Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-01-17
TUESDAY. JANUARY IL, 1893.
The New Secretary and silver.

The New Secretary and Silver.
The announcement of the fact that Mr.
CLEVELAND has finally determined that he
desires Mr.. CARLISLE to be member OF his
Cabinet. and that Mr.. CARLISLE has con-
sented to take upon himself the duties OF
that important Office, opens up once more
the discussion Of tho question whether
the new Secretary that is 10 be can def
nitalv be- regarded rs a bimetallist or not.
Not that MIR. CARLISLE was selected by Mr..
CLEVELAND solely because of hls opinions
on the silver question. but because IN Sc
leeting his Secretary of the Treasury he
took care 20 secure tho services of man
who is not only distinguished as tarih
reformor bur "a being opposed 10 the en-
actment of any law which would probably
cause the two precious metals 70 part
company" Mr.. CARLISLE IS perhaps the
best-informed man IN the United States on
the various questions which are involved
IN the policy of what is called tariff re-
FORM" The President elect has. however.
no objection 10 constitutional advisers
better posted than himself upon any sub
ject which IS likely to arise in his Cabinet
that il. if advisers of that sort can be found
within the limits of the Democratic party.
In q word, Mr. CLEVELAND would have
Cabinet Of statesmen, not ono OF mere
clerical dummies" IL MIR. CARLISLE Is
more capable than Mr.. CLEVELAND of adj
yancine the cause of tariff reform, and Mr..
TCcKER an ADLER constitutional lawyer
than Mr.. CLEVELAND. tho last-named.
nevertheless, gives lndubitable proof that
he is great man when be tempts comparl-
sons between himself and bis Cabinet
officers. He is q NAPoLEoN selecting his
marshals
Mr.. CARLISLE is bimetallist only in
the sense that he would have silver COINS
as well as gold ones. He ~ follower OF
Mr.. CERNUsCHI in desiring TO have CONS
which can be converted into bullion with
out any loss of value. OF in other words.
can be paid out by weight as well as by
tale. and can stand without loss the ordeals
Of fire and transportation TO foreign coun-
tries And we suppose, therefore. that 1t
may now be set down as certain that tho
next administration will not distinguish
itself as a promoter of bimetallism of
the kind which is involved in the PROPOSE
ton 20 provide by law for the free coinage
Of silver.
Mr.. CARLISLE is not new convert to the
doctrines which he advocates. On the
contrary, if. as "a Chicago paper charges,
he has cast some bad votes upon the
silver question. he has never failed to lay
down monometallistlc propositions IN his
speeches. And nobody has ever presented
what is supposed to be the new adminlstra-
tons creed upon this subject In clearer
language than Mr.. CARLISLE. In speech
in the House of Representatives MIR. CAR
Isle said some years ago that gold and
silver coins cannot DO of equal intrinsic
value unless the metal i'll each of them is
Of equal value while still IN the torn OF
bullion; that coinage adds nothing what
ever 90 the intrinsic value of the coins, az
shown by the fact that the coinage 10y the
United States of $500, 0J0,0OJ of silver dol
lars since 1879 had not added one cent to
the intrinsic value of the metal contained
IN them. nor had the purchase and coming
of this immense sum caused any increase
in the price of silver bullion. This doc
trine may displease good many blmetal-
lists, but that fact will not lower Mr.. CAR
Isle In the new Presidents estimation.
But we must let Mr.. CARLISLE speak for
himself. In speech made in the last
Congress he said
"Neither gold nor silver coins, except the sub
siiiary coins, will ever again enter into very
general uss as currency IN any great CORNER
,ial country. The principal once OF these coins
Is 90 form a basis for the issue OF notes or car
tiecates which constitute The most convenient
form ~ circulation among the people Any
measure which would have tendency 10
broaden this basis OF circulation by increasing
the amount OF metallic money with whlch the
paper can DO redeemed would, in my oplnlOu'
be beneficial not only 10 this country but 10
the world generally; but this cannot DC uohe
by the fabrication Of two coins OF the Same
denomination, but not OF equal intrinsic NaIue'
because both OF tho COINS cannot constitute az
The same time the money Of redemption. Six
ty-eight cents worth of silver aud one d"liars
worth Of gold cannot both be standards OF valus
at the same time aud place, and this has been
fully demonstrated by our own experience
during the last fourteen years for, although
the silver dollar has been ali that time fun
legal tender under the statutes OF the United
states. everybody admits that We are stll ON a
gold basfs and therefore the value OF all the
paper in circulation is measured not by silver,
but by gold"
OF course Mr. CARLISLE is not opposed TO
an international agreement fixing the rela-
tive values of gold and silver.
MIR. CARLISLE says IN the above para
graph that silver certificates constitute the
most convenient form of circulating notes
for the people--a declaration which leads
us TO set down both the new President and
the new Secretary as opponents of the
chartering o. State banks OF issue and of
the standardization cf our currency of
greenbacks, bank notes, and silver certit-
Gates.