The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-06-11

4uUOI as NitN AIV tIi Nftfr tI|NftIIf INV
chambers Of commerce do not want biuet-
nlIism.
Who demanded the revocation Of the
Sherman lawP The boards of trndo ana
chambers Of commerce. Who signed peti-
lions asking for the ratification OF tho In
famous Rofhschild contrnct' Was Il tho
mass Of the peoples No. 1t was the cham.
bcrs of commerce and the boards OF tradH
There Is just one class of people In this
country who believe that this countW
ought to hire foreign banker to take care
of the finances Of the United States and,
thank God, il IL not tho mass of the people,
II would be more dangerous to put an
English banker at the head of our finan
cial system than TO put an English gem
oral at the head Of our armies and an Eng
lish admiral at the head of our fleet, as
has been said before.
And yet gentleman stood before yot
yesterday and told you we had money
enough and that the gold standard waS
all right proper and sufficient The name
of that gentleman Is fixed to a contract by
which large blocks of United States bonds
worth ,119 were sold for 104 on con-
dition that the purchasers would protect
the treasury Of the United States Our
people are not well up in finance, but am
glad that large majority are ignorant,
provided they have the patriotism to be-
lieve that this nation is large enough to-
run its own finances without hiring for
eign banker to help them.
Effect of the Withdrawal of silver.
have tried to show what would be the
effect of the withdrawal of one-half the
standard money of the world, and I would
suggest that upon the action of the UniteS
States will in all probability depend wheth
err this will be done or not. They say y2g
must have n gold standard because OthB
nations have the gold standard. say You
cannot have the gold standard because
other nations have it. Suppose that six OF
us were in boat on the water, and tho
boat was capsized, and there We're two
boards each capable of sustaining three
persons, and suppose that you found that
three persons had already got on on,v
board and two on the other, would volt
make for the plank that already contained
three persons or for the other plank that
was not crowded to it's capacity and that
would give you refugeG And shall VIZ
take the gold standard because England
has it, or because Germany has t. or be-
cause all Europe has it? If the-c was. 70
other reason, we could not have the gold
standard because those other nations have
It, We must bring back into use this
plank, which, with the other, will bear us
safely to shore. We cannot drown with :.
them. The intelligence Of the United States a
will determine it.
Herschell tells you that If India cannot
make some arrangement with the United
States for the coinage of silver India must
go to the gold standard. Upon the action
of the United States, the greatest nation
of the world, will depend whether or not
the gold standard will sweep across the
world, bearing death, destruction and tea&Sn
in its wake, or whether silver will ~
brought into the minis again. There is
seldom in the history of the world there.
has come time when one man by hiS'
vote could bring salvation in one sense to-
all his fellow men, but the power to do
such thing brings with it the RESPONSE
bility for the misuse Of that power. If
the United States throws the weight of its
influence against silver, it means that sill
yer will be discarded throughout the
world, and the grinding process will
go on.
But the question may be asked, II we
engage in free and unlimited coinage
alone, will we be able to take care of all
the silver that may be offered? We do not
world because more of the silver in the
world will be wanted for manufacturing
than for coinage. We produce, say, 5000,
600 600 Of ore por year. India and the 9TH
err countries that use silver as a subsidiary
coin must have their share. There may 10
an increase of production. The output Of
tho metal may double 1t may go to 81,
600, 900, 600, or it may go to $4,000, 000,
Coo per ycar. There is possibility the
output will never end. You know that Il.
never commences to rain but there is
possibility that it will never cease. Yet It
has been raining for 6,000 years of and
on, and we have had but one flood, and !
have known people to suffer so much for
the want of rain that they would pray for
it, though they knew that when the down
pour started 1t might never stop. We have
never yet had a deluge of silver and we
therefore have one more chanc5 on that
metal than we have on the rain. And
then If there is deluge of silver we will
know how to stop it, We stopped it for
20 years when we did not want to, and
surely we can stop it again when we do
want to.
a Word About Ratios.
They say that you cannot put value in a.
thing by process of law. You also cannot
tell which way water will run, but you
can dig ditch and make it run any way
you want to. Why are silver and gold
called precious metals? Because they are,
limited in quantity, and you can do with
them things that you cannot do with
things unlimited in quantity. II you
would fix rate of $500 per bale for cot
ton, every one in the world would at once
go to raising cotton, and the result would
be that you would have more cotton than
you could take care of. But the man who
had cotton to sell would never sell a pound
of it for less than 30 cents, for since he
could get that much from you that would
be the market price of the article. So
with silver. If the United States was. :,
turning out dollar for every SO much
silver that was brought in, then 81 would
be the market price of that much silver,
and you could not buy it for less. When A
ever the government says, "We will put a
stamp on dollar and for 412H grains of
silver" that minute that much silverwin
be worth 81 anywhere in the world the
same as 1t will be here at home less the
cost of TRANSPORTING H. Rl1t IL doa.s NOT