Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1893-10-28
SILVER cRAzlNEss.


cussion which has enlightened the people
Of this country, in regard to the cur
rency, an editor should be found in
Delaware who does not know that we
have about $65O,0OO, 900 Of silver now.
We propose to keep that
The people have been persuaded to use,
according to the report in 1890, only
500. 1872, 454 But they will be allowed
to have all they are willing to use. It is
fact, however, that they are not any
too willing to use what they have in
circulation They avoid It wherever and
whenever the choice is offered. Yet the
Milford Chronicle SAYS
We doubt not but that Senators Hig-
| gins and Gray and Congressman Causey
are consc ientious in their course, but
Delawareans by large majority favor
the retention of silver as money. To
repeal the Sherman law without further
legislation establishing a status for
silver as money, would be far more in
| furious TO this country than to continue
the law as IL is In the first case de-
probation in silver would bankrupt
the debtor class, while In the latter
only few millions will be annually
tied up in the Treasury, and even this
by legislation could be thrown into
circulation.
We shall take the above propositions
in the order in which they are stated.
This question of currency is not a ques
ton Of conscience with our representa-
tives; it is question of business, Of
finance.
II any law were enacted Establishing
a status for silver as money" except by
agreeing to redeem that silver in some
other commodity, or accept It in payment
Of taxes and custom duties. it would be
of no avail IL would be so much silver
worth so much an ounce.
Any man who has squinted only at the
history of the currency Of the civilized
world ought to know that. The fiasco OF
the Rhode Island land guarantee for paper
currency scheme ought to prove that Ia
any man who has read OF IL. Every man
who writes Of currency, especially of fiat
money, ought TO have read of IT,
As to the confusion of ideas about the
debtor class we quote an admirabl,
statement from the New York Nation. Of
Thursday. which says
The civilized world contains NOR,
creditors than debtors The laborers ar,
All creditors as long as they are laboring.
The class which saves IF its savings are
as they usually are, invested--is ,
creditor class. All persons Twins
on salaries are creditors. All hold
k ers Of stocks, bonds and Other
II securities 6,e creditors The deb
y tors everywhere are small class
Either they are great operators n
stocks, or they are persons strug.
Cling with adversely. and likely soon I,
u go to the wall. II we step into an,
u small town and inquire into tn,
n circumstances of the inhabitants. W,
/ shall find that the debtors are wei
= known, not much trusted, aud sure I,
disappear before long. II IL be said tina
d TINS is not true OF tho farmers. so many
Il OF whom have mortgages on their farms
Is the answer Is that every harvest as Il
comes around makes the farmer ,
' creditor. so that at best his interests an,
sympathes are as much on lone side o
IS the books as the other
II Thus It appears that the Chronicle
ie wrong on every proposition it makes
r 1t starts with the fad or fallaoy tha
IL silver is necessary and builds an argu
VI ment about that chief, and to it, absolut
a proposition. The civilized countries q
Is the world have proved that silver is not
d standard, is not necessary, and that
d ca not be used safely, except as sui
:, sldiary coin.
DC Mexico is proof Of that.
D. France was the last great country I
yield to that fallaoy France was con
PEELED to stop coming silver. Fran,
uses silver now, as we have used
or since 1884 We propose to use it still
Sc Ia fact, we cannot find any other met,
Is to supply its place
~ But its place is secondary In inane
}" as IN commerce It's value cannot Z
N changed by legislative enactment. II
be place in the world Of commerce
ed governed by laws over which Congre,
Tia has little or DO control It's place
finance is due primarily to It's place /
as commerce.