The Maryville times. (Maryville, Tenn.) 1884-1944, 1892-01-13

| hidlOgy. IHey are CuHpiOuo, P0i-
ishable. expensive to store or handle,
and suhirct to great fluctuations in
value.
1t would seem as it these self-evi-
dent facts were ii such character as
to deter a2i,nN" of common sense
from the earnest advocacy of such a
scene. There are many, however,
who seem to overlook the fact of the
immense expense of storing, guard
ing, inspecting, handling, and pre-
serving such products, as we'll as the
armies of salaried officials who would
be required for that purpose. They
forget, too, the loss and fluctuation
in value, even if only the most sta
bic and least perishable of such pro-
ducts should be included in the list
Of agricultural securities, such as
corn, wheat, cotton, and the like.
1t would easily double the number
of salaried officials under the govern
mcnt and, by the great number of
contingencies involved, would GER
tainly destroy that confidence on
which alone the debt contracting
power of any currency depends.
1t is more than probable that this,
as we'll as the land scheme, is intend
ed not for actual service but as an
alternative to compel acceptance Of
the free silver coinage scheme which
represents probably the largest CAPT
talistic combination ever banded to-
gethcr to control the legislation of
any country. The threat is, that if
the free coinage Of silver at a rate
Ear in excess Of its eXtrinsc value is
not conceded to the "silver ring" the
land loan scheme or "sub-treasury"
vagary will be adopted in stead.
Considering the ill-succcss which
has hitherto attended such ventures
for the gogernleutal relief Of aApas1-
ticular class Of producers by becom-
ing either the purchaser or agent
for the sale of their products it may
be doubted if those who 'hoated"
this idea had ever any serious notion
OF making it more than a sidc-show
for the free silver coinage movement
Yet it is quite possible that this
very idea may do more to defeat the
the designs ofthe "silver ring" than
anything else. To sixty-two out of
the sixty -four millions of our popu-
lation, speaking broadly, the legisla-
tive declaration that 80 cents worth
of silver shall be equivalent in debt
paying capacity with a hundred
cents worth of gold, means nothing
but absurdity, The ordinary man
of common, every day experience is
able to understand how it is that a
! piece of paper with the nations
! promise to pay on it, should be
worth as much as gold dollar, be-
cause the government has paid all
its promises in gold when the same
was demanded.
So, too, he can understand how g
limited amount of mere paper lega'
tenders may hold their equivalency
at par with gold, because of the gen
eral confidence in two things: First
the amount of such issue is not be-
yond the nations capacity to keep a
par, and second. because Of the gen.
= eral confidence in the adminiStra
: ton officers of the government, tha
they would never permit It's value t.
flag, but would restrict its vulu,n,
whenever it become necessary to 1t
SO, i'll order to avoid the loss of pub
lie confidence. In the one case, the
explicit promise of government, ant
i'll the other, the known limitation
and control of the amount, serves t
; maintain and preserve that public
! confidence which gives a debt-in
curing and credit-sustaining capac
ity to a currency.
When, however, it is proposed t,
put an unlimited amount OF curren
CIV based on the declaration that
coin containing so cents worth O
silver shall be of the same equiva
t Iency as another coin containing 10i
. cents worth of gold, the absurdity i
: so striking that it cannot be con
cealed and despite the pious decla
ration that "In God we Trust"
fails to inspire public confidence.
: This absurdity greatly impairs tn
hope of enhanced prices which is tn