The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-11-11
VEST ON SILVER.
The Missouri Senator Interviewed
on Sherman Law Repeal
He Declares That It Means Currency Con
traction, with No Provision Made
for the Demands of Increased
Population.

ST. LOUIS, Nov. 3.-United States Sen
ator George G. Vest, who has just re-
turned from Washington, was inter
viewed on the status of the silver ques.
ton, and in response to seveta1,8444
tons expressed himself as follows: 10
THE effect of the r~epeal~iill E6St
passed is to contract the voiuH4:oftfs<
money of the country to The extenseS]
$40, 900, 900 a year. The pnt66akineeS
$500, 600 ounces of silver per month,eor
81, 600, 600 ounces per yearCtslmeonfin.
ned, and that, of course, puts afrend to
the issue of bullion notes in payment
for the silver
THE population of this country is
increasing, according to the last cen
sus, at the rate of about 3 per cent. per
annum, but this law stops the volume
of money where it is, and no provision
is made for any increase of the volume
in order to meet the demands of an in
creasing population.
France has about one-twelfth of our
territory and about 49, O0, 1000 of people.
France is a finished country with a sta
t~ionary population, but. the per capita
distribution of money there is about
al to each man, woman and child.
The statistician of our treasury depart
ment reports the per capita in this
country at s25. 80, but every intelligent
man knows that this includes the re-
serve gold fund in the treasury and the
419, 600, 900 of silver dollars in the treas
ury. together with the 81, 1000, the $500
and the 800 notes not in general circu-
lation. 1t can be safely said that the
per capita distribution of the United
States is really about s14 instead of
SIS. SO.
CONTRACTION DIsCoURAGEs ENTERPRISE.
THE experience of the world shows
that the contraction of this volume of
money so that it Is not in just proper
ton to the business demands Of the
country always produces business de-
preston. 1t discourages enterprise
and makes men timid and inactive.
] hope that the prophecies of the
friends of unconditional repeal will be
realized. and that we will nave an era
of great prosperity, but if this should
be so the lessons of history will be
overturned.
Another remarkable fact as to the
present situation seems to have been
overlooked. The act of 1878, which
struck the silver dollar from coinage,
is the most odious legislation among
the masses of the people ever placed on
the statute book. When the people be.
came aware that this law had been
passed they elected, in 1878, a con-
gress which enacted the Bland
Allison law over the veto of
President Hayes within five hours
after the veto message had been
sent to the house of representatives.
The unconditional repeal bill just
passed RENTS the people of the United
States to the odious act of 1873, the
Bland-Allison act having been wiped
out of existence by the Sherman act
and the repeal of the latter not having |
the effect of reviving the B~land-Allisen
| do not believe that the people
of the United States will cheerfully ac-
cept the act of 1878, and l have no
1oubt mat in their action at the polls
they will stamp their disapproval upon
he course of congress in passing the
unconditional repeal law.