The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-10-28
Senator Walsh and the silver Question.

%
The position Of Senator Walsh on the
silver question is rather dificult 10 I'M
derstand. We do not doubt his sincerity.
but he does not seem to be as frank as
he should be.
From his speech to the members of the
quotes as follows: They say We will be
drawn TO a silver basis alone II we
adopt free coinage at the ratio Of Is TO 1.
If the Democratic party in its platform
at Chicago meant anything, if it meant
to be honest, that declaration meant IS
to /, and nothing else"' Further along
in his speech the Constitution quotes him
as saying: I'VE hear the cry of honest
dollar Don't you want an honest dol
lar?' they ask OF course we do. We
want every dollar to possess the same
debt-paying and purchasing power as
every other And that will be the case at
10 to J. .
For hundred years we have been able
to hold our own and not until this crime
against silver was there such depression.
And yet. in the midst of plenty what do
we see? The crops are abundant. but
there is depression everywhere, except
in the middle and eastern states"
1t is clear from the foregoing that
Senator Walsh favors the free coinage of
silver at the ratio of 16 to L; that he be
lieves in an honest dollar and thinks that
the low prices of wheat and cotton are
due to the fact that the minis are not
open to the free coinage Of silver.
But Senator Walsh does not tell us
why he thinks a silver dollar would have
the same purchasing power as a gold dol
lar if the coinage of silver were made
free. Neither does he tell us why he
thinks the prices of wheat and cotton
would rise If the minis were opened to the
free coinage of silver; and that is the rea-
son we think he is not as frank as he
should be. He simply makes assertions.
He ought to have very good reasons for
his assertions.
Why. for instance, does he think that if
the coinage Of silver were free at the
ratio of 16 to /, the silver dollar would
continue to have the same purchasing
power as the gold dollar? The coinage of
silver is free in Mexico and many other
counties. The silver dollar has not the
same purchasing power in those coun-
tries as the gold dollar. Why should this
country prove an exception? 1t would be
interesting to have Senator Walsh's an
swer to this question. 1t would also be in
teresting to have him give one satisfactory
reason for thinking that a silver dollar
would continue to have the same purchas-
ing power as a gold dollar in this country
however great the coinage of silver dol
lars might be.
Why does not Senator Walsh tell the
people how the free coinage of silver at
the ratio of Is to 1 would cause the prices
of wheat and cotton to advance while the
silver dollar had the same pur-
chasing power as the gold dollar? He does
not seem to have applied himself to the So
luton of that problem in any of his public
addresses. Does he mean to say that If the
coinage of silver were free there would
be more money, and hence it would be
cheaper? But isn't money cheap now?
Was it ever before so cheap in the whole
history of the country? 1t can be had at
1 per cent. per annum on call, and for
six months or longer at 1-2 per cent per
annum. There are tens of millions of dol
lars idle in the banks. The banks do not
know what to do with it. Surely Senator
Walsh is not arguing for more or cheaper
money at this time. Then what does he
want?
Senator Walsh would render the public
a genuine service if he would show that
the embargo on silver is responsible for
the depression in business or the low prices
of wheat and cotton. or the price of any
other article. If silver is causing all the
trouble, why is it that the prices of corn,
potatoes and bacon have continued fairly
high? In the face of facts do not the
senator's assertions appear to be rather
embarrassed?
After all, does not the senator mean that
the free coinage of silver at the ratio OF
l6 to l would bring the country to a silver
standard? In that event, one gold dollar
would be worth two silver dollars, just
as it is in, Mexico. Then, of course, The
prices of wheat and cotton would be-
/ higher in silver than they are now, but
the silver dollar would not be an honest
| dollar and would not have the same pur
chasing power as gold dollar
We are sure that the people of the STATE
would be gratifed if Senator Walsh would
give them real frank talk on the silvel
! question, answering satisfactorily tn,
| questions we have suggested. We though
he would do it when he addressed tn,
members of the legislature, but we. wer,
| disappointed.
The Fair Freights Issue.
rIhn lhn -