Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1892-10-22
FnE ssLvu.

FREE SILVER.
Vnat Bsas Been Done By tlso Two
Parties for Snver.-Democsatsc
Failure and Republican Success.
For fsw yean prior to tho advsat q
To present administration, tho dsno-
oEn4ie administrztion had been conteut
With denOuneing the coinage act Of
1878, winch Eem0nesized the silver dol
IN, and every report and message winch
rent to congress from the treasury de-
partment and TIE executive mansion
during the administration OF President
Cleveland urged the repeal of that act
and the stoppage of the silver dollar
coinage, while nothing was offered N its
place During the four years that Mr..
Cleveland WIS PRESIDENT with demo-
cratic majority IN the house OF repre-
scntatiyes. ons looks in vain for any
report or anv legislative action by that
body upon the subject OF silver. which
could in any possible manner tend to
Increase the use OF silver money IN the
United States
In striking cortrss. has been the sill
yer policy Of this administration At
the commencement of the FIfty-frst
congress the republican secretary of the
treasury presented measure looking to
the purchase By this government OF the
entire silver product Of the mines and
reduction FORKS OF the United States,
payment to Be made IN legal tender
money. The act then IN existence re-
quired the purchase and Coinage OF two
million dollars worth OF silver a month.
The measure proposed by Secretary
Window left unlimited the quantity Of
silver to be purchased. provided only
that it vas American silver. This vas
by all odds the most liberal Measure
proposed by any administration since
the war IN regard to silver.
In urging its adoption the secretary
said:
.By this method il Is believed that
the way would be paved for the opening
of the mints of the world to the free
coinage of silver. and the restoration of
the former equilibrium of the money
metals The plan which the admins
tration recommended was adopted in a
modified form BY the Fifty-frst con-
gress BY a strict party vote, not one
democrat vote in either branch being
cast in It's favor.
Tbs act, known as the act of July IA,
1890. directed the purchase of four and
one-balf million onnees OF silver .er
month, an amount in excess OF the
product Of our mines at that time. and
the issue of legal tender notes in its
payment. these notes to be redeemed IN
gold or silver coin, at the option Ct the
secretary. with the pledge Of the gov
eminent that these coins should be kept
Of equal value This legislation not
only secured home market tor the En- |
tire silver product Of this country, in
place Of Law which provided a home
market for less than one-haH Of It, but |
at the same time provided for an in
crease Of the circulating medium |
to about fifty million dollars |
a year. The operations Of this law have |
had the effect Of utilizing for currency
purposes all the precious metals pro-
auced IN this country, by the issue of /
notes, based dollar for dollar on the
actnaI value Of silver; and the volume
IF sound currency thus introduced into
he channels of trade has relieved gold
IF large portion Of the work it would
otherwise have been required to per-
iorm. At the same time the purchase
If this increased amount Of silver for
currency purposes has had the effect to
'educe the difference In value between
he two metals, or at least to prevent
NV further decline IN the price Of ST.
Ter.
The total amount Of silver purchased
lnder this administration from March 1.
1889, to June 30, 1892, has been 141.-
go. $50 fine ounces costing $139, 1861
'23, Of which s7,s13,773 ounces have
,een coined into silver dollarA- The
mount Of Few legal tender notes added
o the circulation OF this country by the
of silver bullion under the act
4 1880 has aggregated s109. OO0, 600
The democratic platform OF this year
the repeal of the silver act
Il 1890. Il offers nothing IN its place.
What would be the effect upon the price
# silver and upon the silver mines Of
he west II this plan of the democratic
Arty should be carried mo effect. To-
ny this country is purchasing annually
fifty -four million ounces of silver. about
'ne-third Of the entire silver product Of
he world, purchasing the entire produc.
1 our Own mines and smeiters, which Is
fered for monetary purposes, afording I,
he producers Of silver home market
& the highest market price for their
'roduct II these purchases shcrld
case no ono can predict tho extent Of
be fall which would take pl.ee IN the
rice Of silver. Il would close four-fifths
{ the silver mines of this countu-auf
'ut the very richest
Some Of The results Of republica1 ex-
cutive and Congressional policy in 70
ard to silver, IS compared with the 10 /:
ults OF democratic hostility. a. exhibited
mdef Mr.. Clevelandrs administration,
III appear from the following facts.