The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1895-12-07

q
lion.
Perhaps It IS supposed that sunicient rev.
nue. receipts would in q sentimental way i'm
rove the situation by inspiring confidence In
ur solyency and alIaying the fear Of pecunisry
xhsustion. And-yet ali Though our struggles
. maintain our god reserve there never has
cen any apprehension IS to our ready ability
0 pay our way with such money as. We had and
he question whether or not our current re-
mel our current expenses has not en-
cred into the estimate Of our solvencya. OF
curse the general state Of our funds exclusive
{ gold was eatirely fmmaheri.l to the foreign
and investor. His debt could only DO
In gold and his only concern was our abii-
ry to keep on hand that kind Of money.
I6asmueh n the vithdrawsl Of our GOLD has
esulted largely from fright, there 10 nothing
.pparent'that Will prevent its continuance or
with its natural c~onoequeuces, ex-
,epr such . change IN our financial methods -
resssure the frightened and make thoede-
ire for Rord less intense. It b not56lokf how
IN Increase in revenue. unlees ~ she In gold, can
70 satisfactory to those whose ouly anxiety isto
rain gold from the government'e store. IL oan-
rot, therefore, be safe 70 rely upou Increased
'evenues as Q cure for our present troubles.
Although the law compelling an increased
purchase of silver by the government was
oassed on the i4sh day Of July, 1890, withdraw
n of sold from the treasury upon the notes
rivon In aymen on such purchase did not be-
lin until October. 1891. Immediately following
hat date the Withdrawals upon both these
notes and United States notes Increased very
largely. and have continued to such IN sxtent
since the passage Of that law there has
been more than thirteen times as much gold
notes and treasury notes issued for silver pur-
rs was Withdrawn during the eleven
and half years immediately prior thereto. and
after the nrst day Of January, 1879. whom sps-
Gle payments we're resumed.
I have constantly Ind In mind ths fsct that
DO not doubt, insist that the cure for the Ills
now threatening US may be found In the single
and simple remedy Of the free coinage OF sill
YER. They contend that our mints shall be al
thrown open to the free and unlimited
and independent coinage OF both gold and sill
yer dollars Of full legal tender quality. regard
less Of thu action Of any other government ant
In full view Of the fact that the ratio betwesn
he metals which they suggest calls for IOU
cents' worth OF gold In the gold dollar at the
present standard and only SO cents In intrinsic
worth OF silver In the silver dollar
Were there Infinitely stronger reasons thar
can be sdducedl for hoping that such action
secure TOR US . btmetsllic CUR ENJOY NOV
Ing ON lines Of parity, an experiment so move
hazardous as that proposed might well
staRper those who believe that stability In an
condition Of sound money. Nc
government. no human contriyance or act OF
leaislatiou has aver been able To hold tbs
Two metals together in free coinage III
. rssio Am, ,cta biv ai1.r.nt from thas vhtch
h, estabiishs6 IN The marLet, of the World
Tho.e VINO believe mat our indenendant frcs
coinays ~ silver ~ nm artInciai ratio vith go,S
Io to 1 vould restore tina naritv betwreu IN
ana consaonsntIv hetveen tho coin, m
posc An ursupported INA imnrobab,e sheor,
~ The h.ues Ana wsr,Ics =, oth.r rat,ons ~
m tina world 10Th In the n.st an
nresent ana what is far mora concIusive the,
connt.r 10 our own sctusi srnerIspcss
Tvfce In our eariier history our law maLer. A.
attemntIng 70 estrblish q hi.etalIic currenc,
undertook free coinace-unon 4 ratio which n.
cidentsiiv varie. from the ac,u.i raj.
tivs Win. ~ ne ,vo m.,aI. NJ, mor. Tho,
erssx diascu,ti.s ana co,t Of transnortatio,
49, nov evfet ~. coirs vho.o irtrirsic wor,,
vere undervalued IN the ratio graduaIlv AM
sursiv 6isarnesrea from onr .ircrIstIor an,
vent IN other co,ntriss whers their rsaI vain
va batter recoonized. Acts OF congress- wer,
cnuses dseroed even n siiyht Ineoualitv Twic,
In our receut history we have sienally failed I,
raise bv leoislation the vaIne OF silver. IJnde
An act Of oongresn In 1874 the aousrnmeut wa,
reouired for mora than eleven wears In extent
~annualIv At least as8 m, an in Inc nurchasa 1,
siIver builion Tar coinaye.
