The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-26
CARLISLE DISHONEST.
PALMS OFF JOHN sHERMAN,s
IDEAS AS HIS OWN.
Secretary of the Treasury of the
United States Touring the Coun-
try and Making a PitiabIe OBJ
ject of Himself.

Bowling Green, KY, May 25.-Ion. J. G.
Carlisle, secretary of the treasury, spoke
here today in the Opera house on the cur
rency question. The seating capacity OF
the house is only about 5000, and it was
found necessary to exclude women and
children. voters only being admitted.
When Mr.. Carlisle was shown upon the
! stage, he was greeted with loud applause.
After brief statement that he was there
as a Democrat to discuss public ques-
tons and not in any way to apologize for
the administration, which he knew needed
no apology, Mr.. Carlisle commenced as
| follows:
The question is whether we shall con-
tinue to preserve our present monetary
system, under which all the dollars in use
with the people, whether gold, silver, or
paper, are equal in purchasing power IN
all markets. The proposition of our fell
low citizens in favor of the free and I'M
limited coinage of legal tender silver is
that the United States alone, without the
assistance and cooperation of any other
government, shall legaliZe the coinage OF
4l212 grains OF standard silver into dollars
ana by law. compel the people Of the Uni
ted States, but nobody else, to receive
these dollars in payment of all kinds,
when, as a matter OF fact, the silver con-
tanned in such a coin is only worth about
fifty cents. But the claim by the free
-
would appreciate silver, and bring it 10
parity with gold, destroys the argument
that II would furnish the people with
cheap currency with which TO pay debts.
No country can establish the free coin
age of Both metals giving 10 each full
legal tender quality and both increase at
the same time. England tried for 500
years with strict laws against the export
alton of coin. She lost all her gold and
was driven in 1896 TO the single standard.
Wherever in the currency OF country
metal is over rated in comparison with
another metal, the under-valued metal is
driYen out of the country.
There are nYe provisions which abSo-
lutely cannot be avoided:
F1rSt-Ihere is not a free coinage cOun-
try in the world that is not on a silver
basis.
Second-There is not a gold standard
country in the world today that does not
use silver for money along with gold.
Third-There is not silver standard
country in the world today that has more
than one-third of the circulation per cap
tia than the United States.
Fourth-There is not a silver standard
country IN the world today that has more
tia than the United States.
Fifth-There is not a silver standard =.
country in the world today where the la
boring man receives fair pay for his
If the United States could coin all the
silver in the world available for coinage,
the SIN grains of pure silver contained
Ill our QOlidT NOuiQ not D6 NOTIH lHlS
as much as the silver dollars, but
the silver dollar itself would be deprecia-
ted. The Mexican dollar with 377.17
grains of silver, six grains more than the
American dollar, is worth only about fifty |
cents of our money. That would be ex-
aetly the effect on our silver dollar if we |
coined for private account, free, all the |
silver bought. If we can, by making the |
ratio 10 70 l, make a silver dollar pass as |
loo cents when 1t is only worth fifty cents, |
wny could it not be done at ratio of |
ID 10 )?
Before free coinage of silver can be |
brought about, another Congress and an
other president favorable to it would |
have to be elected. This would certainly
take three years, and before that time
every creditor in the country, seeing the
coming of cheap money would call on his
debtors to liquidate before the cheap
money was in effect, would bring upon
he country a panic compared with which
LII former panics were nothing. In 1905,
when the Spanish dollar and the French
,rown were made legal tender and were
slightly under weight it drove all the full
weight American silver dollars out of the
country, so that Mr.. Jefferson stopped
he coinage of the silver dollar. The. sub
idiary coin was also driven out, because
# full fractional weight and the coins
we're slightly reduced in weight in order
o hold them in circulation.