The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-06-11

lievina IN single standard You can
easily reconcile these two statements. Gar
! Isle believes in gold standard and that yon
must buy ali the silver you want. So he
Is a b-u-y-metallist. Gatherings believes
in silver by way Of international agren.
ment-silver by and by. So he is by
metallist You have 60 read It, for II you
hear It you cannot understand the kind Of
bimetallists these men are 1t Is all In
tho spelling. Talking about the value of
credit let us suppose man has q lot
worth 1000 and that he erects on that lot
house worth s4, 900 more, making house
and lot worth SO, 600. A promise TO pay
is just AS good as money, they tell you. II
you burn the house down and give amort-
gage on the land for 81, 900, you are just
as we'll off as before. That is their argu-
ment 1t is very encouraging doctrine.
1t gives you chance to take life easy.
want TO call your attention to rea-
sonable proposition. Mr.. Carlisle says there
was no demonstration of silver because
silver is still legal tender. so is the
greenback. If we have gold standard
and limit the coinage of silver and redeem
It in gold, what advantage has silver over
the greenback9 Mr.. Carlisle said he
thought the government ought to go out
of the banking business They consider
the greenback as a sort of banking paper.
They think the greenback should be with
drawn so the banks could issue their own
notes. That is what Mr.. Carlisle believes.
Some of you people in my audience be-
lieve in state banks of Issue. Some who
are opposed to national banks believe in
bank notes because you think you can get
local currency and special local notes
that will be good as far as they are known
1 want to say that you have no more
chance of ever starting a state bank of is
sue than you have of raising the dead who
sleep in the graveyard. ID
do not speak of what is desirable, but
of what Is possible. You have tried It
over and over again, and if you arc going
to have any bank of issue it will be the
national bank system. Mr.. Cleveland said
in his message last December that the
ideal relation of the government was to
go out of the banking business; that the
issue of paper money was the province of
the banks. How poor Tom Jefferson
would have been gratifed in his grave If
he could have read that and seen how fer
wrong he was He said that the govern
nicnt ought TO interdict both state and ma
tional banks from issuing paper none.
He said the Issuing Of paper money was a
governmental function and that the banks
ought to go out of the government bust
ness.
National Bank Trust.
] am not here tonight to discuss elabo-
rately the issue of paper money, but have
not met any class of people yet whom
would be willing to trust with the right
TO say how much money the people should
have. Talk about your trusts-there new
er was one which approached in it's power
to harm a trust which could control the
volume of the currency. 1 am surprised
at man who advocates the giving Of this
important function into the hands of the
banks. Tho contraction of currency does
mean something. And yet they want to
put in the hands Of private persons this
power. Blaine speaks of this contraction,
and so does Sherman. You will never
have to meet greater problem, and there
is no question you can better afford TO
study and understand. About the only
sound proposition stated by Mr. Carlisle
in his speech yesterday was that people
should study and understand this ques-
ton, and venture to say that if you fol-
low his advice in that respect you viii dis
card all the remainder of his speech.
These gold standard people tell you that
the volume Of currency has nothing to do
with the prosperity of the people; that
we have too much money now, and that
we ought to take steps to prevent the vol
ume becoming greater. Senator Mills If
Texas, in q rpecch made In 1886, showed
the insufliciency Of our volume of money
,,,I he IN boy,oiy,c, fh,
ne of money And yet Mr.. Carlisle and
those who stand with him go before you,
and in the nalne of tho laboring ma
Iload for tho single gold standard. How
many laboring men listened TO his speech
as delegates to tho convention which in
7.tei lila IL fEcak? What labor organize
ton or laboring man ever commissioned
him to plead the cause of the wage earn
ers since he received his change of heart?
Who knows best what the laborer needs?
The laboring man belongs to the strug
Cling masses, which in 1873 he said would
profit even by the infusion of 50, 900, 600
per month into the currency of the coun-
try. Who said he had right to speak for
themg
Tho "No Debtor" Glass.
They have spoken for themselves. They
sent petition to congress signed by ey ~
leader of labor organization in this
country reciting the needs Of the situation
and concluding with demand for the i'm
mediate restoration of silver at the present
ratio. And yet Mr.. Carlisle speaks for the
laboring man and doesn't want you to re-
store silver for fear you would hurt the
masses. And we are told there
is no debtor class in this country Go and
tell that to your creditor, and he will tear
up your note. They tell you that the bank
ers are the debtors, and they tell you how
much the banks owe. OF course they owe
their depositors. III a man owes moro mon
ey than he has money coming to him, he
belongs to the debtor class. If more is
owing to him than he owes, he belongs TO
the creditor class. Every bank that be-
longs TO the debtor class is a bankrupt 1t
is insolvent If it is not insolyent, it has
dollar in bank for every dollar it owes,
and then it has its capital stock and its
surplus.
They will also tell you that the banks
would really profit by the free coinage Of
silver, but that the bankers just won't al
low themselves to be benefited because
they are solicitous about somebody else.
They will not profit themselves at the risk
of some one else getting hurt But the Ia
boring man is willing TO risk it. He is
xUillipy RI try IL and tha hankar is fyoino,