New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-02-08
MR. CARLISLE FOR FIAT MONEY.
HIS RECORD AS AN ADVOCATE OF SILVER IN
THE HOUSE.

HIS RECORD AS AN ADNOCATE Of slLN En- IN
THE HOUSE.
To the Editor OF The Tribune
Sir: Mr.. CarlIsle's vacllatlons az Secretary Of the
Treasury In reference to silver though strange 70
many are by no means so to those familiar with
his Congressional career He is as he has always
BEEN an out-and-out silver and fat-money man.
who left to himself will be himself. In his new
role he reminds OF the story or the cat meta
morphoscd into a fine lady. All went wei TIL a
mouse happened - run across the floor He was
himself when he proposed, n the establishment and
Indignation Of the whole country. to pay the notes
OF 1870 in silver only. He had Immediately to be
taken In hand. disciplined. put In confine. and
coached for every word he was In future TO utter
To know what he and Is. one has only 10 read
the following extracts from speech delivered by
him in the House early In 1873:
IL know" said Mr.. Carlisle, that the worlds stock
OF precious metals is none too large Mankind will
be fortunate indeed II the annua, production OF
gold and silver coin can keep pace with the annual
Increase Of population. commerce and industries
According to my View OF the subject, the con-
splracy which seems to have been formed here and
In Europe TO destroy by legislation or otherwise
from three-sevenths to one-half Of the metallic
money OF the world IL the most gigantic crime Of
this or any other age.
1.-The contamination OF such scheme (he dsuse
OF silver would entail more misery upon the human
race than all the wars. pestilences and famines
have occurred In the history or the world
The absolute and instantaneous destruction OF half
the entire movable property OF the world. including
horses ships. railroads and other appliances for
carrying on commerce. which would be felt more
sensiby at the moment would not produce any
thing like the prolonged distress and dsorganization
of society that must inevitably result from the per-
mancnt humiliation OF one-ha.f the metallic money
OF the world. With an ample currency our In
dustrous and frugal people will speedily rebuild
,ba ~
losses OF property, but amount of industry or
economy the part OF the people can create
money. When a Government creates Il or author
ICES IT, then the citizen may acquire 1t. but he can
do nothing more.
81 am in favor OF every practical and consttu-
tional mea sure that will have tendency 10 defeat
or retard the operation of this great crime and
am in favo- OF every practical and constitutional
measure that will aid us In devsing just and per-
manent ratio of value between the two metals. so
that they may circulate side by side and not al
ternatey drive each other out desire to add only.
in conclusion that while the measure In its present
form G2OOO 900 per month"; Is not what the country
had a right TO expect. II is infinitely better than
ANYTHING the people have been able to obtain at
the hands Of Congress during the last fifteen years
II is the first victory by the people during many
years OF dreary warfare with the consolidated wealth
Of this and other countries and although 1t Is not
By any means a complete triumph. 1t marks the
beginning OF a and more popular era In Ma
t.onal Legislation; 1t attests mighty revolution In
public sentiment as attested at the Capitol 1t
places the great Industrial and producing masses
OF the people In the front and the non-producers in
the rear For fifteen years the people have been
on the defensive. and although justified by the
planest provisions OF law and the clearest prin-
cples OF equity. they have been completely driven
from one position another until they have stood
on the very verge OF financial ruin Gathering up
all their energies for this struggle they have adj
vanced. not very far. 1t Is true. but they have
advanced far enough to recover part Of the ground
lost In the preceding conflict
"Our power OF legislation on this subject will not
be exhausted by the passage OF this measure, and
we ought not to halt for a single moment In our
conflict to complete the work only inaugurated by
1t. The struggle now going on cannot cease and
ought not to until all the Industrial interests
OF the country emancipated from the hearess
domination of syndicaes stock exchanges and other
great combinations OF money-grabbers In this
country and in Europe" (Appendix. Congressional
Record. Second Session. XLVth Congress. page A.
The occasion OF the Secretary's speech was the
return from the Senate OF the House bill. which ne
earnestly supported providing for the free coinage
of silver, amended to reduce the amount 10
be coined to 100000 monthly. He opposed the
I amendment with all the force OF when ne was
capable unsuccessfully however. the House re-
| coded and concurred in the amendment by large
majority.
What motive had the great capitalists OF TINS
country and Europe combine for the DESTRUCTION
OF silver money when not dollar OF II was IN
circulation in the United States. nor nad peeh ior
forty years? England demonetized silver az cary
as 1916 Silver In the United States was eheetaa.y
demonetized by the act of 1884. which reduced 'ne
number OF grains in the gold dollar from 2+'o TO
$3.50 grains. in consequence OF Wne OF az DER cent
greater than gold and remaaeSd emone,ised
s9en nprpose OF the act Of 1884 was to place this