The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1886-01-02
The Silver Question.

The leading national question is the con-
tinuation or discrimination of the coinage
of silver. and the discussion is warm and
animated. The question is not one upon
which the people generally are informed,
and some of those who talk glibly or write
learnedly on the subject, don't give any
very clear understanding by which their
conclusions are reached The advocates OF
each make dire predictions as to results, II
their policy is not adopted. Each side
seems to have run to extremes.
The following article from the New York
World will give to our readers concise
statement of the silver question:
The main issue as to the relative or COM
bined merits of silver and gold as media OF
exchange is not the question Immediately be-
fore the people. 1t is whether the Compul-
sorry Coinage law shall be continued under the
present circumstances, or suspended until
permanent definite policy with respect to our
standard of value is duly considered and de-
cided upon Practically we have gold stan,
dard; legally we have double one OF gold
and silver. The law makes a dollar of 4l24
,,rains of silver -tenths fine equal, in q
debt, paying capacity, to a gold dollar OF 20
S.lOth grains nine tenths fine, although the
cold dollar will purchase more than 5l5 grams
of silver bullion of standard hneness. There
is discrepancy of more than 20 per cent
here. and in this difference lies the bone OF
contS..tica.
The supporters of the gold standard claim
that there can be but one standard; that IN
obedience to Gresham law the cheaper metal
will always drive out the dearer, and that the
continued coinage of silver will eventually
drive out the gold and reduce our standard ~
per cent. or more in value, thereby affecting
debts and credits accordingly. They claim
that to permit this TO take place will be un-
wise in an economic sense, and immoral in
that it partakes of reputation; that it will
separate the basis of our financial system from
that of the other civilized commercial nations
of the world. President Cleveland, in his
Message, shows that his sympathies are very
strongly enlisted on this side of the question.
The supporters of the continued coinage
claim that we are silver producing nation
and interested in finding as much use for 1t as
possible; that there will be no repudla-
lion in coming to the silver standard, since,
with the exception of about five years, 1t has
always Deen legal leHueI. lHeJ iah W oSN
flat any disaster will accrue if it is allowed to
prevail, and regard its opponents as in some
way influenced in favor of the rich as against
the poor-the capitalists of the East as against
the agricultural masses of the West and South.
There is middle class who have no par.
ticular learning either way, but join the gold
men in behalf of suspension until clearer
intelligence is reached by the people as to
what had best be done. The silver men, or
bi.metallists of the Cernuschi school, who
hoped to see a common agreement among the
principal nations arrived at, favor at least
temporary suspension as the best means OF
attaining in the end what they desire.
As to the working people: 1t is to their
interest that the purchasing power OF the few
dollars they earn should not be diminished,
as certainly would be the case were the 4l24-
grain dollar to drop from its token to its
bullion value Those who have fixed wages
under contract would suffer to the extent OF
the depreciation, which is now 20 per cent.
Those having small annuities or definite sums
left them by will, or due them in any way,
would also suffer. 1t is very decidedly to the
working mans interest TO have his dollar as
good as possible, and 100 cents worth of gold
makes a better dollar than so cents worth OF
silver 1t is therefore to his interest that the
flood of silver dollars should not b. permitted
to rise any higher and further endanger the
present real standard.