National Republican., 1888-03-30
rh. silver Question in the Senate.

Tie private consultations In regard to
silver legislation still continue. 1t = under
stood that the caucus of the Republican
senators yesterday morning was held for the
purpose of p0stponing the question until
after the presidential election. 1t is to be
hoped that the Republican party has not
lecomc so tind as to shrink from great ma
tiorgl issues demanding solution. If 1t is
the policy of the party TO contract the vol
ume Of the currency TO the gold standard
aud adhere to a scheme which will newt
ably reduce the volume Of the circulation
while the population is increasing, and the
leaders Of the party believe thatSsuch Il
scheme is best for the country, why not
avow il openly and challenge dcbateY
We are sorry to he forced to admit that
il was Republican legislation that demone-
iizcd silver, and however subservient Presi-
dent Cleveland may be to money changers
the Republican party is responsible for in
auguraing policy which Cleveland has
pursued, and if the Republican party was
wrong il must he brave enough TO acllnowl-
edge il and repeal the obnoxious laws or
meet the consequences, The efforts Of the
metropolitan press TO belitlc the issue, aud
their constant assertions that everything
about silver is already known, and that the
subject is stale, will not bury this great issue
so long as shrinking volume of money is
reducing the price Of property and increas-
ing the burdens of debt.
The people of the east may he kept in
ignorance for time by the silence and mis-
representation of powerful journals of the
commercial metropolis, which live, fatten,
and have their existence in an atmosphere
tainted with bondholders' greed, but sooner
ar later they will learn that contraction
means decay.
The ignorance OF the subject displayed by
Senator Platt, Of Connecticut, in his speech
printed in last Tuesdays RecOrd, is most
suggestive. The senator is one of the most
i.l!c aud industrious members of the Sen
atr lie is, in fact, one OF the most
"Ccur"te men who have appeared in
public life for many years, hut he
"NGctly has given the subject Of silver
10 attention whatever lie contends that
the cause Of the decline In silver is over
production. Senator Teller the next day
quoted the opinions Of large number Of
The mcmhcrs Of the rdva commission of
England 70 investigate the silver question
To .huw that in their opinion the decline
%as the result Of legislation, and not pro-
ductiom. If Senator Plat had been ac-
puaintcd with the subject he would not
have required the opinion Of anybody. lie
would have known. as matter Of course,
that 1t was legislation, and not production.
so long ~, fuurhundrcd and twelve and one
half grains of silver could be exchanged at
Tie mint, for dollar, and twenty-five and
"ight-tculll, grains of gold could he cX-
changed at the same place and for the
SAME amount Of money, -four hundred aud
twelve and unc-half grains of silver was
worth Il, much money as twenty-five and
.ight.tcnIhs grains Of gold, This is plain
and in strict pursuance Of the axiom that
the thing, which are equal 10 the same
hing are equal to each other 1t was sup
posed HAT Senator Platt lived sufficiently
near Yale College To have learned that
axiom. But II seems not --Ut all events, he
was not able to apply it to the silver qtes-
tium, He did not tell us why il was that for
200 years preceding the dcmonctizuton of
silver the value Of given weight Of gold
was worth about fifteen and Onc-hul times
~ much as u like weight Of silver nor
why IL was that a no time during an that
period q pound Of gold could not he ex.
changed Tor sixteen pounds of silver, why
fourteen pounds of silver could not al any
time Ire exchanged for a pound Of gold, aud
why 1t was that the ratio between the Two
metals remained comparatively stationary
al 49, 10 /, II senator Pmtt's theory was
correct the value of the production of the
two metals must have been during all that
period substantially the same. If It turns
out that the facts were otherwise, II will he
in order for Senator Platt to revise his theory
GT revise the facts.
For about 200 years previous to 1850 the