The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-10

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Of the bullion value OF one hundred cents.
and the other OF the bullion value Of fifty
I one cents. Each being standard
/ money and receivable for all
l public and private debts the re-
suit would be as we have already seen,
/ 70 force gold out OF circulation and bring
/ this country abruptly to a silver basis.
| We would therefore not only dislocate
/ trade in all its branches. by the sudden
] change Of standard, but would be deprived
/ OF gold money amounting 10 more than six
/ hundred millions OF dollars which is abso-
I luteiy necessary to the commerce Of the
| country. II would bring about such
/ state Of business paralysis and distress
/ that the people would have TO struggle
/ harder for silver than they do now for
a gold dollar, and, when, they secured it, it
would not buy more than half the com
I forts Of life.
Our election OF the next president and
! the next congress will come of in No
I vembcr, 1885, and the congress then elected
/ viii not convene until the first Monday in
December 1897. 1t will be practically inn
/ possible 70 enact law TO change the
standard By the passage of an act for the
/ free coinage Of silver at the ratio OF 16 to
I Tor eighteen months after the election.
In the meantime every creditor would
/ force his debtor to a settlement so as TO
| protect himself from the impending loss.
! The larger proportion Of the mortgage in
dePtedness Is now payable in gold, and deb
tors, whose obligation were not, would be
forced either TO renew them payable in
gold or submit to a forced sale Of their
property.
If this government in a time OF pro-
found peace should. by law, deliberately
change its standard Of value from dollar
worth one hundred cents to a dollar worth
hfty-one cents, thereby debasing its money
and impairing the obligation of all con-
/ tracts for the payment OF money to the ex-
tent of forty-Tline cents on the dollar, it
would be accepted throughout the Christian
world as an act of national dishonOr. 1t
would debauch alike public and private
morals and so impair and destroy public
and private credit as to arrest the progress
and obscure the high destiny of the Amer
lean people
prefer gold as the standard because it
Is the money of progress. I challenge the
advocate of free coinage Of silver to look
abroad over the world, in either hemis-
phere, or on any continent, and name one
country where trade and commerce -four
ISM one country where the Christian vir-
tues enoble the lives Of men and women,
and from whence Christian philanthropy
sends out missionaries in the name of the
Master to subdue the world. one country
where the mechanical arts and appliances
are manifested in the development of in
dustry and enterprise; one country where
science Is laying bare the secrets Of nature;
one country where schools and colleges are
cherished; one country where intellect and
culture are in the ascendant; one country
where good government prevails: or one
country whore a days wage is sufficient
to maintain the man who earns 1t in COM
fort and independence, which has the sill
Yer standard!
Far be from me to insist that China is
China because it has the silver standard,
or England is England be-
cause it has the gold stand
ard. know this country was on a
silver basis when J aelSson fought at New
Orleans, and that Germany was silver
standard country when William fought at
Sedan. 1 know that in the past nations
have developed and prospered with silver
as the standard of value. This do not
! controvert, but, u do say and, saying It
/ challenge contradiction, that in the march
of progress and the advancement of man
kind TO a higher plane of civilization, cv-
cry enlightened country in the world has
/ elected the gold standard in preference to
| the silver standard.
prefer the gold standard because
| there is not a gold standard country on the
globe which does not largely utilize silver
| as money, whereas there is NOT a silver
| standard country which uses gold as
money at all. am aware that GOLD, as in
India, may be found boarded as in silver
| countries, but II is held as precious COM
modify, and il does not perform the func-
| lions OF money. assert, and again chal-
| lenge contradiction, that notwithstandlne
| the silver countries have two hundred
| millions more population than the gold
/ countries, yet the gold countries have more
| silver money in circulation than all the
| silver countries combined, while the silver
countries have no gold whatever. say
/ TINS Tor the benefit of those who have been
led to believe that the advocates of a
sound currency intended to strike silver
down as money. 1t is not true There is
not one of US, from Mr.. Cleveland down.
who Is not guided by purpose to retain
all our silver now coined in circulation,
but we want it as good as gold, and are for
holding it on parity with gold NAY, more
We favor the largest use of silver consist
ent with the integrity of the gold standard,
and to this end, we would gladly support
law eliminating from our circulation
all money below the denomination of ten
dollars except silver and silver certificates.
which, we belive, would enable the coun-
/ try to coin very soon all the bullion piled
up in the treasury and absorb it in our
| circulation.
/ prefer the gold standard because 1t is
| only IN the gold countries where a suffi-
cient volume of currency is to be found
/ to answer the purposes of trade and COM
! merce. Our populists and free silver
] ltithus constantly clamOr Tor more money.
ana If there is any one idea to which a
| populist is more welded than every other
it is the necessity Of a large per capita cir
culation. Yet, the advocates of free silver
are pursuing a policy which, If carried
out, would inevitably drive gold out and
reduce very largely our per capita circula-
ton. They have an idea that you must
nave large volume of money before you
can have agricultural, industrial and com
mercial prosperity, when the truth Is that
prosperity must precede, and not follow,
an increase in the volume of currency
The world, linked together by railroads.
steamships and telegraphy is one great
! commercial beehive and money seeks those
localities where ii is most needed. 1t GIBBS
| and flows like the tides of the sea. Where
| there is thrift and enterprise there IT goes.
and it recedes from localities where stag
| nation prevails. our own great country
! has per capita circulation of about TWEEN
/ ty~four dollars and this volume of money
/ flows in the direction where there is the
greatest need Of it. During time of panic
! and financial distress it goes into retire
ment and remains there until returning
| prosperity calls it forth from its hiding
/ place. 1t Is an automatic doctrine with all
/ sound political economists that CONNER
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