The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1895-04-20
HENRY 7. REYs, Ja ALFRED H. STONE
IREYS 4 STONE.
General Insurance Agents,
2II Main Street, GREENvILLE, MISS.
We represent none but reliable companies,
and solicit a share of your business.

to that act or call for its repeal. Only
since 1890 has there been any general
or serious thought that the free coin
age Of silver by this country alone at
a ratio not related to or determined by
Its Intrinsic or market value could be a
cure-all. As late as 1891 Senator j. 2.
George, now one the most ardent sup
porters of free coinage, attributed the
evils Of the period chiefly to o totally
different cause. In the canvass of that
year he said on the subject: at is
thus shown that II Is not the want of
the circulation Of money, but taxation
and the iuiquitles Of a protective tariff
that are the main cause of our dis
asters.n
agree with the advocates OF free
silver that conditions are bad, but | am
sure they are not so bad nor so hope
less as many represent. We must re-
member that panlcs occurred In this
country and In other countries dur
lug the days when the world en-
joyed the benefits Of free silver, aud
that those panlcs, like that Of 1898, from
which we are now suffering, though
slowly but surely emerging, were
accompanied by widespread stag
nation, depression of business and the
Withholding Of money from invest
meut. Such panic as that of 1898 nee
essarlly Inflicted deep wounds upon
US, but that they will In time heal, aud
that prosperity and contentment will
again como to us, think all human
experience justl6es US In believing.
firmly believe that bimetallism Is
true as principle. Thus holding, /
have full faith that 1t is only a ques-
tion Of time when all commercial na-
tions will reverse the blunder of 1873
and return TO silver free coinage and
the use Of silver as a standard money.
also believe that the agitation of free
coinage BY this country alone is a
most serious obstacle In the way of
silver restoration. | am sustained In
this belief by what has happened
since the repeal Of the Sherman silver
purchasing law. Its repeal was notice
to the world that this country would
no longer undertake the experiment
Of maintaining the price of silver
with view Of establishing a fxel
ratio between II and gold. so that 1t
could play It's part In effectiug ex-
changes Of the the worlds commodI-
ties The Bland law OF 1878 aud the
Sherman law Of 1890 had wholly fail
ed TO subserve this purpose, and the
repeal of the latter law was notice that
experimentation by us had ceased.
The result is to be seen in the marked
and rapid growth of sentiment
throughout Europe In favor Of action
by the great commercial nations to-
ward the restoration of silver to Its
old position as standard money of the
world. A little patience on our part,
| am convinced, will be rewarded by
the frultion Of our hopes.
In the meantime our banking sys-
tenn can and should be re-orgauzed,
so that any additsonal need for an in-
crease in the volume OF circulation, no
matter how great that may be, could
be easily and speedily furnished.
In this connection II may not be
amiss to recall the fact that In 1861,
Notwithstanding that the world was
enjoying whatever good bimetallism
could produce, we found 1t necessary
aud profitable to make use of bank
notes to an amount nearly equal 10 the
specie we bad, aud II must also be con-
sidcred In passing upon this question
that at that time Of prosperity we had
scarcely any silver dollars. Our silver
money consisted almost entirely of frac-
tional coins and small amount of Mex.
icsn dollars and other foreign coin
This was because the ratio of l6 to | 1,es.
tablIshed by our law of 1884, so under.
valued silver that the owners of Il
found II more profitable to sell It as
bullion than to have 1t coined into
dollars. Consequently from that date
/ up to 1878 we coined only little
over 100000 OF silver dollars, aud
even this had long since ceased to cir.
culate and had been melted down and
exported to other countries that placed
Just value on silver. This prove,
that we had great prosperity in those
days, with little or no use fer silver
dollars. while we now have over 5000,
100000 Of silver money, aud yet The
cry Is for more. This immense sun
is full legal tender aud under our Law
is maintained upon parity with gold
aud has the purchasing power and
functions of standard mouey. Under
free silver coinage am constrained
by our experience to believe that II
; would fall to it's bullion value, and
like silver bullion fuciuatc In value
from day to day
. As to the effect of the volume O
, money upon prices | canuot do bette