Pine Bluff daily graphic., 1895-11-22
PINE BLUFF, ARK. NOV. P, 1895
LARGEST DAILY CITY CIRCULATION,
cARLIsLE ON CURRENCY.

No man in American politics occupies today more conspicuous position than John G. Carlisle, of Kentucky, Secretary of the Treas ury. The defeat of the free silver forces in the recent election has brought him into prominence as the champion of a sound currency, which cause he has ably espoused during the heated campaign of the past two years. Last Tuesday he made an address on "Our Currency System at the banquet given by the Chamber Of Commerce. of New York, at which time he said:
 No changes made in our currency system will afford relief unless it provides for the retirement of the legal tenders. The circulation of legal tenders has a tendency to drive out of the country the very coin in which the Government is compelled to redeem them; and it has expelled millions of dollars from our borders. Although the Govern ment and our own people are com pelled to receive them, they will not discharge international obligations, and gold must go out to settle all final balances against us. No other Government in the world is required to supply gold from its treasury to discharge the private obligations of it's citizens.
 tThe theories that the Govern ment can create money by placing it's stamp upon paper or other material; that legislative enact ment can make 56 cents equal in value to 100 cents; that artifiically inflated prices, paid in depreciated currency, are better for the people than natural prices paid in sound currency, and various other vagaries now floating like bubbles in the political atmosphere, are all directly attributable to the long continued use of legal tender paper. The proposition that a promise of the Government to pay moneyis money, is just as absurd as the proposition that promise to deliver a horse is horse. and yet there are eminent men high in public councils who believe that the United States promissory is not actual money, and that the statute which compels all the people to receive it as actual money is constitutional and ought to be continued in force. The agitation for the free coinage of legal tender silver is predicated upon the same vicious principle that underlies the legislation making paper money promise legal tender; but there is practical difference between the two systems. The United States note was forced loan from the people to the Government, which the Government promised to repay in dollars, but the free coinage of legal tender silver at the ratio of 16 to 1 would be forced loan from people to the owners of silver mines and silver bullion, without a promise of repayment by anybody.
 'sThe fact that the government is required to borrow money is an injury to it's credit and the credit of its people, but the injury resulting from this cause is insignificant in comparison with the ruin that would follow an abandonment of the reserve while the notes are outstanding, for all our currency would thus be reduced to the silver standard. 7
 In closing his address, the Secre- tal'y said:
 Let us have no more ambiguous phrases, 1a Spore inconsistent and irreconci1able cIausas in party platfotms or in public ntterapces but let us make our meaning so| Ez4 K