Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1892-01-22
The Free Silver Hcrcsy.
MR.. MORRILL's GREAT SPEECH.


cerpts showing the quality and the leading
points of the great speech against the free
coinage of silver delivered by Hon. Justin
s. Morrill, in the United States Senate.
Jan. 6. 1892;
The Amount of silver in the Government
Vaults.
We have purchased since 1878 silver to
the amount of S37G, 025, S27, and have
coined over 400 0OO,O GOO of silver dollars.
but the amount of silver purchased, at its
present market value, shows that we have
been losing heavily in the silver business.
and have relieved the owners of silver bull
lion from a dead loss, amounting to $50
063,64S, by taking this bullion off their
hands. But free coinage would have in
volvcd a far greater loss, as silver since
1873 has been purchased for S71, o., 800
less than its coming value; otherwise with
free coinage the total loss to the gov
eminent would have been Sos, 0lG, OBS,
and this round sum might have been add
ed to the profits Of the silver corpora
| lions.
No eXpedIents have been unit led. and no
cost withheld, to push or carry silver dol
lars into circulation; but it has been dem
onstrated that no more than about sixty
million dollars of over four hundred mil
lion coined can be coaXed or kicked outside
the treasury. Even had it been possible
to apply hydroStatic pressure no greater
sum could have been forced into the con-
| gested channels of circulation or into the
reluctant pockets of the people. The
weight is objected to as too heavy and the
value too light.
W. hold in, tLa tr.,.,,,,. t,..I.,,. -, i'll.
dollars and silver bullion over twelve thous-
and tons which even burglars have almost
ceased to coyet and only express companies
! appreciate its value when they lug it across
the continent, but which the government
is required to hold and guard night and
day, together with all forthcoming MONTH
ly additions. When and where is this sill
yer deluge TO end? In ten years more, I'M
der existing statutes, the government may
have locked up in its subteranean vaults
silver TO the aggregate amount of, perhaps
more than one thousand million dollars.
for all of which IFS obligations, payable in
coin, will be outstanding. Is this, like the
river of the poet, to run on forever? And
shall this inundation be further aggravated
! by unlimited free coinage?
who Would BE the Gamers and Losers.
,,,I ,,l,,Ii H. 49,. '','9'iO w Oo'i'-
- ,,G1 ,i ,'on,vo' ". i,oiioi'uie oIl 'IlG
49,, - ~ 80 '''%U'oii w d"
- ji'', .iiIl NV H'Ne' P'ol"-
7'',',S'2I "" Nv, '"io ~ u's'uNN' nor even
VIA, ,U'' tI1,. VIZ .'ie "eo.I's IeaiS are
w ' ,1. ',i,s ".e io''u !. "oulu ne u,ScVNer-
su 'n'I .lir Sie"I c"rloIdllohs are the larS
o9'l ".po's VI ."I 'o"i'sil' ne ooi'ueu
..i Vi o,'i I"li'o"u co'-
~ Ciioi MUS anu amounts 10
sD ''','fi,.i-' VI "o0 r, SIN ti'neS lilal Oh
l,',. i',',"t ne l'uepIeoileSs vi
w.; i o"iiNe' io".l anu trusl colpai
~ i a,iu U'l,.' D"ihI " Sle"l ilui'I'uue
i,.'.it".hI NANNY ioI i"ooilous'I ac
~ 80 90 n3 ~ ,ilo amount
". w. 100; -,o'p'' neSt are 'le par'les
w. "nT''i 70 " w oiielc" 'ii' Tie"ler mon
-, ~ l,.' II " SI opilS"tioiis III
-" "lOH SDiH o'"Iu"'"' "lteil ~ tnose
"'iCSo 'uio SUI Pius Is t,iT loiie ueposlt III
,'a.ii an ~ "ti oe oeoIi .'l"' ~ -
',' o'S ,"i sv9 1ne Sre". CoIPoI"tiohS winch
"p nv ,o"P " heiI Iiiey n"N' MOI so"h'
TO-, ~ '.I' 'u"' an i'uo,''s' "neuleI "ork-
m.s ~ uie Jay month, or year pelolS
W .i,e oieo,.oi tlass' Is "lSo
,,.(,'',, ouI NiieIic"n men ana
"NiiiI" "'' ho' Easily h!phoIi|eu' ana
w VI '"''i ""SvS "H'h ItctiNeu "ii" eN-
The siIyer-tongned orator. ,,ror,isa 20
give silver as cheaper money. and in the
next breath promise to bring il I'M 70 the
par of gold Somebody is to be cheated.
Who is it? One promise the othermust
prove false.
The slanderous tales concerning the
amount of mortgage Indebtedness of farm
erS turns out to have been a wicked exar-
geration or big lie based on a little truth.
The major part of such MORTGAGES has
been made with the deliberate foresight of
buying and holding land for its increment
or for its future increase of value: and the
parties, for the most part, will not be disap-
pointed. The old custom of 30 wears ago
among farmers of barter or of a running ac-
count with merchants, PAYABLE at the close
of the year in truck or by promissorv note.
is obsolete, and orwhatever farmers have to
buy or sell payment is now nearly always
made with cash on the spot. A careful in
vestigation would show that there are in
almost every state more farmers having
debts due to them than there are farms en-
numbered by mortgages and there is no
class of our community more industrious
and economical or more obedient to the
gospel OF 81. Paul, "Owe no man any
'"'''S' IMAM 'ii"' Vi 'ile l"riler'
No Lack of Money in Circulation.
With robust audacity and obstinate mis-
information some of the silver organs still
assume that there is a great want of money
in our country, when in truth money here
has never been more abundant nor more in
circulation per capita than at the present
time, and it is also increasing at the rate
of sixty millions annually, having increased