The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1895-08-03

legal tender it VIII be exporter. and deminrsh
In most inconvenient way the whole amount
OF specie-e diminution which. In that case,
cannot & be sensdiea I, @ By ny rsssSsng Ss the other
monetizing silver, Mr.. Gsllatln says:
ment. In the face Of the universal experience
OF mankind, gratuitously subjected herself to
actual inconvenience for the sake Of adhering
has dspsrtei ! more widely from known princi-
pies ani from those waieh re!ulats sound
metallic currency, Whilst pretending TO ex-
clude silver, she admits 1t. and makes IL Q le-
gal tender for all that multitude Of daily pur-
chases and contracts uldcr " shillings, at an
good il could not bs conveniently adopted in
the Unltel states To tho exclusion Of silver
there are great objections. The American
of money aud standard OF value on which all
public and private contracts are founded
The great bene1t III At We contend for bimet-
CT 'ge Of both metals the people have the
rig % choose between ths two; and should
one the other. for any Gauss become the
mos. abundant or cheaper metal. they havo
the right TO use the cheaper metal This de-
mand Itself will have tne effect OF maintaining
ITS value and su u,porttng the parity. This fact
WAS recognized end astei upon By the demo-
cratic party for over Ell ishty years. this prin-
ciple WAS maintAinee la our laws during all
why silver Was Dsmonstixsd.
Will Mr.. Carlisle. or Mr.. Sherman. or any
Of the single gold standard advocates 1t this
hitting III. fee coinage OF silver in 1919 were
repealed. They content the Law was repealed
because we were not cointny silver. In the
tng to our mints to be coined into silver dollars
i57s. In $50 We coined .ssss Of full legal ten
der silver doll ,rs In ~ 1 We coined 81 90
standard silver dollars In 1877 we coined l.li2.-
yei standard silver dollars In the months OF
January and February; is'!; We eoi.ea s.',iao
moaetixed oa the twelfth day of February.
Is53. and during that month aud st the time Il
coming STANDARD silver dollars. In my opin-
ion. the fact that silver was again coming to
our mints to be camel into fun legal tender
money was the probable caus, Of the passage
of the act Of 1871 stopping lite coinage.
II does not answer our question for Mr.. Car
isle end Mr.. sherman to say that the Law way
asour miuts. Certainly IL the Law Itself author
izing the free coinage Of silver was not oper-
was operative. and silver. Is shown by the
record. was coming to our mtnts for coinage
the repeal Of the law must have had . purpose.
That purpose could have boen none other than
standard. All the special pieadings Of men en-
Convince the people Of this country that there
| was no sinister purpose involved In It
Ths rsstorstios q the bimetallic system. in
| our money and monetary standard. but will re.
store cou0dsnoe also Of more Important
character: that Is, confidence that property
prostate: that labor and the products Of labor
| will maintain its value. In other words, that
s s.sS % o so
ard; or, st least. sdmittsd BY ststisticians like
Saurbeck and others. who are the best author
The character q confidence this country re-
Quires Is not that conndence taught by the
single gold standard people Il Is well enough
| are the consumers Of the peoples taxes. to In
sist that they shall have confidence: that the
sSs s.nes a arc shah be Of
such conndsncs ss that is discouragIns 70 the
dollar Is constantly spprecisting in value. o.
commodities are depreciattns IN value there
Is no encouragement 70 productive enterprise;
derssSins the result Of which SIX months ol
one year hence will be that his products from
such undartakins viii os lover than they ars
On the contrary. The industrial people OF thi'
country--the producing masses-want con
sure them that when they borrow money ol
expend their own capital In farming, manu-
featuring mining or any productive Industry
worth - much or more stx months hence thar
to-day; conAdsncs that what they produce vii
be remun erattvs and not coanscsted By . con
a Visty-Csss Dollar.
