The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1895-08-12
just Before the Convention.

his Atlanta paper. Al that time Ii was
| emphasized that he wrote all of the
/ financial editorials appearing In his pa
/ per. and he seemed To be so well pleased
with them that he wanted his author
ship generally known. Mr.. Smith was
| not an infant at the time and il anybody
| had told him that he would have plead
tho baby act' on any of his efforts dur
INK these TWO fruitful years he would
have been justly indignant.
Bat Mr. Smith WAS two years older in
! 1872 than he was I'm 1890, when he wrote
| his famous free coinage letter, and so
earnestly favored an expansion OF the
currency that he wanted the government
10 issue dollars rcdcemable in hickory
nuts. buckeyes, wheat, cotton and other
non-pcrisha5le products.
Mr.. Cleveland was nominated FOR the
presidential term which he is now fill
| Ing ia 1872. The campaign for his nom
ination was inaugurated in 1891 and at
| the beginning of the following year 1t
was In full blast At that time Mr..
Smith was earnestly advocating the
nomination Of Mr. Cleveland and was
doinS his utmost to secure a Cleveland
delegation from Georgia. Naturally Mr..
Clevcland's currency views stood in the
way. but Mr.. Smith disposed Of that
with wave of his hand and announced
i'm behalf Of Mr.. Cleveland that he was
rs much in favor of silver as anybody
could desire. and To SubStantiate it Mr.
Saith pointed 10 his own record-that
az MIR. Smith as proprietor of The Jour
nal as evidence of the fact that as Il
silver man h. could speak for Mr. Cleve-
land.
on The 10Th OF February, 1892 we
clip from The files Of The Weekly Jour
nal. as reproduced from the daiy-Mr.
IIokc Smith wrote Il douhle-leadcd cdi-
toriaI declaring that the people of Gcor-
gia were Tor Cleveland. and he pub
i.Shcd a poll made 10y the correspondents
Of his paper, who interviewed 1,2;D
prominent democrats in all parts of the
state IS 20 tncir presidential preference"
Aud il was announced that of the num-
her $40 wanted Grover Cleveland nom
mated" and The editorial houyantly con
c.uded that cleveland is the choice by
H'f" tlth . 10 oNti any o'hVi ''hui
date"
Jus, after this editorial appeared an
Other one on the currency Smith
sandwlched his support of MIR. Clcye-
land ny free coinage and currency cx-
p1usion promises. Remember this was
- late as 1892 Just 4 year before Mr..
Smith WAS taken mp Oh the mountain
arI received new inspiration.
an tho i6ih OF February of 1892. ana
H., under tLe editorial above referrci
to. Mr.. smith wrote as follows on the
currency. and In order that II cannot
d. said tis3i "" have garblcd his views
a> tncn Expressed. We reproduce his ed
itCrial verbatim e. li.eratim. as follows:
"a Dr-re~inted Currency.
Advocates 90 silver coinage make a great
niStake when they accept the argument
~ their opponents that free or larger silV, r
coinage would dcnrcciate the CURE ncy. and
reto~t that this would not bo detrimental.
This admission and :etort were made by a
3ig. Rhouc. of Pcunsy lvauia, I'm an arcu-
Weut Dr. fore the house committee on coin
aAe. ou Monday. lie Is reported as'saying:
Them Wac no time when the farmer Jared
- well AS III lAfi. when tHere was q de-
prec.4tcd currency"
Tlie conditions OF 1865 are not at all Ike
free silver coinage. II was not silver that
has at a discount I'm 1850. nor diI the album
dance Of silver at that time cause the de-
probation Of any other currency. ON the
contrary. silver WAS at par with gold and
commanded a large premium over green
DacAs- wr think as much as 100 per cent.
II was not until 1873 that the governments
SrernnacEs rose to par with silver. The
uepreri2iion OF the paper currency then
Was due 40 IA" heavy bonded Indebtedness
OF the government and to its securing all
the gold ia the country and apprOpriatng
Il 10 pay interest 10 the favored bondholi-
ers.
We DO not know the condition Of the
farmers of Pennsylvania at that time But
y they were exceptionally prosperous it
was due To conditions created by the war,
affecting supply and demand, not to The
value OF the currency. So far as the south
ern states were concerned. it was a time
the very remembrance of which causes a
shuIdcr.
Tho credit of the government or tina suf-
ncicncy OF its revenues 10 meet its obliSa-
tions and expenses, is what affects the
value Of IT'S curr, ncy Its pledge OF recogui-
tion VIII maintain the par value OF its sill
Yer coin as well as lis paper issues II
X could ina 1919, with a bonded indebtedness
greatly !arser than the present, and with
an interest account requiring twice as
much gold as NJ present, bring up its
Il not reasonable 10 infer that it could
now maintain tDy its Tat. if you wild a
larger No..ne OF silver coin at par?
Il is faiiacious 10 suppose that a dcpre-
ciatei currency is benefit to poor men,
or - working men of any condition. 1t
Chords golden harvest" for the spocu-
l2tor ana money shaver ana thuy would
90 all that thcy could 10 brius about de-
rreciation whenever the opportunity pre-
aenteJ- This is the class against whose
operations tine government would have to
guard Ia increasing the currency Of any
kind.
Tho supporters of a large silver coinage
only inJHc their own cause by accepting
tire argument that il would facilitate "A de
prec.a;ion of the currency, and that that
would be q desirable condition for any de-
serving interest OF industry OF the county.
journal, February 10. 1872.
~ reproduce tnis Tor The purpose Of
commanding il 10 our readers as an
opinion rs true today as ii was when it
was written. our people want no de-
precia'cd currency" now any more than
they did then. and Mr.. Smith has con
c.uSiycly demonstrated the fact that the
restoration of silver as standard