The Caucasian. (Clinton, N.C.) 188?-1913, 1895-12-12
A. II. STEVENS
on SILVER.
Tic SAYS that Ceasrexs S,suck
u Down In lS73-Asd That
II Was q Great Errus.
n ss a>= - ts.-ss 49,. e. 60 49,
'.n--s ss-ss@a = =. as-ss s~.. ~ 10 -
:, 81 rs- c--~~- b - s-.-s |. =. x~~> 49,

ass.-s ss.ss%s - - ssAs No.. ~ O.. -
I. q ~. e--~~. - - a--.-s - - x,~-~ q g
fszs--.
rh- -cr,n~ uf i~.s- gree. mar. h~...
"a- a. tsu- Coz. -n. ksts~s~~ fs-m
hish Auihssiiy usni;ipi,~. ts .i..s the
disaster cza-~a es that sr,a.- ..s
~h-n tho p-opi~ .haii ~aus~ ts s~stis.
The con--sio- Ec~. of a. aud tho ns..s..~.
that ,nspir-a %. th~y will baii-ri, ssr..
ats author. and tls~ir nam~. uill 49,
roin- = r~lrozch and .t~ns-h d ts haaaas.
iiy.
The is;--t discovery 1. q letter vrss.
ten by AirNsns-r ~. ss~pa~s.. 81
''-srxia. thirteen s-ar- ago. shlca
contains some Interesting mstt~r. %
~ q. follow.
National Hotel. wa.hinxton. 10. a.
Jznuary -. i~~1-Mr. Ii. o. nsrs.vs
i.o- Ang-lr-. Gal. ny l,~ar SIR: Wear
letter of the lssh insfAnt 9th ~a.ls>~d
slip. VA. received thu. ~s~ninR. Al
i"w me To thsnk yoa foe %. The cub
i-ct 80 enc of the gras~.t that 200 g.
cupi-- the attention Of songrsss aud
the thinking men thros ghout the q si.
ted States. The r-sson that silver bat
lion has been depr~ciai-d ,,no~ is.s In
this country i- that songr~s. ia Feb-
ruAry. is.s. .traek siis-r ;ram the lisss
of mone, of tic United siat~s The
moment that TIN. act of ConEr~es uas
passed gold ~as made the only legal
standard of values In this county.
That wa. a great error aud Gas attend
I'd with iBtinii. mischief in Ia. 4 nii~d
States.
InI.s. Mr.. Hamilton aud the pstri.,i.
statesmen Of that dsy r~oognis~d ia
our coinage the bim~tAilir .yss~m OF
money that is. he and thy r~oagnis~d
silver ne money Ne we'll Ne gold st tho
ratio of about sixteen part Of silver
a. equivalent Ia one of gold. nd~e
this regulation aud coinage ~~ ~~rs
prosperous IN is.3. wh~n silver cas-
deprived oi it d-bi-pay ipg y.os~s ss
an equisal-n ia gold zt the ratio
stated. silver in the markets of the
world was NJ a premium over gold. o.
- useles. To 40 into reason. Uhy this
change was adopted in our syss~m or
by what unseen hands it was ~fi~ct~d.
The true policy of this country 10 Ia
return 10 the -ystem of our fsth~rs If
the government should now, ~ u
ought 10. retrAoe 81. steps aud prov ,ds
for the free cottage of silver Ne it doc.
Of gold aud make al2'r grains of si and
ard silver equivalent To zs-s-tenth
grains of gold. then silver would immv-
diateiy return ." IL. original dignity ia
the markets of IN. world in purciss-
ing and d-bt.paying power. This 10
the real function of money aud in this
country this equality la This fusct ION
at the ratio stated should be- maiai ain
ed.
The debts and bond. Of the United
States provided for payment In goid
or silver coin at the then standard
value; it Was a great wrong to tho
taxpayers On whom rests the pay a,ent
Of the public debt 10 strike silver from
the list Of money as was done in lsss.
IL was that blow which changed the
values of the property Of the nii~d
States. More than half of the money
of The world was At that time silver.
Tn. whole amount la the worid in is.s
WAS estimated at - $50 tsSu 900; of ti~.s
, 81 Boz, h,OOo,Do0 were silver and Ss ,sASD-
, OO0,O0 wer- gold in round nunst,~rs
Tbs ruinoUs consequences which At
tended this bad act of admiaist rat iou
were seen in the failures oi mercantile
houses aud business men amount ias
to more than half the public drtt oi
the 1 nii-d States within The last nias
years. Now. I am for the free coinage
OF silver bullion just Ne Of gold. Gold
:. and silver should be put upon . pr.
feet equality As OF yore in the ratio oI
!. 10 Ia ]. This would not only add "a
!, the value OF real estate and AL sorts o
!. property in the United states. but u
|, would greatly encourage and stimulate
: the mining Of silver In this country
: In my view all the gold and silver thai
: ! can be produced To our mints sboui<
DE coined alike. The coin should b,
kept i'm the vaults Of the treasury sns
/, certificates OF IL given in all cas~-
= where certificates are preferred. Tk~s'
coin certificates should b~ the rurr~n
y cy Of The country: it would b~ the b~s
IN the world. In this age we do no
wish TO burden with the weight q
y either gold or silver in ordinary bUsi
: ness transactions extending To distsn
places in the country. but We do wan
q a paper currency which T. rede~mabl
u at the will Of the holder In coin dolis
Il for dollar. Bank bills which sse D
e common i'm use are only promises .
q pay in coin and are often issued q
d amounts Of two and sometimes To thse
,f for one Of coin in the vaults. bot uu
n der the plan advocated by me the ces
.o tiflcAtes would in no case repres~u
ID anything but dollar for dollar.
il 1 haven't time to say more 10 70
HD"- u hou tu1t
il ent depreciation of silver bullion IN
of the silver standard dollar aries
solely from the dsgrsdation Of siiss
by act of Congress In ls13. I>~t Cos
a. gress declare, rs IL ought TO. that sizi
70 grains Of standard silver is and sba
J. be equivalent to u $40 grains of gol
in it, purchasing and debf-pay IN
:, power and instantly silver will b. on
par, IL not above par, compared Wii
- gold
To increase The quantity of silver
-, the present dollar of sizl. grains o
TO 4s0 grains 20 make % equivalent
the present current value Of u =
Nv grains OF gold would te . great wsos
=. 10 the laboring masses In the unis
- whose taxes have Ia me~f the publ
u" debt: the holders Of the public debt
-, the time they received the bonds 2
.! ceiyed them under the express stip
lation that they were To be paid
United States coin, gold or silver,
its then standard value, and all that
ed wanting To make gold and silver ~qu
Dol TO make s12is grsins of silver ~qs
ry in the markets OF the world 20 zs b
ng on the list Of the moneys of the Ia
is- ted states n il SAs in 1873 I ha
,e. lately made q report 20 the bO0se
nd representatives upon our cosoage,
Of. which I urge not only the rest0esti
Va. also the adoption of metric cOina
On. applicable alike TO gold and silver.
in will send you . copy Of this in . s,
oes DAYS when it comes from the pr~ss.
nit Yours truly,
III = a