IL now gwen
10 silver In this actual moment OF dlsloca-
tion, the practical result would be 10
withdraw the same from gold. Tina.
would be a change without advantage IN
any respect, and 10 every respect with
la the first place, II would
bring Us 70 the static silver basis. This
has been commended ia some quarters
There 10, however, no such pnollc desire.