The herald., 1895-08-01
THE DECLINE OF THE SILVER CRAZE

Every few years craze OF some sort
seems to take possession of the people
and for time becomes the fad OF the
day. However, it only requires that a
subject should come squarely before the
American people, when they accurately
diagnose the case and dis pose OF it on
merit
We had an era of Knownothngism. we
have seen ''copternead" days and again
a greenback craze, a Bellamy fad, period
of Populistic idoicy and incidentally
free silver craze. All these ideas for a
| time were popular and seemingly received
the appreciation of a great many sober
minded people. However. when the
American people once get their thinking
caps on they soon hunt out the fallacies OF
the doctrine and explode it.
The free silver idea was lately brought
| into prom minence by the panic OF 1893,
| and is now dying out. because the people
| have had time to reason the matter out.
| The study of the rise and fall OF the many
wild money" schemes that have been
sprung on the people is an interesting
one. Secretary Hoke Smith gave the gist
of the matter in his recent speech at
Gainesville Ca, when he said: every
panic has developed party in favor of
bad money. but with returning prosperity
the party has dieu.'' 1t is ce rtainly true
that the panic of 1898 developed "bad
money party, aud it is equally true that
the same is OH the rapid decline since
the revival of prosperity has set In this
summer. But the, bad money party of
'93 was not so powerful as the one born OF
the 1878 panic. and which practically
stampedeu both of the great political
parties and procured the passage of a bad
money bill through both houses of con-
gress in 1874, which was only prevented
from becoming law by the veto OF Pres
ident Grant.
No candid observer OF the trend Of pub
lie sentiment throughout the United
States can doubt but that the tide of pub
lie opinion is everywhere setting against
the free coinage of silver at 16 to 1. Ever
since the Democratic state convention in
Kentucky pdt itself squarely on record in
favor OF sound money, there has been
quick reversal OF sentiment throughout
the south from the free silver idea to the
one for sound money. No better index to
the situation need be asked for than the
the silver side to the support of sound
money. Since the Kentucky Democratic
state convention three of the leading
newspapers in three of the southern states
have Topped from the fee silver side to
sound money doctrine. These papers
| are the Vicksburg Commercial Herald in
Mississippi, the Nashville American in
Tennessee, and the Little Rock Gazette
| in Arkansas.
To cite the attitude taken by one of
these papers will be sufficient. The Little
| Rock Gazette says:
The farmers of Arkansas who have
been laboring so hard for years in search
of markets for their fruits and vegetables
and other products, and who have Just
] found them, can hardly be expected to
sanction a radical change in the currency
| system of the country that would cheap
en- the dollars that they are now receiv-
| ing for their varied and valuable crops.
| Agriculturists IN other states where in
terest in the general welfare of the ma
tion has not beon wholly abandoned feel
| the same way, and those who are Demo-
| Gratis will not lose sight of this fact when
| they instruct their delegates next year
| how to vote in the national convention of
! their party on question to debase the
| finances of this prosperous republic. The
| instructions will surely not be in line with
those dictated by the mine owners of
| Colorado.
Colorado has long been considered the
free silver Gibraltar, but even there a
revolt from the cause nearest the political
heart has been made. The Durango
Democrat has come out bodily in an
editorial headed, A Confession Wrung
From Conscience, saying:
I Kentucky has spoken. Her honest
stroke in support of the gold standard
sounds the knell of the silver humbug
within her borders, and sets a good
example for other states.
| 1t is time. for the sake of Colorado's
reputation for honesty. if not Tor com
mon sense. that some one in authority
should disabuse the minds of eastern
and foreign investors of the notion that
! this whole state has run silver mad. 1t
| is true that the Dem ocrat has ioined with
other newspapers in Colorado for reasons
which need not be specified here. in
booming" silver, while everybody knew
that it was steadily and irresistbly ON its
way down Mill. But the limit has been
reached. Conscience revJts, as decency
/ long ago revolted, against carrying on
| this fraud any longer
We know that we shall be cast out of
| the congregation of the faithful for the
| plainness of our speech, and that there is
no sinner in the silver west too mean to
| JOIN IN Stonlng US for our untlmely
| t,uthtulness. But there is not an in
| telligent and educated reader within
reach of these lines VINO does not know
| that every word that we have penned is
| downright. solid, unassailable truth.
| Bankers, merchants, mechanics, farmers
we do not rule out any of these class es.
That the Democrat has taken move
| in the right direction and has correctly
/ sized up the situation to the effect that the
craze is subsiding in Colorado is evident
from the failure OF the recent "mass con-
venton" at Denver. The number who
responded to the call for the "mass con-
vention" was sad disappointment to
the free silverites, and it is not to be
wondered at that they are now beginning
to class their theories among the lost
| causes.
! Iowa was once classed as an out west
state, and longtime habit makes many
eastern people still speak of Iowa as
| part of the west. AS matter of fact it
| is really one of the central states in point
| of situation. Iowa has for years also
| been the central point around which
many great issues of the country have
| been drawn. Iowa has been sort of
storm center for every popular delusion
| that has been sprung upon the people OF
! late years. When the silver craze OF 1873
| was started. Iowa was one of the first
states n which the idea tOok deem root