The sct Of .Julv "a Issl I'm N still holder sf
fort Increased the amount of silver the gov
eminent WAS compelled to purchase ana forces
II to become the buyer annually of 81. 0Oo. 90
ounces, or practically the entire product of oul
mtnes. Under both laws silver rapidly an,
ste declined In value II prophecy On.
the Expressed hope and expectation Of thos,
in the congress. who led in the passage Of IN,
last mentioned oct that 1t would re-establlsl
opA rnatntnin fhn nrunA sa.ffxr hatuuaAu fh.
two metals are still fresh In our memory.
In the light of these ex De rIences. which &C.
cord with the experience OF other nations
there Is certainly no secure ground for the be
lief that an act Of congress could now bridg
an inequality OF 80 per cent. between gold an
least possibility that our country, which hs
loss than one-sevcnth OF the silver money 4
the world. could BY it's action alone raise nc
only our own but all silver, to its lost rsti
with Qold, . Our attempt to accomplish this bu
the free coinage of silver Mt n ratio dt6erIn
from the actual relative value would be th,
signal for q complete departure OF Rold from
our Circulating. the Immediate ana large cor
Traction Of our circulation medium and shrink
aQe In the real value and monetary e~fdcieuc
Of all other forms OF currency as they settle,
to the level Of silver recommendation.
In q self-invited struggle through darkness
and uncertainty our humiliation would be In
creased DIV the CONSEQUENCES t1nt We IA
parted company with eli the enlightened an
progressive nations Of the world. ana wer
desueratelv and honeleaslv striving To mee
the stress Of modern And comuetl
tion nth a dch,sed and ,r.s,asah,e cnrrency
and In ..socistiou ~,,h ,ne e.y ,y.sl ana las
gard nations which have siiver alone a. the,
standard OF value. All hiatorv warns d
arainst rash. experiments- which threate
violent CHANGES IN our mona arv standard an
d~egradation OF our currency.
The past IA fun of lessons. teaching not onI
the aconomic dangers mn, the national immo,
siItv that foIIows In the train Of sncb arner
man, will NO, heIieve tbat tho Amarica
Deonla can he narsuadsd after soher dslI,er,
tion m ieonardize, their nation's n-restigs mn
..c"s nntIa.- .n.a,..~in. erana ~
truns nor thst thew viii vieid m ina false =
Iurements az chesn nancy uhen thev real
that n must result in the weakeninv Of m,
a~napcial inteorItv ana rectitudo which m,
far in our history has been so deyotedIy che
ished as one Of the traits of true Americanist
Our couutrv's indebtedness vhether ovir
| nv the povernment ar existing between ind
| viduals' has been contracted with reference
our nresent standard. 80 dscrea NV ACT Of 90,
.r.sa ,ns, ,hesc aah,s .naIihe reyah,o In 10,
.aSrsni. dny.r. ,rsn ,hoss ui,ntn ,ha 90,
,smr,.ssor "a ir,ar,,on ~ ,hs nar,ias ~.
contractsd wo,,d nnerate 10 transfer nv =,
Nat =, Law and withont comnansa,ion :
smorn, ~ rrorart, and . valance q, riah,a
tn,eres,s almost incaicuiabie Thosa Who !.
nnca,. a Hind ana headiono n,ungs 70 r.
.osnaoa a. ,ha nama n, nima,.iiisn .ra NJ
ssss,rs tn belief conIrarv 10 All a
rar,arca that Va couId ,hus e.,al
itsh donh,e standard and
concurren. Circulation of botb mst,Is In n
.oina.s 90 csr,ainiy recI onin. from . cIou,
ssandroin, Our nrcsent staaSars Of value :
,hs ssandSrd os The c~ivilized World ana. No
nS,s M. oniv hlmeta,iism now nossib,e a.
Ia.st RAJ within the independent reach Of n,
sinoia nation however powerful thap natl,
l-... uuni,. ,ha yai,a =, no,a 4. % a s..,a.