Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1893-07-13

In Undertaking fa lax TO you
upon the silver quest 4 am aware
that | run the risk having se-
lected subject ~ which 50
much has been write nd spoken
that many Of you M @ell believe
that nothing more ;uterest or
pertinency remains ID t1d ebout
it. More especialln the
case in . cons9 r.,
many or whom Il = - h
r ~ra t's.n- e
and have settled convictions which
cannot be easily changed---if the
arguments advanced are opposed to
these convictions-and il In agree
ment Herewith naturally consider
the time and labor wasted. | be-
lieve, however, there are some fea-
lures in the case which have not
been presented or a. definitely con-
sidered as they should be, and the
influence upon our currency. which
silver now possesses, and the posi-
ton it may hereafter maintain in
our currency system, is undoubted-
ly the most anxious and important
question now agitating the public
mind. 1t should, | think, be con-
stantly discussed among ourselves
with the hope that sound and
united opinion may be obtained
among those who should be the
best qualified to influence public
opinion upon the subject.
Change Of Opinion admissible.
And yet it is a subject upon which
radical changes of opinion are JUS
tifiable, and are constantly occur
ring in individual cases and with
large bodies of men. The recent
Secretary of Treasury Hon. Charles
Ii. Foster, who displayed in that
position such excellent manage
ment and sound views, in one of
his public addresses refers to his
first silver speech when in Congress.
He searched the Libraries, exhaust
ed all the means for information
at his command and was prepared
to defend his opinion against the
world. by the time, however, an
opportunity was presented for its
delivery he concluded to sidetrack
that speech and congratulated him
self ever afterwards that his politi-
cal adversaries never possessed the
use of this weapon against the posi-
ton he subsequently, maintained.
One thing is surely certain-all in
telligent and close consideration
must result in single cenclusion
upon the main subject, however
much minor differences may exist.
Serious consequences may follow
disagreements among bankers upon
this subject. A prominent New
York bank president is, / believe,
practically responsible for the sill
yer act of 1890. This gentleman
for number of years pressed his
peculiar views upon every occasion
at conventions, BY pamphlets, in
the newspapers, and everywhere a
hearing could be obtained. lie
firmly believed that an increased
purchase of silver by the United
States would raise the value of sill
yer to that of gold at The present
standard, and he figured ont the
exact amount required. In all his
great city no other bank president
or financier of any standing could
be found to agree with him. But
his views were accepted By Congress
in preference to those OF the then
secretary, Window, aud Of almost
all other bankers, and hence the
act of Congress known as the .Sher-
man BILL but which Dir. Sherman
at no time favored.
Cause Of Gold Experts.
We are to-day confronted with a
condition which cannot be disputed.
Capital in the form Of gold is be-
ing withdrawn from our financial
world. The gold movement is
merely an expression Of the condi-
ton. The matter OF gold exports
is not of itself an alarming occur
rence-on the contrary, It may well
be deemed an evidence Of prosperi-
ty when the gold il given in ex-
change for commodities of more
value than money and in the ordi-
nary course of commerce ii should
at times be expected-whether .
gain or loss-but If the withdrawal
is capital. alarmed By doubts of our
solyency or aistrust Of our methods,
an entirely different question il pre-