The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1891-02-19
TAs Lsss Secretary Wtsls. Dc Free
Cstgsr~


10 Lisspsees 81 Mes fssi. issi bsiess
bis destb. Secretary wisdom ,snsrksd
- folIevs regarding the frcs coinage oi
silver.
ilsi me spcsk very rIsisiy GA this most
i'm porsAsi sshlees. Bsl,esins that there
10 rot enough II either soia or silver 10
,hs world 10 meet The pscessisies Of bnsi
nesa. I an - earliest b. neisliis sod COZ.
eees 10 90 ons . sironssf desire thar i
feel lot the FREQ and unlimited coinage OF
River, - soop Es oondisiors csn be resch'
oil ihfoush International agreement az oih
efsise by which soeb eolesgs sLsll be
ssis Bot u !, ny hfn conviction that Tor
this eoaniry 10 snist upoa tbs, sIperi'
meat nov sad uader existing coodrioss
uonld lac ,x.isGsly DISASTROUS. aud that ~
soald rsssit. np, ~ bnne,sllsm, but 10
silver meisllism
saoh an experiment. would. 10 my lnjR
msnt, prove ssresier iissppv,as@-oi 70
ito advocates ihsa 10 say ons Rise. TLry
insist thai II soslj expand The circulation
and permspeniiy enb,nce the value u iii
yer ! believe 10 could produces. s~lii
and severe contraction ard ev.biuslly re-
duoe The msrk~, value OF silver Let me
bri,fs suggest some Of ny fess1ns Tor this
belief.
Free snI nUlimiiel coiuser Of silver by
The U1ited States. shlle the other sres,
nstiops puuue an opposite policy. would
invite all the o~nefs al that metal through
out The world to exchange 37l Ia grains
Of pure silver. sonh abou, SO cents for
1872 grains o! pure gold. worth every
where 100 cenis. N-siiy ali the nations
OF Europe are anxious 10 exchange their
silver Tor gold. aud the, would al once sc
cop. so tempting sp ofT-r
The mint sistiaics q. the trsisury de
pertinent show tbst tie stock OF foil legal
tender silver 10 Europe amounts to 81, 10l
400. 600. and that Of this smount the
banks Of France. Germany, Anstro,Hun
gary. the Netherlands aud Belgium hold
si2s. sec 6G5 A lng. part Of these vast
stocks OF silver you'd BIO ready TO transfer
10 us 81 once, and the swiiiest stesmers
would be employed to deliver il to the
treasury. 10 order that with the proceeds
the owners might buy gold exchange on
Europe before our stock Of gold should
b. exhausted.
Would our own people await the arrival
OF these silver argosies from Europe be
fore &C log? Not unless the Yankee has
lost his quick scent Of danger and forgot
ten Ills cunning. Bank depcsitors. trust
the holders OF United States
notes sud gold certificates would instantly
lock up all The gold at com mand. and then
join the panic INSPIRED procession OF the
treasury. each all anxious to be in time to
grasp the golden piiz- before 1t lie too late
Probably before the swiftest ocean grey
hound could land its silver cargo ct New
York tho Last gold dollar within reach
would be safely hidden away in private
boxes and In the vaults OF cafe deposit
to be brought out only by
high premium for expectation.
This sudden retirement OF $500. 900 ,000of
gold, with the accompanying panic, would !,
,ause contraction and commercial disaster
in human experience. and
'ur country would 1t once step down TO
he silver basis. when there would be no
onger any inducement for coinage, and
liver dollars would sink TO their bullion
'slue.