The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1894-09-13
HOKE SMITH SPEAKS
To the Georgia Democracy on
National Questions.
AGAINST SILVER FREE COINAGE
Closed His Speech with an Appeal to the
Voters to Remain True to the
Democratic Party.

ATLANTA, Sept. IA mass meeting
of democrats was held in the city THIS
evening. The principal features were
the speeches of Speaker Crisp, review
Ing the work of congress, and OF Secre-
tary Hoke Smith against the free coin
age OF silver. Speaker Crisp declared
his personal preference for the free
coinage of silver Much enthusiasm
was displayed. Speaker Crisp said:
"When congress met last year, 1t was
confronted with difficulties which
seemed almost insurmountacle. Trade
was paralvzed; manufacturing had al
most ceased labor was Idle; banking
institutions were failing, and conf
dence. the life and soul OF commerce,
was utterly dei troyed. In so far as
this deplorable condition was altribut-
able TO legislation, the republican
party was responsible. For more than
30 wears that party had made our
financia and economic lave.
"In 1878 the free coinage of silver
had been discontinued and gold be-
came the standard. In 1878 partial
coinage was resmed. In 1890 this law
was repealed and soon thereafter the
coinage of silver practically ceased.
These ucls of the republican party re-
suited in SO lessenng the volume OF
money Of final redemption as TO cause
the price of all commodities to
increase and to impair the confidence
of the people in the power of The gov
eminent to redeem outstanding obll-
cations.
"a law and practice which allows
citizen 10 poy his obligations TO the
government in silver. or at the same
time permits him to demand of the
government gold In redemption Of lis
obligation, is manlfestly unreasonable
and unjust, and In the nature OF the
case must impair confidence aid tend
to produce panic. While not pro-
Tossing to understand the question
fully In all lis bearings, | have always
been In favor of the free coinage OF
silver-I am In favor OF It now"
Opening his remarks, the secretary
reviewed the financial troubles of the
past Is months and congratulated The
south upon the excellent showing
made. The cotton states and the In
ternational exposition would prove Of
great assistance In the development
and prosperity of the south. In the
coming election the people of Georgia
should show 10 the world that the
wild theories Of the populists had no
foothold among them. Calling atten-
lion TO the recent experiences Of the
great states of Kansas and Colorado
under popullslic lu'e, the secretary
asked who would wish to see Georgia
follow the leadership Of Lewelling or
Waite.
Bad as " as the record of the third
party In the west, the crazy theories Of
Their leaders in congress were enough
TO stugger the comprehension and
shock the thoughtful man. They
sought disbursements amounting In
the aggregate to over S25, 900, 900, 900.
The people of Georgia could not afford
to indorse such party. The state
would be dIsorganized locally and die.
credited before the world II 1t appeared
TO have even listened TO their imprac-
ticable theories.
Free Coinage of silver.
A few OF their beliefs were worthy of
discussion, but there was one which
seemed to have appeared attractive, al
though when carefully investi gated 1t
must be classified with their other
theories as almost equally wild and I'M
practicable. He referred to the free
and unlimited coinage of silver ut the
ratio Of l6 to l by the United States
alone, and declared 1t TO be plan Ut
terly at variance with sound business
principles and fraught with lncalcua-
BILE evil. He did not wish his position
inisu Understood. He was a thorough III
mitallist, strong In his faith, and no
one could be more unalterably opposed
to the adoption of a single gold stand
ard. The Injury inflicted by single
standard currency had been recently
demonstrated abroad, and the evil eff
fccts had been felt here upon products
OF this coun try raised for foreign con.
sumption. The currency in the United
States had not been contracted, but on
the contrary the per capita today was
SPA 10, as against an average OF $l4.S5
from 1860 to 1860.
The secretary then described the
eight different kinds of money now
used In this country and maintained
that the instant any one of these went
to premium II would become COM
modify for private sale aud contraction
would follow, but by preserving them
upon an equality and by an increase
equal to the growth OF business and
vented. This could be accom- pllshed,
firsi, by changing the bullion in the
silver dollar 80 as to require 100 cents
worth of silver In any dollar; second.
by International agreement, which, If
secured. would prevent the necessity
of changing the ratio; or, third. hy
calling in ali the money of small de.
nominations-say, $40 aud less, not
II al nd oil tl.,.
the right of way.
The Silver Question.
After sketching the history of silver
decentralization by Germany in 1871
and subsequently by Norway, Sweden,
Denmark, Holland, Russia and the
nations comprizing the Latin union,
Secretary Smith said: ''In the mean
time the United States had changed
from the coinage of only IS, 3Sl, 800 in
silver dollars In so years up to 1873 to
the coinage of $4l9, $40, 900 standard sill
verIdollars and to the purchase of silver
upon which treasury notes were issued
making total coinage value of
500, 0OO,OOO OF silver used In this
country during the last 20
years From an average OF 81 900, 600 a
year the United States had changed TO
use Of nearly $50. 900 900 a year. The
annual production OF silver. in the
meantime, had changed from $50, 0c0,-
600 at the coinage ratio of 1878 to $780,
600, 900 at the coinage ratio of 1892, and
deprecated in value about so per cent.
The people of the United States have
used 20 times as much silver as the
money OF full legal tender at present,
as they had before 1873. The depre-