The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1895-06-13
"CoIN" ATTACKED.
This Correspondent Don't Like the
Amused Smile of the Financier

1
Mr.. EDIToR:-Squire Jones' gauntlet
still lays over in the corner. From the
manner in which it was thrown gather
that the Squire is to be considered as
every inch beligerent. l note also
that the belicose editor of the Iadpend-
ent has rolled up his sleeves and jumped
into the arena of financial discussion.
Both of these gentlemen have taken
. Coins Financial School" as their
guide, a much advertised book which
deals with the experiences of a youthful
prodigy with Napoleonic cast of feat
ures, who juggles statistics in the most
suave manner possible and answers the
most involved questions with an
amused smile. Now | am only lay
man in this controversy which so ex-
cites the experts above mentioned, but
it seems to me that some of the ques-
lions involved demand something more
than an amused smile" He who
reads the book referred to fairly must
read between the lines because it is
often most eloquent by that which is
omitted from the text. AS an example:
the youthful fnancier quotes table of
statistics giving the various prices year
ly of silver, wheat, cotton, etc., from
1873 to the present time, showing that
they all have followed the same sliding
scale downward and endeavors to prove
thereby that instead of the price of sill
yer declining the price of gold has risen
and that our present dollar is worth
twice as much as it was in 1878. This
is the argument upon which he rears
the structure of his opinions. 1t is evil
dent that if the foundation is remoy ed
the whole must collapse.
Previously he had given the compar-
ative prices of silver and gold from
1878 back to the beginning of the cen
fury, showing that they had remained
practically the same. In another place
he mentions that in 1860 wheat was
worth 81, cotton, etc., relatively the
same. Putting these statements to-
gether we find that while in the thir-
teen years succeeding 1860 wheat, cot
while silver had decreased in value one
or two per cent. Then comes the OPP
pOrtunity to read the double leaded
paragraphs which lie between the lines.
Instead of allowing Coin to draw our
conclusions for us, we might draw them
ourselves and wonder if it is not posi-
BILE that through fierce competition and
a lessened cost of production the same
causes have conspired to reduce the
price of silver as well as that of wheat
and cotton. Perhaps gold has not risen
after all.
| do not believe as long as single
one of the great nations of the earth
deny to silver the same rights that it
accords to gold that the former can
ever stand upon the footing claimed for
it by its adherents.
The very fact that its ratio has been
placed at Is to l proves that it has a
market value. Those who pirate so
learnedly about All unlimited de.
mand" might, along the same lines of
logic, claim that silver can be forced to
circulate with gold ounce to ounce, to
l. l wonder that they have not de-
manded it. Few people seem to be
aware of the danger free coinage would
entail. Men have forgotten how in
1869 the vanishing supply of gold en-
abled Jay Gould and some of his asso-
ciates to corner the market in that
metal and retire with eleven million
dollars of spoils.
They have forgotten how an absorb
ance of the money of which intlationists
desire brought Oh the panic Of 1873. Is
it possible that the lesson that they
there learned must be taught in turn to
each generation. Why are the records
Of history kept if we do not profit by
them
The smooth tongued demagogue has
once more arisen. The backyard
philosopher is astonishingly in evidence.
Strange that any one should think that
through reading single partisan book
he should know more about a given
subject than men who have made that
subject the study Of life time. But
woods are full Of just such men. I'm
less the alarm is taken Rome will awake
some morning and find the bridge al
ready in the possession Of the Etrus-
clans and the prospect anything but
9 amusing" If ever Horatious was
needed to guard the pass Of our nation
al honor against the silver Sextus and
his host Of repudiators, the time-is upon
us. If ever a Paul'Revere was needed
TO sound the alarm to slumbering
people, the dawn has already streaked
the far east. g Awake, Samson, for the
Philistines are upon thee" R. B. S.
Wilmot, June 4.