Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09

would be freely and unhesitatingly used has
done much 10 produce and sustain the present
favorable business conditions
THE QUESTION OF FREE COINAGE.
am still Of the opinion that the free coinage
OF silver under existing conditions would dis
astrously affect our business interests at home
and abroad. We could not hope to maintain
an equality in the purchasing power of the gold
and silver dollar in our home markets, and in
foreign trade the stamp gives no added value to
the bullion contained in coins. The producers
Of the country. it's farmers and laborers. have
tine highest interest that every dollar. paper or
coin. issued by the Government shall be as
good any other. II there is one less valu-
able than another its sure and constant erranti
will be to pay them for their toi! ard for their
crops. The money-lender will protect himself
by stlpulating for payment i'll gold, but the
iaborer has never been able to do that. To
place business upon silver basis would mean
a sudden and severe contraction of the cur
rency, by the withdrawal OF gold and gold
notes, and such an unsettling of all values as
would produce commercial panic. cannot
believe that people so strong and prosperous
as ours will promote such policy.
The producers of silver are entitled to- lust
consideration, but they should not forget that
the Government is now buying and putting out
OF the market what is the equivalent of the en-
tire product of our silver mines. This is more
IMAM tney themselves thOGSht OF asking two
years ago. believe it is the earnest desire of
a great majority of the people, as it is mine,
that a fui! coin use shall be made Of silver lust
as soon as the corporation of other nations
can be secured and a ratio fixed that will give
circulation equally to gold aud silver. The
business OF the world requires the use Of both
metals; but do not see any prospect of gain,
but much of loss, by giving up the present sys-
tom. In which full use is made OF gold and a
large use of silver, for one in which silver alone
Will circulate. Such an event would be at
once fatal to the further progress of the silver
movement. Bimetallism is the desired end.
ana the true friends OF silver will be careful not
to overrun the goal and bring in silver mono
metaiiisp, with its necessary attendants, the
loss OF our gold to Europe and the relief of the
pressure here fo- larger currency. ! have
endeavored by the use of official and unofficial
agencies to keep q close observation Of the
state Of public sentiment in Europe upon this
question, and have not found it to be such as
to justify me in proposing an international
conference. There is, however, am sure, a
growing sentiment in Europe in favor OF q
larger use OF silver. and know OF no more
efiectuai way OF promoting this sentiment than
by accommodating gold here. A scarcity of gold
In the European reserves Will be the most per-
suasive argument for the use of silver.
The exports OF gold to Europe, which began
in February last and continued until the close
OF July, aggregated over $40, OOO, COO. The net
loss OF gold during the fiscal year was nearly
S6S, 000,DV0 That no serious monetary dis
turbsnce resulted was most gratifying, and
gave to Europe fresh evidence Of the strength