New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-14
SECRETARY CARLISLE'S Defence.


Secretary Carlise's experience in Kentucky
and at the Memphis convention Will In all PROB
ability entitlc him 10 much sympathy. He Is
going back to people who have known ana en-
Enthusiastically supported him for many years as
a Jealous champion of free silver coinage Ih'y
do not need to he reminded Of his speeches ana
votes on that side while he was In the House. nor
have they forgotten that lie was one of the iwcii-
tv-nine Democrats IN the Senate who voted III
June 1890 for free and unlimited silver coinage
ONLY three Democratic Senators voting against
IT, 1t was the passage of that measure by me
Senate which forced upon the Conference COM
mittce the compromise afterward known. ana
by President Cleveland and Secretary Carlisle
denounced. as the Sherman Silver Purchasing
act But Mr.. Carlisle now goes back as the
mouthpiece Of the President TO oppose free
coinage II Is not strange that he is already
served with notice that he will be confronted at
every point with his own speeches and votes.
Consistency is silly when valid ground exists
for a change Of opinion. The man whom new
facts cannot lead to a modification OF his con-
cusion can hardly be said 10 have any intelligent
opinion whatever II Secretary Carlisle has the
manliness to state without reserve the results
NJ expericnce under the Silver Purchasing act OF
1900 he will offer strong and valid reasons for
believing that coinage Of silver by the United
States alone cannot do any good. lie Vo''n
AGAINST ,hc passage Of that act because II was
offered rs a Republican compromise. But that
does moi shut out "A candid man from making the
best Use Of the evidence which experience under
that act presented lie had believed prior to
that time as hc had declared and voted. that
free coinage would restore the price Of silver by
creating a market for the whole Of the American
| product. but he would be false to his own intel
lect. he might tell his friends OF Kentucky ana
Tennessee. II he did not recognize the fact that
experience has proved his mistake
In three wears under the act of July u. 1890
the Treasury bought l5G.7j7 O2i fine ounces Of
silver The official accounts prior 10 III" passage
Of the act Of 1890 showed u production not cx-
ccallng iA.UOOW fine ounces yearly. Of whlch
over 5,OVO,O ounces yearly according TO o'Ilcal
estimates then aud since. are required Tor use III
the arts 80 tina, less than i9,OW.OOO ounces was
left for monetary use from III" production ~ the
time the act was passed. The actual purchases
therefore, exceeded by nearly 1O"u"~ ounces
the entire production as officially estimated. Jess
| the consumption In the arts. and. moreover lirg"
quantities Of silver were also exported ana yet
the price of silver did not rise. but fell lower
than ever. The obvious reason Is that the net
itself the assurance If a market for all ihe silver
produced stimulated increased production OF sill
yer exactly as free coinage must have done. The
worlds output Is ly The Mint officially reported
as having increased from l2G,H1WD ounces 10
| 161 77G 600 ounces in the three years.
Now Secretary Carlisle, rs Il thoroughly candid
man faithful TO his own intellect, must tell his
Democratic friends that II has been demonstrated
before the whole world by the operation Of the
Republican act Of 1890 that silver cannot he
raised 10 its parity with gold by taking for none
! tary use even the entire product OF American
mines. He did not vote for the experiment. but
Republicans insisted upon trying II. ana thus.
wIthou, the tremendous CONFUSION and irrcpa-
rabIe consequences which free coinage by this
country alone would have involved. they succeed
cd in demonstrating 10 the world that II could DO
| no real good TO mine-Owncrs to take their whole
product for monetary use by free coinage nor
could II give stability TO the value OF silver. be-
cause the production would Indefinitely Increase,
so that the value or purchasing power Of the silver
dollar would fall and gold must thus be driven
out Of circulation. This Is the one SUFFICIENT re'i-
son for Secretary Carlise's change OF opinion.
II he manfully gives that reason. ilnaurcd par
| tsans will doubtless still accuse him OF twisting
| his views at the dicatiOn Of the President. but
his conclusive proof that his former opinion was
erroneous will give him abundant vindication.