The Van Buren press., 1895-07-06
sEsAIoKtYHr
Gircs a Clear and Striking Statement
Of His Views on the Currency
Question.
Special 70 the Post Dispatch.

Special 70 the Post Dispatch
SWEET SPRINGS, No.. June 2J.-
Senator Vest is stopping at his cottage
near this place. He was seen today by
a Post Dispatch representative and
consented To give an interview on the
money question in its relation to the
country as whole and especially TO
Missouri. He said:
There must be settlement Of the
silver question without equivocation.
We must determine To adopt the gold
standard permanently, retire the green
backs and perpetuate the National
banks with their paper based exclusive
ly on gold. or We must open our mints
to silver.
II fully appreciate the gravity of the
consequences which will come from the
free coinage of silver. The money
power Of the world is against silver as
standard money. and it will be dis
credited in every way possible. The
threat is constantly made that free
coinage will bring this country to an
exclusively silver basis and that gold
will disappear. 1t is said by the
prophets of evil that all our indebted
ness held by foreigners will be sent here
for payment and that no more foreign
capital will be loaned in the United
States.
IAN this sounds badly, but hardly
think the consequences are quite so
deplorable as represented. In the first
place, the financial servituie which now
exists on the part of the United States to
foreigners should cease Nothing could
be more degrading than present
conditions. The frs. inquiry each
morning in Wall Street Is as to prices in
England, and we are paying more than
80, 100, 900 TO a foreign syndicate to
protect the gold reserve In the Treasury.
When the contract of this syndicate is
terminated, in October, we must pay
another bonus, and so on, indefinitely.
Mr.. Carlisle tells us that this situation
is being seriously considered by the
Cabinet, but his only remedy is to
retire the $346, O0O, 900 of greenbacks,
sell more bonds for gold and refuse
now in the Treasury.
1.-The President will not agree to the
coinage Of another silver dollar, but
insists that the money volume must be
diminished $348, 900 900 by retiring the
greenbacks, and that Congress shall
authorize the issue of gold bonds in
order to maintain the single gold
standard. As l said in the Senate, we
have come to the parting Of the ways,
and must take one road or the other.
We must again declare our independence
or allow England to control this
country.
ssAs to the threat that gold will leave
us, I have only to say that even if it
did, would prefer that contingency to
present conditions. l believe in real
bimetallism, the use of both gold and
silver as standard money, but If we
must have one metal or the other,
would take silver, for we would then at
least be independent instead Of being
the tail of the English kite, and the
helpless victim of the Rothehilds
syndicate Ninety six per cent of our
whole commerce is at home, and that
would continue even on silver basis.
II do not believe, however, that gold
will leave this country. Gold will come
to any people who produce a surplus OF
the necessaries of life. There is nc
sentiment In finance nor commerce.
The legal tender money Of every country
is worth everywhere what that
country's surplus of necessaries is
T, worth. England buys from us what
she must have, and must pay us what
we demand, either gold or silver OF
commodities. If the balance of trade
is In our favor we can demand gold
and it must be paid.
when we abandoned the single gold
standard in 1878, and enacted the Bland
Allison law, we were told that gold
would at once leave this country and
that under the Gresham rule it would
disappear. Mr.. Sherman declared that
the coinage of silver would expel gold al
certainly as the operation Of the
planetary system. What is the record
lin 1878 when silver coinage was
resumed the Treasury had $l2S, AGO, 20s
in gold. In 1890 when the law was
repealed, the gold in the Treasury had
increased to 1921, ,812, 424. The explain
alton is found in the fact that from 1875
to 1890, with the exception of 1888 and
1889, the balance of trade was in oul
favor, and was paid in gold.