Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-06-20
SATURDAY. JUNE 20. 1891.
silver and the sub-rreasury in ohie


Silver and the Sub-Treasury in Ohio.
We cannot but feel surprised when we
and intelligent men advocating such a
scheme as the sub-Treasury system which
has been 30 prominently before the coun-
try Cor months past. Neither the Republi-
oan party nor the Democratic party could
afford TO "follow after such strange gods !"
rs are set up for them 10 worship. Neither
of these parties would dare thus 70 Fly IN
the face OF the financial common sense OF
the people. II Is gratifying TO know that
the Republican nominee for Governor Of
Ohio was not afraid TO declare in his
speech accepting the nomination that he
would not countenance the sub-Tressury
scheme. His words were very few. Doubt
less he felt that 10 speak was 10 do what
he must do, whilst TO keep silence would
be 10 afford his opponents en- opportunity
20 charge that his silence gave his consent
70 that monstrous scheme. Here are Mr..
McKnSIRI's words:
alt fthe Government cannot create money
without creating a debt chargeable upon the
people. 1t cannot become tho depository Of the
products Of the people and advance money
thereon, and II It had the power it would be un-
wise and suicidal 70 90 10, and no man who will
seriously reflect viii be Of any other opinion"
That is lust what every sound Democrat
ought to say. No man who will seriously
reflect upon the subject can be of any
other opinion than that the sub-Treasury
scheme is worse than no remedy at all
for the evils under which the people of
this country are. too many of them, suf-
fering.
Upon the silver question Mr.. McKN-
IEY's utterances, like those of Senator
SHERMAN, were such as might be expected
from the leaders of party that always
lerislated in the interest of the moneyed
classes. We quote few short paragraphs
from Mr.. McKISLEY's speech of accept
ance
"It 1.-THE Republican partyl can never consent
20 an irredeemable currency, whether issued by
State or national authority. II will maintain
the public faith and tho public honor and its face
will be set against deDased coin and deprect
atcd currency now as heretofore.
alt is in favor OF gold and silver, and also
paper money based upon coin, all equal and at
equal In law.
at is in favor Of circulating medium large
enough 10 do the vast business Of this country,
but insists that the circulating medium, whether
silver or paper or gold. shall be sound and stable,
secure from discount or depreciation or nuetua-
ton, not only good among ourselves, but
wherever trade extends. This has been and is
now the Republican policy"
These "glittering generalities might
be reafirmed by the Democrats of Ohio If
such utterances had not been resorted to
as a means of refusing 10 commit the
Republicans Of that State to the free coin
age of silver This Is the question before
the people; but the Republicans of Ohio
express no opinion in regard to it. They
are ready TO CRY Good Lord" or Good
Devil" A" debased coin" is the silver
dollar. Equal in fact, and equal in law
are words which carry the hidden meaning
or Inuendo that the silver dollar though
equal in law is not eqal in fact to the gold
dollar. Mr.. MCKINLEY will be made to re-
greet making these utterances. He will
not hear the last of them before the first
Tuesday in November next. His declare
tion in favor of money good wherever
trade extends" is another sly hit at the
silver dollar. We promise Mr.. MCKINLEY
30 much discussion Of these matters before
the people as TO cause him TO wish that
he had never heard of "debased" silver
CONS. He is more unsound than the plat
form upon which he claims to stand.
That platform discredits silver by coming
out in favor Of coming only so much silver
as is produced IN this country. No man
who believes that silver is as much the
worlds money as is gold would ever thus
treat the white metal.
Mr.. SHERMAN rode his old hobby. He
would have silver money, but he wanted
real cart-wheel dollar. He would have
gold and silver weighed, and paid out ac-
cording TO weight His dollar of the
daddies" would change in size and weight
every day if his imprsoticable propositions
were adopted. He said:
THE demand for the free coinage Of silver
without limit u a demand that the people Of the
United States shall pay for silver bullion more
than Its market price; a demand that is not and
ought not 20 be made by the producer Of any
commodity. There is no justice or equity In It.
II granted by the United States alone, IL will
demonetiEe gold and dorange all the business
transactions Of our people. What We ought 10
do, and what We now do under the silver law Of
the last Congress-a conservative Republican
measures 10 buy the entire product OF silver
mined In the United States at its market value,
and. upon the security Of that silver deposited
IN the Treasury, issue Treasury notes 10 the
full amount Of the cost Of the bullion. In this
way we add annually 10 our national currency
circulating notes OF undoubted value, equal 10
gold, 70 an amount equal to or greater than the
Increase Of our population and the increasing
business for our growing country"
Here is a sub-Treasury scheme coming
from Senator SHERMAS, for 10 issue Treasu-
~ notes upon silver bullion is TO reduce
silver bullion to the condition of a mere
commodity. II il would be right thus to
treat one commodity, il would tie right
thus 20 treat all commodities How could
Mr.. SHEKNAS, or any other advocate Of his
ridiculous scheme refuse to support the
sub-Treasury scheme, which proposes to
advance money on other commodities than
EilverS Recollect that to discredit silver
as Mr.. SHKRMks suggests would be to nut
an end TO all hope Of mooetizing that
metal
We trust that the Democrats of Ohio will
advance feariessly to the conflict which
MCKINLEY and sEERMAN pretend TO be
anxious 20 engage in. The worlds money
is In danger. universal currency ia
threatened in the house of it's professed
friends. Silver is in peril. Let the issue
be made and the battle begin as soon as
possible
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