The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1893-10-19
WASHINGTON LETTER.

ana DlSregafOeQ by PreSl-
dent Cleveland and His
.t--".~ Cabinet.
Home Rule Plank of the Demo-
cratic Platform Exemplified
in the appointment Of
Indian Agents.
From the Unions Special Correspondent.
WARRINGTON, Oct. Is, 1898.
There seems to be a great deal
of misunderstanding about the sill
yer question, and it seems to be
the impression in some quarters
that because man is in favor of
the repeal of the purchasing
clause of the Sherman law that he
must naturally be against silver.
I was talking with Senator Wash
burn about this the other day and
he SAID that some of his friends in
Minnesota sometimes asked him
why he was against silver. Now,
as matter of fact neither Senator
Washburn and number of other
senators who are in favor of the
repeal are against silver. II want
to have used in the currency of the.
country all the silver that we can
maintain at parity" said Senator
Washburn, while talking on this
subject. 'EThe trouble seems to
be with so many people that they
want to 90 to a silver basis.
Nearly all the southern men who
are in favor of free coinage of sill
yer are silver monometallists.
They want this country to 90 to
a silver basis because they believe
money will be cheaper. The men
from the silver states are for the
present Sherman law or for free
coinage because it furnishes a mar
ket for their mine products. It
has now become a question Of how
much silver we can carry. At
present we have more silver
money than gold money,
and with the continued
purchases of silver we would soon
find ourselves on silver basis and
gold at a premium. AS soon as
that time is reached the gold would
90 out of circulation and the cir
culating medium would be cur
tailed just that much. It is
plainly apparent that we cannot
60 on as we have been doing. We
must call a halt and take a fresh
start. First repeal the Sherman
law and then find out what is
needed. We could probably
carry more silver money if it was
known that we would stop at a
certain point, but as long as
European nations fear that we will
continue to initiate our currency
with silver without limit, with the
idea they have Of the productive
ness of our mines, so long will
they be suspicious of our none
tary system and seek gold bearing
investments, and SO far as possible
prevent their money from coming
here and return our securities and
demand payment for them while
every dollar is worth dollar in
gold. AS soon as it is determined
just how much silver we can carry
and when precautions are taken to
see that there is a gold reserve
then we can talk about increasing
silver coinage
Another thing which Senator
Washburn and nearly every man
who is now classed as an anti-sil-
yer man believes is that the surest
way to free bimetallic coinage is by
an international agreement. If
this country should stop buying
silver, and go into the market Of
the world with bonds and announce
that Uncle Sam intended to have
his share Of the gold, the prob
abilities are that European nations
would soon be brought to terms
on silver. agreement. At pres
ent we buy four and one-half mil
lion ounces of silver every month
paying for it in treasury notes;
these notes are redeemed in gold.
It amounts to this: We pay cold
for the amount Of silver bullion
which is stacked up in the treasury
Of no use to any one, although It
is claimed to be security for the
treasury notes, notes which will
j secure GOLD coin. md who IL GO.