The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-08-12
CARLISLE ON SILVER.

has addressed to kentucky IFieho tne Iol-
loving letter, making clear his position on
tina silver coinage question:
WASHINGTON. Aug, 4, 1892.
ToEn 4. LIME, Esq, Henderson, KY:
Dv4p SIR-Your favor, in which you ask me
batber have been heretofore in favor of the
80 coinage Of silver aud whether my views
1,ron that subject have undergone any change,
las duly received but have been unable TO
find time to answer until now.
IN NJ answer to your question depends largely
,,,on what YOU mean by the free coinage OF
silver II YOU mean the policy urged by many,
under which the government OF tae Unltea
A. cents worth of silver bullion when presented
nv Inc owner, and coin 1t at the expense or all
me neople OF the country, and compel the
y,a7nie 6y law to receive the coin as ths
aaInivalant Of 100 cents, my answer is that am
~ now and never have been in favor of it.
7 stqnd now where my lamented pre-
decessor, Mr.. Beck, and l stood togetInier IN
TszS when the So called BLAND Allison bill' was
,,ssad nv congress under which the Secretary
IF The Treasury was required to purchase and
C1in monthly not less than 100000 nor more
fEau Al OO0 900 worth OF silver bullion. Nhen
tbat mi passed the House of Representatives it
provided for the free and unlimited coinage OF
The silver dollar but after 1t went to the Senate
Mr.. Beck offered an amendment which pro.
,vided that the Secretary Of the Treasury should
purchase Mt the market price each month not
less than $4,000 600 worth OF silver bullion, or
as much more as could be coined at the mint,
a gaiyQlOTAg0 TO O9 pal0 luDO the treasury, anu
RAJ whenever the bullion could not be pur-
chased at less than par with legal tender notes.
any owner of silver bullion might deposit it for
coinage on the same terms as gold was de-
posted.
After quoting extracts from Mr. Beck's
speeches on this subject Mr.. Carlisle pro-
ceeds:
At the time Mr.. Beck made these remarks sill
yer was only or 10 per cent. below gold, while
now it is about is per cent below gold. and if 1t
was not right aud Just to the people then to do
nate the seiEnorage OF to 10 per cent TO the
combinations of buhonists, IL certainly cannot
be right and just now to donate over four or five
times that much. The free coinage bill OF the
House was amended In the Senate 80 as 10 pro
vide as l have already said, for the purchase
and coinage Of not less than g., 100000 nor
more than "a 000,0 600 worth of silver bullion per
month and after it cane back to the House for
concurrence in that amendment L made a
speech in which, among other things, I said:
"The director of the mint in his last report
states that from January, 1873. when the coin
age Of the subsidiary silver commenced, TO Oct.
l. 1877, there had been purchased 2S,707 1884. 81
fine ounces, or 81, 1881 .73 standard ounces of
silver bullion at the price of S34 972 26, being
an average of 1883 cents per ounce fine and
that this bullion at the image rate of 81 2416S
per standard ounce will produce S39 ,6SS, 68S
Here, then, Is a seigniorage of gain TO the gov
eminent during the period mentioned of Sc, 1885,
71474. Under system of tree coinage this
sum OF more than IS, 500, GU would have gone
directly into the Golfers of the holders and
SPECTATORS in silver bullion, and besides that,
the government would have prepared their coin
for them at an expense of several million dol
lars more. Under the free coinage provisions of
the House bill the foreign holders of the de-
monetized silver of Germany would have the
right to flood our mnts with it, and have it
coined into dollars for their own benefit at the
expense OF our government and people.
The overloaded taxpayers OF this country.
already staggering and sinking under the bur
dens imposed upon them by unwise legislation,
rOv1d hay. haa tod NV In m
a new exaction OF several million dollars annu-
ally, to pay for coming the bullion OF capitalists
at home and abroad. | cannot become the ad.
vOcate of such a system, either as TO gold or
silver, and although my vote was given for the
bill as it passed the House under q suspension
Of the rules, with this feature in 1t did not ap
prove 1t, and then hoped it would be amended
In the Senate.
