Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1895-12-06
WHAT DID IT?
CHEAP DOLLAR IDEA CHECKED.

Right of Property Attacked by Silver.
ites-FallscIcs aud False Statements o.
Silver Mine Owners Exposed.
Various causes have been given for
the rapid decline in the free silver sen.
timent, which less than year ago
seemed destined to sweep everything be-
fore it. The mastery exposition of tho
fundamental principles of the currency
Question by Secretary of the Treasury
Carlisle in II series of speeches has
doubtless done much to check the free
coinage idea. In the southern states an
advance of over TO per cent in tho price
Of cotton destroyed the solo argument
of cheap cotton OH which the silverites
relied for their support by farmers and
planters Throughout the whole country
the educational work Of sound currency
clubs and similar organizations, aided
by the sound money press, has exposed
the fnllacics and false statements
through which the agents Of tho silver
mine owners Ind secured following
for the cheap dollar scheme.
These different agencies have all con-
tributcd to the rout of tho 10 to sill
veritcs, but II more potent influence
than any or all of them was tho recoR-
milton by the American people of the
right of property and the hopc of every
citizen to be some day property OWL
en- In the progress Of the currency dis
cussion it soon became evident TINT tho
free coinage agitators were really ut
lacking the right to hold property, and
that their arguments against tho gold
standard and the creditor class" were
directed against tho natural right Of
lenders to receive back from their debt
ors as much property as was loaned
Tho Populist papers and tho speeches
and pamphlets Of tho moro rabid silver
iics were filed with dcnuncintions of
capital, rich men and bankers so TINT
the Issue between gold and silver was
generally dropped for the wider ques-
ton of the poorer classes against tho
wealthy.
Fortunately for the cause OF sound
money, tho great majority of the people
of this country OWL property or hope mt
some timo i'll the near future to bo prop
crty owners. When they were asked to
support financial policy which would
enable all tho debtors of the country to
repudiatc onchalf OF their obligations
thus practically taking by law half of
the property Of all creditors, they
promptly answered mo" Those who
had little money loaned out to IL bank
or to individuals; all who hold pre-
niiums i'll II life or fire insurance conpa-
ny or'were i'll any other why creditors,
saw that they could only be injured by
tho adoption Of so cent dollars
On the other hand, those whose bust
ness was carried OIL by borrowed money
knew that although thoy might be tenn
porarily benefited by financial rcpudia-
ton, yet when they again wished to
borrow no ono would lend, while all
who look forward, us every American.
should, to being themselves owners of
property were convinced TINT their best
interests would bo served by maintain
Ing currency system which recognizes
tho rights OF every man to nil his pos
sessions They argued that if tho pres
ent silverite and Populist demand for
tho confiscation of half of tho property
of creditors should be granted. it would
not be long before thore would DO nn-
other socialist agitation for the confisca-
ton of all property, and thoy therefore
refused to favor scheme which threat
ened to destroy all their hopes of pros
porous future. 1t Is for this reason
above MI others that schemes of repn-
dlation and attacks Oh property owners
can never secure permanent footing
i'll this country.