The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1895-05-13

nately drive each other into exile from one
country to another. Our ratio as recog-
nized by the present BILL is 1898 TO |, while
the ratio established by the states compos-
ing the Latin union-France, Belgium, swift
zerland. Italy-and l believe, Greece, also,
is 10 TO l. We therefore undervalue silver
as compared with the valuation put on 1t
by those countries. Silver is now appreciat-
ing in the market and its reconciliation
and restoration to the coinage by this coun-
try will undoubtedly accelerate its appre-
citation i'm the future. What then VIII nap
pen? Whenever the market value Di the
metal becomes greater than the legal Nalue
fixed by our statute we will witness precise
ly the same thing that occurred under the
operation of the act of 1S37-silver VIII
leave the country and go where 1T is justly
and equally valued by law. Like every
other article, If left free to follow the nat
ural laws Of trade, it will always md the
best market.
Austria and Russia, both single silver
standard countries, have suspended specie
payments and are using a paper currency
exclusively. Unless the war in Europe ana
Asia should be reopened and prolonged be.
yond our present expectations, it is rea-
sonable to suppose that these two great
countries will soon resume the payment
OF silver and thus create new and large
demand for that metal. This, if 1T should
occur, viii still further appreciate it's value
and still more increase our danger of los
ing II unless we can have some under
standing and concert of action with the
nations of Europe. There is no danger, in
my opinion, that any conference upon this
subject Will result in a recommendation
to increase the quantity of silver in Il dol
lar because we now have more than the
principal states with which the conference
is TO be held; and as to the fear expressed
by some, that this is simply a new move
ment in the interest of characterization, l
think an examination of the proposed
amendment will show it to be entirely
groundless. The president will have no
authority 10 invite a conference for any
such purpose. and the commissioners ap
pointed by him will have no right to con
slider or report upon any such question.
"The amendment itself states the object
of The proposed conference as plainly as it
can be done. 1t is TO adopt a common
ratio between gold and silver for the pur
pose of establishing internationally the use
of bimc tallic money Not a single stand
ard of either gold or silver, but double
standard as we had in this country from
1872 TO 1874 and will have again when
this bill becomes a law. The amendment
then provides for the meeting of the con-
ference within six months for a report TO
the president and its transmission to con-
gress and for the compensation of the
commissioners.
England having demonetized silver in
1916 and having steadily adhered TO the
single gold standard ever since, cannot
properly have any representation or voice
in the proposed conference unless she is
prepared 10 consider the propriety of re-
storing to silver coin its money function
throughout the British empire, but the
states of the Latin union which the presl-
dent is specially directed 10 invite are
deeply Interested in the questions to be
considered, ana | therefore think there Is
reason TO hope that some wise and prac-
teal measures may be proposed looking 10
the permanent adjustment OF the relative
legal values of sold and silver upon a
basis that will be just and equitable TO
debtors and creditors alike. 1T seems 10
me now, Notwithstanding the present tenn
pOrary depreciation of silver, that the most
probable result of the proposed conference
VIII lie the recommendation Of smal
d'mnutiCn Of the quantity Of silver IN our
dollar and a small increase OF the quantity
in the tYe-frauc piece, ana tnat the Couh-
tries using the two coins may stand here-
to this subject.
Il have now stated hurriedly my views
of the amendments proposed by the SEN
ate SO far as they have made material al
terations in the original bill, and l desire
To add only that, while the measure in its
present form is not what the country had a
right to expect, it is infinitely better than
anything the people have ever been able
To- obtain at the hands of congress during
the last fifteen years. 1t was the first
victory won by the people during many
weary years of warfare with the CONSOLE
dated wealth of this and other countries,
ana although it * not by any means a
complete triumph, ii marks the beginning OF
a new ana more popular era in national
legislation. Il attestS a mighty revolution
in public sentiment as represented mere at
the capital and it places the great indus
trial and producing masses OF the people in
the front and the nonprOduCers IN the rear.
For fifteen years the people have been on
che defensive, and although fortified by the
plaiUcSt PROVISIONS OF law ana the clearCst
principles of equity, they have Decn con-
Jinuaiy driven from one position TO anOth-
er until they stood at last upon the very
verge of financial ruin. Gathering all their
energies for this struggle they have adj
NanCcG, NOT very far II is true but they
of the ground lost in the previous con-
hicts. and j trust that their representatives
viii faithfully hold II for them.
oar power of legislation over this sub
ieCt viii not be exhausted by the passage
OF this measure and we ought not to matt
for single moment in our efforts to COM
plcte the work of relief inaugurated by IL.
The struggle now going on cannot cease.
trial interests of the country are fully and
finally emanCipatcd from the heartleSS
dominati ton of SyndicatcS, stock exchanges
and other great combinations Of money
era hbeTS in this country and Europe. Let
as, If We can DO no better, pass bill after
tial provision for relief, and send them TO
the executive for his approval. If he with !
hold his signature, and we are unable to
secure the necessary vote here or elsewhere
TO enact them into laws. Notwithstanding
his veto. let us, last resort, suspend
the rules and out them into the general APP
preparation hill with the distinct under
standing thac II the people can get no relief