The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-27

And what are the odds In the bet that
every business man or woman and trus-
tee will give who leaves out standing a
dollar on deposit In bank or. In loan or
any kind? II he decides TO have his
money In bank or out at interest TO await
the result of the laws going into opera
ton, and II Coin Is right and there Is
no panic, then he wins; he makes few
months interest. let us say for an aver
age, 6 per cent. of his principal. In all
other respects he will be no better Off than
he Is now. His money is as good as gold
all over the world now, and 1t Will be no
better then. AZ
But what does he lose IL Coin is mis-
taken? He loses 30 per cent. OF. his prin-
cipal. All his American dollars have turn
ed Mexican. So the depositor who leaves
his money in a savings, or any other BANK,
awaiting the operation OF that law bets
10 TO / upon the accuracy of Mr. Harvey 5
opinion. And, not only that, but ne pets
IN addition odds of 80 to that the great
majority of people viii take the same
views and risks that he does and that
no panic will ensue which may bankrupt
his bank or creditor and lose his every
dollar.
space forblds my pursuing the subject
further, but nothing can be clearer thah
the fact that the real title 70 an act 70 es-
tablish free coinage should be an act
70 induce all QepOSlIOIS III All DotNo ~
withdraw their deposits. and all creators
who can enforce the immediate collection
OF all their loans, before this act can
become a law-and the devil take the
hindmost." -
have said nothing about the effect OF
the law upon our European creditors, Dut
thew will not be in the tail of the process
sion of those coming for their money WINE
1t is yet good.
'srhe 20 It alone" people hold out TO
us silver miners that we can under such
a law practically get from the United
States treasury twice as much gold Tor
our silver as we do now. Were the privi-
lege confined to our native silver we might
believe In it-for a while. But the great
hankfng houses of the worldwide bring
or send gold across the Atlantic for
tenth of / per cent. would have several
hundred millions of silver in the treasury
before our united mines could dig up one
million. In fact, cable lines and steam
ships have made one great market OF the
whole world, and 10 per cent profit on the
purchase and transfer will flood any one
country with whatever can be had in any
other. whether 1t be gold, silver, cotton,
wheat and rice, or rare products Ike ele-
plants teeth, rubber. ginseng, orchids,
etc.
Clearly Il Is utterly impossible for any
one country to enjoy bimetallism alone.
When Il comes II Will benent most Mexl-
co, South America, India and China, for
none Of their silver coin is now as good
as gold while all of ours (some FIVE hun
bred millions) Is so already. II we philan-
thropically pull out the chestnut for them
and practically double the present wages
OF their millions Of pauper laborers, what
effect will II have upon their production
OF cotton, wheat rice, etc, which now COM
pete with our own productions in the mar
kets Of the world? 1t Is not easy to fore
see.
But It is easy 70 foresee that vote 70
go Il alone" IN free coinage, Is vote
10 bring on Immediately a universal liquid
alton Of all debts that we owe 10 each
other az home, and 70 all nations abroad;
for the simple reason that too many peo-
pie believe Il will fan, and too few people
can AFFORD 70 risk enormous odds on the
experiment. Those who ask us 10 vote
Tor free coinage should show " the adj
vanfages Of stopping the banks from
carrying manufacturers and moving crops,
or lending money for any purposes; and
hoW that state of affairs o. % raise wages
ana decrease the number % unemployed
and put an end 20 strikes ana riots ana
advance the value ~ corn and cotton On