The Forrest City times., 1893-09-22
EASY TO UNDERSTAND.

lieye There are a few leading facts which If borne in mind. will furnish ph teasy Solu-I tion. writet collates these 'fates'tts If6ll6ws:
 Under clause Of the Sherman 'h6t 'and 'the practice of the government. il ihtrs teeh the
 policy of the treasury to keep sll the other
 kinds of money in circulation at lpar with gold, but hol further aecum nlation of gold has been provided by law to dothis work. In July 1895. there were S4l9.000000 of silver dol- lars (mostly fin circulation es'cirtifcdtes). S346- o00,000 of green backs, and about St4o, 600 silverbullion treasury notes--ebout S900, 900 009 in the aggregate-to be kept at par with gold, on the strength of the treasurys dwindng gold reserve. At that time this reserve fund had declined from Sl93, 900 coo in 1888, during Mir. Cieyelend's first term, to less than Sle0,- O00,0O0. This amount of gold has been insuf- ficient to inspire confidence in the govern ment's ability to keep 5000 100000 of green backs and 55-cent silver dollars at par, espec. tally us it has been seen that this enormous burden is being added to under the sherman act by the purchase of N,50Q eco ounces of sil-i yer per month.
 Hence the panic Gold was being exported. What If the Sl00, 100000 of gold reserve were withdrawn from the treasury by holders of iGreenbacks, certificates treasury notes Then the government it was seen would not be able to keep the 55-cent silver dollar at par with gold. There wes good reason to fear this since the excess of gold exports over imports in 1890 900; in 1891 was s12,000 00O; i in 1892. when our exports of crops were unu sually large, S13,000.000. In 1893 gold exports have been on vastly increased scale. To July 1, ls93 S140,000 coo of treasury notes were issued under the Sherman act, but our net ex- ports of gold in the same time were $l41 .000,- coo. The goodness of the silver dollar being dependent on the ability of the treasury to exchange gold for it, the holders of it. inves- tors and others, became alarmed at the pros peot of the treasury losing all it's gold.
 The reason why the silver dollar now buys as much as the gold dollar is clear from the foregoing. Of the silver dollar 65 cents is gold value an6 the rest Is fiat, or mere inn plied promise to pay. So long as the gold're- serve is aiptained at Washington the silver dollar wilEcontinue to be worth 100 cents be- cause the treasury will be able to give in ef- r. feet a tgold'cohars for it. Clear out the gold reserve and the silver dollar will go for only what the silver in iJ is worth-55 cents. Free coinage is folly because it means multiplying light dollars enormously, and so keep green backs at par with gold. With free coinage the silver dollar would speedily lose half it's purchasing power.
 TIE above from the ,Marianna index has been waiting some two or three weeksto find space for its reproduction. TIE TIMES reproduces it so as to give as wide publicity as we can to the opin- ions of one who has become a self-ap- ip0inted censor of our views en the Gnan- 'cial problem, and one who has seen proper to inslnuate that we were who'll ly incapable of inteligently discussing ithe'issues, but who was frank enough to admit that the question was too com ,plicated for him. The article is a fair sample of mucht that IS being said by those who have no opinions and those who are against free coinage.
 Were it not for the fact that the above so forcibly illustrates the fact that our friend Clarke does not even HOWL possess shadow of enlightenment on the subject, we would be rather re- joiced than otherwise that he had ar : rived at the conclusion 'that the mo- ney question is not So difficult of com iprehenslon as many people are led to lpelieve." Bet the article is so supeEbly ridiculous, that but for the hope that Harry may yet "come to-, we would simply reproduce it wlthout comment
 The first and great mistake of the author of the above collation. is, or seems to be, that he belle yes that for every United Statesdollar in circulation there must be GoLDIN THETREAsURY with which to redeem It. Any school boy ought to know that such is not the . case, and that such q condition E both 1impracticable and unnecessary.
 The next delusion seems to be that it requires a gold reserve to keep all of these other kinds of money atpar-- ''S900, ,080, 600 in the aggregate" says ihe, ito be kept at par withgeld. on the strength of the treasury's dwindling gold reserve Oh what rot and non sense. Does the gentleman not know ithat of all this money, all the legal ten fders are receivable for duties onim- ports and all other debts, public and pr- vate and that they eaifbe converted into igold anywhere in the world at their face value? Does Ire not also know, that if sit were necessary the government of