The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-05
THE EAGLES SILVER POSITION.

The silver question, which is now
| ayitating the papers and politicians OF
! America and of all western Europe,
! is one not of their own likeing or seek
! ing but one which Sprang from the
great body of the people. 1t is not
one involving any vital basic or fun
damental principle Of personal free
dom. or OF government, but solely and
simply one of economical policy. 1t
| is one which does not necessarily az
feet individual political convictions in
4 party sense. AS there are free trade
Republicans and protection Democrats,
so are found advocates of silver in all
parties. These suggestions are prompt
ed by the fact of a disposition in some
quarters to question the Republican
soundness of the Eagle.
1t will be found simply a waste OF
wind upon the part OF any selt-con-
stitued critic Of the Eagle to attempt
to force its editor into any position
not voluntarily occupied by him, much
less in the discussion of the currency
question to show that he is an advo-
cate or believer in fiat money. Silver
money is not soft or a fiat value.
1t is just as hard, as immutable and as
stable as gold. 1t is precious metal
which no oyerprOduction can ever de
base. Just as surely will the silver
unit carry its stamped face value with
in itself as does the gold dollar. While
we do not expect nor desire to see
silver and gold the entire and only
circulating mediums Of the country,
we would have all gold and silver
certificates, backed by actual deposits
of coin or bullion, and in such a per
cent as business experience has proved
safe. All greenback notes and national
bank notes, of a small denomination,
based on bonds, should be retired,
and we are convinced that 1t would
be sound policy to prohibit the print
ing of even silver or gold certificates
under five dollars. With our paper
money limited as above indicated and
silver restored, there is little appre-
hension upon our part that the old
ratio would be found far wrong. But
we are simply opposed to a single gold
standard For the world of men, and
for their business and industrial in
terests, silver standard would work
more justly and equitably, be less sub
ject to hurtful fiuctuation and appre-
citation through corners, than gold. An
approaching dollar or a money that
can be cornered must necessarily prove
a dishonet dollar. What the Eagle is
demanding, however, is a combined
standard Of silver and of gold, which
two precious metals, before silver was
demonetized, automatically regulated
all other values and adjusted them
selves, as primary monies, to each
other, and to all other values.
1t being a self-evident fact that an
ounce Of silver will purchase as much
Of cotton, corn, iron, bread or Of labor,
or Of anything else, save gold, as it
ever would, there remains no authority
for the eternally reiterated declaration
Of the gold-bugs that silver has de-
preciated in value, either as a COM
mercial unit or as precious metal.
The present market price OF silver,
under characterization, is no criterion
whatever of its ratio value. The eX-
perience of centuries has been that
under like treatment, privileges and
protection with gold, silver was found
to maintain q comparative value Of
about 16 to /, and the test Of actual
experience is worth world of theories.
and of added logical conclusions drawn
from premises of interested asSump-
tons.
The Eagle with one of its talons on
gold and the other claw on silver has
no farther financial desire other than
to get its beak full of promises to
pay" of either.