Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-05-02
The SILVER QUESTION:.


The SILVER QUESTION.
8x-ssnaser Edmunds. Of yernont, Deeply
Concerned As 20 the Outcome Of the
Agftation Now I'm ProsEress-HeD Diseases
taae Matter From the standpoint OF HIS
Observation While In ConEress-Educa-
ttoa Needed.
WASHINGTON, April 26.-Ex-Senator
George +. Edmunds, of Vermont, who
Aas been in Washington for some days
ON business before the supreme court,
Is deeply concerned over the probable
results of the recent agitation in favor
-of the unlimited free coinage of silver
at the ratio of I6 to 1. He was in
Ahe senate at the time of the first
sof the recent legislation affecting
silver was enacted. and remained
q member until after the passage
of the law of 1890 known as the Sher-
man silver-purchasing act, and il
therefore familiar with the motives
and progress of it all A reporter
asked him what sentiment influenced
monetiMng silver.
THAT was very plain at the time, "
Inc answered. For many years silver,
save as a subsidiary currency. had
been practically unknown in the
United States. Without speaking by the
official figures I should say that all
told only about 100000 of silver
dollars had been coined, and at that
time not one-half nor one-quarter, of
them were in circulation. This fact,
and the tendency of the greatest manu-
featuring country in the world, En-
gland. to go to a single gold standard,
led congress to the conclusion that it
was the best thing for us to do. All
the people who are raising such a row
over the law. and who were in the con-
sgress at the time, Senator Stewart and
the rest, were in favor of it"
The law of 1s73. which demonetized
silver, changed the unit of value to a
gold dollar CO IS $40 grains.
WAS it generally understood at that
time, Mr.. Edmunds, that the law was
intended to put the United States up
-on the single gold standard in financial
-Operations7"
Certainly. All the nations with
which we did business, or most of
them, were going to the gold standard
alone and the tendency of all trade
pointed to that as the inevitable basis
of values Our fathers had started
out with the double standard,
which was all right as long as the reia-
tive value of the two metals remained
unchanged. But prior to 1878 the con-
gress had been compelled to change
the ratio twice, think, SO that there
was nothing permanent about it. At
that date silver was worth something
more than gold, upon the legal ratio Of
the two, and there was no objection
then to making the latter the standard
Of value"
-tDo you agree with Senator Allison
that the adoption of the gold standard
was a mistaken"
81 do not" answered the ex-senator
with considerable emphasis. ''The
mistake lies in the fact that we have
not stuck to it. The whole trouble
lies in the fact, which has always
existed and always will exist, that peo-
pie are in debt. If there were no
debts to pay there would never be a
o~ord said about the character of the
currency of the country. Until HUI
man nature shall have been recon-
structed there will always be the
tions at the least cost.
do you apprehend any serious re-
suits from the present agitation" was
asked
@'UaIess it be met by campaign of
Information and intelligence. many
people who do not take note of circum-
and vino do not know the history Of all
H. IL
Finding nothing to refute the asser-
lions made in the speeches and publica-
lions OF the silver propaganda, those to
whom they are addressed will conclude
that they are true. The duty of the
patriot, especially the young patriot,
d to engage in this campaign. 1t can
be conducted by means of school dis
trict meetings and by the issue Of
pAmphlets-short, crisp. printed in
: large type, loaded so as to be easily
read by lsmplight Once the people
OF the country-not the highly Guilt
waited, but the ordinary men of average
intelligence, and honest-become thor
-oaghly informed upon the subject, and
tlaese will be no danger that they will
go wrong. It is in the lack of knowl-
edge that danger lies"
'.I ann not opposed to bimetallism,
sper sc, if conducted upon the same
basis that the fathers practiced it. In
.rease the amount of silver in the dol
Ear, or decrease that in the gold dol
Ear. so that they will approximate each
other in value, and the objection will
largely disappear. But the disadvan-
staGes of that are obvious-the shifting
values would require almost continual
Legislation to keep the dollars at q
5 parity"