The Wichita daily eagle., 1894-01-05
FREE COINAGE IN THE WEST AND
SOUTH.

Under the title 'eThe New Sectional
ISM Professor L. N. Keasbey of the
University of Colorado, contributes a
valuable paper to the January Forum.
in which he deals particularly with the
western idea OF the free coinage Of silver.
Without regard to its merits or demerits.
the purpose of the writer was to furnish
an expose of the sentiment now prevail
ing in the west, and making rapid in
roads in the south On this issue. That
he writes from an unprejudiced stand
point is evident from the fact that he is
not in accord with the western idea. If
it serves to open the eyes of eastern
readers to the extent of the free coinage
sentiment in the transmIssissippi coun-
try the author may feel that he has per-
formed a valuable missionary service.
He attributes the origin of the dogma
of free coinage to the mine owner. He
further shows, with careful observance
to detail, how the westerner has come to
the belief that all his financial hardships
are an outgrowth of the effort to main
tain gold standard. He makes this to
apply to the farmer as well as the miner
As evidence of the community of inter-
est between these industries he cites the
well-worn theory that the price of all
farm products has declined in almost
exact proportion to the price of silver as
by gold. The writer gives it
as a fundamental belief, with large
ma jority of the voters of the west, that
this was brought about by the repeated
attempts to demonetize silver. With
gold as the only standard of value its
purchasing power becomes annually
greater as the proportion of our ex-
changes outgrows the output of that
metal. The margin is ever widening
between the value of all farm products
and the unit of value as expressed in
In addition to this popular
view he discloses that it is not only an
theorem with western people,
but that "the question is a great moral
one," as deeply rooted in their minds as
were the religious doctrines of the early
middle ages. "At just what point" says
the writer, ''the logic of the westerner's
financial policy could be punctured, or,
indeed, where his statistics might be
proved fallaclous and misleading, is
not my purpose here to consider, be-
cause we are no longer dealing with an
abstract question of finance, but are
rather confronted by potent sectional
force. The conversion of the people has
been accomplished. The doctrine of
free silver is today the sacred dogma of
of the west, and all her people are
orthodox"
Dwelling upon the portentous growth
of this sentiment, it is cited that active
are Systematically spread
ing it in the south. If the east and west
can be divided in sentiment upon
single sectional issue, there will be little
difficulty in arouslng party prejudices in
the south, sufficient to bring her in line
as willing ally in the interest of free
coinage. He quotes from leading
western newspaper that "Ths Bulls
Run campaign has only been fought.
The Gettysburg victory comes next year,
and in 1896 the goldbug Appomattox."
In the same spirit which prompts this
writer to setforth SO fairly the views of
western people. the teachers and
preachers of all isms ard systems of
finance can well afford to discern the
all too legible now
the west. 1t is more
TO the interest OF the eastern
to have stable and
secure currency, and yet one acceptable
to all sections. than to his poorer neigh
Dor west. Whatever credence he may
give to this New Sec,ionalism" in the
west and south, he should see that on
united vote he would represent hope
less minority. Day by day it is becom-
ing apparent that this question is to be
settled on sectional lines and business
principles Time honared party princi-
pies are now dead letter, SO far as our
currency is concerned, and the people
are pointing out specific duty to their
in congress.
The same issue Of the same magazine
an able article by David A
Wells, in which he makes the ultimatum
that nothing will be acceptable to the east
but gold standard. To say the least,
this is bad form, especially when a
majority hold opposite views. 1t is
emphasized by the fact that MIR. Wells
stands at the head as a writer on inan-
cial matters in the United States. His
great wisdom and long experience should
teach him that Americans are not
swayed by dictation and intolerance,
and that no man speaks by absolute au-
thority. THIS has been given to no one
since the reign of Christ.
We have no word of defense for the
absolute free coinage of silver, but we
can see that campaign of education, as
Indicated by Professor Keasbey, would
just now be most potent influence in
bringing our people TO an understand
ing on this vital issue.