The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1894-10-02
ESTABLISHED 1879
THE SILVER REPEAL.
Has 1t Made ANY improvement In the Busi-
ness of the Country?

Has 1t Made Amy improvement In the busi-
ness of the Country?
President Cleveland called congress
In special session Aug. Z, 1898, and
sent to them his message, in which he
says:
1.-The existence of an alarming and
extraordinary business situation, invoIv-
ing the welfare and prosperity of all our
people, has constrained me to call to-
gether in extra session the peoples rep
resentatives in congress. With plen-
teous crops, with abundant promise OF
remunerative production and manufac-
ture, with unusual invitation to safe
investment and with satisfactory assur-
mace to business enterprise, suddenly
financial distrust and fear have sprung
up on every side. Numerous moneyed
institutions have suspended because
abundant assets were not Immediately
available to meet the demands of fright
ened depositors. Surviving corporations
and individpals are content to keep IN
hand the money they are usually anx-
ious to loan, and those engaged in legit-
innate business are surprised to find that
the securities they offer for loans,
though heretofore satisfactory, are no
longer accepted Values supposed to be
fixed are fast becoming conjectural, and
loss and failure have invaded every
branch of business. l believe these
things are principally chargeable to
congressional legislation touching the
purchase and coinage of silver by the
general government. "
OF this deplorable condition of the
country the president says! ''The evil
effects of the operation" of this law
are constantly accommodating" that it
is depicting the treasury of gold; that
it is Of "the utmost Importance that
such relief as congress can afford be
afforded at once, :" and I earnestly rec
ommend the prompt repeal of the pro-
visions of the act passed July IA. 1890,
authorizing the purchase of silver bull
lion .
In accordance with this urgent rec
ommendation of the president house
bill No l was introduced to repeal the
purchasing clause of the act. Under the
whip and spur Of party leadership it
was forced through the house and senate.
The Democratic party platform was ig-
nored its sentiment suppressed and indi-
viduals coerced. Tariff reform" was
given back seat, free coinage was
trambled under foot and the commands
of the party autocrat enforced. The re-
peal act was approved by the president
and became law Nov. l, 1893, and
congress adjourned.
By the repeal of this act the coinage
of silver dollars ceases. Private owners
are not allowed to have them coined,
and the government cannot coin any
more without authority of law. Not
even the bullion in the treasury or the
seigniorage or profits on the purchase
] of silver can be used 1t was in vain
i the silver men in the house and senate
protested Not a shred of legislation
could they get Instead Of free silver
! coinage" the professedly silver party
i has given the country mo silver COIN
age Of standard dollars. 1t may all be
right, but what fix for Democratsl
And now for results. Has financial
distrust and fear passed away? Has the
drain of gold from the treasury ceased?
Has there been any Improvement in the
past 10 months? If not is it not be-
cause the president was mistaken and
some other cause produced the evil? Is
not the fear of Democratic misrule and
not silver purchasing the source of the
4 trouhlpp