Southern standard. (McMinnville, Tenn.) 1879-current, 1891-03-21
THE SILVER QUESTION.
Two 0pinsons from Two Prominent
Men.

Democrat of last week.
81 send you by this mail some
speeches on the silver question.
Second only to tariff taxation it is the
most important Of economic ques~
tons. Silver and gold have been
recognized as money metals from the
beginning of civilization, and their
production comes nearer keeping
pace with the increase of population
than any other metals.
"To deny to silver free and unlimi-
ted coinage is to degrade it below the
standard of a money metal and to
make gold the only standard or
measure of value, which in effect di-
minishes the volume OF currency
about one-half. You reduce the price
oflabor and all of the products of la
Dor in precisely the same ratio that
you reduce the volume of money.
Capitalists want to reduce the vol
ume of money because it will increase
the value or purchasing power of
their capital. Labor wants to increase
the value or purchasing power of
their capital. Labor wants to in
crease the volume because it increases
the price of labor and product Of la
Dor. Capital buys the best talent of
the country to devise and maintain
policies to promote its interests, by
which means it has absolutely con-
trolled the legislation of this country
for more than quarter Of century.
And as a means Of benefiting itself at
the expense of labor, in 1873 it man.
aged to have silver demonetiZed
which reduced the volume of money
about One,hali.
"At that time silver bullion was
worth in the markets of the world !
per cent more than gold at our ratio
of sixteen for ole. And, singularly
enough, the United States, which
produces about as much silver as AL
the balance of the world, took the
initiative in demonetizing and strik'
ing it down. Degraded below the
dignity of a money metal and becOm
ing ii mere commodity, of course it is
depreciating in price.
"When we proposed to remonetizt
it 1878 and admit it to limited coin
age Of not less than S2,OOO,0O0, mol
more than 100000 a month, W.
were told by the representatives o
capital that silver dollar containing
4l2! grains was worth less than dol
lar, and that it would be a dishones
dollar, and if we remonetized and ad
mitted it even to this limited coinag,
we would reduce this country
to silver standard and drive al
the gold out of the country
We passed the bill, how. ever
and under it have coined some
100000, 900, upon most of which sill
yer certificate were issued. We haC
in 1878 about $23O,OOO,OOO in gold il
this country. Mr.. Sherman, theI
Secretary of the Treasury, issued al
order authorizing the exchange 0
silver certificates for gold, dollar 70
dollar, and in very short time $50,
OOOin gold were brought to the Treas
ury and exchanged for silver certifi
Gates, and Mr.. Sherman suspended
the order.
"And so far from driving the $3.50,
1000 of gold then in the countr.
from it, we have gradually increased
our gold until we have now abOu
$70O,0O0,OOO in gold. But will no
bore you with further details. Ev
cry consideration of propriety, justic
and right demand the free and I'm
limited coinage of silver, and moth
ing but the greed and avarice of tn
capitalistopposes it. Respectfully,
IsHAM G. HARRIS"
Following is the conclusion of Sec
rotary WINDOWS speech, Delivers
in New York on the night of hi
death:
INSUFFICIENT GOLD OR SILVER.
Let me speak very plainly on thi
most important subject. Believin
that there is not enough of eitht
gold or silver in the world to NEE
the necessities of business, / am a
earnest bimetallist, and concede to n
one Il stronger desire than l feel tC
the free and unlimited coinage of 81
yer, AS soon as conditions can /
reached through inter national agree
mpnt or otherwise by which sue
coinage shall be safe.
But it is my firm conviction TIL
for this country to enter upon tn,