New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-21
CARLISLE on THE STUMP.
THE SECRETARY WARMLY GREETED ~
CONVICTION. KY.
HE DELIVERS Az ELABORATE Ai@' MEN
AGAINST THE FREE AID UNLIMITED
COINAGE or SILVER

HE DELIVERS Az ELABORATE ARGUMENT
AGAINST THE FREE AND UNLIMITED
COINAGE or SILVER.
Cincinnati MAY 20-At Central Garden. In Cow
ington tonight, Secretary Carlisle met with Il
warm reception At the home Of his friend. Mr.
Queen before the meeting. he witnessed a parade
Of thousands from Covlngton. Newport ana The
suburban villages. augmented by SJ from 'incn-
natl, with bands and horns who passed In review
before him. At the Garden the Secretary was
chcercd throughout his speech against the free
coinage Of silver. ps argument was elaborate and
was listened to ait.ntiyely. lie SAID among other
things:
Those Of us who oppose the fioe coinage Of s.!vel
in The measure or standard Of value now exist
ing. nor are "e PROPOSING to discontinue thg use
not now unfrcndy e. SILVER IN The sense Of dcsir-
Of the United States, OF 81 any o'h'f Coun,iy. bn,
! know that 10 cannot bee kept ia circulation along
one country may attempt TO establish between the
two metals, and that IN" only way To s"fuf" me
them the standard 81 value ana limit the coin
age OF the other that The Government which issues
able all times to maintain ihcr eNchanscabliiy.
either directly or indirectly through thc operation
lucb me-. 81 I'm "y,i,enJSr si.,' CONS and pr,rr
convertible into coin on demand - can b. main
tanned without impairing or "nlangorng IA" creh'
Ing or dob-paying power Of the money in ,he hands
Of The pe pie This IL what / mean by the term
sound money. and. IN my opinion. II ~ what
"a meant by ovcrwhclniIg majority Of the
opponents OF free coinage 1T tho RATIO Of - to ].
This IS neither gold monOm"thil.sm nor silver
mOnometaliism. but il means mat one standard or
measure Of value shall be maintained; and thai al
forms Of standard coins IN as" taal be kept cquA
to that standard IN the purchase Of commodities
ard in the payment Of debts. Any policy which
would discontinue the use OF silver money. by
direct legal enactment by Undertaking. II rcla-
lively gold In the coinage laVs. would certainly
result in practical gold mOuOmctdliism. AMI. on the
other hand it Is equally clear that any policy
by legal enactment or BY Undertaking that metal
relatively silver in the coinage laws. would re-
suit In practical silver mOnOmrtasm
Free and unlimited coinage ~ the ratio Of 70 TO !
would establish silver monOmctalsm. pure
and simple. for tn. coins Of the ovcrva.uci metal
will ultimately drive the coins Of the other out Of
circulation and out o. the country even when the
legal ratio varies but "A small fraction from the
commercial ratio. bur the expulsion OF the under
when It's value is really double tho va.uc Of
the other How long DO you suppose the SG2j.y0-
0cj Of gold In this country would remain here and
be used money under such policy; The bank
ing and other great financial Institutions. which
and hold In their reserves much tn" greater
part OF this gold would at once sell IL at "A large
premium for silvcr-about s. for sl-or they would
ratio OF about thrtytwO pounds OF silver for each
one pound Of gold. have the thiriy-two pounds Of
silver coined into dollars at the expense Of the peo-
pc. and with this cheap money pay the demands
OF their depositors and other creditors. The masses
0. the people cannot do this for they have gold
have they any silver bullion to be coined at
the expense of the Government.