The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-06-15
IN HIS OWN COUNTRY
Carlisle Still Trying to Mislead the
People Of the South.
HE STICKS TO HIS STORY
According to His Statement Silver
Mining Just Now Is Profitable
Industry. But Western People
Don't Think So.
HE STICKS TO HIS STORY

Louisville, KY, June 1.-THE large
personal following of Secretary Carlisle
in this city and the interest felt by all
classes in the currency question filled
the Music hall this evening with a
crowd as never before congregated on
a similar occasion. Nor was the meet
ing a gathering of democrats to honor
a party leader. Republicans were out
in force. Promptly at o'clock Mr..
Carlisle came forward. His reception
should have satisfied the most expect
ant. When the tremendous applause
subsided. 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
a bimetallic system, and at some length
paid attention to the claim that the
demonetization. He said: 1t is in
sisted. it is claimed that the fall in the
price of silver Is attributable to legis-
lation in Germany, the United States
France and various other countries
during, and since 1873, and most illogi-
cally 1t is also insisted that, notwith-
standing the reduced price of that
metal. Is the result of unfriendly ac-
ton Of great many governments. act-
ing In concert and with a settled pur-
pose. the United States can alone re-
store the value of silver. OF course.
if it required the action of Il or 10
different governments to bring the
price of silver to its present state. it
would seem quite clear that no one of
them alone could restore II. as. il de-
probation in the value of silver. as
compared to gold. has been caused
solely by the adverse legislation COM
planned of. it follows that II that legis-
lation had never taken place the value
of silver. as compared to gold. would
now be the same as 1t was in 1872. be-
fore 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 in circulation in the United
states at this time, or any other time
since 1872, because at that time the
bullion contained In the silver dollar
was worth 3 per cent more than the
| 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 instead Of having in circulation
among the people about 39s,OOO,OOO legal
tender silver dollars, as We have now,
| we would have had none.
The price of silver was not due to
| the legislation complained of. but TO
the enormous overproduction. Not
withstanding the fall in the price of
most profitable industry. Farmers and
| other producers are struggling to live
| comfortably, while owners of silver
mines have accumulated enormous for
tunes. 1t is not necessary to discuss
what might be the effect of the perma-
| nent or temporary establishment of an
international ratio by agreement of the
| commercial countries of the world. be-
| cause free coinage people repudiated
| the suggestion that any other nation
| should be consulted, and all that is
necessary is for the United States to
proceed independently at once. That
the fiat of the government does not
make money was illustrated by the his
tory of the trade dollar. That was
coined free of charge and delivered
without expense to the owners of bull
ion, and contained 36 more grains than
was contained in two half dollars OIL
four quarters. 1t was legal tender fol
all debts up to IS. just as half dollars
and quarters were. The trade dollar
was more valuable intrinsically. but
without the credit of the government
it sank to so cents, while the less val
liable coins were maintained at full
par. What happened to the trade dol
lar was exactly what would happen tc
all other silver dollars IL free and un.
limited coinage were adopted"
After his speech tonight the secre
tary was rendered a reception at the
watterson club.