Mississippi leader. (Jackson, Miss.) 1892-1895, 1894-10-16
cupidity Of money lenders and their nu-
mcrous and influential agents

cupidity Of money lenders and their nu-
mcrous and influential agents.
That the difficulty could not have been
due to the want of confidence of our own
people in the silver money of the country
must have been equally clear when it was
observed that during the very ficrcest days
of the panic silver dollars were selling and
were eagerly bought up, even in Wall
street, at premium OF per cent-that is
to say, they were paid for at the ratio of
$103 in gold for 800 in silver. These facts
were well known to Republicans and DEM
ocrats alike, in congress and out, during
the extraordinary session of 1898.
There are some silver Republicans who
still hope and perhaps believe that the
Republican party will take up the silver
cause in good faith and advocate the un-
restricted coinage of that metal at the rela-
tion of 16 to L. / am sorry to differ with
those who entertain that opinion. In my
judgment, there is not the slightest foun-
dation for it. Actions speak louder than
words. Among the entire Republican con-
gressional representation in both houses of
congress from states east of the Missis-
sippi, on the passage of the repeal bill in
October last, thero were but six votes in
the house and one in the senate cast in
favor of silver.
OF course conventions of both parties
are still presenting to the country rcsolu-
tions demanding larger use of silver in
the currency, its restoration to its former
position, etc. After tho severe use to which
phrases of this character have for many
years been subjected, one would suppose
they could now hardly be taken seriously.
They may best be characterized in the
slang Of the day as "chcstnuts. -
With one honorable exception among
states not distinctly recognized as silver
producing statcs-that of California-the
silver resolutions and "planks' of Repub-
lican conventions are in substance the
same resolutions that wcro so frequently
passed at Republican state and national
conventions before tho repeating act of
last year.
Dust Thrown In the Eyes of Silver Repub-
licans and Silver Democrats.
All those resolutions and so called sill
yer planks aie the same sort of dust that
for many years has been thrown into the
eyes of silver Republicans and silver DEM
ocrats to blind them sufficiently long to
permit particular election to be held and
to secure their votes for that election. If
those conventions favored the free coinage
Of silver by the United States at the ratio
of 16 to without regard to the policies
of foreign governments, the English lam
guage is sufficiently copious to enable
them to say so. The repeal of the act of
1S9O-for the purchase clause was all there
was of it-dclnonstrates more plainly tho
position of the Republican as we'll as of
the Democratic party on the silver ques-
tion than any ''plank" ever inserted in a
platform.
"And Joab said to Amasa, Art thou in
health, my brother? and he smote him in
the fifth rib.
Those Republicans who still entertain
the idea that their party may take up the
silver cause do not fully understand the
position of its leaders. With the excep-
tions which have noted, all those leaders
are proud to be known not as national
but as international bimetallists. No
"pentup Utica" contracts their powers
They propose to enter into partnership
with the governments of Europe in respect
to a matter which the constitution places
solely in the keeping of our own national
legislature. The idea they implicitly hold
forth is that the process is very simple;
that nothing is needed but to call confer
ence of the nations and have the whole
matter arranged to tho satisfaction of the
American people. They are willing to
concede that we in this country may have
free coinage of silver provided we can in
duce European money lenders to forego the
unjust and uncarncd increment which
they are deriving from the persistently ap-
preciating value of gold
The leaders of both parties very well
know that there will be no further inter
national conferences for many q day; that
no person in authority here or elsewhere
wishes one called, and that, if called, such
q conference would accomplish nothing
whatever.
Great Britain has had single gold
standard law ON its statute books for near
ly sc years and does not propose to adopt
bimetallism, though if it did it would be
at ratio which the silver using countries
would never acccpt-a ratio not far re-
moved from 32 to /. According to all po-
litical economists of reputc, the value pos
sessed by any monetary unit, such as q
dollar, will depend, other things being the
same upon the number of units or dollars
out. Now, quantity of silver which at
the present American ratio of 16 to ]
would produce $50, 1000, 600 would under
the other ratio produce but $50, 600, 900.
So that, even leaving out of account the
necessary closing Of the vast majority of
silver mines, the change would enable tho
creditor classes of the world to accomplish
a monetary contraction greater than was
ever known In the history of time.
A Sample of the British Friends Of "Inter-
national Agreement"
The money lenders of Great Britain do
not propose to concern themselves in any
way with bimetallism. They are doing
much better under the present arrange
ment. Yet our Republican leaders pretend
to suppose that, although the bondholders
and national bankers of this country will
not permit our government to go to free
silver coinage, the bondholders and bank
ers of Great Britain will permit their gov
ernment to do so. How do the banking
classes of Great Britain look on the ques-
tionY Let me quote from the testimony of
Mr.. Bertram Currie, who is at the head of
one of the greatest banking houses of
London, given before the British royal
commission ON gold and silver (Second
Report of Royal Commission, pages A and
45):
Question-Do you think that fall Of
prices due to an appreciation of the stand
ard is no evil'
Answer-I think that fall of prices is
no evil.
GA fall of prices due to cheaper
production of commodities would be a
gain9
Al ask no questions as consumer. A
fall in prices benefits me.
Q.-Is 1t not fact that, owing to tho
low prices, largo tracts Of country that