Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-21
TUESDAY. MAY 81. 1895
secrrtar, CnrliSIe,s speech.


We print this morning Secretary Car
hslc's speech OF yesterday, at covington.
or the subject OF the finances OF the
country We need not say that II Is
m able speech II was evidently pre-
pared with great care. and Will no doubt
attract general attention.
Mr.. Carlisle claims that ne has been
consistent but be left this for the clos
ing part OF his speech. lie treats that
point as II he desired TO secure considera-
zion OF his arguments rather than any
credit to himself. lie also says une-
uulyocally that he wants no office at
ahe hands OF the people Of Kentucky,
Or OF their representatlves-that is, he IS
not a candidate for the United States
Senate.
Mr.. Carlisle says the wave Of depression
which has swept over this country ORR
einated in Argentina. We doubt whether
thls Is a fact or not. He adds that Mr..
cleveland left 10 AIR. Harrison the pros
pect for the people OF fairly active busi-
ness. lie also tells how successfully Mr..
cleveland managed the finances during
his first term.
MIR. Carlisle says that under our exist
tng monetary system all dollars are good
honars. The question Is whether We
shall continue to make gold, silver. and
paper possess equal purchasing power. or
provide for the free and unlimited coin
age Of silver dollars This. he says, is
by far the most important question
which has been presented for the consid-
Grafton Of the American people during
shis generation. We are inclined to
think II is only one of several highly-im-
portant questions on one subject and ano-
ther. lie gives a history Of the act Of
iS7s, and denies that it demonetizes sill
Ter
Mr. Carlisle refers Us. as everybody
Hoes. to Greshams law. and says it will
operate against the silver dollars coined
nnder free-coinage law. Here he gives
much interesting matter. He says that
in 1878 our legal position was bimetallic,
but our actual measure Of values was
gold. lie says that there never was IN
our history one third as much legal-tender
eilver IN the United States at one time
as there is now.
Mr. Carlisle says that silver has held
Its own, so far. Silver, he adds, is not
hemonetlzed. though 1t has been coined
Mt ratio which does not conform to its
real value.
Nr. Carlisle asks. Shah the minis of
the United States be thrown open to all
she silver in the world? And this seems
10 be the real silver question. He rein
sorces this view By saying that II pri-
nate individuals were allowed 10 carry
their silver 10 the minis and have II
coined free the government would no
longer be under any obligation to keep
silver coins at par with gold But the
silverites would answer this objection by
paying that when they get control OF the
government they VIII attend to that lit
lie matter.
How would Mr.. CARLISLE secure sound
money currency? He would first make
gold the standard of values. Then he
would preserve that standard of values
by such use OF full legal-tender coins and
paper convertible into coin on demand
as could be maintained at par without
sndsngering the credit of the govern
,nent or diminishing the purchasing power
pf the money I'm the hands OF the people.
Mr.. Carlisle does not use one new ar
yument. we might say. and yet his
speech VIII, as we have said. be gene
rally read. and will exert no little inhu-
enee in some parts Of the country.