The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1893-10-20
NOT A WAR ON SILVER.

OF eGne silver purchase clause OF the
Sherman law has been on in congress,
there has been an attempt by it's OPP
poRents to make out that it is simply
war on silver and that it means the
destruction Of the silver now in cir
culation. On the part of some this
has been mere bluff used to help
along their schemes bv causing fear
among the people that the destruc-
tion OF a large portion of our circula-
tion is really imminent, and so create,
IL possible, strong sentiment
against repeal. There is another
class, however, which though mis-
taken IN their vie rs of the situation,
honestly believe that repeal means
the destruction of our silver circula-
tion.
The FREE PRESS has been surpris-
ed during the last few weeks at the
position of a few Of the leading Re-
publican country papers of this state,
upon this question and it believes
that while the editors of the same
are sincere in their minds they are
laboring under a mistake, and that
mistake is, that~repeal of the silver
purchase clause is war upon the fur
ther use of silver, and the destruction
of that already in use. If one but
stops to calmly and thoroughly review
the situation, in would seem that he
the case. Ii the Wilson repeal bill
called for the wiping out of the entire
Sherman law, there would be good
ground for the assuming of such a
position, but il does not, 1t simply
calls for the suspension of the pur-
chase of silver. The Sherman law
provides that the government shall
maintain the gold and silver in circu-
lation at parity. In fact it leaves
everything just as it has been for the
last two or three years, except that
it stops the enlarging of our stock of
silver. The Sherman law as it stands
and will stand after repeal has bee n
accomplished, is a complete and full
answer to all assertions that the re-
peal bill now before congress means
the destruction of any part of our
present wolame of money.
But it is asserted that we want more
money and cheaper money. The FREE
PRESS will not deny the statement
that we want more money. 1t believes
that our circulation should increase
according to our needs. But it does
fatty oppose the idea of cheaper
money-mOney that is worth
less than one hundred cents
to the dollar. 1t believes that every
dollar, whether of gold, silver or
paper, should be the equal in value of
every other doll r issued. For this
reason it has favored the suspension
of further purchases of silver until
some international arrangement can
be agreed upon which will bring it
into general use and keep it's value as
stable as possible. The history of the
past few years has shown that this
cannot be done SO long as the United
States will take care of nearly or
quite its own product. 1t is not a
question which this country can set
tile alone, or burden it ought to as
sumo.
1t is argued, however, from the free
coinage of silver standpoint, that a
settlement of the question as pr J.
posed Oy those who are working for
repeal, can never be reached because
gold has, and is still continuing to
in value. The only proof
they give to back up this assertion is
a comparison of the price OF gold with
that OF silver and general prices of
products. Statistics show that there
has been general decline in the
average prices of products since 1873,
as measured with gold, but Mr.. David
A. Wells, who has made an exhaustive
study Of the question says that there
has as yet been 40 satisfactory proof
that this decline is due to
the appreciation of gold, and the rea-
son he gives for this is that it cannot
be done. Now while prices have grad
ually declined, the average of wages
in god during the same period have
gradually increased In other words,
to use phrase Of the free silver advo-
Gates, gold as compared with wages
has depreciated.
The great cry Of those who are clam
oring against The repeal Of the silver
purchase clause, is that it will carry
us to gold standard, and will operate
against the welfare of the laboring
man. But we are now and have been
for the past fifty years practically
upon gold standard, and more than
thirty OF these years have been the
most prosperous the nation ever saw.
and without a parallel in the history
of the world. So everywhere we see
the facts arrayed against the dsser-
lions OF those who would continue the
purchase of depreciated silver. They