The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1895-07-15
Senator Bacon's Letter.

Senator Bacon's Letter.
The letter Of Hon. Augustus q. Ba-
con. in response To an invitation 10 at
tend the Griffin convention, is an i'm
pcrtant contribution 10 the discussion
that is now going on. Senator Bacon
is not afraid to enter into details. and
the Illumination which he throws on The
subject shows that lac has been an
earnest and Il conscientious student of
the conflict that has been going on for
many years between those who produce
wealth and those who handle and control
money. which gives eXchangeability to
the articles aud commodities that are the
basis of wealth.
We advise orr readers to preserve
senator Barou's letter. for. while ii was
no doubt written hurriedly. ii sheds light
in great many directions. and is the
result Of years Of study Of details that
are not rs clearly understood rs they
should be-. II meets boldly and clearly
all The objections that The cuckoo organs
and goldbugs make against the restOra-
ton of silver 10 its old place in our
currency from which il was struck down
"A the result Of the Vaccinations of
the bondholderS and money lenders
Of Europe. in short. there is breadth
and "a depth in Senator Bacon's letter
that raises il above AMI carries il be-
yond the ordinary perfunctory utteran-
ceS. lie deals with large question i'm
large way. AMI with an emphasis that
assures uS that whenever the people OF
Georgia need leader 10 represent their
views ana interests. rs they asSuredly
viii I'm tie near future. they will find
in A. .. Bacon a man who i thoroughly
equipped 10 meet their enemies in the
field IF debate.
Senator Bacon dispoSes of all the
gollhug talk about parity" ana the
ratio 10y declaring That If the ratio has
changed ia the slightest since 1873. he
only Just. ,hc only scientific the only
true way 10 find il again is to reopen
the minis to silver at the old ratio. This
done. whatever disparity there may he
between the commercial value of The
two metals can he promptly adjusted
Ia he point of disappearance.
On this point Senator Bacon says;
There Is no room for denial that by the
decentralization If silver. gold has larsely
appreciated and silver has been correspond
finely deprecated i'm relative value. Re
verse he conditions by the demon, tzatiOu
OF gold ana the reconciliation OF silver
and the relative values of these TWO metals
would also promptly b. reversed. Silver
would br The appreciated. and gold would
be tire deprecated metal. Men may theo-
rize and discuss until the crack Of doom
upon the question Of the true ratio between
the two metals ami At last the only solu-
tiou must he found in practical experiment;
AMI that practical experiment can only be
satisfactorily made by coming the TWO met
ais upon terms Of exact ana perfect equal
IT,. The true ratio cannot be- shown SO
long as one metal is allowed the free and
unlimited coinage which is denied by the
law 10 the other. When silver and gold are
thus coined upon terms of equality, the true
ratio OF relative value Of the TWO metals
will b. correctly demonstrated by expert
ence. ~. as many confidently believe. and
as all patriots should earnestly desire. the
free anu unlimited coinage Of gold ana sill
Yer AT the present legal ratio OF Is to !
shall prove that the coins of the two met
al. Vi hen coined On terms OF perfect equal
ity, are at such ratio OF equal Interchange
able value thc important question viii be
most happily solved upon a basis which
will do justice 10 both dcbrur and creditor.
ana restore the proper relative values Of
property and money. H. on the contrary,
after fair trial o. such ratio. made upon
terms OF such ptrfect equality. and the
coins of the Two metals should not prove of
equal interchangeable value. the eN-
pertinent thus made wlIl show Brac-
ticalls what H. the true ratio. ana the
true ratio, when thus ascertained. should
be made the LEGAL ratio.
he maintenance of the single
"a ls.
"a of IN" money ccuters and make them
the absolute masters OF the finances and
business %: the Whole nation. II is easy to
understand Why the people of such loeaIi-
ties should earnestly favor a system which
enables them 10 dominate the continent,
ana which rapidly AMI steadily enriches
tnvIi al the expense Of ali other sections.
But I confess / am at Il loss to conceive
how others. not in such favored localities,
can be induced 10 favor a system which
must condemn their people TO Perpetual
financial vassalage.
IL IL were practicable 10 fix the ratio of
coinage by International agreement, all
would prefer IL as a speedy and stable set
Element Of The question; but there is no
reasonable probability of such an agree
ment, and in its absence the plain, prac-
teal question is, snail We remain upon the
single gold standard. with all of its UNI
told evils. or VIII this great nation, with its
vast uudeVclOped resources, and with it's
100000 OF prog essiye people. 80 forward
boldly ana confidently ia the settlement OF
tie question for themselves?
This is sound, just and logical 1t is
precisely The position taken by Mr.. car
Isle in 1892. before he had permitted
his judgment to be overruled by the UNI
democratic attitude of the man who
made him secretary of the treasury.