The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-03

IN the report OF the JOINT debate al
Mobile Monday night between Hon. W.
J. Bryan Of Nebraska and Hon. r. II.
Clarke Of Alabama. which was published
in our dispatches yesterday. we DO not
find that Mr.. Bryan advanced a single
new argument In support Of silver. In
deed, we DO not think that what he offers
as arguments amount 10 such. What he
regards as the most telling features OF
his speeches are. apparently. the quota
tions he makes from a speech OF Sec
rotary Carlisle delivered in the Senate
about seventeen years ago. BY this time
Mr.. Bryan ought 10 have thought out
some arguments of his own in which
he has confidence.
There are two or three things in what
he said at Mobile which do not appear to
US 10 appeal very strongly to well in
formed men. one Of them is that France
for a period maintained free silver coin
age at the ratio Of 1919 to l. Wen, sup
pose she did. Mr.. Bryan neglected to tell
his audience, however. that at the time
that France maintained free coinage at
that ratio the commercial ratio between
silver and gold was about what the legal
ratio was. There was not, therefore,
much difficulty in maintaining free silver
coinage. But why did not France con-
tinue free silver coinage? If Mr.. Bryan
had answered that question he would have
been compelled to admit that she couldn't
Mr. Bryan now proposes that this coun-
fr1r han 10 ell
at the ratio of l6 to !. when the CONNER
cial ratio is about 30 to /. When he at
tempts to explain how that is possible,
he becomes very obscure. He says the
silverites intend to create a demand for
silver and thus raise the price of it. He
illustrates his meaning by saying that if
a man in town offered 20 cents a dozen
for eggs the price of eggs would soon
advance to % cents a dozen. and that IL
this country offered 1929 an ounce for
silver it would be worth that price.
1t is difficult to see how any clear
headed man can deceive himself by such
an argument. If the supply OF eggs was
practically unlimited how long could the
man in town continue 10 pay 20 cents a
dozen for them, unless he had a mar
ket for them at a better price? Mr.. Bryan
might as well have said that the prices
Of cotton, wheat and other products can
he raised by the same method by which
he proposes to raise the price OF eggs But
nobody would be foolish enough to ap-
ply that method, because 1t would mean
financial ruin TO the one that tried it.
The government might put up the price
Of silver to N.29 an ounce, and keep it
there as long as its credit lasted. And
how long would that last? Why, no
longer than it could give gold in exchange
for silver. When it could not do that
silver would sell at the price put upon
il by the world. And it should not be
overlooked that eggs used by Mr.. Bryan
In hts illustration are consumed, so that
they wholly disappear. thus making room
for the new product, while silver is only
put into other forms. 1t remains in the
shape Of coins and manufactured arti-
eles. Under the purchasing clause of the
sherman silver law the government I'M
dertook to keep up the price of silver, by
purchasing nearly the whole product of
the American mines, and It failed. The
price of silver steadily fell, and the sill
yer purchasing business came near bank
rupting the government.
But we do not for a moment think that
Mr.. Bryan is confident that free silver
coinage by this country at the ratio of
16 TO ! would raise the commercial ratio
of silver to the legal ratio and it is sur
prising that he argues that 1t would. His
assertion that debtors ought to be al
lowed to choose the coin in which to pay
their debts, shows that he is convinced
that the silver dollar would be a debased
dollar under free silver coinage, and
that silver, instead of gold, would be-
come the standard of value. He ought to
come out frankly and say that he favors
paying wages and debts with dollar
worth only 50 cents, instead of dollar
worth 100 cents.