Mr.. Carlisle. In his speeches. has laid dow
the broad proposition that the free coinage o
silver would give Us . dollar worth only b
that the restoration Of silver would cause |
contraction OF currency and fall In pricss- /
now are You'd mean sss. shs dos
would buy more than the dollar now buys. I
Hs would explain how sO-cent dollar can bul
more than loo-oeat dollar he will make him
| calf bott0r und0ratOOd
The ,ass e saseR money and i.,,ias price
Isle himself A cheap dollar means that
viii buy less OF propsrty. He argues that tn
eject Of free coinage would cause the export o
our gold to foreiga countries. Taking thts y
true. IL would not happen until there hs'
bssn safaclent supply Of other money 70 TAX
ss psse Q. sns S sSd 20 sof me s Sse
than sbros until We hsd supplied Its plsc
with other money 70 keep up the prices here .
compared TO prices ABROAD
But what would BE- ths eject Of sendins ou
gold abroads Il would gQ into the gold stand
ard countries -Englshd. Germany snd France
IL would swell the volume of money IN tn os
snaa :nosas No sas ~ss would "a
t3o).o0o.00) to the volume Of money OF thos'
countries where We sell our surplus products
psadpsars Of food sad textiles export thei
suTpJA these countries nd II o8O 900 900 Q
these soansTiss ss !, Would prOpors:cn.ssiy ] rails
prices N those countries. and ssnee ally tn
priees Of those tAess tAtnss ws export ana sal
the 'i nanuSsesursr sal hose who produc
per ~ cent. N more Soid for tSeii so@moii,ies tina
Hale himself admits that the prices OF our ez
port products In foreign countries tend Z
steady ne pst:ss nsss We sSs d once sss w
sriss % which Ne export them. they woul
ona sp n g s sSsas
triss Of their gold. ws must iook for low price
In thia country, snd In the countries 70 whic
drain from Ensisnd Germany and France a
more We Lover their prices; S ana r tns S oSns' =,
export commodtties to those countrtesL An
Il the prices nxed in these countries AZ OF
prices here. We readily understand Why IL
are % ). sa o. sns n she
ttsttcs above referred 70 establish the truth
! this beyond controversy, and take issue wii
Ar. Carlisle on that point whom he insists thl
prices. - . consequence OF silver demonetis'
| ton. have not fallen
win he or snv goli advocate contsnd tn,
J had there been no demonstiKatton Of silver, 81
! | We had conti&ued the free coinage OF stlve
prices would have fallen - they havef Or vi
! has not had the effect 20 cause the fall
prices. which means an appreciation Of none
be does viii he explain. u he can; how q
restoration Of silver will have any eject upe
prices or the value OF monevs
silver N Ctrculstioa.
/ Another one Of his arguments il that '
have not demonetired SILVER: that We ha
: more silver tn circulation - money now thu
! we have ever had before: that We had coint
D but . small quantity OF silver standard dolla
prior to 1874 There II no one who knows be
ter than ME-. Carlisle himself that when '
D give free coinage 20 silver bullion sr the min
b the bullion itself Is money. because the hold
8 of Il 1t any tune has the right TO convert
2 | into money, at the mint. Therefore. the bu
. llon-and this he admits In his argument
. worth - much - the money from which
! | would be coined:- In other words. that q
]. | metal In . dollar and the same amount of bu
lion uncoined would be Of the same valu
o That being the case. In all probability had '
continued the free coinage OF silver We wou
{ never have coinsi one-fourth the amount
silver that has been purchased and coined
government account under the gold standar
u for the bullion itself would have gone In
G cSmmerce and would have been export,
i abroad to settle our balances abroad NJ l
: coin value. The bullion itself would have OF
i tered into monetary use and answered the pu
9 value: and that was the condition prior
4 1879. Besides. under our laws prior to 1918, '
4 used foreign coins, especially the Spanish N
dollar. and foreign coins were In circulation
!. Again. the silver dollar. now under d
II ruling Of the secretary OF the treasury. ~
d under the rulings OF all secretaries Of u
e treasury. beginning with Sherman. ts q
C ton. and especially since Il has heeu dets
e mined that nothing but gold will be paid o
l. In the redemption OF our obligations payab
l. In coin. as our greeabacks. treasury notes u
" bonds. Under this ruling on the part OF q
i. government the silver dollar Is simply silv
b greenbsck. IL Is treated Is debt not
10 Had Mr Carlisle treated silver as money
d and greenbacks In silver ~ well as gold As
l. had the lawful right to do. he would new