Pine Bluff daily graphic., 1895-05-03
LARGEST DAILY CITY CIRCULATION
1 G0RRESP0NDENT
ANS INBRED.

@iAN ~ " A~Ab A1 ~
 In yesterdays issue we published q communication from our good friend, Mr. J. A. McPhail, at Lin wood, in which he took the editor of the GRAPHIC to task for a late ex- preesion used in these columns anent the generalities usually em- ployed by the free silverites in adis- eussion of tbat question. The GRAPHIC is always glad to politely discuss with it's readers such ques- tions of importance as command public attention, for it is only by free discussion and a frank inter- change of opinions that the truth can be reached. The GRAPHIC freely accords to every citizen his absolute right to his own opinions and the unquestioned right to free eXpres- sion of the same, and we are not of that class or ilk who fall out with others, because forsooth, they enter tain opinions different from our own. We therefore crave the indul- genee of our readers to make a reply to some of the statements contained in the article aforesaid, and if pos sible, in the cause of history and truth. point out the errors of our spondent.
 Bro. McPhail answers the follow ing from the GRAPHIC:
 Our free silver friends would make more progress if they would give the reasons for the faith that is Tn them instead or contenting themselves with hurling epithets at ghosts and gold bugs
 Remarking upon the above our cores spondent proceeds to give the reasons for the faith that is in him, which can be reduced to the three following reasons;
 1. Because silver was made the standard by the framer's of the Con stitution.
 ,. Because prior t0 1873 silver dollar was worth 100 cents, and on more than one occasion was worth premium over gold.
 3. Because the denomination of silver destroyed tWo-thirds of our money, which has decreased the val ue of all kinds of property.
 We shall endeavor to answer our correspondent seriotim:
 l. Silver was not made the stand ard by the framers of our Constitu- ton. Art. 1, sec. 8, of the Consti- tuition of the United States, says: ''To coin money, regulate the value thereof and of foreign coin, and fix the standard of weights and measures.
 Our readers will readily see that no stondord is fixed by the Constitu ton.
 2. It is true that prior to 1873 ; silver dollar was worth 100 cents but at the time the so-called de "monitization act was passed, ther, was practically not a silver dollar O American coinage in circulation, fo the reason that by act of Congres of 1940 the ratio had been raise, from 153 to Is (which undervalue, silver) and silver being the deare money, was withdrawn from cireu lation, and cheap foreign coins wer the only silver, except subsidiar silver. theE in circulation. Thi fact was well known and understoo in Congress at that time, and Cor gress only enacted into law wha was then the custom of the country Not a single silver dollar was dt stroyed or the volume of the circl latingmedium decreased one particl by this act. Silver being wort more as bullion than money, th owners of silver bullion were nc having it coined It was not unt the product of silver had increase from $65, ,250, 900 to $95, 900, 900 al nually and it had ceased to be wort us much as commodity as it wa worth when stamped as dollal that any howl whatever was set u about the denomination act.