Pine Bluff daily graphic., 1895-12-03
WHAT DID IT?
CHEAP DOLLAR IDEA CHECKED.


 Right of Property Attacked by Silver
 ttes--Faliaeies and False Statements oi
 Silver Mine Owners Exposed.
 Various causes have been given for the rapid decline in the free silver sell timent, which less than a year ago seemed destined to sweep everything be- fore if. The masterly exposition of the fundamental principles of the currency 1 question by Secretary of the Treasury Carlisle in a series of speeches has doubtless done much to check the free coinage idea In the southern states an advance of over 60 per cent i'll the price of cotton destroyed the sole argument of cheap cotton on which the silyer1tes relied for their support by farmers and planters Throughout the whole country the educational work of sound currency clubs and similar organizations aided by the sound money press, has exposed the fallaeies and false statements through which the agents of the silver mine owners had secured a following for the cheap dollar scheme.
 These different agencies have all con- tributed to the rout of the 16 to l sil- verites, but q more potent influence than any or all of them was the recog- milton by the American people of the right of property and the hope of every citizen to be some day property own CT In the progress of the currency dis cussion it soon became evident that the free coinage agitators were really at tacking the right to hold property, and that their arguments against the gold standard and tho "creditor class were directed against the natural right ef lenders to receive back from their debt ors as much property as was loaned. The Populist papers and the speeches and pamphlets of the more rabid silver ties were filled with denunciations of capital, rich men and bankers so that the issue between gold and silver was generally dropped for the wider ques- ton of the poorer classes against the wealthy.
 Fortunately for the cause of sound money, the great majority of the people of this country own property or hope at l SOllE tlIil6 III iIiG HUH 1lAbAlO bC bJQ E'4ott erty owners. When they were asked to support a financial policy which would enable all the debtors of the country to repudiate ene-half of their obligations, thus practically taking by law half of the property of all creditors, they promptly answered No" Those who had little money loaned out to a bank | G,, Ia=s n1 xrl,f hold miums in a life or fire insurance eompa= ny or were i'll any other way creditors, saw that they could only be injured by the adoption of 50 cent dollars.
 On the other hand, those whose busi- ness was carried on by borrowed money knew that although they might be tem- porarily benefited by financial repudia tion, yet when they again wished t( borrow no one would lend, while al who look forward, as every American should, to being themselves owners 0 property were convinced that their bes interests would be served by maintain ing a currency system which recognize the rights of every man to all his pos sessions They argued that if the pres ent silyerite and Popnlist demand to the conAscation of half of the propert of creditors should be granted, it woul not be long before there would be an other socialist agitation for the contisea tion of all property. and they therefor refused to favor a scheme which threat ened to destroy all their hopes of pro' , porous future. It is for this reaso above all others that schemes of repl diation and attacks on property ownei } can never secure permanent footin in this country