Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1895-03-19


en- to an abandonment of their demand
or even to compromise with it, by tn,
specions cry of danger to the treasury
and menace to our credit. We fea
that those who are In favor of tn,
abundant use of both gold and silver
as money have already lost something
by passiveness They have felt that
however hopeful they might be abou
the sentiment of the two houses of con
gress on the subject there was a presi
Dental wall against silver that could
not be scaled within the coming two
years; and under these circumstances
they have been too tolerant of the
proposition that some radical change.
in the currency system must be made
on lines that give consideration to only
one metal. They have been informed
with much presumption, that they can't
get silver, and that they must turn
their attention to saving the country
without it.
We maintain that the country is not
in dire danger. 1t is depressed on ac-
count of the policy against silver, but
the government credit is good and the
remedy for present evils is easy. There
is a temporary deficiency in the reve-
nue., at which nobody who has given
attention to the legislation of the last
year ought to be surprised. A great
deal of internal revenue was lost
through anticipation of the new law.
1t was the same with sugar and other
articles. We shall soon have recovered
nd l,a
law will in all probability yield an
abundance of means for running the
government on fairly economical lines.
The present disparity between receipts
and expenditures can be easily removed
by n little legislation that will not be
in the nature of general tariff revision.
If the leaders in all parties in congress
have not the common sense and patriot
ism to easily make provision for the
exigencies of the moment, then the
people of the United States have abun-
dant reason to pray for deliverance
from their so-called statesmen. If
matters come to the very worst
in respect to revenue, the diff
Guilty can be bridged by the issue of a
few more bonds This suggestion GER
tainly should not shock this administra-
ton; but the issue will not be neces-
sary if both parties in congress act in
accordance with the commonest inter-
probation of their oaths of office. Con-
gress and the president have the tax
ing power, and it will be cheaper to
use it, especially as it will be only to
provide against passing deficiency,
than to go in debt.
The revenue question being disposed
of, what is to be considered next? Here
comes the old question of keeping up
gold reserve to redeem notes that
are redeemable in gold or silver at the
pleasure of the government. The
credit of this country is certainly not
going to be injured if the secretary
of the treasury requires those who pre-
sent greenbacks or Sherman notes to
take part of their pay in silver. Our
stability will not be shocked if, when
gold runs out, nothing but silver shall
be paid. When the government takes
hold of the currency question vigor-
ously on natural and lawful lines,
gold will no longer be a preferred
and speculative article, but will come
out and enter the channels of circula-
ton, and speedily appear in the public
treasury in sufficient quantities for all
practical purposes.
The government credit is prime. All
the currency for which it stands as
guarantor is eagerly taken. There is
practically no discrimination among
yreenbacks, Sherman notes, national
bank notes, gold certificates, silver GER
etc. People take notes of all
kinds, and are glad to get them. The
man who buys farm for $40, 900 can
pay every cent of the purchase money
in silver The seller will make no
point as to whether silver is legal
tender to that amount or not, for he
knows that he can use it as readily as
he could use gold, dollar for dollar.
The people are satisfied with the gov
eminent as a creditor. They appreci-
ate it's unlimited taxing power and the
enormous wealth of the country upon
which to impose taxes. They do not
want their paper money redeemed
When the notes wear out they will
send them to the treasury and get new
onces in their places, the old paper be-
ing destroyed.
Redemption is demanded 10y a few
people only, and for speculative pur-
poses alone. The policy of redeeming
in nothing but gold makes it an object
to seclude it, and only let go of it when
the government wants to borrow at in
terest; and then only temporarily, for
the notes are not cancelled when re-
deemed. Some actual gold is neces-
sary we are told, for the settlement of
balances in the trade with other ma
tions. Should the government be called
on TO furnish the yellow metal for all
these balances? What has become of
the gold? The government hasn't it.
The banks must have it, Let the banks
help along.
Silver men ought not to temporize
with this question. There has been
too much compromise already. They
l,n i.