The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1893-08-12
SATURDAY,
Senator j. Z. George on the Financial
Situation.

The following letter to Major J. M.
tBillups, of Lowndes county, Miss, Civ.
tirg his views on the currency question,
Twill be read, not only by Mississippi
ans, but by the people Of all other
States, with interest, as it comes from
one Of the most acknowledged states
men of the Union. Plain, practical
and to the point, it must have its due
weight in arriving at the final conclu-
sion on the subject of gold and silver
money:
Maj. J. NJ. B1LLUPs::
Dear Sir:-I received your letter
asking certain questions rs to my po-
sition on what is termed the silver
4 question just ON the eve of my depart
ure for Washington, and 7 now answer
it amidst constant Interruptions conse-
quent on arranging and packing books
and memoranda needful to my service
I'm the senate. The questions you pro-
pound are as follows:
!. Do you favor the repeal of the en-
\ tire Sherman silver act, or only the
compulsory purchase act?
/ 2. Are you in favor of the enactment
1 Of any law for the free coinage of silver
and if so, upon what ratio?
NV answer to the first question is,
that do not favor the unconditional
repeal of that act. nor Of the compul-
sorry purchase clause. l do not like
the act; it was a scheme, as stated by
Mr.. Sherman, to defeat the free coin
| age of silver, and for that opposed it.
The repeal of it, or of the clause des.
1ignated by you, is now urged for the
manifest purpose OF completing the
partial decentralization of silver it sane.
tions. shall, therefore, vote as above
indicated unless the repeal be accom-.
panied-1 say accompanied, not merely
promised-by provision which either
fully restores silver as a money metal
or, that being unattainable, than by a
provision more favorable to such res
toration than the act itself.
To your second question l answer
that am now, as have been all the
time, in favor of the coinage of silver
on the same terms and conditions o.
gold. and believe that the government
should not discriminate between the
two metals. In February, 1891, when q
candidate for reelection to the Senate
I wrote to q committee Of the Carol
County Alliance that I favored ''the
free coinage of gold and silver" and
believe that reiterated the statemen
in every speech ] made in that canvass
The Democratic party of the State as
i sembled in convention in June or Jul,
of that year, declared in the platform
r that: I'VE believe that gold and silve
should be coined on the same terms ant
conditions, and that when the gov
ernment shall cease to discriminate
| between them they will freely circulate
side by side and be equally useful ant
acceptable to the people,"
pledge to the people as to my actor
! as their Senator, and this resolution o
the State Convention is also Il pledge
binding on me as on other members 0
the party. These pledges I mean il
good faith to redeem, in letter and il
spirit.
am inclined to believe that rcmon
etization on the present ratio will, il
. all probability, make the gold and sill
YER dollar equal: should it be shown
however, that this is incorrect, | vii
then favor such new ratio as will ac
complish this equality. Whether
when new ratio shall bn adopted, i
should be brought about by adding II
: the silver dollar or subtracting from
; the gold dollar, will depend on wheth
. cr it shall be ascertained that gold ha
/, tn en- risen in value, as it certainly ha
now, or silver has fallen-I shall favo'
such addition or subtraction as will, a.
; near as may be, keep the dollar-tht
; unit of our currency-at its old value
, whereby no injustice will be done tt
debtors or creditors.
| You suggest in your letter that m.
, answer be treated as confidential If
prefer. To this I will say, that while
, I feel repugnance to parading osten
tatiously my opinions before the pub
lie, yet my constituents have a righ
to know them. In this view I hav'
written to you; this letter is your prop
erty and you can use it as you like.
am Very truly, your friend,
, J. z. GEORGE.