The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-06-11

tie S0lu inc DECENTRALIZATION OF 6ltNtC,
with all its train of results, was only u lit
tie thing and made but little difference.
II that is SO and the difference is SO small,
then the difference to return to the old or
der is not SO great. 1t is just as far from
here to my home in Nebraska as it is from
my home in Nebraska to Memphis. II
just little step was taken in 1878, then
there is but little step back. But he says
that to go back would revolutionize the
finances Of this country. 1t was q revolu-
ton to take the step we have taken. 1t is
no worse to revolution one way than 1t
is another. 1t is no worse to reyolute up
than Il is to revolute down. And yet Mr..
Carlisle and others are so driven for ex-
cuses thai. they tell you the net of 1873 was
passed with the full knowledge of what
was being done 1t does not Really matter
whether that is so or not. If a man knocks
me down with club, the same blow will
hurt just as bad whether done intention
ally or by accident. So 1t does not make
much difference whether that act was
passed knowingly or unwittingly.
But, my friends, If you want to know
what the facts were with regard to that act
will state that Senator James G. Beck of
Kentucky, the predecessor of Mr.. Carlisle
as senator from Kentucky, said that the
people did not know when the act of 1878
was passed that it meant the demonetiza-
ton of silver. Allen G. Thurman states
that it was not known in the senate when
1t passed that it provided for the demone-
tization of silver But, in any event, you
cannot if you restore silver give back to
the mine owner any more than has been
taken away from him. OF course If you
rob a mine owner it does not make any
difference according to the gold advocates.
Was it your representative in congress who
talked to yesterdays convention about tho
"rotton boroughs" west of the Mississippi
river? When Rhode Islands two senator's
pair with two senators from Mississippi
to Offset undesirable legislation, that is
not rotten borough, nor when Vermont's
senators pair with Texas senators for like
purpose is that rotten borough 1t is
only the boroughs west of the Mississippi
river that vote as Mr.. Carlisle did II years
ago that are rotten.
The Mine Owners Profit.
But there is one conflict of opinions
have never heard explained. The advocate
of gold says, Are you going to let the
man who holds so cents worth of bullion
bring it into the minis and have it coined
into 81 and pocket clear profit of 80
cents9' Then later on in his argument
he asks, care you going to flood this
country with 30 cent dollars9' You have
all heard this argument used. The two
do not hang together If
mine owner brings his 90 cents worth Of
bullion to the mint and makes 80 cents
he has got to get 100 cent dollar And
10, 10 ho4
cent dollar a 80 cent dollar Immediately
after the mine owner has made his 80 cents
profit on it, If you have so cent dollars.
why talk about theproflt of themine own
err The mine owner does not make cent
out of the transaction.
Mr.. Carlisle said yesterday that we had
an abundance of money. That is pleasant
surely L don't know what
people would do If somebody didn't come
along now and then and explain things to
them. You would not have thought of
that. You would never have suspected it,
He tells you that you have plenty of mon
ey, and all you have to do is to go on and
enjoy it. Back in 1878 you didn't have
enough OF it. At what particular moment
did the change come about and you got
enoughY You didn't have enough when
Carlisle voted for free and UNI
limited coinage of silver in 1890. 1t is
very hard to fix the exact time when
things happen. There's tho income tax
now. The income tax was constitutional
two months ago. But now it is not. A
of tho supreme court bench chang
ed his mind somewhere between the two
periods. When was there an abundance
of money? 1t was not in 1878, for Mr..
Carlisle then said that "the grinding proc
ess had been going on for the last few
years" Here is what he said in full:
sit will certainly afford some relief. 1t
will reverse the grinding process that has
been going on for the last few years. In
stead of constant and relentless contrac-
ton, instead of constant appreciation of
money and depreciation of property we
will have expansion to the extent Of at
least SO, 600, 600 per month, and under it's
influence the exchangeable value Of COM
including labor, will soon begin
to rise, thus inviting investments, infus-
ing life into the dead industries of the
country and quickening the pulsations of
trade in all its departments.
Lriven to Desperation.
That grinding process kept going on
lll1 1COD, WIltll MT. EOlltTlldn Stlu We
needed more money. hope because these
and Sherman-have come
together it will not prevent us accepting
what Mr.. Sherman said. In speech on
June s. 1890, he said we wanted more
money. Now, 1 wonder what Secretary
Carlisle thinks of Mr.. Sherman by this
timer Five years ago Mr., Sherman said
we actually needed $54, 900, 600 in order to
keep pace with growth of population and
business extension, and yet in 1898 Mr.,
Carlisle helped to secure the repeal of
law and to wipe out every dollar of in
creased silver coinage, and since that time
there has not been dollar added to it,
and now he tells you that after two years
rest from the coinage or purchase of mon
ey that you have an abundance. At what
time did it happen that we got an album
dance?
1t looks to me rs IL Mr. Carlisle was
driven to desperation to find some reason
for his present attitude on the money
question. He says we use credit in our
business transactions SO extensively than
for money is every day diminish
ing. He says there is small amount of
money used and they assume that per
cent of money and 95 per cent credit make
up the total of our dealings. They give
this as the reason why you do not need as
much money as before. want to declare