Mexico weekly ledger., 1895-06-20

clared, and only voters came. Mrs.
Henry Watterson was to have occu-
pied a box but n gave It TO those who
were entitled to vote. 1t was the hope
and belief of the personal and politi-
cal friends of the Secretary that n
| other visit would result in stemming
the free silver tide, and the day was
given over TO a rousing public senti-
ment.
The hall was packed to s~uffocation
a half hour before Mr.. Carlisle's ar
rival, and when he appeared upon the
stage there was a wild demonstration
of delight. The Carlisle idea is argued
in every nook and corner of this city.
Laboring men, business men and
bankers meet IN a common level and
hurrah for him.
The heat was oppressive and the
speaker proceeded with great difficult
ty. He hesitated, and words did not
come readily to him. His collar wilt
ed, despite the efforts of two or three
men on the platform to successfully
operate huge palm-leaf fans.
If the third Kentucky speech was
lees argumentative than the others,
Secretary Carlisle gave no identified
tions of a desire to hedge. The most
prolonged applause which greeted
him was when he said:
SIT may be hat my opinion on the
question can be attributed to the fact
that belong to a party which toler-
ates no surrender of principles to ap-
pease the popular clamor."
He followed this announcement with
the assertion that socialism and pop
ulism have no place in a Democratic
creed. This was the line of argument
advanced, and, without a single refer
ence to the State campaign, he closed
with a plea for reputation by the
people of Kentucky of those who
sought to undermine the financial
stability of the Government.
Mr.. Carlisle repeated his argument
that the undervalued metal would be
driven out of the country by the
Ss~a., ss.sO
at some length paid attention to the
claims that the fall in the price of sill
yer was due to its demonetization. He
said:
at is insisted that fall in the price OF
silver is attributable to the legislation
in Germany, the United States, France
and various other countries during
and since the year 1878, and most
illogically it is also insisted that, not
w~ithstanding the reduced price of that
metal is the result of the unfriendly
action of a great many Governments
acting in concert and with a settled
purpose, the United States alone can
restore the value of silver. OF course,
if it required the action of II or 13
different Governments to bring the
price of silver to its present state, it
would eem quite clear that no one of
them alone could restore it, as, if
the depreciation in the value of silver,
as compared to gold, has been caused
solely by the adverse legislation COM
planned of, it follows that if that leg
islation had V taken place, the
value of silver, as compared to gold,
would now be the same as it was in
in 1872, before that legislation occur
red.
"What then would have occurred?
What then would have been the re-
suit? Not a single dollar of full legal
tender silver would be in circulation
in the United States at this time, or at
any other time since 1872, because at
that time the bullion contained in the
silver dollar was worth about 3 per
cent more than the bullion contained
in the gold dollar, and the two could
not circulate together.
''The same law which drove silver
out of circulation under the acts of
1884 and 1887 would have kept it out,
and, instead of having in circulation
among the people about 1893 ,000, 900
legal tender silver dollars, as we now
have, we would have had none.
"'The fall in the price of silver was
not due to the legislation complained
of, but to an enormous overproduc-
ton. The average annual production
of silver in the world during the five
years next proceeding 1868 was about
$50, 900 900, while in 1893 it was over
S209, 900 900, an increase of 216 per
cent--much greater than the increase
in business or population of the world.
Notwithstanding the fall in silver,
silver mining continues to be a most
profitable industry. While the farm
ers and other producers are strug-
Cling to live comfortably and meet
their obligations, owners of silver
mines have accomplished enormous
fortunes.
1t is not necessary to discuss what
might be the effect of the permanent
or temporary establishment of an in
ternational ratio by agreement be-
tween the great commercial countries
of the world, because the free coinage
people repudiate the suggestion that
any other nation should be consulted,
and say that all that is necessary IL
for the United States to proceed in
dependently once. If the fat of q
single government is sufficient to i'm.
part value to a coin or any other COM
modify, perhaps these gentlemen are
right, but if it is true, the whole world
has been wrong for thousands of year,
and all the labor and all the taxation.
to which the people of the world has
been subjected in the past has beer
unnecessary and uniustifable.
'sThat the fiat of the Government
does not make money was illustrated
by the history of the trade dollar.
That was coined, free of charge, anil
delivered without expense to tho
owners of bullion, and contained 80