The Camden chronicle. (Camden, Tenn.) 1890-current, 1894-08-31
SOME FACTS OF INTEREST.
Mr.. Editor:

VIII you permit a Democrat who takes |
an unbiased interest in the matter to oc-
cupy small amount of your valuable |
space.
After studying over carefully the speech !
made by General Atkins at Camden last
week, we find that when boiled down his
position on the great silver question is in
substance as follows
o. Coinage of gold and silver at pres
ent ratio.
(2) That a man may have a certificate
for silver dollar which is redeemable in
gold.
(3) Both gold and silver shall be coined
without mintage.
(4) That future coinage shall be con-
fined to the American production OF both
gold and silver.
(5) That the Government should no
buy silver bullion and coin it; that tibet
holder of gold or silver bullion should re,
ceive the commercial value of his bullion
in the same metal, and that the difference
between the commercial value of bullion
and its coinage value shall be put into the
Treasury Of the United States and to be
used in the payment OF the obligations of
the Government, and he q legal tender in
the payment of all debts.
He favored the repeal of the Sherman
law, and said President Cleveland was
right in having it repealed, because twas
annually drawing $50 100000 of gold from
the Treasury, and in that way had caused
the recent panic at the prospect of draw
ing all the gold out and bringing it TO a
silver standard.
Now, let us take a look at the effects if
General Atkins policy was carried into
execution.
The annual product of gold last year in
the United States was $4,000, 900; the
amount coined was $56,O00,O00. Thus,
his policy would reduce the gold supply
$21 100000 annually. The United States
product of silver last year was 60.00O,0OO
ounces, the value OF which was $77 ,000,-
600.
1t is evident from the above statistics,
which are correct, that such policy would
be worse than the Sherman law. Under
that law 100000 of silver certificates
were put into circulation annually, rep,
resenting in silver bullion, at its CONNER.
cial value, $50,000,000 of gold, because
each one of these certificates was redeem
able in gold.
The $56.000,000 in gold coined in the
United States made the gold coinage ex
coed the silver coinage $6000,0O0 annu
, ally. If it was necessary to stop the in
crease OF silver money absolutely by thu
repeal of the Sherman law-which he ia
vored-will some one please explain how
the condition of the country would be bet
, tered if Congress should adopt his polio!
: and we had only $35, 900, 900 of gold add
S ed to our circulation annually as agains
4 100000 Of silver?
I Under the Sherman law we had $4,000,
e COO more added to the gold circulation
than was added to the silver circulation
: Under General Atkins plan we woul
e have $40, 100000 more added to the silve
n circulation annually than we would adj
V to tho gold circulation. If the Sherma
: law, with its operation, having $6,000
:. 600 more gold than silver added to tn
circulation annually, caused a panic an
was going to drain the country of all il
/. gold-as General Atkins and Presiden
q Cleveland insist-how long could til
country hold a dollar in gold under hi
= policy, which would add two dollars i
u silver for every one in gold to the circl
t lation?
q In other words, if the Sherman law pre-
duced panic how long would it be befol
7 General Atkins plan produced absolut
u bankruptcy?
l. DEMOCRAT.
Big Sandy, August 81.