Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-08-07
Evening 'si4sn-l,Ai Chronicle
is CENTS PER WEEK.
BRANDON & BARKsDALE, PROPS.


The New Silver Law and it's Purpose.
The Republican platform adopted
at Nashville endorses the Silver bill
recently passed, as measure of
great relief by increasing the circula-
ton. There haSbeen no greater fraud
perpertrated on the country by the
present Congress than this law,
which was passed at the dictation of
the gold bugs. The Republican
party 10 responsible for the contrac-
ton OF the money circulation and the
passage OF this bill under pretenses
OF relief Is an admission that c0ntrac-
ton is the cause of depression
among the agricultural and. laboring
classes. The new Silver bill is not
near so good law as the Bland law
which it repeats, ard therefore the
Democrats oppose it.
The new law simply creates ar
ket for the silver miners by making
the government purchaser of silver
bullion at market prices and of tours ;
fixes the prices. 1t also converts the
treasury into warehouse for the
storage OF bullion on the same prin
clple that the farmers are asking for
warehouses 10 store their grain and
other produces. 1t makes silvera COM
modify and not money, just the
same as wheat, corn, iron, copper or
any other product is a commodity in
trade. 1t requires the Secretary of
the Treasury to issue silver certifi
Gates for the bullion deposited, just
on the same plan that the farmers
ask for trade currency on their pro-
duce in store under the sub-treasury
plan only that the sub-treasury pro-
poses nominal interest tor the use
OF this currency. The government
has just as much right to do one as
the other, and the policy of either is
simply ruinous to the agricultural
interest. The treasurer may initiate
the circulation for the next twelve
months by paying 100 cents on the
dollar for silver bullion and satisfy
the miners. The certificates will go
into circulation at face value as Il
legal tender. But suppose, at the
ut the end of twelve months, or at
any time, the treasurer should see
proper to dispute the value of bullion
with the miners and reduce the price
of silver, would not the certificates
decline in the same proportion? The
fact of their being legal tender
would not force man TO sell his
land, his horse or his wheat for silver
certificates, nor would he do so with
out adding per cent. to the legiti.
mate or gold value. Then the last
resort Of the holder of the certificates
would be to present ut the treasury
for redemption in legal currency.
Here the treasurer has his own dis
erection and may redeem them in de-
preclated bullion at 100 cents on the
dollar. The loss in this transaction
of course will fall upon the innocent
the producing and laboring people,
just like the script usually paid to
miners and furnace men, to be taken
up in goods at the company's store at
high prices.
The silver bill is simply a great
swindle, by which the gold bugs will
add millions to their Golfers in specu-
lation and control OF the money
market.
There is not enough gold in the
country to supply the money de-
mand, and there is but one way to
make silver money, and that is by
free coinage, placing it on parity
with gold, and that no Republican
Congress or administration will ever
do, and therefore free coinage must
be the great and leading issue in the
next presidential campaign.