The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-16
THE STUFF A BIG BLUFF.

Under Il faring head Of "The danger
| of free coinage; Independent national
| action would be ruinous TO this coun-
try; everything would drop to the level
of the white metal coin; more money
Is not needed; the per capita now
| greatly exceeds that of thirty years
ago; foolish theories OF unlimited coin
age advocates torn in shreds." the
Philadelphia Press turns its gold gall
into its minting machine from which
we quote Il half column.
We did not know till now that the
director of the mint and the secretary
of agriculture, Morton of Nebraska.
were active in the campaign against
debtors. If their cause We're just we
would stand il and bust, but when
such men leave their official duties to
join in the conspiracy to make Us pay
coin debts in n kind of coin which has
risen to twice its former value, we pro-
test. The Press says:
Director of the Mint Preston Yesterday
called attention to a copy of small book
published in Chicago, OF which hundreds
OF thousands of copies are circulating in
the south and west. This book is pro-
fusely illustrated and its got up in the
shape of familiar dialogue, the purpose
being to show how the people have been
ruined and are being ruined by the gold
bugs" To meet that kind of literature
nothing Is practically being done on the
other side. The New York Reform club
has issued documents, but they are ire
mendously long-winded, heavy essays
useless to any person not already pretty
well informed on the financial question
Secretary Morton remarked that what
was needed Fas popular literature in
popular form TO meet and expose these
falsehoods which the silver men are cir
culating extensively in the west and
south
The declarations of some eastern men
are probably doing more TO help the silver
cause than this trashy stuff. President
Andrews of Brown university, the we'll
known political friend of Mr. Cleveland
declared the other day that the silver
question would throw all other questions
into the background in the next presi-
dental campaign, that national free coin
age now would result in q tremendous
revival of business, money turned loose.
factories going fun capacity and trade OF
every silver country coming our way"
There is stock of silver in the world
amounting TO over 5000 oc0, 900. of which
SCI. oo0.e0 is in the United States II
the minis of the United States are opened
10 the free coinage Of silver. the entire
5000 e0,eo0, OF silver in the world. which
is now worth only about 50 cents on the
dollar, must be increased in value one
half. or else this country would imme-
diately so on q silver basis. and gold
-, --r--
would no longer be part Of the circu-
lating medium of this country. According
to the treasury statement there is now
in the Unified States s6g7, 293 20i of gold
The free coinage Of silver would mean
the immediate contraction of the cur
rency to the extent OF the sSZ7.OoI.0Jo OF
gold. The price of everything which the
working man has TO bay would increase
within Il short time about 100 per cent
But Professor Andrews says that il would
turn money loose
As soon as tx became evident that this
country was going to adopt such a policy
all foreign investments not payable IN
sold would rapidly be withdrawn, be
cause such legislation would scale down
foreign as well as domestic debts one
half. Foreign in vestnsnts in this coun-
try make a total OF SSJo, Cd. 00o which under
free coinage of silver would be scaled
down in value one-half
More money IS not what thepeople need.
International free coinage might accom-
plish a great deal OF good. II certainly
could DO 10 harm, because the nations
would all be On the same footing. But
national free ccinge, which would put US
on the Sarre basis with Mexico and The
struggling South American nations, wodll
be crime. from the disastrous effects
of which this country would net recoser
in rnopably quarter OF a century or