Pine Bluff daily graphic., 1895-06-02
No MORE ACTUAL MONEY.

"But, gentlemen. the free and unlimited coinage ol eilver would not secufe for the use of the people ut any tine any addition to their stock of actual money, out would simply give them less valuable money than they have now To eal 1O-eent piece dollar and declare it ID he the standard of Saiue would add notbing whatever to It's purchasing poWes, 1t would still require ten l It them to purchase what real dollar would purchase now, and prices oI eommo' 5tties expressed 11 dollars would appear to 0ave been iuereeeed tcH-fold, when, iii fact, thing " opld hare happened cSeRpt tho de. basement of the dollar D actual increase tn prices Iesui;iDg from an increase in the volume ot soaad moaty iH cIreplation is quite Q diffeTent thing from nominal Increase of prices resulting frem the use 0f a depreciated currency, aud nc argument npon tine subieet of prices can be aound that Gocs not recoR- nize the distiBeti1p between them. The proposition ef=ous free coinage friends is ta dOubIe pr.ces Domineiig, bat nt the same lime to have them raid in money intrinsi- ealiy worth only oHc-haif ae much as 1t wes before tio prices wtre doub'ed, and confess my inability 10 see how this would help any bOdy
 HIS OWN RECORD oH SILVER
 You hare l,oen detained too long aI ready. but in view of tbe determination exs hibitsd in some quarters to criteise my per sonal record upon ihig question rather than l answer my arguments, l think my cid friends here at n,y own home hare riaht to expect at Irasta brief referenre 10 that subject l. is proper. in the 1rst place. 10 say that my opposition to free eoIpase is not dictased by any pref Hdlce against the Hse ag silver as the standard o} vaiue merely hecnuso 1t is silYer. nor by any preference fOF he use of gold as the standard money merely because it f. 0oid, for II the conditions How extsfing were reversed. if silver was OUT atandatd uf yaine nhd gold dfpge- ei9ted in value as silver now isl ould be as much opposed ta J ehunee from silver ta gold as now Co a change from gold to silver.
 "The preservation of tbo existing none tary unit and measure ol value upon which l the contracts of the people and the ages of labor have been adiHsted Is the vital thing Involved in this controversy. for if tho 1 standard is preserved everybody Is willing to Use and will use everr available form of currency thateAn be kept equal to 1t in value. As long as there appeared to be reasonable ground for the hope that silver could Ire raised to parity of value with gold ut the ratio of 16 to by the separate action of the United States, waa wiling to mako the experiment, but was never willing to make it hy legislation providing for the free
 
 any other ratio.
 ''The only speech I ever made in congress on this subject was delivered n the house of representatives more thBU seventeen years ago. at time when the value of the bullion contained u silver dollar sas only about ' cents less than thevalue of the bullion con tained in . gold dollar, and 1, together with many other opponents oi free coinage, be- 1 lieying that restoration of silver to our hints would bring it to parity with gold. supported measure providing for the i'm i lted coinage Of silver dollars on government account, not on account nfprivate Individ- uals and corporations, as ls now proposed.
 COULDN'T HOLD UP SILVER. 1 IF fteen ysars' experience, however. de- i monstrated that those af us who believed in 1 1878 that larger of silver by the Uni 1 ted States would enhance Its price value were mistaken Instead of increasing the i price oi Eilver, it contnued to fall with greater rapidity than before, notwithstand- Ing all tho efforts mada by our goyernment to unhotd It. until now the bullion .cont aimed