The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-25
a!! A q WAS The CAUSE
s6st Checked the Decline Of the Free SlIrer
4 Sentiment Of. a Year Ago?
i &, CHEAP DOLLAR IDEA CHECKED
.sts xtt 0 T PropertS.At tnc,tcdb by silver
sgsss tesE- Faisc Statements of silver
ssSss line Owners Exnosra Fortunate
sSs y forthe CnuSc orsouud Money The
SSsss knjoritS of People avn Property.

ssaSss;V Various causes have been given for
SsGhe$ rapiu decline III the free silver SEN
8timent, which less than year ago
SSeensd destined to sweep everything be-
Sstoreak The mastery exposition of the
sflndamental principles of the currency
sanestion by Secretary of the Treasury
,.asSlarllsle i'll II series of speeches has
$ldoubtless done much to check tho free
sCoiDago iden. III the southern states an
4 advance of over 90 per cent in the prico
Sof cotton destroyed tho solo argument
Igof cheap cotton OH which the silverites
Erelied for their support by farmers and
planters. Throughout the whole country
the educational work of sound currency
$olnbs and similar organizations, aided
: by, the sound money press, has exposed
tho fallacics and false statements
through which the agents of the silver
= mine owners had secured following
Tor the cheap dollnr scheme.
,s These different agencies have all con-
tFibuted to the rout of the lG TO sill
yerites, but more potent influence
II than any or all of them was the recog
milton by the American people of the
right of property and the hope Of every
5{citizen to be some day property own
4 er. In the progressed the currency dis
4 cussion it soon became evident that tho
q free coinage agitato:s were really at
tacking the right to hold property, and
, that their arguments against the gold
& standard aud the creditor class were
& directed against the natural right of
u lanA0ro IN ho,l- I,ni, oh
ors as much property as was loaned.
Tho Populist papers and the speeches
4 and pamphlets of tho moro rnbid silver
Il ties were filled with denunciations of
Il capital, rich men and bankers so that
the issue between gold and silver was
II generally dropped for the wider ques-
ton of tho poorer classes against the
wealthy.
Fortunately for the cause of sound
4 money, tho great majority of the people
8of this country own property or hope at
some time in the near future to he prop
s8erty owners. When they were asked to
4 support q financial policy which would
Il enable all the debtors of the country to
4 xepudiate one-half of their obligations
thus practically taking by law half of
$,the property of all creditors, they
n promptly answered "No." Those who
sHhnd little money loaned out to IL bank
igors to individuals; all who held pre-
amiums in life or fro insurance compa-
sany or were in any other way creditors,
ssssaw that they could only be injured by
tho adoption Of 80 cent dollars z.
On the other hand, those whose bust
ness was carried OH by borrowed money
& knew that although they might be tenn
4 porarily benefited by financial repudin-
,stion, yet when they again wished to
borrow no ono would lend, while all
4 who look forward, us every American.
4 should, to being themselves owners of
property were convinced that their host
Interests would he served by maintain
ling a currency system which recognizes
Sthe rights of every man TO all his pos
sessions. They argued that if the pres
fent silverite and Populist demand FOR
the confiscation of half of the property
sSof creditors should be granted, it would
not he long before there would be an
other socialist agitation for the confsca-
lion OF all property, and they therefore
refused to favor scheme which threat
sened to destroy all their hopes Of a pros
porous future. II is for this reason
4 above all others that schemes of repu-
Z citation and attacks OIL property owners
I can never secure permanent footing
In this country.