The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1895-08-15

.N.t tHam those OF the pI's,n., utI:.nn-
rtte, how lidieulona is the clsim OF the sil-
| Yfr a,.v..c.trs.
- hesr facts, fairly considered by any one
VIII hiring The conclusion that fres coinage at
8 tn 1 means the use of no coin bat silver;
means new standard OF MEASURE equal in
value to the present commercial value of the
bullion now put int silver dollar; means
| a new dollar worth only approximately
half as much the present dollar, and the
| measure of all values by this new standard.
MEANS POVERTY AND DISTRESS
| The immediate effect oil the election OF "A
president committed TO such a policy would
be the separation of the gold and silver dol
lar, the gold dollar going to a premium OF
| about ivy for one.
Va would lose at once Sc rs, 900, 900 %
| gold now in circulation and in the tieasury.
| The greenbacks and treasury notes S375,-
I 100000, W hich would still lain outstand-
ing, wouId be boarded in the hope that n free
| silver BILL if passed at all, would he soon rp-
| pealed. This would take place Immediately
| after the election of prssld. Mt in November,
| 1896, and probably even after thu nominal
| ton by either OF the great parties of a free
| silver candidate. The new president could
not be inausurAted until March 4. 1897.
| During the six montAs more befors it
| would be possible to pKss free silver lsRisla-
| ton, the contI action of the currency just de-
scribed would precipitate the most serious
| consequences. Those owning gold obga.
| lions would Put strain upon the rem aiming
| silver currency and bank notes, to buy gold
! to meet their gold oblis ations. The currency
committing of checks and hills OF exchange,
| am mounting to 95 per cent of our entire cur
| rency, wnuld go out of use in consequence OF
| loss OF confidence and credit, and the result
| would he the WITHDRAW al OF 81 IL per cent
OF our entire currency and the paralysis u!
J business would Immediately follow. Banks
| would he raided by their depositors Creditors
! W ould seek to enforce ther debts before the
| reduction OF the standard to the silver bass.
No extension pf debts would be given to any.
| body, except w here MAIDS payable in old at
| increased rates nj Interest. Lon. time debts
| are In gold. III" amount to he peid on them
would not he reduced. Indebtedness not
pay BILE in . old " ould be collected III once OF
the property owned by debtors taken from
them Merchants ould fail$ MANUFACTURED
close "orknen be idle; farm products with
out market, and poverty and distress h
found on all slGes
| HELP ONLY SILVER OWNERS.
~ DO not believe that president would
ever approve such legislation. If elected
upon platform with congress pledged ia
| pass 1t the calamitous effects iullo wing such
an election W ould bring to thsm the prareri
| OF the very men W no elertel them appealing
| for the defsat of such legislation. But If such
law should pass it W ould not he called un
| til the latter part of 1897. Then genera
| adjustment TO the new standard w ould BE-
| necessary. Prices being temporarily reduced
| on account OF the panic. it would be no mi
| months before the actual effect cold be told
and the real value OF 412 L. grains of silvet
determined. During this time business would
stagnate on account Of the uncertainty al
to What the real size OF the new measure
the new standard of value. This would Of
course, more or less, affect business perma.
nently because the com merrial value OF silver
bullion has become uncerta ain: hos ceased to
be stationary, on account OF the few corn.
tries now using it as standard money, and
on account of the uncertainty as to the vol.
ume OF its probable production
"No practical benefits can be pointe out as
a consequence OF the legislation. 1t would
interfere with our exchanges in foreign tradi
and prove a burden upon the producers 81
| our great staples cotton, corn and other
grains. BY hindering International COM
merce it would burden the agricultural pre-
ducts of this country like high protective
| tariff. Not only would the men who W orL
for salaries be deprived, ct least for a W hiie
! of employ ment. but when enabled to return
to work they would find the dollar paid
them wages deprecated in value.
| consequence CT a change of standard. The
only possible benefit wonld be from limited
increase in the value of silver bullion which
would go into the pockets OF the great silver
mine ow ners-the men who really are back
ing all this agitation and furnishing to it 1T
Eiuews of war;
Concluding he said:
TRUE DEMOCRACY AND SUCCESS
"The picture 10 not overdrawn. when con
template 1t there Is hut one source OF com
fort--it is an abiding confidence that :w it'll
| vol ha of I'm fraa oil
, American people can he relied upon 10 over
, whelming defeat any party which propose
to bring such disasters upon us.
Instead Of free silver at 16 to 1, whicl
means silver Eonometallism, a contraction
of the currency and q temporary and psrma
nent injury to business W hich has been de
scribed the secretary urged the necessity
for sound currency consisting o
; gold. silver and paper. but every dollar KEEP
asgood as any other dollar. This woulC
allow the coinage OF all silver whieh could b.
held at an equal exchangeabls value will
gold. This would allow the Improvement o
our banking system even to the extent OF re
pealiHg the tax upon state banks under wei
prepared provisions regulating the issue o
: notes and giving safety to the bill holders.
sit in a source of.gratihca tion,to dem ocrat
to know the troubles of 1898 were brough
upon the country by the unwise Legislation
of the previous administration. Your repre-
sentatives ut Washington we're confronted
: with many difficulties. No civil crisis ha
been more serious.
"Let the returk of prosperity; lst:the daily
D news that factories are again at work. an,
/ that one million wage earners have had the
wages increased; let the rise In value of farm
. products, tell how they have succeeded.
"The Mckinley bill has been repealed; tb,
credit of the government has been presei we'd
, money has been kept sound, ana we will &C
to the country in 1895 with the democratic
party fighting further high tariff legislation
opposing bad money. and assured of success