The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1895-06-20
OVATION TO CARLISLE.
Democrats and Republicans
Gree: Him In Louisville.
OVER SUPPLY SILyER'S CURSE.
The Secretary Declares That Adverse Leg.
isiation Has Not Caused the Depreciation
In Value of the white MetaI-United
States Can't Act Alone.

sonal following of Secretary Carlisle in
this city and the keen interest felt by
all classes in the currency question filed
Music hall last evening with such a
crowd as Louisville never before saw
Gongregated on a similar occasion. Nor
was the meeting a gathering of Demo.
Gratis to honor party leader. Repub.
licans were out in force, and on every
conntenance could be seen the desire to
learn. Nearly all the Democratic
candidates were present. Promptly at
s o'clock Mr.. Carlisle came and was
presented by Charles II. Long His re.
ception should have satisfied the most
expectant. When the tremendous ap.
plause subsidized, in his clear, incisive
voice, Mr.. Carlisle waded Immediately
into his subject.
He repeated his argument that the
undervalued metal would be driven out
of the country by the adoption Of bi.
metallic system, and at some length
paid attention to the claims that the
fall in the price Of silver was due to it's
decentralization. He said: at Is in.
sisted, it is claimed, that the fall in the
price of silver is attributable to the leg
islation in Germany, the United States,
France and various other countries
during and since the year 1873, and
most illogically it is also insisted that
Notwithstanding the reduced price of
that metal, the result of the unfriendly
action of a great many governments
acting in concert, and with settled
F,,ft COB al
restore the value of silver OF course,
If it required the action of II or l3 diff
ferent governments to bring the price
silver to its present state, it would seem
quite clear that not one of them alone
could restore it.
"If the depreciation in the value of
silver as compared to gold has been
caused solely by the adverse legislation
complained ,ot, it follows that if that
legislation had never taken place the
value of silver as compared to gold
would not be the same as it was in 1872
before that legislation occurred. What
then would have occurred? What then
would have been the result Not a
single dollar of full legal tender silver
would be III circulation in the United
States at this time or at any other time
since 1872, because at that time the
bullion con Gained in the silver dollar
was worth about per cent more than
| the bullion contained in the gold dollar
and the two could not circulate to.
gether.
The same law which drove silver
out of circulation under the acts of 1884
and 1887 would have kept it out and in.
stead of having in circulation among
the people about 1895, 900, 900 legal
| tender silver, as we have now, we
would have had none. The fan in the
price of silver was not due TO the legis
| lation complained of, but to an enor,
nous overproduction. The average an
nual production of silver in the world
during the five years next preceding
1853 was about 500, 100000; while in
| 1893 it was over $209, 900, 900, an in
crease of PIG per cent, much greater
| than the increase in business or popu
lation of the world. Notwithstanding
the fall in silver, silver mining con
tinues to be a most profitable industry.
| While the farmers and other producers
are struggling to live comfortably and
meet their obligations, owners of silver
mines have accumulated enormous for
tunes.
at is not necessary to discuss what
might be the effect of the permanent u
temporary establishment of an interna
tional ratio by agreement between the
| great commercial countries of the
world, because the free coinage people
repudiate the suggestion that any other
nation should be consulted, and all that
| is necessary is for the United States tC
proceed independtly at once. If the
| fat of single government is sufficient
to impart value to q coin or any Other
commodity, perhaps these gentlemen
are right, but the whole world has beer
wrong for thousands of years, and al
the labor and all the taxation to which
| the people of the world has been sub
jected in thespast has been unnecessary
and unjustitiable
THAT the fist of the government does
not make money was illustrated by the
history of the trade dollar. That was
coined free of charge and de-
| hvered swlthout expense to the
owners of bullion, and contained 3(
more grains than was contained in two
| half dollars or four quarters. 1t was
legal tender for all debts mp to So, inst
as half dollars and quarters were. The
trade dollar, more valuable intrinsically
but without the credit of the govern,
ment of it, sank to so cents, while the
less valuable of coins were maintained
at full par, What happened to the
| trade dollar would be exactly what
would happen to all other silver dollar:
if free and unlimited coinage were
adopted"
A Frankfort special says: Senator
Blackburn addressed large audience
here last night. The greatest portion
of the speech was devoted TO the severe
criticisms of Cleveland, Carlisle, Lind
say and the press.