The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-11-08
THE FUTURE OF SILVER.

Our contemporary, the New York Post,
has disposed of the silver question. 1t
has arranged for the future on these
lines, beginning with the repeal of the
Sherman law:
Unfortunately this is not the last of
silver in American politics, but the future
controversies over it will be with refer
ence to the disposition Of the stock on
hand. There will be no more contests
over free coinage or over new purchases.
Silver will be no longer a prosecuted sis
ter, but an inconvenient ghost. From
time to time we shall look at our enOr-
nous store of the white metal and won
der how we ever became so bereft of
reason as to buy it. The people
have learned at last that ii is confidence
which makes money plenty and lack of
1t which makes 1T scarce. They have
learned, too, that gold and confidence go
hand in hand the world over. Why it is
so it is needless To inquire. If gold is
universally acceptable and silver not.
that fact is sufficient unto itself. To
argue against it, to fight against it, is
as idle as to combat the public prefer
ence for straight noses over crooked
ones. The next problem in ma
tional finance will be to devise a banking
system which shall gradually supersede
all the government paper afioat and give
a
trade. When silver takes its final exit
this task will not be difficult All classes
will be alike interested in it. Preju-
dices against banks will disappear. These
preiudices were an outgrowth of the in
lation craze
BY the side Of these predictions The
Sentinel places the prediction that the
real struggle for the restoration of silver
as standard money has now fairly
opened. The repeal of the purchase
clause of the Sherman law at last puts
the United States in a position to use
it's influence effectively for international
bimetallism. which is the only possible
solution Of the silver question. II may
! be delayed for short time by the
great power of Mr.. Gladstone i'm Eng
gland as it will be by the fallacious ar
guments of gold monometallists i'm Amer
lea and the prejudice that has been
| created against silver by the stupidity
IT is certain to come. England has stood
for gold recommendation on the theory
that II was a creditor nation and there
fore was benefited by the appreciation Of
gold. 1t is learning rapidly that cred
itors are benefited by the prosperity Of
their debtors The bankruptcy OF Portu-
gal. Greece. Argentine Republic and Aus
tralia did not lnjure those countries
alone. English capital suffered heavily
In each case. Already there Is a marked
change I'm English sentiment Bimetal-
lism Is gaining friends rapidly. En-
glish monometallists now assert that
they do not advocate the gold standard
for the entire world, but only for civil
lied countries.
The world has not forgotten Roth
schld's endeavor to persuade the United
States 90 continue It's absurd purchase
policy, or his solemn warning to the re-
cent Brussels conference:
need hardly remind you that the
| stock OF silver In the world rs estimated
at some thousands OF millions, and II
| this congress were 20 break up without
arriving at any definite result there
would be a depreciation In the value OF
that commodity which II would be fright
| full 90 contemplate and out of which a
monetary panic would ensue the far
spreading effects OF which II would be
impossible 10 tell Proceedings OF Brus-
sells conference, y. 72)
The conference failed TO agree. The
panic came. Australia and the United
States have passed through H. Europe
! is still suffering from II and England