The Caucasian. (Clinton, N.C.) 188?-1913, 1892-09-15
THE SILVER QUESTION.
tSpyS,ial Correspondent )

ANl~~N'-A NNthNefeAt@Atsf
Mr.. Editor: Whenever AMI whor.
ever the creditor class has hessn ahlc
It has tamper,sd with :ho measures
oT the peoples pFodunc-tha, ,s, tAui-
perei ~i,h the currency. For ghn
past twenty yeSrs the degradation
Of silver has been the pet object &c
this class all over the civilized
world. The purpose Of attcmp.g "a
II patent. Tho people
have promised TO meet their otliZa-
lions In dollars. Ir bctw sau thr
time Of PROMISE anl the tame OF
payment, the value OF the dollar -
Increased, They lose the dlF,erruye.
This Increase of the value OF thc
dollar il effected by diminishing the
number Of dollars In circulation.
This dtmanution Of tho number ST
dollars In circulation Is effected hy
q total characterization, always .r
possible, (2l by partial dcmouviiE4
lion and legislative Discrimination
against and degradation OF silver.
This legislative Discrimination tends
To destroy the parity of the tWn
what Is called cuisine lricru,t~"
rise ur and Join hands with the Gaps.
talists in demanding a "siugls staut
atd'-gold. Thi- /, tbs lt-t act uf
the game OF contraction of coin .,r.
cuiation. The fractional silver erg-
rency coined I'm the United Sglr.-
siuce l193 is l9j uiliinu-. .. Wl..n
something like 100 millions l.r .,
the gold-buS admit :. Mil4oW-l
IL sti in circulation. The face value
OF every dollars worth Of this lr,g-
tional currency coined since i~sB
contains 3s grains les, silver than
the silver dollar. Silver was very
scarce in this country when this law
was enacted. Its production was
only 100000 year. But now s!lDr
silver has bncome Cheap has the
gold-bug been heard TO ask that 8~
grains BE- added TO a dollars worth
Of this subsidiary silver coin to make
IL even 18th Ihe silver dollar = Not
a bit Of it? The effect ut this would
be 10 increase the market price uf
silver and tend Ia defeat his -cnomc
OF degradation and eventual dr
monetiZation. In the same way a.
silver is too cheap the ggid-bus
ought 10 ask that five Ccuts hc pnl
into the present nickel picco which
intrinsically is hardly worth any
thing.
II the supply Of silver were sud
denly and permanently cut oil, the
cry against IL would cease. 1t would
no longer be "cheap money" il
would be scarce enough TO make II
profitable 10 hoard ii as gold il now
boarded. The spectators in money
and all jugglcrs iii values could join
hands and make this money tight
any time they wished. 1t Is most
profitable to the jugglers in the cot.
ION crop TO make money tight whcu
the cotton crup il to he moved.
If the qu unity Of gold We're great
~ increased and those interested ia
limiting Its volume should be con.
WINGED that its production must
henceforward be far cheaper and
easier, they would seek as they one,
D did seek TO denoretize gol I. tn,
) reason is obvious. They have go
the gold anything which supple
: the demand for IL cheapehs II.
u value, and by SO much make then
y poorer. They are spectators IL
} money as well "a in farm proiuct-
e When they have made "A "corncr'
l. on the money market, they IRht tn
y introduction Of more money just "A
= Armour fights the introduction o
l. more lard to break his corner o'
t lard. Whenever the supply q
ii money Is limited and It's volum
o fixed so that il may be known an
|r may not be easily or specdiI
'e changed, combination of moncye
'e men can make IA corner on II 2
al easily as they can on wheat, corn q
81 lard. Of course they object 10 ia
l. free coinage Of silver. We prOduc
D IIS million dollars worth OF -iiyC
Ia "A year in the United States, aud
only this were all coined it wOul
add about "a million dollars a va
10 to our existing circulation S'wfT'rr'' =
small present annual increase
about Il mitii0ns per year, and Il
money corner would be harder N
e. harder TO make every year. Wi
sufficient silver and gold as the ba-
=, Tor a still more flexible currenc
2. another corner in money would
AZ an impossibility. With Unit
- States credit as basis for fleXit
D, currency, such corner would lik
Il wise be impossible--certainly
n. long as such credit was good. Wi
as farm products as the basis for su
of a currency, no corner could be mad
e. The spectators in money und,
n. stand this perfectly ; and they flg
TO all three of these schemes wi
he equal zeal. Jay Gould is report
bv to have gone to certain banks IN NJ
ed York some time ago 10 borrow
20 million dollars. "What slcuri
ba have you got for so much money
,w they asked, "the best in the world
,as replied Gould, 'just lock it up
X. your vaults and I'll pay the inter'
At. on it. They did IL, and Jay becaI
X. a stock-buyer on a contracted mon
at market, reduced In volume teI
We porariIy. He bought till he {
he enough, aud then he quit paying
ir terest and the IS millions w
m turned loose. He began to sell th
he in a loose money market. Or
nd Gould and the devil who helped
me the job and One who will some d
rn- Judge him for it, knew how mu
IN he made.
inn Money is II per cent. interest n
tie. In New York on good security.
the year or two ago during one OF tn
ost CORNERS IL eouid no. NC iiad at
it per Geht'-"' Dc reeie III ros'
sive Farmer.
kst
eo-