New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-24
4 DISTING CISHED CONVERT

4 DISTING CISHED CONTERT
Secretary Carlisle's opening speech on the sill
yer question at Covington Ky. presumably
states his position and his arguments fully.
though in later speeches he may amplify parts
Of the reasoning. or add more definite RECON-
mendations as TO future action. 1t is remark
ably strong and creditable speech, for Mr. Car
Isle has not now TO show for the first time that
he Is powerful In debate. and In this case he has
the right and the facts SO overwhelmingly Oh his
side that he has been able 10 do full credit 10 MS
abilities. The address is dishgnred but once by
obstinate and bird partisanship, where the Sec
rotary persists that financial disasters In lS%'
were the result Of Republican action. and espe-
cially Of the Silver Purchasing law. As II the
untruth brought its own punishment. this Is the
only part OF his speech in which he is betrayed
into the weakness Of Standardization. Tor ne
afterward clearly states and completely vindi-
Gates the policy which dictated the sherman act.
The Secretary Is justified in thinking II more
important what facts and reasons he may be able
10 offer to-day than whether he was always "r
the same opinion. But he will be most bitterly
assailed, no doubt. for his Hat denial that he
ever favored free silver coinage. On the l'th OF
June 1890. just after he entered the Senate ana
had been especially honored by his party III
being selected for the Finance COMMITTEE, he
voted for the Plumb amendment. substituting
"A free-coinage bill for the measure pending, ana
he was paired in favor OF the freecoinage Dill
when IL passed the Senate later that day. he
measure thus temporarily defeated with his all
embodied the very policy which the Secretary
now declares he has always favored. namely TO
Use silver and silver notes as far as possible
without endangering the Nations credit or dinin-
ishing the purchasing power OF the currency.
1t Is well known that Mr. Carlisle and some other
Democrats voted for free silver coinage at That
time, In pursuance " a bargain with certain sill
yer Republicans In order 10 secure the defeat or
any measure preventing fraudulent elections.
Nevertheless. the vote stands. and so lar ex-
Dressed Mr. Callisles opinion az that time that
H. now says:
As long as there appeared ~ be reasonable ground
FOR the hope that silver could be raised 10 parity
OF value with gold at the ratio OF Is 10 BY the
separate action OF the United States was willing
to make the experiment. Fifteen years ex-
perlence however. demonstrated that those Of us
who believed In 1878 that larger OF silver by the
United States would enhance It's price or Vs.ue Were
mistaken Instead Of increasing the price OF silver
1t continued to fall with greater rapdiiy than before
notwithstanding all the efforts made by our Govern
ment to uphold IT, until now the bullion contained
In a silver dollar Is worth only about half as much
as the bullion contained In n gold dollar The condi-
tons have entirely changed since 1915 and do not
understand that even our free-coinage friends IN
Kentucky or elsewhere now contend that any legis-
laton by this country alone could place silver On
parity with gold at the ratio of 10 10 ]
This is not very plainly or candidly stated. but
| still amounts to au acknOwlcdgm,n that expert
| ence under the Bland bill aud under the purchas-
Ing act Of 1880 has changed the Sccretary's opin'
ion The measure which he tried 10 defeat In
1890 by voting FOR free coinage. has helped 10
| convert him and Is entitled 10 his gratitude.
1t Is significant fact that The strongest part
Of Secretary CarlIsle's speech IN lS9, t. In effect
repetition Of senator Shernan's most concu-
slve speech in 1890. when he exposed the appar-
emily deafness lie that silver coinage was stopped
| I'm 1873 by stealth or secretly Mr. Carlisle knows
the party TO which he speaks. and * presumably
aware that fact demonstrated beyond possible
question has little weight with Democratic
minds, unless IL Is demonstrated by Democrat
His services TO the country. therefore. In repeat
Ing the powerful arguments which Republican
Senators offered In 1890 against the free-coinagc
bill for which he then voted, may he found OF
special value. and he is entitled to full credit for
them even though every point he now makes
was made by Senators Sherman and Allison and
others five years ago. They showed as he now
shows. that free coinage would drive gold ont 81
Use and bring silver monomctallsm. They
showed. as he now shows that change so vIo-
lent would PROSTATE all business. force hasy
collection Of debts, involve countless bankruptcies
| and close thousands Of factories. 1t Is thing
TO be thankful for that the Secretary has at last
seen the c0ncuslvencss Of Republican arguments
and made them his own.