The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-05-01
BLACKBURN ON M'CREARY.
The Senator Declares the Repre-.
sentative is Trying to Strad-
die the Currency Cues
ton.

day. A representative Of the Courier
Journal called at the residence of Sena-
tor Blackburn this evening with view
of obtaining his opinion on the subject.
The Senator was in genial humor and
the est of spirits, and talked quite free
ly about the interview and the silver
question in general.
senator, you have seen the Courier
journals interview with Gov. McCreary,
of course how does it impress you 2"
the correspondent asked.
81 find McCrearys interview" the
Senator said, "just what expected. 1t
was heroic effort to be on both sides of
the question at the same time He files
that affidavit for a continuance that
expected, and protested against in my
interview of the Goth. This interview
proves him to be a bimetallist, provided
you use but one metal He wants both
gold and silver upon condition that sill
yer is never TO be remonetized until the
other nations OF the earth agree to it,
which he knows will never happen. He
clings with a martyrs faith to the effic-
acy of an international conference, al
though the one to which the last Repub-
lican President appointed him a dele
gate, like its predecessors, did nothing
but gable, draw their allowances, go
sightseeing over Europe and then come
home to ask their respective Govern
ments to try the farce again.
"Some of his statements are both
novel and interesting. He says no ma.
ton was ever able to maintain the par
ity between these two metals whilst on
bimetallic basis. In this he states one
thing, whilst history proves the other.
History shows just the contrary OF his
averment. We always were on a BIZ
metallic standard up to 1873, when silver
was assassinated by the hoarders of gold,
and during all those years the parity be-
tween the two metals was maintained
with us. So it was with Germany until
she followed our example and demone-
tized silver in the latter part Of the same
year. The Latin Union, composed of
five European nations, was on bimetal-
lie basis on a ratio of l54 to 1. The par
ity OF the two metals was always main
tanned there until silver was demone-
TIED some years after like action had
been taken by the United States and
Germany.
ale also claims that the depreciation
of silver is due to two cause.-the over
production of the metal for the last
twenty-five years and the suspension Of
its coinage by the nations. The latter
of these two propositions is true, the
first is not. In the first place, there
never has been and is not now any de-
probation in silver. Measured by any
product of human industry except one
(gold), an ounce Of silver is worth as
much to-day as it ever was in the worlds
history. 1t is a misuse OF terms to say
that silver has deprecated or fallen in
value. The correct and fair way to state
the proposition is to say that gold has
appreciated or risen in value.
"As to the oveIproduction which he
assigns as the cause, the facts show that
there is no truth in this. Prior TO TWEEN
ty-fve years ago there were thirty-four
tons of silver to one OF gold. To-day
there are but eighteen tonssof silver to
one of gold, so on this point his own bat
teries are turned against him.
"The second cause that he assigns for
what he terms the depreciation of silver
is true one and the only cause, namely,
the closing of the minis against it and
the discontinuance Of its coinage. This
proves all that the friends of that metal
claim, namely, that arbitrary legislation
is alone responsible.
"Gov. McCreary seems unable to I'M
derstand why the Mexican silver dollar
should only be worth half as much as
our own. Perhaps he might find an ex-
PLANTATION in the fact that there is more
confidence reposed in the national prom
Use that stands behind our dollar than
the promise upon which the Mexican
dollar rests. II this be true, it only
proves the value that attaches to the
stamp (the pledge a Government gives
which government puts on its money.
"If the Governor would press his in
vestigaiions little further he would
find that neither gold nor silver nor any
other material when treated or used as
money has or can have any intrinsic
value. Inside the mechanical realm,
these metals both have intrinsic value,
but when taken out and adapted for the
purpose of a function which we call
money their intrinsic value disappears
utterly and the only value that attaches
is that which is measured by the public
confidence reposed in the ability and the
Of purpose Of the Government
that issues them.
whether the Governor meant to be
ironieal or not, there is certainly good
deal Of originality to be found in his as
sertion that the banks, the insurance
companies, the savings institutions, the
railroads and other corporations consti-
tute the debtor class OF our people,
whilst the people are tho creditor class.
This will he good news 10 the farmar