Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-11-30

For my part. I have never been able to under.
stand what Is meant by . double standard, or
double measure OF value. and have never
found anyone who could tell me- To my mind
1t seems as absurd to contend that there
should be two different standards or measures
OF value as It would be to insist upon having
two yardsticks Of diRerent lengths or two gall
Ions OF different dimensions. II there were
TWO standards, or measures not equal in value,
1t Is evident that one Of them must
be false measure; and II they were Of equal
value. it Is evident that no matter what the
law might declare. there would be in fact but
one measure. although composed of two differ
emit kinds of material II, for instance, the sill
yer dollar and the gold dollar were OF precisely
the same value and could be so kept at all
times, there would be. in fact, but one stand
ard, one unit for the measurement of values
Whatever that actual standard may be as es-
tablished by the laws OF trade and finance,
whether 1t be so many grains of fine gold or so
many gra ms of fine silver 1t is the duty of the
government to conform to it in the payment Of
its obligations and in all its dealings with the
people.
It does not follow from anything have said
that nothing shall circulate or be recognized
as money OF currency except gold or paper is
sued against gold, nor that the prices OF COM
mondites ought to be, or will be, fixed upon
the hypothesis that gold is the only money in
our currency. whether it be silver or paper
should be permitted to depreciate below the
financial policy which would encourage or per
NIT such depreciation, or create a reasonable
apprehension of such depreciation, would un-
growth and expansion of our industries. and
ultimately bring almost universal bankruptcy
bered, however. that it is the function and duty
OF the legislative department to establish the
policy OF the government upon this and all
other subjects, and to clothe the executive
with the necessary authority and means to
carry it out. When the authority and means
are granted. the executive department Is re-
sponSible for the manner in which the law is
executed. but beyond this it has no power to
act. and. consequently, no duty to perform.
Gentlemen the question whether the obliga-
lions of the United States will he paid in coin
currency in all the markets Of the world has
already been settled and it has. in my opinion,
been settled for all time to come. 1t has been
settled, not by any specific act OF congress
prescribing the exact mode OF payment, but ny
| the spirit and obvious purpose of the whole
body OF existing legislation upon the subject,
lean people and the declared purpose Of those
who have been intruSted with the execution of
the laws. The disposition and ability of the
government to maintain its own credit at the
highest possible standard. and to preserve the
integrity of all the forms of currency in cir
ably doubted. and ought not to be subjects OF
serious controversy hereafter.
Mr.. Carlisle then turned his atten-
ton to the fate of silver.
This does not imply that silver is to have no
place in our monetary system. What is to be
problems which time and events alone can
solve but for many years, Notwithstanding all
our legislation in it's support the fluctuations
in its value have been so rapid and great as
to demonstrate the fact that it 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 ex-
| listing circumstances. for any one government
to establish and maintain u stable relation be-
tween the two metals. and for this reason
| alone, if there were no others. we are bound to
place some reasonable Limitations upon the
coinage and use of silver. How much Of it can
be safely coined, and upon what conditions it
| can be safely used, are questions upon which
there will be wide differences Of opinion; but
after all that can be SaiG 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.
IT is enough to say at present that we have
already on hand stock Of silver. coined and
| uncoined, sufficient to meet all the probable
requirements OF the country for manv years to
The ss miats OF the United 1v States have
we now have 140.6e9 go fine ounces of silver
bullion. which, at the ratio OF Is to l, would
make 1881 .9l4sil. or 1901 ,.47 39l in the agsre-
gate. Besides this, we have 1851, Oo2 in SUBJ
sidiary silver coin, which is legal tender to
the amount Of slo and is by law redeemable in
full legaltender money on presentation. Our
total stock OF gold coin and gold bullion Is
| monetary union. with combined population
| Of more than $4,000. OOO. exclusive Of their
SIS ooo. oo OF full iesai.tender silver, and soS.
OOO.OOO of subsidiary silver coins; and yet they
found 1t necessary several years ago to discon-
tinue the coinage Of legal-tender silver and en-
ter into an arrangement by which each coun-
try agreed to redeem in geld all its own legal
| tender silver coins when presented by any
other member of the union. Thus gold has
been made to support q limited quantity Of sill.
Yer coin at par in France. Belgium. Italy.
Greece and Switzerland. as it has been re-
Quired to do in the United States since 1873.
and as it must continue to do hereafter, here
cur in the relative values Of the two metals.
Being the greatest silyer-producfng country
sns ae coin ana hand
States can not be otherwise than deeply inter
ested In every measure designed to enhance
safe and sound basis. but we can not alone
maintain its unlimited coinage as full legal
er great nations of the earth: and the country
is to be congratulated upon the fact that We
which enables us to lpreserve our own none
tary system intact and exercise potent tnfiu-
made ~ for the permanent adjustment of this
very important and difdcult question:
Mr.. Carlisle defended the recent &C
ton of congress on the silver question
as follows:
It is a great mistake to suppose that the sup
porters Of our recent legislation upon this sub
ject was animated by any feeling Of hostility to
the continued used OF silver as 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 eject OF
its continuous accumulation in the form OF
bullion in the vaults OF tho 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 anording 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 rs years. and has passed through many
trials and vicsSftudeS. 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 will inspire
| confidence and revive the spirit of enterprise
| 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 IA resume operations
| under moro favorable conditions than have
| existed for may years: and am sure you win
| cheerfully cooperate in any effort they may
make in that direction.
| "A miner came into Mojave, Cal, a