The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1894-08-08
Stand by the Platform.
atlanta Journal.

Democratic newspapers and some
Democratic politicians in Georgia in
sisting upon the free, unlimited and
unconditional coinage Of silver now at
the ration of 16 to 1, and declaring
that it is demanded by the Democratic
platform. We ask those who take
this position to read carefully the
financial plank of the platform adopt
ed by the last national Democratic
convention and see if they can find in
it justification of their plea.
The plank is published at the head
of the Journals editorial page. 1t is
clear and nobody need misunderstand
it. Certainly no Democrat should
misinterpret it willfully. The Demo.
cratic platform demands bimetallism.
It does not favor either the single
gold standard or the single silver
standard. 1t is for the use Of both
gold and silver as the standard money
Of the country.
But the platform insists upon sound
money, money which shall be equal in
purchasing power and in the payment
of debts.
In order to make sure that whatever
money the government issues shall be
of this kind, the platform fixes certain
conditions for the maintenance Of the
parity Of all dollars. The free coin
age Of silver at 16 to l now would be a
palpable violation Of these conditions
and would speedily destroy the parity
which the platform says must be
maintained.
It is very easy to say that the Unit
ed States ought to 60 ahead and coin
silver without regard to other nations,
but every thinking man must know
that the speedy result Of such a policy
would be to put premium on gold
and to destroy the parity of silver
with gold, to which the parity is
pledged. We have little over 5000,
600, 1000 Of gold and about the same
amount of silver, and the parity be-
tween the two is now perfectly main
tanned. AS the two are interchange
able, they have equal value in the
payment Of debts and in the markets,
as the platform says they must have.
But as soon as we enter upon an in
definite increase of our stock Of silver,
gold will certainly disappear from cir
culation. Those who advocate the
free coinage Of silver by the United
States at this time contend that it
would expand the currency, but the
potent fact is that it would contract
the currency terribly by taking out Of
the channels of commerce our $500,
100000 Of gold.
There is & great deal of loose talk
about contraction, but there has been
no such thing. On the first Of July,
1894, there was in the hands of the
people of this country $4,000, 600
more currency than there was on the
first of July, 1893.
The secretary of the treasury is now
coming from the silver bullion in the
governments vaults silver dollars at
the rate of 10000 a day, and this
amount may soon be increased.
But as soon as we proceed to coin
silver outside of that which is sup
piled by the stock of bullion the gov
ernment has we drift toward silver
monometallism. An international
agreement with the great powers OF
Europe would enable us to coin silver
safely, and there are indications that
such an agreement can be had. Both
France and Germany are known to be
favorable to it, and with their aid we
might proceed even if En- gland held
back. It is folly to talk Of moneta-
ry agreement with the weak and un-
stablv South American republics.
They could give us little aid in sus-
tanning an unlimited quantity of sill
yer.
We have strong hopes Of the early
settlement of this question by interna-
tional agreement. But in our present
condition the Democratic platform
imposes plain duty upon us. 1t is
to avoid the dangerous experiment
of free silver coinage until safeguards
of the parity of gold and silver are
firmly fixed. That is the only way to
maintain bilnetallism.
Stand by the platform |!