Evening star., 1896-08-22
which makes such a thing possible? If
you are not. what is your remedy?'


Mr. Curry Against Free COfnaee
Curry was introduced. His appear ,nce
was greeted with applause. He said there
was some misunderstanding about his
presence there. He certainly did not ex-
pect to have set of questions that he had
never seen before propounded to him to
pe answered on the spot. Mr. Curry then
began to read treatise upon money.
AS Mr.. Curry proceeded he was inter-
rupted at intervals by the audience, who
dlssented from his statements or contro-
Nerted assertions, until it became neces-
sary Tor the chairman to insist upon order
IL flnaliy developed that there was a mis-
statement of figures and when Mr.. Curry
corrected these figures the audience quieted
down.
Mr.. Curry gave a comprehensive review
OF the history of money. his argument lean
ing toward the gold standard throughout
he SAID the gold coin, whether the eagle
the sovereign or the Napoleon, was worth
a fixed relative sum throughout the world
by its intrinsic merit and that the stamp
OF the government upon it was but a GER
titicate attesting it's weight and fneness.
Coming down to the question whether the
United states shall open its mints to the
free and unlimited coinage of silver, he
answered it emphatically in the negative,
He said it would impose burden on the
people for which there is no good and suffi-
c1ent reason. The capacity of the mints at
present is S40,OoO,OO0 year If this was
increased to sGO.OOO,OOO it would cost the
government s500.00O year to coin it, In
other Other words it would cost 81 to coin s12o.
Why should not the owners of silver be
made to bear this expenseo He contro-
verted the statement that the free coinage
of silver would benefit everybody. For
thirteen years. from 1862 to 1879 he said
the United States did without silver entire
ly. 1t would be impossible, however. to do
without iron for that term without relap-
sing into barbarism.
Sixteen to One.
He also asserted that the United States
should not coin silver at the ratio of 16 to
l. as proposed. This is not the commercial
ratio of the two metals In the markets of
the world. Why allow the owners of silver
bullion, whether mine owners or specula-
tors, to have 6S cents worth of silver
coined INTO standard dollars and made legal
tender for 100 cents? Beside paving Al in
$l2O for the coinage, we are asked to allow
them a profit of 80 cents on every dollar
we manufacture for them
Should 1t be said that the free co;nape
OF silver by the United States will advance
the price of silver to 16 to /, 1 answer that
this is sratuitous assertion having no
foundation III fact. But admit that it is so
1or the sake of argument. To whom would
the profit of this increase go? In order to
increase the value of our own silver one
dollar, we are asked to gratuitously in
crease the value of the silver of other ma
ness"
What is Wanted.
He denied the assumption that the free
coinage would give immediate relief to
nnancial troubles. Is there any lack of sill
yer money for any of the purposes of busi-
ness or trade? Suppose there was twice
as much silver coined and stored as there
is now. would the people be any better orr
Not a whit, he insisted.
II Is not the want Of silver coin. but th..
want Of business activity, of investment in
induslrlai enterprise, that causes the trou
ore What 1s wanted is work and wages
manufactures and commerce Not ,noro
silver blood in the arteries OF trade hut
a more rapid circulation of our vasr vol.
.h u1ae OF goid and paper money. Suppose
the mlnts were opened to FREE. coinage
How would that help the treasury? The
government does not own the min,s mr. Tho
silver In them. If the mints were run day
would not give the government a dollar
more of money, but would be an addi-
tonal expense. What the government
wants Is more income. The expenses cx-
ceed the receipts, and free silver coinage
would not stop its going deeper into d..ht
The bond issue in three years amounted
to s262315. 400 at and per cent interest.
Premiums were received amounting n sol .
13S.SS6. The interest will be $344TIS 4SO 50
that in order to obtain 1903 454 2S6 we have
incurred a public debt with interest ~
Sd', ,09'',ss The free silver men say the
debt was created to maintain the gold
standard. Not SO. 1t was created flrst to
pay current expenses and make up the de-
ffciency revenue; second, 1t was created in
order to sustain the silver coin at parity
with gold For thirteen years there was
no trouble in carrying the greenbacks and
keep up gold. the reserve, but constantly
piling up depreciating silver coin: con-
for coinage a falling market issuing more
silver certificates to be kept at parity
drew the treasury to the point where it
was compelled to issue bonds to buy gold
or let the whole silver currency collapse.
To add more silver to this already over