The minis Of the United States are operated
at the expense Of the whole people, and there
fore they should be operated for the benefit of
the people. II, on account of difference be-
tween the market value of the bullion and the
legal value OF the com, there is a seignorage or
gain in the process Of coming the government
should have the benefit of it; and II, as in the
case of gold at the present time, there Is no diff
ference, the holder OF the bullion who wants 1t
converted into coin, should be required to pay
at least enough to defray the expenses Of the
operation. The great mass of the people
neither own bullion nor metal requiring RECON-
age, so that the provision of the House bill was
not a provision for their benefit. but for che eK-
elusive benefit of a few bullion dealers and
mining companies.
my position upon this subject is briefly this:
am opposed TO free coinage Of either gold or
silver, but in favor of unlimited coinage OF both
metals upon terms OF exact equality. No dis
elimination should be made in favor OF
one metal aud against the other; nor should
any discrimination be made in favor OF the
holders Of either gold or silver bullion and
against the great body of the people VINO own
other kinds OF property. A great government
should treat its citizens alike, and,whenever it
attempts to do otherwise il will engender a
spirit OF discomfort, which, sooner or later,
must disturb the harmony, If not the peace OF
society"
The last paragraph Of this extract shows
precisely what my position then was and al
ways has been upon this subject. believe that
gold and silver bullion should be- treated
exactly alike in the mints of the United States
That Is, that dollars worth of gold should he
coined INTO gold dollar and a dollars worth of
slVer should be coined into a silver dollar, and
u no charge IS made for coming the one, then
no charge should be made for coming the other
IN my opinion the declaration made upon
thls SUBJECT by the Democratic party at its
recent national convention is perfectly sound
~ PrInciple, and enunciates the only true public
pohcy' That declaration is in the following
.anguage, which do not think can be mis-
Understood by any one who reads it,
oECrIoN7. We denounce the republican legis-
lauoh known as the Sherman act Of 1890 as q
c09Wardiy Tnakeshift, fraught with possibilities
o danger in the future, which should mike all
us supporters, as well as its author anxious
tot lls speedy repeal We hold to the use of
uotl gold and silver as the standard money OF
sne country, and to the coinage OF both gold
Gnu SILVER without discrimination agaiust either
ng.al or charge for mintage but the dollar
lulI OF coinage of Ib0th metals must bs OF equal
i i.4C anu eXchanReable value or be ad-
{usteI through International agreement, or
~ such safeguards of legislation as shall insure
vue maintenance of the parity of the two
metals and the equal power Of every dollar at
Oil SIIlles IN the markets and payments of debts;
HHaI we demand that all paper currency shall be
NW9py aU par with and reieemable in such coins
80 mo INSIST upon this policy as especially neces-
INJ lor the protection of the farmers and la
LUX cases. the first and most defenseless
currency"
me gold and silver coins cannot be of equal
,,It'lslG value, as demanded by this resolution
o ono1S t1e metal contained in each of them is of
C tGIaI Nelue while still IN the form of bullion.
yo oiLiase auos nothing whatever 10 the intrinsic
it % me metal, but only ascertains officially
for suI ana II eneSs. puts It in q convenient
e. c. Ao4 circulation and auLhenti:ateS it by the
b',I0 vi the government. The United States
ao CO4ned over $1,000 900 in silver since the
555G,a5e OF the act OF 1873, hut this has not
cort Co., cent 10 the intrinsic value of tue metal
coiro,.-eu IN Them; nor has the purchase and
nori,f5 e 9i It' enormous mass of silver during a
H. VI fourteen years caused any increase in
,re price OF silver bullion On the contrary the
STGr,5 y; slVer bullion in all the markets OF the
co., co.., IN thoSe countries where there is free
clogs' as Wen as in those where the mints are
IN ~, ~ SILVER, IS much lower now than it was
ctacc "hen this government began to pur-
Rpnnnn aI the rate OF 24,000,000 worth pr
sijir Iler gold nor silver coins, except the sub
WI