The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-09-02

auyurai address in March last. criticised the
Sherman law, nor made any allusion to it
whstever. although II was then already threat
ening the prosperity Of the country with the
dangerous results Of Its ope-ation. which were
apparent to everyone who had given the sub
iect any careful attention
Mr.. Hill then gave his personal record
on the silver question, and then dis
cussed England's opposition to a single
standard, and continues as follows:
would myself accept the idea that the An
glo- Indian ukase is merely monumental British
stupidity, IL 1t were the first act In the none
tary drama instead OF fourth.
Great Britain defeated the renewal OF the
parity of gold and silver at the monetary con-
ference OF 1s7a
Great Britain defeated tbs renewal of tho
parity Of gold and silver at tbs monetary con-
ference OF 1881.
Great-Britain defeated the renewal OF the
parity Of gold All silver at the Brussels none
tary conference OF ise5.
Great Britain noW. in isso, Is combining her
Allan with European power to prevent renewal
Of the parity OF gold and silver ty the United
States and France or other foreign powers at
any future time. To create the huyest mass of
inconvertible money ever known while posing
as money purists may look like pious i'm
becility, worthy OF o Pharisee in Bedlam- But
on review OF the successive acts Of the none
tary drama, a statesman OF sense will doubt
not through the stages IN increasing purpose
runs" Iadmit, for I affirm. that the British
new-fangled theory OF gold recommendation Is
an ignorant, insular. weak minded theory. like
their theory OF taxation without representa-
tion before i716; like their theory OF impress
ments for the British navy from American
ships before 1872: like their theory Of irrcspon-
si5le naval Intervention to assist the disunion
OF these states tefOre the Alabama arbitration
of 1871.
II will he observed from what has already
been stated that the permanent remedy for
our financial difficulties is a return to tinetal-
ism which existed prior ID 1873. IT HAS been
stated otter and over again during the present
del ate. especially In the other house. that the
country has tried the experiment OF silver
coinage and that il has proved Q failure. and
that therefore we should now return to u gold
standard.
Why not try the only remedy that has not
been applied: This great and growing country
OF ours needs a much larger circulation per
capita than any other country in the world.
II will not answer to comp1re the needs OF our
nation in this regard with the old unproSress-
i've, finished nations Of Europe. where the
wealth is largely controlled ~ a few families.
The insum iency OF our present volume OF
currency seems TO he everywhere conceded and
yet there is an unaccountItlc reluctance to es-
tablish a permanent silver system under whi:h
the deficiency can be easily supplied.
The proposition now hcforc con-rcss to al
low the national banks TO Increase tn sir Circu-
lation ID per cclt-and which proposition l
earnestly favor-iS the outcome Of a general
desire for an increase OF the currency. the in
sufi:iency Of which was male plainly mani
fest during the present crisis. To that PROPOSE
tiOn itself there In little Objection, yet thc:e IS
a spectacle prdsentsI when We witness that
those who are the Most Cla:norJrS for such in
etease at the present %junCture ars usually hold
Ing up their hands in holy horror and solemnly
protesting agains: any other increase OF the
currency-especially III Increase OF silver
moley-as imitation" when in truth both sill
yer and gold are money metals absolutely in
capable OF initiation.
/ do not propose to discuss to any extent the
matter OF ratios. because 1 do not Leiieve that
the time has arrived for its serious considera-
ton. II the existing ratio is TO he changed at
al. the feasibility OF which at the present time
Is OF great doubt, it should not be enlarged.
but diminished. and put at Ii II I, SO as to cor
respond with the ratio under which the silver
pieces OF the countries composing the Latin
union are coinel-
The enlar GEM nt Of the ratio by this country
involves the recoinage OF nearly all our silver
at a tremendous loss. or e,So its absolute re-
tircment, which would be disastrous; while a
TclutllO1 Oi I1S TdliD 10 IL . WOuaI lllh =
to recon at a profit, AMI thus place or silver
pieces on the same piano as those OF European
countries.
Mr.. Hill then pays his respects to
the presidents message:
III elieved for one mon ent that the repeal
of the Sherman law would injure the cause Of
bimeiallism and lie the means OF placing or
tending 20 place the country upon a single gold
standard. / should never vote for 1t. but woIll
as earnestly oppose it As l am now favorins it.
1t is to be regretted that the president was
not more explicit In his last utterances. He
expressly advised the repeal OF the sherman
law and then urged other legislation as Gesira-
bic. but he left the exact nature thereof in
doubt. 1t was hoped that the pres ident, in
view OF the provisions OF the demo
cratic national platform in favor Of
n double standard and In view of the well
known opinions of q large majority of his party
in congress would have at least spoken a kind
or encouraging word in Eehalf OF u return 10 hi
metaliism. II would certainly have made the
path OF repeal an easier one ani prevented
mu b D,isconstruction aad bitterness. But
while ! regard such omissions as unfOrtu-
natS. and while colcejiny that IL is not
easy To reconcile the closing words of his mes
sage with a desire for the establishment of n
double standard. yet 1 am not disposed to ac-
cept such q construction OF them until further
evidence Of his advers, intentions has been
manifested. II he really intended us to under.
stand that he proposed hereafter to favor the
policy OF a single gold standard. then l must
absolutely decline to follow him in his neF de-
parture.
shall refuse to follow in the footsteps OF
any administration that seeks u place the
democratic party in a false position; that seeks
to lead it away from the pIth OF safety. away
from democratic principles an | platforms, ant
into the very camp Of the cn.my.