The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-03-06
WHEN GREEK MEETS GREEK

1t transpires that the letter written
| by Ex-Governor Proctor Knott to ex-
| Governor Joe Blackburn, criticising
the financial policy of the administra-
ton. and pronouncing for free silver.
! and which was read before congress.
was a private communication. But
| 1.-The cat is out of the bag" and John
G.. Carlisle is boiling over with indig-
nation, threatening to stump the en-
tire state of Kentucky in defense of
his acts. In reply Knott comes back
| in the Courier-Journal in 4 three
column explanation which won't prove
very satisfactory reading to either
John G.. or Grover Stephen. As for
any defense that the secretary of the
| treasury might make, Proctor says
that there is nothing in the history
of the human family, since the fan
Of the primeyal pair, that stands so
Democratic financial policy. That
griSly Old veteran OF Kentucky chiyalry
grows ominously red about the gills
when he declares it has come TO a
pretty pass if a Kentucky gentleman
and citizen, sir is to be debarred from
expressing his opinions of this or any
other Democratic administration, es-
pecially when it comes TO the time
honored subject of the dollar of the
daddies," for which the honorable sec
rotary, up to the time of his alliance
with Wall street had always proved
50 open an advocate and defence.
citing a speech made by Nj. Carlisle
on February Dist, 1878. Come on,
John" says Proctor, land we viii turn
out to your gold-bug meetings to the
tune of When Johnny Comes March
ing Home in such numbers as will
wake the echoes Of the blue grass re-
giOns."
Having thus thrown down the gaunt-
let Governor Knott takes up the whole
question Of currency, in two columns
or more, showing the depreciation in
the prices of all products which fol-
lowed the characterization Of silver
Should Cleveland succeed in emacu-
lating silver of its legal tender func-
ton, retire J00OO0,000 of treasury
notes, and place the power of deter
mining the volume of currency in the
hands Of the robber barons, and the
> per cent of our people who already
own Il per cent of all the property,
and what would become of the masses
Of American citizens?
He makes the farther point, after
quoting literally from Mr.. Carlislc's
former free silver speeches, that with
gold the only legal tender the basis of
credit would be reduced by One-half,
while securities would be enhanced
double and veritable destruction of
values without compensation would be
the result. Again, the increase in the
purchasing power of money, from its
scarcity, necessarily implies a rise in
the rate of interest, and industries con-
Quoted on borrowed capital would col
lapse. An increase in the value of
money inevitably decreases all other
property values, therefore proportion
ately more labor to earn a less amount.
To demonetize silver and retire the
$500,000,0O0 of treasury notes, as rec
commended i'll Cleyeland's message,
would be followed by monopoly upon
the one hand and devastation upon
the other.
In all this and in much more that
Governor Knott says, he unquestion-
ably voices the convictions of not only
the people of Kentucky but of the
entire south, which on the silver Ques-
ton is at one with the west