The times. (Owosso, Mich.) 1882-1897, 1895-11-22
WHAT DID IT2
CHEAP DOLLAR IDEA CHECKED.

Right OF Property Attacked by Silver
ites-Fallscies and False Statements Of
Silver Mine Owners Exposed.
Various causes have been given for
the rapid de line in the free silver sen.
timent, which less than a year ago
seemed destined to sweep everything be-
fore 1t. The mastery exposition of the
fundamental principles of the currency
question by Secretary of the Treasury
Carlisle in series Of speeches has
doubtless done much to check the free
coinage idea. In the southern states an
advance Of over go per cent in the price
Of cotton destroyed the sole argument
lof cheap cotton ON which the silverites
relied for their support by farmers and
planters. Throughout the whole country
Pe educational work Of sound currency
Cubs and similar organizations, aided
~ the sound money press, has exposed
pe fallacies and false statements
through which the agents of the silver
mine owners had secured a following
for the cheap dollar scheme.
These different agencies have all con-
Sibuted to the rout of the 16 to sill
verites, but a more potent influence
than any or all of them was the recog-
qltion by the American people of the
right of property and the hope of every
cltlzen to be some day property own
er. In the progress Of the currency dis
cussion it soon became evident that the
free coinage agitators were really at
lacking the right to hold property, and
that their arguments against the gold
standard and the "creditor class" were
directed against the natural right Of
lenders to receive back from their debt
ora as much property as was loaned.
The Populist papers and the speeches
and pamphlets of the more rabid silver
ties were filed with denunciations Of
Capital, rich men and bankers so that
the issue between gold and silver was
generally dropped for the wider ques-
ton Of the poorer Glasses against the
wealthy.
Fortunately for the cause of sound
money, the great majority Of the people
OF this country own property or hope at
some time in the near future to be prop
erty owners. When they were asked to
support financial policy which would
enable all the debtors Of the country to
Iepudiate one-half of their obligations,
thus practically tax ug by law half of
she property of I'll creditors, they
promptly answered mo. " Those who
had little money loaned out to bank
or to individuals; all who held pre-
miums in a life or fire insurance compa-
ny or were in any other way creditors,
saw that they could only be injured by
the adoption of 80 cent dollars.
On the other hand, those whose bust
ness was carried on by borrowed money
knew that although they might be tenn
porarily benefited by financial repudia-
zion, yet when they again wished to
borrow no one would lend. while all
who look forward, as every American
should, to being themselves owners of
property were convinced that their best |
interests would be served by maintain
ing currency system which recognizes |
the rights Of every man to all his pos
SESSIONS. They argued that il the pres
ent silverite and Populist demand for |
the confscation Of half Of the property |
Of creditors should be granted, it would
not be long before there would be an
other socialist agitation for the confisca-
ton Of all property, and they therefore
fefused to favor scheme which threat
ened to destroy all their hopes of a pros
porous future. 1t is for this reason
above all others that schemes of repu-
diation and attacks on property owners
can never secure permanent footing
in this country.