The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1895-05-30

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secaFe the PROSPERITY 81 The whoE cc ai11
try and to hand them down unaruished
and undiminished to his children, we
twish 10 address ourselves.
The issues which this financial quPs-
lion present are few and simple.
Tile advocates Of silver allege that
THE act Of Congress of 1873; Technically
fand actually demonetized silver and
very largely reduced the supply Of me-
taIic currency then in circulation among
the people. That as a direct resultiof
the inadequate supply Of currency with
which to transanct business. the price of
nearly all of the products Gf human la
Dor has steadily declined. and that the
price"6r purchasing power of gold-it
being compelled to perform alone the
Functions which it and silver had preYi-
6usly performed 70 gether--has steadily
increased and they assign these alleged
facts as The cause Of the panic which re-
Gently swept over the country and from
I the effects of which we are still suffer
Ting. -
/ They demand as remedy for the pre-
sent, and a preventive for future evils,
that the United States shall at once, and
INDEPENDENTLY of all other nations be
gin the free and unlimited coinage of
silver at the ratio Of 10 to l.. -
A large number of the people Of the
United States are united on this plat
form, and'th cause has for its leaders a
host Of men who are able, conscientious
and patriotic: - 80 -
On the other hand their opponents,
who are just as able, just as conscien-
tioas and just as patriotic, while admit
ting that the legislation of 1873 techni
SalFy dei1onaized Silver, assert that lit
had already been practically demone-
tized by legislation in 1884, Which re-
duckd tie Quantity of gold in the dollar
so as to make the ratio between it and
silver rs TO l instead of Is to as ct had
been fixed by the coinage act of 1872.
That as the commercial or bullion ratio
Of 1.-THE two metals was at this time
(lS34) 10, 80 of silver to l of gold, the
former became more valuable as a com
modify than it Nas' as coin, and the
coihageiof'it az ohte ceased, and that
practically mo- silver (except'a small
amount of subsidiary coinO' was coined
between that period and 1878, at which
time there was none in circulation.
Hence, they say, that the act of 1873
was simply a legal recognition of a con-
dition which had existed in this country
for nearly half II century, and did nbt
ahdcould not change that condition.
The opponents of free coinage further
assert tlfat all civilized nations which
have sought to coin the two metals and
make them circulate together have re-
cOgnfzed the Necessity of making the
commercial, or bullion, or fhstinsic
value OF the two, correspond with the
coinage value, and that in every CAB
where this fIle has not been obsetved,
and when for any reason the coinage
value of one metal has become appre-
Gladly greater than its commercial value,
1T has drivin from the field the other
metal. Hence, they assert, that under
the operation Of this law, which they
claim Is universal. and Is independent bf
legislation or custom, the attempt on
the part OF this country to coin without
limit silver and gold at ratio Of l6 to l,
when the commercial ratio of the two
IL 30 TO- j, will result in retiring, as, a
me talic currency; all OF the gold now in
calculation, which constitutes nearly, If
not lite half, of our metallic currency,
and tn is largely decreased our stock of
such CT -rency, and place us upon a sill
yer basis 1T the same time.
One of ne greatest difficulties which
al honest S, eker for information on this
subject will encounter, arises from the
great conflict between the two parties
as to the facts, which are essential to.a
proper understanding Of the subject, and
a correct coneIusi6il: = -
Vow tho idea we wish to impress Is
this. The problem is u business one. Its
proper solution dems .ds the strictest
application OF Judgment, reason
and common sense, which will in
ivitably lead us TO the truth, though
the Journey be long and pafnfc'l.'
Therefore, passion, prejudice and in