The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1892-04-02

OUTCRY ABOUT SILVER.
Horrible Results Expected
From Free Coinage.
A CONNECTICUr BANKERS VIEWS
He Sees ShiplOads and ShiplOads of
European Silver UnlOaded at
Our Mints-The New York
"Sun's" Reply.
A CONNECTICUr BANKERS VIEWS

To the Editor OF the New York Sun.
NEW HAVEN, Conn, March 22-l
Why are you silent while the country
is on the brink of an awful precipicep
Never since the eve OF the battle of
Gettysburg has our beloved land been
in such deadly peril as it now is. In
all probability the pernicious silver bill
will become law. Even if it should
be temporarily arrested by presiden-
tial veto, it may be passed over the
veto, or some compromise may be ar
ranged which will leave us nearer a
silver basis than we now are.
What free coinage means is as clear
as The noon-day sun. In the first place
there will be an enormous imitation of
the currency. Mine owners can then
take 20 cents worth of silver to the
mints and get dollar for it. AS soon
as these silver dollars are paid out To
the pensioners they will only be worth
70 cents on the dollar. Thus the mine
owners will be enriched at the expense
of the pensioners.
In every quarter of the globe steam
ers will be at once loaded with tons of
silver bullion, and they will all hasten
to be first to get here and receive 100
cents on the dollar for metal which will
be worth only 20 cents as soon as the
government pays it out to the public
creditors. A great fall in the price of
silver bullion will be the consequence
of this unnatural use of silver.
/ These events will alarm the holders
of gold, who will at once ship that
metal out of this country for safety.
This will contract the Currency, and
prices will fall to such an extent
that debtors will be ruined. Gold will
rise to a premium, and this will ruin all
the farmers. They will still find the
prices of their produce measured by the
gold standard, and that, too, at pre-
MUM. Meanwhile the prices of every
thing the farmer has to buy will go up
and his debts will have to be paid il
gold at a premium.
While these disasters are occurring
the inflated and debased currency vii
; force up the price of all the necessarie
of life and the poor city laborers viii
suffer terribly because of being paid il
a deprecated money. At the sam,
time initiation will force the farmers Il
raise the wages of farm laborers, an,
this will have to be paid by selling pro
: duce at low prices.
e The savings bank depositors will b
!, robbed by being paid off in depreclate
Z money, and those to whom their none
is now loaned will be impoverished b
being compelled to pay in gold at
high premium. Both the creditors an,
the debtors will be robbed at once an
d by the same course, to-wit, imitation.
8 Commerce will be paralyzed and OF
J, factories will be closed. The farmer
will he too discouraged to SOW th
spring crops, and famine will 500
come upon us. Trade will stop an
: our streets will be deserted. In shor
business of all kinds will be ruinet
le travel will cease, and bankruptcy owe
vs. take NC all.
e. In view of these imminent changes
beg leave to suggest that there is on
= one way to extricate ourselves from IL
: perils which now surround us. Tn
is to dispel the ignorance which no
hangs like u pail over congress. ]
a this end beg you to use your gre
IN influence to have the house of repr
IN sentatives resolve itself into comni
IN lee of the whole and listen to an a
I'M dress on the evils of silver coina,
~, nm delivered by that profound scholar al
N, I'm eminent political economist, Grov
I'M Cleveland. AN OLD BANKER.