The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1895-05-09
THE CURRENCY QUESTION.
The Views of an Old Time An
drew jackson Democrat.
Gov. McCreary Of Kentucky on
the Issue.

The SENTINFT, has published frc-
quent articles in advocacy of free
coinage ofsilver, and also the strong
est arguments we could find, present
ing the gold standard. Below we
publish the conservative, sensible
views of an old time democrat, who
takes his stand Oh the late Demo
cratic national platform, and touche.
upon the issues that surround the stu
alton at present. Gov. McCreary
says
q have stood with my party all the
time. No Democrat voted with the
Democratic majority Oh important
questions more often Or more faith
fully than have in all the Years oi
my public life. The people in these
important times do not want wrangle
They want facts and arguments upon
a great and interesting subject. The
advocates of free and unlimited coin.
age of silver can make nothing by
bluster and assertions. They are de-
manding a change of existing condi-
tons and a great and important alter
alton of our monetary system. It is
their duty to present satisfactory rea-
sons in favor of the position they ad-
vocatc.
mo country in the world is now
SUCCESSFULLY MAINrAISING
The free and unlimited coinage of sill.
yer and gold, and no country in the
world has alone ever been able to
maintain any length Of time the free
and unlimited coinage of silver and
gold, yet it is proclaimed that the u.
S. can do that alone which no country
has ever done. There is danger that
free and unlimited coinage of silver
will lead to monometalism. Prosper
ity seems to be returning in our coun-
try, and we should do nothing to re-
tard or disturb it. 1t is perfectly
clear that the gold and silver coun-
tries Of the world have a large per
capita of money. The silver coun-
tries have very stuall per capita.
| believe the prosperity of our country
and the success Of orr monetary sys-
tenn demands bimetalisnl, an.l | am
opposed to both silver monometalism
and gold monometallism. | believe
that we should coin not less than two
nor more than four millions silver
dollars monthly, according to the ne,
of or country, beginning
with the silver bullion now in the
Treasury, This monthly coinage
,an be absorbed, and viii not injure
or disturb our monetary system.
The plan | am advocating is not new
With me.
"At the last session of Congress /
voted for bill to coin into silver dol
lars the seigniorage and silver bull
ion now in the Treasury, amounting
to s1o4,000,000, and | said in a
speech in favor of the Carlisle cur
rency bill, which / made last summer:
Il am in favor of coming the silver
bullion now in the Treasury which
our Government has bought and paid
for, and when that is coined | am in
favor of the Government, through the
Secretary of the Treasury, purchase
ing at the market price not less than
52,000,0 900, nor more than S4,000,000
in silver bullion every month, and
coming it into silver dollars. If our
Government purchased the silver
bullion at the market price we would
ret the seigniorage, and the people
would be benefited"
"In these important times
WE SHOULD BE CONSERVATIVE.
''No measure should be adopted
which would impair confidence, dis
turb values or injure the business in
-erests Of the country. Monetary con-
litions have changed all over the
world in the last 20 years. The pro-
luction of silver in the whole world
in 1870 was S55,000,00o, while the
production Of silver in 1898 was 5000
100000, and the production of sill
yer in the u. S. in 1870 was S16,-
100000, but in 1893 it was S717.000,-
900. Thus the annual production of
silver has quadrupled not only in the
u. S. but in the world, while the pro-
duction of gold in the world has not
much, being $130,000,000
in 1870 and S157, 100000 in 1893.
All the nations of Europe have
closes their mints to the coinage of sill
yer, Germany starting to demonetize
silver in 1871, and the other Euro
pean nations following in rapid sue
cession, India being the last to close
her mints to the coinage Of silver in
1898. The teachings Of experience
and history show that where one coun-
try alone has persisted in the effort to
free and unlimited coinage
of gold and silver it has come to sill
yer monometallism; therefore, when
we contemplate great financial re-
forms, we should admit the truth Of
history and submit to monetary laws