St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1895-06-07
THE SILVER QUESTION.

At the meeting Of the Board OF Trade
on Monday evening there was an inter
esting discussion by various speakers on
this live question.
Prof. Hardy explained the ratio of sill
yer and gold previons to 1877, and the
disadvantage to the creditor of having
bills contracted on gold basis paid in
deprecated silver.
DR.. Bullard said that 80 tons of silver
were mined to one Of gold in 1873; and
II tons of silver to one Of gold in 1894.
He wanted the buying of silver to go on
with some restrictions; he did not wish
for absolute free coinage.
w. L. Pearl then made few remarks
about prices being governed by supply
and demand. He believed in good silver,
good gold, good paper-any kind
stamped United States should be worth
a dollar, and the United States should
pass laws to this effect.
Congressman Grout made the speech
of the evening, and was listened to with
great attention. He said he was not a
silver man on basis of 16 to /. We
cannot safely coin silver at that value.
Ten dollars in gold will buy silver bull
lion enough to coin thirty silver dollars.
He believed in using silver but in keeping
it on parity with gold. 1t is a matter
of history that in 1884 the gold dollar
was reduced in value to make it equal to
silver. Before 1873 silver was at a
premium, and the reason given for de-
monetizing silver was that it was not in
use. After 1873 production increased
and became enprmous; and a~demand
came for its recognition. General Grout
said that gold and silver should be kept
together, but he showed that it is law
of finance that the least valuable dollar
drives out the best. The rich hold the
gold; the poor the silver, and the poor
are the first to suffer from this state OF
affairs. The cure is for the American
people to keep both good Foreign cred
itors demand gold in payment for goods
and refuse to take silver. The United
States must pay in gold, and must either
buy it of bankers or pay premium to
settle their debts. An agreement might
be made with other nations to take sill
yer if one standard is used. He believes
it will be done by the next republican
congress by providing that those coun-
tries which will accept silver in paymen-
for debt shall have concessions i'll our tart
| iff laws to them. He said that we are in
debt to the rest of the world and that
English gold holds the world. Coin S
Financial school, was characterized as
tull OF sophistry and falsehood from be-
ginning to end, and absolute shipwreck
is ahead of the nation on a free silver
basis. The height and depth of the free
lar, and compel other nations to accept
it in payment of our debts.
The fact that there is plenty OF money
in circulation to transact all business
and serve all purposes, was dwelt on,
and the cause of panic and loss OF value
lay in lack of confidence The great
point is to keep the money good. The
poor man was emphatically stated to
be the one to suffer if money is poor.
The want of confidence was because OF
the free silver heresy, but if the American
people will stand resolutely to the work
and maintain gold and silver standard,
the occupation Of the free silver agita-
tors will be gone.
A resolution of thanks to Congress
man Grout and the other speakers was
put and passed.