The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-04-26

ton of the farming and laborlng
classes, the first and most defense
less victims of unstable money"
After mature and full delibera-
ton, this resolution was agreed
upon in committee composed OF
Democrats from every State in the
Union, as one on which all could
stand. and after debate in the con
vention it was adopted with prac-
tical unanimity. Pending its adop.
ton, substitute providing for the
free coinage Of silver, exactly as
now favored by my opponents, was
voted down almost without a dis
senting vote. | have thus quoted
from our party law, Interchangeable
until the party again meets in ma
tional convention. 1t was endors-
ed by the Democratic press all ov-
er the country, and under it great
victory was won ! think | have
thus proved that | am no ''enemy
of silver" further than the Demo-
cratic platform is its enemy. and
| that | am not an unsound Demo-
crat by opposing the free coinage
of silver.
would preface what | have to
say on the currency question by
/ disclaiming all pretentions to a
mastery of the monetary science.
but | have, | think. reached a
right understanding on some sim
pie principles which have oeen so
abundantly verified that they are
in truth facts. These have led me
to distrust and reject the PROPOSE
ton that this country can effect
the full restoration of silver indie
pendent Of the great nations with
which we trade. | maintain that
this belief is entirely consistent
with bimetallism, and that enter
tanning it, ! am less monomctal-
I list, in fact, than those who favor
national free silver coinage. 1t is
int rational to consider the pana-
cea they propose without being
impressed by the fact that the con-
dition of silver is not due to the
acts OF this country alone. 1t has
been produced by the combined
action of the United States, Ger
many, Holland, Austria and the
lesser European powers and India,
all of which have closed their
mlnts to silver since 1873. cam
not believe that the wrong thus
brought on can be cured by this
country alone, nor that any party
or power can any more disregard
the difficulties ct the case than the
Democratic convention of 1892 did,
and which lei it to refuse to de-
clare for free coinage of silver.
He'd our party acted otherwise,
and succeeded III passing a free
coinage Jaw, | believe the result
would have been silver monomet-
alIism and not bimetall sm. BIZ
metallism means the use of both
gold and silver as legal tender
standard money. 1t is conceded
by all that if the minis coined sill
yer to circulate unless the silver
bullion Of the world would be rails
ed in value to 81 30 per ounce, so
that it would be equivalent to gold
coinage at the ratio of 16 to /
1t is a fact which the experience
/ of this and other countries have
! demonstrated, that if silver is coin
ed free at a valuation over its mar
ket price, even by a cent an ounce,
gold will not circulate with it, and
recommendation is certain. This
is the proof of the natural law that
prohibits the concurrent circulation
of monies Of different value. So
ii free silver at il to ! fAilcd to
raise the price Of silver, as stated,
to the gold equivalent, the country
would inevitably lose its gold, As
We have about $500, 100000 Of
gold money, certainly 10 man
ought to commit himself to free
coinage Of silver unless it is made
plain to him that there would be
no risk of driving out Differentiation
this enormous sum of money,
which would, beyond question.
=. prove ruinous to all business. Sill.
yer Is worth IA little over half of
81 20 per ounce, and the whole
question is, can it be raised to that
figure by free coinbge by this
country alone? Iii cannot there
would be silver nonometallism