The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-05-23
CARLISLES PIECE.
He Speaks it Again at the Mem
phiS Convention.
Views With Alarm the Move
ment for Silver.
HAVE PLENTY MONEY.
Supply Sufficient for Necessary
Purposes He Says.
Doesn't Think Much of the Per
Capita Argument.
HAVE PLENTY MONEY.

MEMPHIS, Tenn. May 23.-The sound
money convention which met here this
afternoon, will be much bigger affair
in point of attendance than the most
sangulne of its projectors had anticl-
pated There are thousands of visitors
in the city. The number of delegates is
between eight hundred and a thousand
Secretary Carlisle was the Leading Wis
itOr, and delivered an address to the con-
vention on the money question.
Mr.. Carlisle, in the beginning, said
that the proposition to revolutionize our
monetary system and thus destroy the
credit of our government and people at
home and abroad, violate the obliga-
tiOns of all contracts, unsettle all ex-
changeable values, reduce wages
of labor, expel capital from our
country and seriously obstruct the
trade of our people among themselves
and with the peoples of other countries
is one which challenges the intelligence,
patriotism and commercial honor of
every man to whom it is addressed.
an matter what may be the rea! pur-
poses and motives of those who make
the proposition to legalize free coinage
of silver at the ratio of Is to 1" said he,
"these are the consequences involved in
their scheme, and in my opinion, cannot
be avoided if it should be adopted. Ia
no part of the country will the conse-
quences of such policy prove more in
furious to the material interests of the
people than in the undeveloped and pro-
! gressive south.
II do not charge that our fellow citi-
zens who propose to revoIutionize our
monetary system really desire to see
| the business of the country ruined.
or even injured, but in my judg-
ment the results would be most
| disastrous, and therefore. l appeal
to them to carefully review the grounds
! before it is too late to correct possible
mistake upon a subject of such supreme
Importance to themselves and their pos
terity''
! The secretary reviewed at some length
the history of the use of gold and silver
as moneys, and went on to say that the
| percentage of coin actively employed in
conducting business in this country is SO
small that it is almost inappreciable; so
small in fact that its disuse in our trans
actions would not be felt if we had a sub
| stitute or representative of the subsi-
| diary pieces
although we have gold standard in
this country" he continued. "Our actual
stock of gold bullion and coin amounts
to only about one third of our actual cur
| rency, a condition of affairs which
| would have been inconceivable a few
| centuries ago. Our gold, full legal
tender silver, old United States notes,
treasury notes, bank notes and su ubsidiary
| silver coin aggregating $1,904, 707, 1853,
| exclusive of the minor coin, and every
| dollar of this vast amount is kept equal
in value to the standard established by
law.
This is the financial condition which
the advocates of free coinage at 16 to l.
now proposed to revolutionize by a
change in the standard of value, 80 that
the whole mass of circulation for the use
of the people would be reduced to about
one-half the purchasing power it has
now.
sit is contended by many advocates oi
free coinage that the effect of their poll
cy would be not to abolish the present
standard of value and substitute the
single standard in its place, bu
that it would establish what they
call bimetallism and double standard
l confess my inability to understand
what is meant by double standard. be-
cause l cannot conceive how it is posi-
BILE to have two different legal measures
of the same thing at the same time-as
for instance, pound weighing sixteer
ounces and another eight ounces"
After quoting various authorities or
y
Carlisle said: SIT is proposed that the
United States, without the cooperation
of any other government. shall provide
by law that all silver bullion, or foreign
silver coins that may be presented at tht
mints by individuals or corporations
foreign or domestic, shall be coined a
the public expense, into silver dollars a
the ratio Of Is to1 with gold, and that th
, coins so made shall be delivered to thos
ho h,1II oh
, pie of the United States but nobody els
shall be compelled to receive them a
dollars of full value.
All who are indebted to US, therefore
have the privilege of paying in silver
while all to whom we become indebted
are to have the privilege of requiring u
, to pay gold
3 "The attempt to coin the two metal
without limit as to amount into full lega
: tender money and keep both in circuls
ton at the same time has been made b
nearly every civilized nation and ha
failed in nearly every one of them. Gu
i, country is not without experience upo
! this subject, and the results here wer
> just the same as every one else.
"All who have been, or may be il
duced to give their support to this revt
" luton policy, upon the assurance that
will give the country more money Il
4 use IN tne transaction OF business, VIII [
greatly disappointed; for they will fin
when it is too late, that instead of havin
more money, they will have less, an
0 that it will be deprecated in value b.
!: sides.
e ''The Introduction into the currency
:. the country of any kind of money abo
i which there is the least doubt, will a
IS ways operate to drive out Il
same amount, or about Il