Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1895-09-28
OUTLINES HIS VIEWS.
THE FINANCIAL FAITH OF A PRONE
NENT PRoHl8lTloNIsT.

why He Opposes Free Silver Charge That
the Law Of 1873 Was Crime Has Never
Been Proved-Past Experience with De-
based Currency.
In letter published in The New
Era, Chairman Samuel Dickie of the
Prohibition national committee outlines
his views ON the currency question as
follows
Without undertaking an argument in
behalf Of any proposition herein, l sub
NIT the following as in part declara-
ton of my financial faith:
First. Upon any satisfactory plan
for equalizing the intrinsic and nom
inal value of our coins am bimetal-
list. An International agreement or an
increased ratio might sufficiently ap-
proximate the desired result To de-
crease the amount of gold in our gold
coins might accomplish the same end.
but would be palpable fraud.
Second. As between gold mono
metallism and silver monometallism
unhesitatingly declare for the former.
As to free coinage-several years ago
when this question began to attract
public attention I found myself in
clined to sympathize with the advo-
Gates Of free coinage Before commit
ting myself either way Isought to make
u careful examination of the question.
and believe that was able to study the
problem as student and not as an adj
vocate. began my examination Of the
issue, however. with the belief that
studious Investigation would only tend
to confirm and strengthen impressions
and prejudices which, at the time,
knew rested on no well established
foundation.
An examination Of the issue in all its
bearings has led me- almost against my
will, to the conclusion that at the ratio
proposed, and without international
agreement. the free coinage of silver by
the United States would be a calamity
of no mean magnitude. In this position
find myself in harmony with the best
thought of the Prohibition party, as
witness the rejection of free coinage
plank at Cincinnati by the decisive vote
of 1856 for to 596 against The follow
ing are among the conclusions which
have forced themselves upon me:
First. The charge that the law Of
1878 was a 'scrime" and the outcome of
conspiracy" has never been proved.
There is no direct testimony, the cir
cumstantial evidence is utterly made
quate, and the absence Of motive is i'm
portant.
Second The effort ON the part of
the silver men to pose as the especial
friends of the workingmen and to hold
up their opponents in the guise of "aris-
tocrats. "bondholders, robbers
"gold barous, - "Shylocks, etc, is a
most disgusting exhibition of the dema-
gogue's art.
Third. Equally insincere and absurd
is the attempt to arouse prejudice against
an inert substance by the violent dec
lamation that gold is q traitor, ""gold
deserted the country when Sumter was
fired upon, - gold never fought bat
tie for us, gold fed in the time of
danger, - nobody saw any gold during
the war; Substitute "silver'' for
"gold" in the preceding quotations,
and they are equally true.
Fourth. Gold, measured by human
toll, which is the only true standard,
has steadily deprecated in purchasing
power for many years.
Fifth. Accommodates, produced by
improved methods of production, ought
to depreciate in value, and such depre-
citation is no evidence of an apprecia-
ton in the currency of the country.
Sixth.-Debtors contracting debts
during or soon after the war and pay
ing dollar for dollar" in the late sew
entities or since certainly suffered serious
hardship. This hardship was incident
to our recovery from an era of depreci-
ated money and was not caused by the
"crime" of 1878.
Seventh. Free coinage, as proposed,
would mean silver monometalIism, de-
preciated currency and the prompt dis
appearance of gold.
Eighth. TO defend the debasement
of our currency on tho ground that
cheap money will benefit the debtor
class, enabling them to discharge their
obligations more easily, is to advocate
rank dishonesty
Ninth. "A reasonable prospect of the
enactment of such legislation as is adj