The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1895-05-17
Trouble for Free Coinage Men.


The New York Evening Post Of
April 26 says:
The advocates of the unlimited
coinage of silver are already finding
that there is an obstacle in their path
which Is lnsurmountable. Their whole
contention is based upon the claim
that the existing financial system is
running the country, and that tho con-
tlnuance OF this system involves gen.
era! misfortunes for the people.
Experience has shown that finan.
clal heresles thrive in hard times and
collapse upon the return of prosperity.
Ihe movement for an imitation of the
currency which swept over the coun-
try IN 1874; the demand for the re.
peal OF the resumption act, which was
raised during the next two years; the
greenback agitation and the demand
for free coinage of silver, which fol-
lowed little later, were all natural
sequels of the terrible panic of 1878
and the long period of business de.
preston that ensued. When specie
payments had been successfully re.
sumed and general prosperity had re-
turned, there was collapse of green
backlsm and all of the other wild
schemes which had flourished during
the hard times.
For nearly two years past the con-
dition of business has been peculiarly
favorable to the development of finan.
clal crazes. The panic of 1898 was
followed by a long period during
which men were thrown out of work,
had their wages reduced, found the
prices of their products falling until
the margin of profit disappeared.
What were the causes? The silver
spectators declared that they were all
to be found in the demonstration of
silver by "the crime of 1879" and as
sured the people that quick and GER
tain cure was to be found in free coin
age. Such demagogues were sure at
least OF sympathetic hearing when q
large number of men were out of work
and large number more were re-
ceiving insufficient returns for their
work. A prolonged continuance of
the same conditions would have in
clined the unthinking and the reckless
to accept any nostrum that promised
relief from what seemed intolerabIe.
''But during the last few weeks a
change has set in which has already
gone far enough to assure complete
revolution. Ever since the success of
the last bond sale convinced this
country and the world that our Ma
tional credit was established upon a
firm foundation, the signs of the times
have grown steadily more favorable.
There is not a department of industry
which has not felt the improvement,
and the outlook only grows more
promising month by month.
ga busy and contented people have
little patience with demagogues whose
stock in trade is rant about calamity
and ruin They have no time to
listen to new theories, and no desire
to try them. When men are getting
good wages for their labor and good
prices for their crops, they speedily
lose their interest in speculations as to
improved financial systems. A stand
ard which brings them prosperity is
good enough standard.
"The return of prosperity will be
fatal obstacle to the success of the
silver propagandists. Good times
will constitute an argument that they
cannot meet. It is only necessary now
to push the advantage that the sound
money men thus enjoy, and the over:
throw of the free-coinage movement
may be made complete and final"