The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-12-02
Mr.. Carlisle then turned his attcn-
tion to the fate of silver

ton 10 the IaIe Oh SllVeT-
This does not imply that silver is to have no
place in our monetary system What is to lie
the ultimate fate Of that metal is one Of the
problems which time and events alone c1n
solve but for many years. notwithstanding all
our legislation in its support the fluctuations
In its value have been so rapid and SO great Us
to demonstrate the fact that 1t can not
be safely coined without Limitations into
money OF final redemption at the existing
ratio or at any other ratio that might be
established. 1t is not possible, under cx-
isting circumstances, for any She government
toestabliSh and maintain stable relation be-
tween the two metals, and for this reason
alone, IL there we're no others. we are bound 10
place some reasonable limitations upon the
coinage and use Of silver. How much of 1t can
be safely coined, and upon what conditions II
can be safely used, are questions upon which
after all that can be said on both sides. they
will be finally determined by circumstances
which can not now be fOreseen, and by the nat
ural growth Of our industries and trade.
II is enough to say ut present that we have
already on hand n stock Of silver. coined and
uncUined, sufficient to meet all the probable
requirements OF the country for many years TO
come The mints OF the United States have
coined AS. 332 $50 standard silver dollars, and
we now have IIO co.. 76O fine ounces Of silver
bullion: which: at the ratio 81 10 to L. would
gate Besides this, we have S16.9d7 ,Og In sub
sidiary silver coin, which Is legal tender to
the amount OF $40, and is by Inv redeema6le in
full legal tender money on presentation. Our
total stock Of gold coin and gold bullion Is
s6l9 l61. .9i9.
The i've countries constituting the Latin
monetary union. with a combined population
of more than SOOOD.0O, exclusive OF their
colonial possessions. have 1913, 5,JOO.OU0 in gold.
s7s5 5000 90 OF full legal-tender silver, and s95,-
$4,000 Of subsidiary silver coins; and yet they
found IL necessary several years ago to discOn-
tinue the coinage Of legnEtender silver and en-
ter into an arrangement by which each coun-
try agreed to redeem in gold all its own legal
tender silver coins when presented ty any
other member of the union. Thus gold has
been maize to support limited quantity OF sil-
yer coin ut par in Franco, Belgium, Italy.
Greece and Switzerland, as IL has been re-
luired to do in the United States since 1873
and as it must continue 10 do hereafter. here
and elsewhere unless great change shall oc-
cur in the relative values of the two metals.
Being the greatest slyer-producing country
in the world, and having on band large
amount OF silver coin and bullion, tho United
States can not be otherwise than deeply inter
ested in every measure designed to enhance
its value and increase its use Us money upon
safe and sound basis. but we can not alone
maintain its unlimited coinagc ss full legal
tender in opposition to the policies OF the 9TH
er great nations Of the earth: and the country
is TO lie congratulated upon the fact that we
have at last placed ourselves in position
which enables US to tpreserve our own none
tary system intact and exercise q potent intiu-
ence in any movement that may be hereafter
made for the permanent adjustment OF this
very lmpOrtnnt hlu ulIllsClI QueStioh'
Mr.. Carlisle defended the recent ac-
ton of congress on the silver question
as follows:
II is q great mistake to suppose tha: the sup
porters OF our recent legislation upon this sub
ject was animated by any feeling OF hostility to
the continued used OF silver Us money TO the
largest possible extent consistent with the
stability OF our currency and the preservation
| of the public faith. The wisest and safest
| friends OF that metal are those who have had
| the sagacity TO foresee the inevitable effect Of
| its continuous accumulation in the form of
bullion in the vaults OF the treasury, and the
| courage TO remove from the statute books an
| experimental law which from the time OF its
enactment was q constant menace TO the well
| fare OF the whole country.
| In conclusion. Mr.. President, permit me TO
thank you and the chamber OF commerce OF the
state OF New York for afOrding me this oppor-
| tunity to meet so many OF the leading business
| men OF this great business city. Although
| your organization has been In existence more
| than Is years and has passed through many
trials and vicissitudes. 1t Is but simple justice
/ TO say that its counsel has always been wise
/ and conservative. and its action patriotic and
| beneficial All that Is needed now TO insure
| an early Inauguration OF an era OF great
/ prosperity in such action upon the part
Of this and similar organizations through
out the country as VIII inspire
| among the people. Now that our credit has
| been greatly strengthened and our currency
| made more stable and secure an opportunity
| is afforded those who control our commercial
| and Industrial interests to resume operations
| under more favorable conditions than have
| existed for may years and am sure you will
| cheerfully cooperate In any effort they may
| make in that direction