The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-03
underlying them have failed to

principles underlying them have failed to
control and regulate them.
me question TO which the friends OF
tile maintenance Of a medium OF exchange
OF unQuesuoned and unquestiOnable value
must address themselves is not how to
temporarily defeat the advocates of free
coinage OF silver as they now present il,
Dut now 10 permanently insure the cOun-
Try against the danger which would flow
from crystaliZng into law any none
Itrg suggestion which is based in whole
OF on n part upon the doctrine Of tiatism.
Such a result cannot be attained by
elther sco1ng at their leaders or under
esthnatlng the sources Of strength OF
thoSe VINO range themselves under their
banners. As long as they have the en-
thuslasm which springs from belief in
their lessening the woes of the debt-bur-
uened classes to urge them TO effort, and
the encouragement of the timorous and
comprosming in the ranks of those who
oppose them, they Will continue an ac-
i've force in monetary agitation and an
element in American politics that war
rants recognition and sturdy opposition.
The forces of fiat silver currency of ir-
Iredeemable paper and their populistic al
lies can De permanently eradicated as fac
tors worthy of consideration and sources
or discomfort and financial loss in but one
way, and that lies through the gateway
OF sound monetary education. To this
work the individual and the nation 5 good
demands that in season and out there be
Such labor performed as shall at no dis
talt day result in their being beaten
squarely upon the issues for which thew
stand and the country rid of the disasters
attendant upon their hope of ultimate
Discussion Of the currency came in an
9ropTlately as part of Mr.. Depew S
discourse upon his topic He said: :
Ihere never should be any doubt as to
rency should be such that the world would
recognize 1t upon a common standard.
II is said that the debtor can pay his
debts more easily in deprecated currency.
There is an easier and quicker way and
that is not to pay them at all The
United States is a debtor, national, mu-
nicipal, railway and individual, to the eX-
tent of about fourteen billions Of dollars.
We have developed our marvellous re-
sources with this borrowed capital. OF
this sum one-third is held abroad A
seventy-hVe cents or at fifty cents on the
dollar would lead to two thousand or
three thousand millions of dollars of Sc
curltleS coming nome here for us to take.
The presentation of them in our markets
would endanger the stability of every
bank, derange every exchange and para
lyze every industry in the United States.
The fiat of the government cannot make
paper of value, nor silver of value, nor
copper of value, nor gold of value. though
1t may compel any or all of them to be
taken in payment of debts within the
limits of the United States. There can be
but one standard of value and that is a
metal which will bring the same price
whether it is in the bar or has the stamp
of the government upon it. If the promise
of the government to pay a dollar is to
be redeemed at the treasury in a coin
which is worth one hundred cents any
where in the world, then the dollar which
pays the laborer for his work and the
farmer for his wheat. and the merchant
for his wares represents the full value of
the labor and of the product for which 1t
is paid. Anything less as money ruins
our trade with foreign countries, robs the
wage-earner and producer, and makes us
a nation of spectators. But, gentlemen,
I have no time to discuss the question. I
simply hint at 1t as the one which, unless
settled will make impossible that pros
perity for which we are all longing and
nraVing''