The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1895-05-18
THE MANIA SUBSIDING.

THE MANIA SUBSIDING.
The excitement about the unlimited
coinage of silver is rapidly dying down.
and very likely by the time the cam
paign opens next year it, with other
wild notions. will be confined to the
Popnlist organization. 1t was first
caused by the silver mine owners in
the different states, who attempted in
this manner to create an artificial mar
ket for their bullion at a higher price
than was prevailing in other countries,
and by means Of "boom" to direct
public opinion in direction that
would largely increase the value of
their mining property. Subservient
congressman introduced bills into the
national legislature for this purpose;
but the cool judgment of the leaders
OF both parties Immediately descerned
the fallacy of the measures, land they met
deserved defeat. Then campaign
was begun among the masses, and they
were told by demagogues that all the
ills they had suffered could be traced to
the decentralization of silver in 1873,
which was as false as false could be-.
The people became excited for while,
and free-silver clubs were formed all
over the land; but the enthusiasm is
cooling, and men are consulting their
Judgment in the matter. This return
to reason is noticeable in every part of
the union, and especially in the south.
The question is local issue in Nevada,
Idaho, and Montana, and is popular
simply because silver is the largest ex-
port in these states. Those who adv o.
Gated the unlimited coinage do so on
the same principle that any community
supports it's ov local interests: and
they never give thought to the conse-
quences of making it national policy.
In the south there has been almost a
complete reaction in favor of honest
bimetallism on the gold standard, and
the silver fallacy has only meagre
following. The press of that portion
of the country use very plain language
in discussing the question, and the fol-
lowing excerpt is from that stannch
old Democratic journal, the Louisville
Coe1fer,Jou7nal, Henry Watterson's
paper:
Nobody in the United States is pro-
posing to demonetize silver. Nearly
half our coin is silver, and the constant
aim of the United States has been not
to demonetize it, but to keep it as good
as our gold coin and better, as it has
kept it, than the silver of any free
silver country on earth"
There is no doubt that the Courier
journal has been the leading Dem
ocratic paper in Kentucky, Ten
nessee and other southern states for
over thirty years, and when it voices
its sentiments against the silver mania
it will have large number of follow
ers. Then from Georgia comes words
Of no uncertain meaning, as the follow
ing from the Savannah Ne,rs:
SIN 1873 there were no silver dollars
in circulation. At present there are
over six hundred millions of them and
silver certificates, and they, circulate
on parity with gold dollars. Doesn't
this look as if silver had been given
pretty fair showing?"
This shows the trend of public
opinion in the south, and In the north,
outside of few silver-producing
states, there has never been any pre-
ponderating popular sentiment In
favor of the deprecated metal. The
United States could not have better
coinage system than the one now pre-
vailing, and men who have studied
this subject north and south, east and
west. know that any change would re
suit disastrously. Democrats and Re-
publicans have the welfare .-of the
country at heart, although they advo-
cate different policies, and the leading
men of both organizations will not
countenance the departure from safe
and tried systems of finance.
But the free silver sun has passed
the zenith and is rapidly declining;
and in little while this craze will
be numbered with others that have
excited the people for time. Soon
after the financial cricis in 1873 there
was a demand for mUre greenbacks;
but business soon revived, and the
party that advocated an increase in
the paper currency went down to a
grave. After the election
in 1892 general depression in trade
took place, and desperate men looked
around for any remedy. The free
silver craze sprang into existence, ran
its course for time, and now is rap
idly sinking into a condition where it
will remain.