The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-05-25

mcrciai ratio Ia the markets OF tho world.
When the act Of 1873 was passed our legal po-
sition was bi'nctallic. but our actual measure
OF value was gold. and our actual circulating
medium was paper. with a purchasing power
measured BY the gold standard
III the United States could coin without
charge 20 the owners all the silver In the
world available for coinage purposes, fi2h
grains OF standard silver as bullion would be
worth rs much In this country as q silver dol
lar but what would the silver dollar itself be
WORTH Everywhere the people are being
told that under free coinage Il will require
twice as many dollars 70 procure any given
quantity Of commodities as are required now.
which means that the money would be only
half as valuable as now, Mr.. Carlisle docs not
believe the people OF the United States want
deprecated dollar, whether 10 be gold. silver
or paper. and dcniesthnt those VINO are
opposing free coinngo pt tho ratio OF 10 20
I propose any change In the present stand-
ard OF value or 10 discontinue the use Of sill
yer rs money He holds thnt the only way 10
secure the use OF bosh gold and silver az the
same time Is 20 make one OF them the stand
ard OF value. and 50 limit the coinage OF the
other that the government which issues them
and receives them for public dues may at all
times be able 20 maintain their cxchnngen-
bility What the free silverites demand would
result In practical silver monometallism-
The speaker showed how this would con-
tract tho currency by the immediate with
drnwal Of s62500oOoo OF gold from clrcula-
tisn. that this contraction would reduce prices.
destroy credit aud produce the most serious
financial disturbance the country ever hns
Witnessed that tho men who give employ
ment 10 labor would be banlkrupted az once.
and nobody be benefited except the owners o.
silver. the brokers and spectators, while IL
would require more than fifteen years to put
silver dollars In place OF the gold we now have
nj ii a ~ 4 a a. tua arf
OF metallic money now existing The effect
on domestic trade would be depiorablo and the
farmers must be among the worst sufferers,
lie said IL il not true that our people owe any
debts contracted as far back as 1879, aud II
some OF the great corporations do their bonds
issued before that date have all been refunded
at low rates OF interest
Mr. Carlisle said IL was folly TO suppose that
the purchasing power or dime would be in
creased By calling IL dollar, or that the
worklngman would be benefited by reducing
the buying power OF the dollars paid him for
his toll He said his opposition to free coin
age Is not dictated by enmity 10 silver, and u
silver we're our standard to-day, with gold de-
preclated he would oppose change 10 the
gold standard. ''1'ne preservation OF the
isting monetary unit and measure OF value
upon which the contracts OF the people and
the wages OF labor have been adjusted Is the
vital thing involved In this controversy" AS
long as there appeared TO be reasonable
ground for the hope that silver could be raised
20 parity with gold at the ratio OF 10 TO
by tho separate action OF the United States
he was willing to make the experiment but
never was willing TO make IL by legislation
providing for the free and unlimited coinage
OF silver at that or any other ratio. When he
made his speech In congress on that subject
seventeen years ago silver was only at about
7per cent discount: but flfteen years expert
ence has demonstrated that those OF US who
boif In haf n lar tsoa Of ell f.xr
the United States would enhance it's price or.
value were mistaken.
New YORK, May 2a.--United States
Senator Thomas ii. Carter, of Montana,
is at the Imperial hotel with his wife
and daughter. He was asked TO ex-
press his views on national questions.
more especially concerning the curren-
cy. He hesitated for n minute and
then said:
Tho Issue presented by the financial ques-
tion Is the only one upon which the republican
party Is 10 meet with any dificulty. II this
financial question were eliminated republican
success would be an absolute certainty in
1896
"In the states west OF the Mississippi river
over sixty electoral votes. which are material
" republican, win be doubtful until the ma
tional convention meets and adopts its plat
form. and II that platform is not satisfactory
on the question OF Dimetallism the doubt will
be resolved against the party.
ut Is useless TO attempt 70 evade or conceal
the fact that the sentiment OF the country az
largo in favor OF the rehabilitation OF silver
has become irropresslble. The people OF the
west arc as firmly devoted TO honest money
Us the people OF the east can possibly be.
Tho difference between the contending ele-
ments arises from confused notions as 10 what
constitutes an honest dollar The west is con-
stantly approaching In purchasing power,
whereas tho borrower IS anxious TO maintain
the conditions under which the coin or cur
rency Of the country will not appreciate be.
tween the increasing OF the indebtedness and
the date of tho payment
The people have been In the habit OF ruling
their country aud they are likely 70 continue
20 do so In the future, and IL so happens that
the stand taken by the common people OF the
United States in favor OF the restoration OF
silver IN ably supported by many OF the most
enlightened statesmen OF Germany England
Franco. and, indeed. every civilized country IN
Chrstundom
BERLIN, May 23.-The bimetallic res.
olution which recently passed tho
upper house of the Prussian diet, was
carried in the lower house Tuesday by
a large majority. A centrist amend.
ment proposing to omit the words
with the ultimate object of securing
int irrational bimetallism," was re.
jected by vote of 1877 to %.