The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-03
SMITH AND CRISP
A GREAT TEAM.
Continued from Page ~

the cheaper metal alone in circulation.
we nave greater per capita of gold
ana silver in circulation now than ever
before. Before 1873 only S03l goo silver
dollars had been coined, exclusive of
subsidiary coins. Since arch 1893, during
this admins tration which had been de-
clared so hostile to silver, more than T.
100000 silver dollars had been coined
The hard times had begun with the
Sherman act. The fear of free silver
coinage had shaken public confidence and
caused a contraction of the credit cur
reney, which carried 9712 per cent. of the
business OF the country. In remodeling
our currency system, we should first fix
a stable standard. then retire the green
backs as recommended by Carlisle, give
silver the right of way below so. and
allow state banks the right to issue notes.
He would not undertake to present a
complete plan, but the central idea must
be to have every dollar of equal value
THE BOND ISSUE
was necessary to pay demand notes of
the government. When 1t was remem-
bered that congress, every year, appro-
priated over S400, 100000, a bond debt of
a little over S200,0OO,C00 was not SO for
midable. Secretary Smith concluded by
painting the disaster that would result
from the election of a congress and a
president favorable to free silver coinage.
The secretary was cheered for a full
minute as he sat down.
Mr.. Crisp was given a rousing recep-
ton when he arose. In beginning he said
he wanted to say that Brother Smith,"
as he referred to the secretary, made as
good an argument as he had ever heard
in behalf of a cause so intrinSically weak.
The
TROUBLE WITH MR.. SMITH
was that he COMPOUNDED a bimetallic
standard with bimetallic circulation.
1t was not necessary for the preservation
of a bimetallic standard sor the two
metals to circulate together. He admit
ted that in fixing the ratio in this coun-
try Jefferson had counseled the com
mercial ratio, but at that time silver was
admitted to free coinage the world over.
If you will give us free coinage he de-
clared, and restore silver to liberty, then
we'll talk with you aobut changing the
ratio. Having been interrupted several
times, Mr.. Crisp begged that the audience
keep quiet.
'"i1his joint debate business may be fun
to my friend Smith, he said, but it's
not fun for me. I'm candidate for the
senate, and I'm anxious to get through
with these joint debates and get down 20
the business of d candidate. My friend
Smith, however, is not candidate for
the senate. He says he has no desire. and
l have no idea that the people of Geor-
gia will force him to rum"
Here Mr.. Crisp read d letter written by
Secretary Smith in 1880
FAVORING FREE COINAGE OF
SILVER.
enunciating :ts declarations with careful
emphasis. He also read what purported
to be extracts from two speeches deliv-
cred bv Secretary Smith, one in 1884, in
which he opposed the single gold stand
ard and the other in Augusta two nights
ago in which he advocated the single
standard.
The decentralization of silver caused the
fall in prices, Mr.. Crisp contended, and ne
recited the reasons therefor First, it re-
duced the money supply of the world
There had been hard times in This coun-
try of late. AS soon rs the people found
out that silver had been demonctisej,
they began to aSitate for its restoration
This agitation had becCne Il crime in
the eyes of the men who had fixed in
come which was Increasing every day. He
ridiculed the claim that the single gold
standard was in iavo- o.
THE aABORING MAN.
The advocates of free coinage, NJ Urged,
did not want = iishonest dollar. They
did not want one GollIr 10 have more
value than another. All this talk abou;
cheap moEsy vas rot, concoCted by
the rren whose interest 1t was 10 keep
money dear. Mr.. Crisp read n ON the TT
terances of Secretary Carlisle in fay or OF
the free coinage of silver, contrasting il
with his position now.
He reiterated his statement that he
by way OF warning. reId from an eGi-
torial in the New FORK Financial Chron-
icle urging that money De furnished TO
sound money candidates for the ssn-
ate in the south. When you pass Law
providing for free coinage. you make the
gold and silver of the world OF equal
value.
ALL FOR THE BANKERS.
The remedy of the gold standard men
was more bonds. It was tal Tor the bank
ers, none for US
The first administration OF Mr.. Cieve-
land did not pay off q large amount OF
bonds, but that did not alssr the fact
that his present administration. and he
said it with shame. had imposed or the
people a debt that would amount 20 500. :
00e.000 before it was paid
Generous applause accompanied afr.
Crisp's close, which grew into a roar as
Secretary Smith rose for his twenty min
utes rejoindeT. He declared that 9Ir.
Crisp had lodged the proposition that
you could not have binetaliicS currency
without having the legal ratio the same
as the commercial ratio. He was Will
ing to rest the whole case on that pro-
position. Instead of answering the point,