Woodville Republican. (Woodville, Miss.) 185?-current, 1894-11-03

period there was no silver in
circulation at all In fact up TO
/ 1873 the Government had only
cOigned eight million dollars Of
silver, and this was az a premium
and disappeared from circulation.
In those years nobody ever saw
an American silver dollarl
In 1873 the Government began
to purchase and coign silver, and
in 1.-THE fifteen years succeeding
coigned and put in circulation
nearly $500, 900, 900, but the price
Of cotton and other products fell
steadily all the same.
II is quite clear from this that
the amount Of silver in circula-
ton does not affect the prices Of
products and particularly cotton.
Mr.. lIathOrn called loudly for
the free and unlimited coinage Of
silver. All democrats favor the
free coinage Of silver. Their
platform is explicit on this point.
Some democrats are in accord
with the populists in advocating
"free and unlimited coinage"
but this policy is rapidly loosing
ground.
Our space does not permit ex-
tended arguments, and so we
must deal mainly with facts and
suggestions and leave our readers
to draw conclusions. All the
silver now in circulation is a full
legal tender and at par with gold.
Why? Because the Government
will redeem a silver certificate in
gold if required, and the two
metals, when coigned, are thus
kept at a parity. But let our minis
be free to the world and what
would necessarily result? Silver
bullion is worth about 80 cts an
ounce--it is really worth a few
cents morc--and the silver in dol
lar is but little more than half the
value of the coign. Does it need
argument to convince any one
that the owners Of silver bullion,
whether they lived in India,
England, or Mexico would rush
their silver TO our minis when
they would have every fifty cents
worth converted into a legal ten
der dollar2
There could only be one result,
the government could not keep
gold in the Treasury and the dol
lar would sink Immediately to its
bullion value, and gold would
disappear from circulation. The
Democratic party is pledged to
preserve the equality of both gold
and silver as money, aud Mr..
Clevelands financial policy is in
strict accord with this pledge.
The Secretary of the Treasury is
now coigning silver as fast as it
can be put in circulation.
Mr.. Hathorn merely mention
ed the Sub-Treasury scheme and
without endorsement. He was
too sensible for that and was
evidently ashamed of it. Never
theless it constitutes plank in |
his party platform. This scheme
is not worth discussing. 1t is
class legislation of the very worst
type; n thing which Mr. Hathorn
denounced in other parties. 1t
is based upon the identical prin-
ciple that underiles the national
bank system, which Mr.. Hathorn
desires to abolish, and is absurd
and impractical. But according to
Mr.. IIathorn il is a sample of I
Jeffersonian Democracy!
He urged the Government
ownership of railroads, but like
all of his class failed to say how
they were to be acquired, wheth-
er by purchase or by taking. The
latter plan is more in line with
the "Jeffersonian Democracy" of
the populists, but we will sup
pose forargument they would buy
if they had the power.
In 1892 the railroads in the
States were worth in
round numbers about nine bill
ions or, as some claim fourteen
billions of dollars. To pay this
N four per cent bonds, running
fifty years, would require a small I
AK of nearly two millions per !
Der day or over $500. 200, 900 per
lnnum during that timel And {
-et Mr.. Hathorn promised to
reign of economy