The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-04-26
GOV. J. NJ. STONE.
rontinued from end page. }

" 's,he period chiefly to a totally
= raa,eat cause. In the canvass Of
VI ~, ypar he said on that subject:
n "a IS thus shown that it is not the
r,n, pg money, but taxation and
H. S ;piauities of a protective tariff
~, ~ ,re the main causes of our dis
s,rrs- >,
Gsp silver coinage that the condi
,;oeg are bad, but | am sure they
~ non 90 bad nor so hopeless as
maDy represent. We must remem-
asr ,hq panics occurred in this
.ou,svq and other countries dur
nv me days when the world co.
;ored the benefits of free silver,
IA Aba, those panics like that of
,Sgs rom which they are suffer
NJ. though slowly but surely en-
,rgiog which accompanied by
,i,s.pread stagnation, depression
.rsusiness and the withholding of
unrer from investment. Such a
na,Sg, as That necessarily Inflicted
a,tp wounds upon us, but they
vii in time heal and that prosper
IL mG contentment will again
enpe 10 us, | think all human ex-
prjpace lstifies believing.
firmly believe that blmetallism
IS ,sue as Il principle. Thus hold
inc I have full faith that it is only
question of time when all com,
mpyeial nations will reverse the
h,w,Se1 Of 1873 and return to sill.
yer foir age and the use OF silver
as standard money. | also be
here that the agitation Of free coin
aye by this country alone is most
Hsions obstacle in the way Of sill
yer restoration. | am sustained
in this belief by what has happen
ta s,rss BE repeal Of the Sherman
silref Purchase law. 1t repeal was
nDiiee 10 the world that this coun-
,r would no longer undertake the
tSps1iment Of maintaining the
witv II silver with a view of estab-
fishing fixed ratio between it and
gDai so that it could play its part
in saeQiJng exchanges Of the
NDHd's commodities. The Bland
las Of ISIS ard the Sherman law
Of 1880 had wholly failed to sub
sfns his purpose, and the repeal
fibs latter law was notice that
experimentation by us had ceased.
1he result is to be seen in the
marked and rapid growth of senti-
Dena throughout Europe in favor
Of asnon by the grelt commercial
hslinns toward the restoration of
Hlrrr 10 the Old position as stand
aa money Of the world. A little
paiprsaq' an oNy part, | am con-
nnced, wifi be rewarded by the
irul'i0n of our hopes.
In tie meantime, our banking
sstein can and should be organ
Red so that any additional need
ioF an increase in the volume of
fneaAasUn, no matter how great
tat Enay be, could be easily and
sIeethhJ furnished.
In shls connection, it may not
DE- amss to recall the fact that in
1881, Notwithstanding the world
Vas faloyn8 whatever good bimet-
aHIzn could produce. 1--WE found it
Necessary and profitable to make
NE q bank notes to an amount
MaIN equal to the specie we had,
@a II must also be considered, in
lassing upon this question. that
Al U't Tune OF prosperity we had
scarcely any SILVER dollars. Our
al'eI money consisted almost en-
me- Of fractional Coins, and a
a''as amount of Mexican dollars
a'n oiAcr foreign CONS. This was
Eaese the ratio of 10 to /, estab-
|, ,si'ec by our law of 1854, SO un-
let-Saaued silver that the owners
y toend it more profitable to sell
= 'S' t@Iilon than to have it coined
az, ! dollars. Consequently from
'id' cate up to 1873 we coined on
"a iSttie over s, 900, 900 of silver
"Asis' and even this had long
'1e ceased to circulate and had
~ .ra melted down and exported to
.a.'' countries that placed a just
-'ae On silver. This proves that
: "a" great prosperity in those
= ssS' with little or no use for
A'e' dollars, while we now have
w 1000, ooC, 900 ofnsilver money. J