The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1895-04-20

brought on can be cured by this eoun-
try alone, nor that any party or power
can any more disregard the difficulties
of the case than the Democratic con-
venton of 1892 did, aud which led 1t
to refuse to declare for free coinage OF
silver. Had our party acted other
wise, and succeeded in passing q free
col mage law, believe the result would
have been silver monometallIsm and
not bimetallism. Bimetalllsm means
the Ilse of both gold and silver as legal
tendtr standard money.
1t is conceded by all that II the
mints coined silver free at the present
ratio--l6 to 1.-The gold would cease
to circulate unless the silver bullion
Of the world would be raised in value
to sl.2S per ounce, so that II would
be equi valent to gold coinage at the
ratio OF I6 to l. 1t is a fact which
the experience of this aud other couu-
tries have demonstrated that II silver
Is coined free at valuation over It's
market value, even by a cent an ounce,
gold will not circulate with II, and
monometalllsm Is certain. This Is the
proof of the natural law that prohibits
the concurrent circulation of moneys
Of different value. SO, If free silver At
l6 10 I failed TO raise the price OF sill
yer as stated 10 the gold equivalent,
the country would Inevitably lose Its
gold. AS we have about s6OO,000,0OO
Of gold money, certainly no man ought
to commit himself to free coinage Of
silver unless II Is made plsin to him
that there would be no risk of driving
out of circulation this enormous sum
of money, which would, beyond ques-
ton, prove ruinous to all business.
Silver is worth little over half Of
S1.29 per ounce, aud the whole ques-
tion is, can 1t be raised to that figure
by free coinage Of this country alone |?
II IL cannot there would be silver mo-
uometallism and loss TO tho clrcula-
tion Of the country Of $600000,000 Of
gold. That snch would be the result
of the experiment | firmly believe. II
Is asking too much of the intelligence
of our people that they embark on q
venture so full OF possible disaster.
am convinced that silver monomet-
allism would involve trade restrictions
which would prove infinitely worse
and more incurable than the Mckinley
tariff, which our party has destroyed.
Against this weighty objection the
free silver ADVOCATES contend With
much versatility Of argument that this
country is great enough to 60 II alone,
and easily adjust its affairs to the trade
revolutions which they cannot deny will
ensue. Great as is my faith In American
capacity, do not believe the laws Of
trade, which have been the growth Of
ages, can be arbitrarily set aside, nor
can | deny that we are quite depend
ent upon the creditor nations. II IL
stated that this country Is now paying
interest on five billions of foreign gold.
But, tis asserted, that the consequences
feared from free coinage of silver are
greatly exaggerated that all dlfllcul.
ties aud ills would speedily disappear
uuder the wave Of resulting prosperi-
ty. For such speculative assertions
there Is unfortunately but little sup
port In monetary precedent and au.
thority. They might fail of verifca.
tion, in which event there would sure
ly be ruinous dislocation of all trade
and values. True the country would
return TO the beaten path sadder by a
stock of experience, which would be
mostly at the expense OF those least
able to bear 1.-THE farmer and labor
er-as our platform says, "the first
and most defeuseless victims OF un-
stable money"
1t Is also said that we, being pro-
ducing nation, would suffer least under
, commerce hampered by deprecis-
ted money standard. Trade and cur
rency are but the means by which
{ commodities are exchanged. The laws
aud customs which hinder buying will
. hinder selling. | cannot perceive the
/ force of the assumption that we, a
producing nation, eau dictate to our
: consuming customers. They are no
, more intent or interested In trade
as buyers than we are as sellers.
/ When II comes 10 trade exclusions be-
tween nations, 1t Is game that two
, can play. In fact, 1t Is only the imsg-
ination which finds any such differ
} ence In the trade relationships OF na-
tions. There are none in actual life.
/. In extreme zeal for the theory to
! which they are committed the Ameri-
) can people are even pointed, by the
free silver advocates, to the inferior
/ races of the silver mining countries az
models to initiate. II Is said that
! through silver they are becoming
. prosperous. Reference TO statistics
} shows that Mexico has per capita ol
s4.71, Japan $400, India 1888 and
D China $2.0S, all depreciating. Yet IN
, the same breath we are told that this
country with its $24.00 standard mon.
: ey per capita is in the lowest depths
[ that Its condition cannot be worse be.
. cause of the insufficiency on money In
/ circulation.
. OF all people, the cotton planters
: should weigh most carefully the argu'
: ments of those asking them to enter
upon this entirely novel aud over
D whelmngly important departure IL
/. trade aud finance. Their interests are
, msguified by the fact that they sell
over two-thirds of their cotton 10 gold
: money countries. The effect of setting
up silver monometalIism would be tc
. permit foreign customers to buy oul