Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1893-09-11
Mills
GEN. CIRCUIT ON TEE SILVER
QUESTION.

QUESTION.
| We give below extracts from the
brief but excellent speech Of Gen.
Grout on the silver issue:
Mr.. Grout said I have been repre-
sented by the newspapers, which are
usually correct, but this time in error,
as being opposed to the repeal of the
| Sherman purchase clause, SO called, in
the act of 1890. This feature of that
act, as is well known, was accepted
as a compromise, rather than have
free silver coinage, to which it may
be said to bear something of the same
relation that varioloid does to the
genuine disorder, perhaps not equally
to be dreaded, yet certainly to be
avoided.
The purchase of 4 800, 900 ounces of
silver per month and the issue of
Treasury notes thereon has been
looked upon by conservative men
from the start as an extreme conces
sion to the silver producing interests
of the country, and as carrying to the
extreme limit of safety the silver ele
ment in our monetary system, and
now that business and financial
troubles are upon US, if we would tide
over present difficulties and avoid
general panic, we should see to it, first
of ali, that we keep in circulation a
sound currency. 1t should also be
ample for the business of the country,
and not suddenly contracted; but of
that moment later.
First of all, it should be sound, SO
that no one can have a doubt of the
value of every dollar he may chance
to possess.
Unfortunately for the double stand
ard of the United States the continued
increase production of silver, not only
in this country but throughout the
whole world, amounting in fact to an
immense overproduction everywhere,
has so reduced the market value of
that metal as to follow it out of rela-
ton to gold and make necessary such
readjustment as shall keep the two
metals on a parity. This is certainly
necessary if we are to keep both
along as money metals, and for one [
ana in favor of SO doing. I am, in
other words, bimetallist.
But silver has become so plenty that
a wide difference, now exists between
the bullion value of the gold and sill
yer dollar. ] say in such a time as
this it is doubly important that there
be no doubt as to every dollar of ev-
cry kind kept in circulation by the /
Government as currency; for if any
portion be under value it will surely |
contribute to the general disturbance. /
Now, this is just what the present sill +
yer dollar, which is to day worth less
than go cents, is doing, as is also, to
some extent, the Treasury notes is
sued under the Sherman purchase
clause, though payable in coin, because
Of the liability that they may be paid
in the 60-cent silver dollar, which is
one Of the lawful coins of the United
States.
Now, while believe that our pres
ent financial and business depression
IS principally due to other causes.
which [ can not stop here to discuss.
doubtless this silver business has
something to do with it. At all events.
here is an unsound element in our
which should be displaced.
The Democracy tells us that the
country is on the verge of ruin be-
cause of too much silver, and bring
n bill to repeal the silver law. They
llso, by the same order, authorize an
for the free coinage of
ilver. The complaint is too much sill
7er, and strange to tell, the proposed
,ure is more silver, even free silver
lpon faith in the vain superstition. T
that, "the hair of the dog
will cure the bite.'' In other words
hey prescribe an allopathic dose upon
he homeopathic principle, sin.ilia !
cnrdHtur. Laughter. Now.
lere is strange bundle of contradic-
ions and incompatibilities coming
rom the Democratic caucus at. the I
anne sitting, and this is fair sample
# the financial philosophy generated ,