Iron County register., 1895-05-09
WHY THEY OPPOSE IT.
Ex-Congressman De Forest od
Connecticut, Explains
The Hostility of the Eastern Democrats
to the Free Coinage of Silver On
the Sixteen-to-One Ratio;
II il Dishonest.

WASHINGTON, May 3.-The coinage
question still absorbs the chief interest
of public men of all political predilee-
tions in the national capital. The re-
ports from the west indicate the prob
ability of tidal wave in favor of the
free coinage of silver
A correspondent Of the New York
Evening Post, writing from St. Louis,
says that the silver sentiment, or. as
he calls it, .'craze," is spreading in Mis-
souri, and throughout the west He
says that silver clubs are being organ
lied in every town in the state. and
then throws out this gentle hint for
the information and guidance of the
New Workers.:
1T will take tremendous counter
influence to check this wave Friends
OF honest money in the east. especially,
should be kept thoroughly informed of
the status of affairs out here and in the
west generally and bring some sort of
pressure to bear to offset the work of
the silverites. The reform club idea of
sending honest money literature to
country papers is not altogether prac-
ticable. 1t could hardly be utilized in
this section for the reason that the
rural press in Missouri is almost unit
in opposition to the gold standard. A
good way for the honest money advo-
Gates to disseminate literature, it
seems to me, after quite an extensive
tour through the interior of the state,
would be through the local bankers
and postmasters of the country towns.
The banker is usually, if not always,
in favor of a gold basis, and the post
master would not object probably to
circulating little wholesome reading
matter presenting the views of the ad-
ministration on vital question.
Western men who come to Washing
ton inform the correspondent that
voice in opposition to the free coinage
of silver is scarcely ever heard of in
the west.
It might be said in answer to this
that eastern men can scarcely realize
that intelligent, honest people can
seriously advocate the free coinage of
silver at the present ratio. In order
that western men favorable to the free
and unlimited coinage of silver should
know what eastern democrats think
of the question, the correspond
ent invited ex-Congresman Robert
DeForest, of Connecticut. to ex-
press his views Judge DeForest
was member of the house during the
Fifty-second and F'ifty-third con-
crosses. There is not trace of mug
wumpery in him. He is an old-fash-
ioned, hard-shelled Yankee democrat.
H. ;e ;,t
first-rate ability. He could not under
stand why the silver sentiment should
be SO predominant through the agri-
cultural states of the west, but could
readily see why the free coinage senti-
ment should prevail in the mining
states.
His views may be considered as fair
ly illustrative of the state of mind of
the average New England democrat.
Said he:
Connecticut democrats. almost with
out exception, indorse the views of
President Cleveland, as recently ex-
pressed upon the currency question.
Il was about to say that l did not
believe that there is man in the
state, both honest and intelligent, who
would favor free coinage of silver at
the ratio of 16 to l, but must qualify
this, by remarking that l did have a
conversation with gentleman, both
honest and intelligent. who seemed to
adhere to that singular heresy. So
far as I know, he is the only man
among my constituents who answers
that description There are, of course.
q good many intelligent men who are
knaves, and there are a good many
honest men who are very ignorant,
and from these two classes there may
be probably a very few who would go
in for the 16 to notion.
Generally speaking. however, it is
safe to say that Connecticut democra-
cy stand on the ancient democratic
doctrine, sound currency. By that we
mean that every dollar used by the
people in commerce or for any other
purpose which requires a circulating
medium of exchange and a measure of
value should be worth a dollar.
1--WE favor the use of both metals,
nobody ever questioned that, but we
insist, as the democratic platform in
the last national campaign insisted, as
the democratic party has always in
sisted, that if gold and silver dollars
are issued to be used by the people,
they should be of equal interchange
cble and intrinsic value.
'Now, everybody knows that upon
he present ratio of coinage, 16 to 1.
they are not of equal intrinsic value,
that the silver dollar is worth in
trinsically but half as much as the gold
dollar; and the only thing that keeps
the silver dollar on an equality with
the gold dollar in use is the construc-
tion placed upon our currency laws by
the treasury department to the effect
that the government stands pledged to
the redemption of the silver cur
rency in gold. That is the policy
which has heretofore been MAIN
tanned. And with the repeal
of the silver purchasing clause of the
Sherman act, and in the absence of
any further provision for the unlimit-
ed coinage of silver at the present
ratio, it is feasible for the treasury to
maintain that position. The moment
free and unlimited coinage of these
deprecated 50-cent silver dollars is
adopted by our government. the coun-
try would be flooded with them and
the gold supply would be inadequate
for their redemption. They would,
therefore, sink to their actual level of
value, would be worth in exchange
only about one-half what they now
command. We would then have de-
preciated silver currency, which would
drive gold entirely out of circulation
and entail uDOn the country the end.