The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1895-07-24
HOKE SMITH IN GEORGIA.
Els Address in Advocacy of the Finan cial
Policy of the Administration.

Els Address in Advocacy of the Finan cial
Policy of the Adm nistration
GAINESVILLE, Ca, July 23.-Secretary
Hoke Smith, OF the Interior Departs
ment, delivered here to-day the first OF
series OF three addresses In Georgia on
the financial Issues. He had O large
and attentive audience. Mr.. Smith
spoke in part as follows:
| am here in response to your invita-.
tion to discuss the financial problem /
shall support the national Demo cratic
platform and oppose the nationsl plat
form Of the Popuists. At Chicago in
1892 the Democratic party, by it's repre-
sentasives for the entire Union, voted
down overwhelmingly the proposition
OF delegate from Colorado TO insert n
the platform the word "free"-which
would have made tho platform declare
for free coinage OF silver. The plat
form adopted, when honestly construed,
condemned the free coinage OF silver at
lo TO /, and the delegates, on the rst
ballot, nominated by two-thirds vote,
as the standard bearer of the party one,
who, In 1885. by message to Congress,
had opposed both the free coinage of
silver and the Bland-Allison act, and
who, later-on February 10. 1s9I,-asa
private citizen, in public letter, de-
clare the "experiment of free, unlimited
and independent coinage Of silver" to
be dangerous.
The speaker sad he would not waste
time following the wordy harangue rec
gently delivered in Georgia (referring to
Senator Morgan's speech for free silver
by that patriot who served his country
with such distinguished success abroad
as the appointee of President Harrison
In the nrOtac tfOp ne fur eaalc
He then touched on the panic, one OF
which, he said, occurred about every
twenty years. Every panic, he said,
developed party Of bad money, but
with returning prosperity the party had
died. Next came discourse on money
and the different kinds. the exchange
able quality OF which WAS not the stamp
OF the Government but the value of tho
thing Itself.
He claimed that the alleged contrac-
ton OF money OF final payment had not
taken place and free coinage OF silver
as remedy would drive one-half the
money now in use out of circulation and
produce contraction rutnous in its re-
suit. He claimed that the act OF 1873
did not remove one-half the money of
bnal payment and claimed that at that
time the only silver coin in the United
O'NsSo "ap ouOoAoi0i ollfcE
to Sl7, 900, 900 not good for payments of
debts above IS, while the gold then
coined amounted to only Sl35, 900, 900.
Now. he said, the coined gold In this
country amounts to 867S, $50, 900 while
standard silver dollars numbered 49,
2S9. 900 and Subsidiary silver amounted
| to S76. 772, 900.
He contracted the per capita Of circu-
lstion Indifferent periods in the history
OF this country. as we'll as the per
capita OF the United States, with silver
countries. He analysed the claim that
the appreciation OF gold has depre ciated
the value OF products and claimed that
the average depreciation of commodi-
ties since 70 has been only 90 per cent.
while silver has fallen In value so peg
cent.
He produced figures to show the
enormous production OF silver in the
United States; reviewed the history OF
the characterization of silver by other
nations, and predicted 9 long chain of
disasters to the people II the United
States should decide in favor OF the free
coinage OF silver on basis of l6 to 1.
In conclusion he said:
ut Is source Of qualification to D en-