The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1891-08-27

| ducer, whose dl2N grains OF silver are
| worth only eighty cents in the market
Of this country and the world, is
| thus enabled to demand that the Govern
mpnt shall take IL at one hundred cents.
Will the Government be as kind as 10
| the producer OF wheat and pay him twen-
| ty cents more per bushel than the market
| price The silver dollar now issued under
| a limited coinage, has eighty cents of Ia.
| trinsic value in IL, 20 accredited the world
over; and the other twenty cents Is legis-
lative will--tne mere breath of Congress.
/ That is: what the dollar lacks Of value to
make IL a perfect dollar Congress supplies
by public declaration, and holds the extra
twenty cents in the treasury for it's protec-
tion. Now II is supposed TO remove the
limit and to make the Government coin
not for account of the treasury, but for the
benefit OF the silver mine owner.
THE SHORT DOLLAR.
It does not take very wise man to see
that IL a dollar worth only eighty cents
intrinSically coined without limit, is made
a legal tender to the amount of its face
value, for the payment of all debts, public
and private, a legal tender in all business
transactions among the people, that II will
become in time the exclusive circulating
medium of the country. Gold, which Is 20
per cent. more valuable on every dollar,
will not be paid out in any transaction in
this country when an eighty cent silver
dollar will answer the purpose. Nor will
the Rreenback be long IN returning to the
treasury for redemption in gold. We shall
do our business, therefore, with short dol.
lars rather than with full dollars, as VIC
are now doing.
The gold dollar will be taken from the
circulating medium of the country and
boarded, and the e feet will be that the
circulating medium will not be increased
but be reduced to the extent of the gold
now circulating, and we will be compelled
to do the business OF the country with
silver dollar exclusively, which Is confess
edly the poorest, instead of doing our
business with gold and silver and paper
money, all equal, and all alike good. The
volume of our money will therefore be
contracted.
THE SILVER QUESTION A BUSINESS ONE.
This question of silver is a business one
in which all the people, whatever may be
their political affiliation, have a deep in
terest. II we could have an international
ratio, which all the leading nations of the |
world would adopt and the true relation |
be fixed between the two metals and |
all agree upon the quantity OF silver |
which should constitute the dollar, then |
silver should be as free and unlimited in
its privileges ofcoining as is gold today.
But that we have not been able to secure, |
and with the free and unlimited coinage /
of silver adopted In the United States at |
the present ratio we would be still further l
from any international agree /
ment. We may never be able to secure II |
II we enter upon the isolated coinage OF L
silver.
The leading nations Of the world would
be glad to put us upon a silver basis.
There Is little doubt that Europe only |
consent to an international
ratio on account of her belief that we will
eventually go to silver. If she believed
otherwise she would not be slow to give |
consent. The nations which are on
silver basis alone are the poorest nations
of the world, and are in constant disturb |
lnce and monetary disorder.
The danger of free and unlimited coin |
lge has been pointed out over and over
IRain by leading statesmen of both politi- |
al parties. The position of leading Re- |
,ublicans upon this question is so we'll
lnown that l need not pause to quote
rom them. Let me call your attention to
What the leaders of ths Democratic par y, |
Who are chief in its counsels. say. No one
las spoken with greater ability on the
Democratic side tran the ex-President of
he United States, Hon. Grover Cleveland.
lis letter written but few months ago,
lken in connection with his former utter
noes upon this subject, show that MOTH
ng could be more disastrous, in his judg !
lent, to the business interests of the
ountry, and to the best welfare OF the | G
eople, than the free and unlimited COIN !
ge of silver. Let me read you:
CLEVELAND SOUNDS THE WARNING. G
Grover Cleveland to General Warner e
To the Hon. A. j. Warner and other | c
lembers of the Forty-eighth Congress: '
entlemen: The letter which have had Q
ne honor 10 receive from you invites, and, 4
ldeed, obliges me to give expression to r
Ome grave public necessities, although in .
dvance of the moment when they would I
ecome the objects of my official care and g
artial responsibility. Your solicitude
nat my judgment shall have been care
Illy and deliberately formed is entirely G
Ist, and l accept the suggestion in the I
anne friendly spirit in which 1t has been y
lade. 1t is also fully justified by the ma
IRE of the financial crisis, which under 9
he operation of the act or Congress of I
ebruary 2S, 1873, is now close at hand. I
'y compliance with the requirements of a
lat law all the vaults of the Federal I
reasury have been and are heaped full of i
liver coins, which are now worth less
nan eighty five per cent of the gold dol /
ar prescribed as the unit of value in Sec. s
on IA, of the act of February ~, 1873, Y
nd which, with the silver certificates rep 7
such coin, are receivable for all I
ublic dues. Being thus receivable while I
lso constantly increasing in quantity at 4
le rate of S2S, ,0C0, 900 year II has followed, 9
ne ecessity, that the flow of gold into the d
'easury has been steadily diminished.
liver and silver certificates have dis
laced, and are now displacing gold, and
le sum of gold in the Federal treasury {
ow available for the pay ment OF the gold 9
bligations of the United States notes :
allied 'greenbacks,' IL not already en- =
reached upon is perilously near such en- I
These are facts which, as
ley do not admit of differences of opin- q
cen forwarded to us in the official reports a
every secretary of the treasury from
'78 until now. They are plainly affirmed ,
the last December report OF the present y
ecretary of the Treasury to the Speaker .
the present House of Representatives. .
hey appear in the official documents of Y
lis Congress and in the records of the
ew York clearing house, of which the =
easury is member, and through which
le bulk OF the receipts and payments of |
10 Federal government and the country
ass.
"These being the facts of our present 2
our danger and our duty to
vert that danger would seem to be plain.
hope that you concur with me and
ith the great majority of our fellow
tizens in deeming II most desirable '
the present juncture to maintain and u
)ntinue in use the mass OF our gold coin
we'll as the mass of silver already Il
ension of the purchase and coinage OF p
liver. am not aware that by any other p
ethod is 1t possible. II is of momentous
nportance TO prevent the two metals
ON parting company; to prevent the in y
easing displacement of gold by the in II
easing coinage of silver; TO prevent the
e disuse of gold in the custom houses of 9
10 United States in the daily business Of p
10 people; TO prevent the ultimate expul- p
on of gold by silver. Such financial p
isis as these events would certainly pre- q
pitate, were IL now to follow upon so q
nR a period of commercial depression, u
ould involve the people of every city and s.
I'd disastrous trouble. The revival of c'
,sinasa a,,.a.n.iaa onJ ,N.os,oa.its, ac a.. | O.