The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-24
Senator aordon,s Latter.


Elsewhere in this issue we publish
letter from senator Gordon, ia which he
gives his reasons for supporting the bill
TO repeal Internationally the sherman
silver law. The reasons are sound ones.
The senator believes as strongly now IN
silver money as he ever did, but he does
not believe anything is 10 be gained for
silver boy insisting upon silver legislation
in connection with the bill for the repeal
of the Sherman silver law. He clearly
sees that il is a very difficult matter TO
agree upon a ratio for the free coinage OF
silver, and that such agreement could be
reached, if reached at all, only after long
discussion
The House would not to agree to free
coinage bill that did not insure parity be
tween gold and silver currency, and the
President would not sign free coinage
silver bill that left the question Of parity
between the two metals in doubt. The
House has voted by an Overwhelming
majority in favor of the unconditional re
peal of the Sherman silver law, and 1t is
not at all likely that it would pass free
silver coinage bill that would be accept
able to the silverites,
Senator Gordon therefore sees that the
difficulties in the way of a free silver
coinage bill are almost insurmountable.
There is another thing that he sees, and
that is that unless the purchase of silver
is stopped the panic that brought ruin to
so many banks and business firms few
weeks ago, and that caused so many mills
to shut down, throwing hundreds of thou
sands of people out Of work, will affiict
the country again. and do far more dam
age than it did in July and August.
He has taken notice of the fact that
the panic caused by the Sherman silver
law, depressed the price of cotton greatly.
While the panic was at its hight and
there were grave doubts whether money
could be obtained to move the cotton
crop, the price of cotton was only lit
tie above cents pound. As soon as the
House voted to repeal the Sherman law
confidence returned and the price of cot
ton advanced to s cents pound. This
advance in the price Of cotton means many
millions of dollars to the south.
Would Senator Gordon be true to his
constituents and the south if he were to
insist upon coupling the free coinage of
silver with the repeal of the Sherman
silver law, knowing as he does that such
a measure would have little or no chance
of becoming a law, and being almost GER
tain that a failure to repeal the Sherman
silver law would cost the south millions
of dollars in the price of cotton2 There
may be few men who have nothing at
stake, and who are are seeking to gain
little notoriety, who condemn him, but
the great mass of thinking and fair
minded men of the south commend him
for pursuing a course dictated by common
sense.
More can be done for silver after the
Sherman silver law is repealed than can
be done for it now. With that law out
of the way the true friends of silver will
act together and do for it whatever it is
possible to do. If silver can be given a
place as a standard money of the country
such place will be given it, 1t cannot
get that kind of place, however, if the
line on which the contest in its behalf is
now being carried on is followed.