The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-07-18
AN ABLE REPLY
To 1sADoR RAYNER BY THE HON JOHN F.
SALISBURY.

SAUISBUR1.
The following article on the silver
question is in reply to the article recent
ly published in the Baltimore Sun by
Hon. Isidor Rayner, of Maryland 1t
was written by Hon. John F. Salisbury,
of Delaware. eS
Mr.. Salisbury is prominent in Demo
cratic political affairs in Delaware, has
been secretary of State there, and is a
nephew of ex-United States Senators
Willard and Eli Salisbury, and of ex-
Governor Cove Salisbury. Mr.. Sauls-
bury's article is as follows:
"You have asked me to state my
views in relation to the money question
which is now being discussed in every
section of this country, and especially to
express my views concerning an article
from the pen of Isidor Rayner, which
appeared in the Sun June %.
II have always had great respect for
the ability of Mr. Rayner, but l confess
placed him before the American people
in the position of a demagogue, who
states nothing fairly and attempts to
keep the truth from the people What
ever might be my inclination l have not
the time ut present to enter into an ex-
tended review of his position or of the
subject of the money question. / will
leave here to-day for Chicago and there
fore cannot give the subject that con-
sideration which would otherwise like
to do. However, will say that 1 favor
the restoration of silver to the place in
the monetary world it held for two
hundred years prior to its demonetiza-
tion by the United States and certain
foreign governments, believing that its
restoration will be for the best interests
of this country.
"In this country we had the free
silver from 1872 to 1873, and during ali
that time our silver dollar was worth as
much, if not more, in the markets of the
world as our gold dollar. Indeed, at the
demonstration of silver by the United
States our silver dollar was at pre-
MUM of 2 per cent. over our gold dollar,
and nothing has transpired since that
date to change the parity between the
two metals if they had been unobstructed
by law.
"There is no doubt that the production
of silver has increased, but. not to the ex-
tent of gold, for the gold mines of the
world have produced and are to-day pro-
ducing greater per cent. of gold when
compared with silver than they did when
silver was demonetized in 1878.
But to leave that part of the subject,
I ask Mr.. Rayner if the history of the
world furnishes an example of any gov
eminent except the United States that
deliberately set to work to destroy by
statute law one of the greatest, if not the
greatest source of wealth in the country.
This country is the great silver-produc-
ing country of the world, and there
would be just rs much sense in the legis-
lature of Delaware passing a law prohib-
iting the growing, selling or expectation
of peaches as there was in the federal leg
islature, by statutory law, attempting
to destroy the value of silver in the mon
etary world.
"Mr Rayner argues the whole question
from false standpoint. He does not 90
back to the date when silver rs n money
power was destroyed. At that date peo-
pie in every avocation of life in this
country were prosperous. The farmer
owned his land free from mortgage and
secured remunerative prices for his pro-
ducts, while every man who desired it Sc
cured employment at fair wages
To-day the farmers land is mortoae-
ed, his product brings prices which will
not pay for the producing and the land is
filled with roaming millions who cannot
get employment, for there is nothing for
them to do, while the banker and the bro
kers of the land are living in gilded pal
aces, marble halls, on colossal estates
outrivaling in value the richest dukedom
of the Old World. 70 the single gold
standard, and to the single gold standard
alone is attributable our present finan-
cial ills
II have no doubt that it is to the in
terest of the bankers, shylocks and money
lords of the world to contract our curren-
cy, because by so doing prices of all pro-
auctions are deprecated. They buy the
product of the laboring man cheaper than
at any period of the history of this coun-
try, while at the same time they draw
their per cent. interest from the mort
cages on the real property of the coun-
try. To my mind, and as | view this
subject, there is not enough money in cir
culation for the wants and actual needs
of the people. The money in circulation
in this country, according to the report
of Secretary Carlisle, amounts to 81. Sos
600, 0GO. When we take into considera-
ton that it takes about 81, 100, 600, coo TO
pay taxes imposed upon the people by the
federal, State, comfy and municipal gov
ernmets, we see that there is left for the
use of the people, unobstructed by the
tax gatherer, about five hundred millions
dollars with which to carry on the COM
merce and business of this country.
When we take into consideration that Is
per cent. of this five hundred million is
by law held in the banking institutions
and insurance companies, &C., as a re-
serve fund 1T reduces the money necessa-
ry for business purposes to minimum
far below the need, wants and necessities
of the people. We are producing peo-
pie; the production of this country is
equal TO the other parts of the globe.
Great Britain, France and Germany are
not producing countries; their interests
are not our interests. They buy our
wheat, cotton and other products. Il is
to their interest to buy as cheap as posi-