The morning times., 1896-06-30
Free Silver and Free Trade.

In all its vicssitudes incongruites and adversities
the Democratic party has yet been placed in the
dilemma that awaits it at Chicago The silver faction of
the party proposes to compel to declare for free silver
and Judging from the various State platforms air ad
adopted, it will also advocate free trade. Free silver
and free trade inconsistent and incompatible
two political extremes could we'll be, and should the
country swallow such dose of demagogica contrariness
would find itself without either money credit 1t
would be like harnessing rattesnake to milestone,
like attempting to combine electricity with powder and
how sensible agree upon such proposition will
always remain unreadable riddle.
Free trade, tariff levied for revenue
producing articles only the opening of ports
to the products of foreign countries and free silver if
enforced would be equivalent to building ancinal
wal around the country to exclude the money of other
nations Under free trade regime would purchase
the greater part of merchandise abroad and with
free silver the standard of the nation could not
pay for it, because foreign tradesmen would not accept
debased money settlement for their goods except at
its bullion value. Gold, the recognized money of the
world would be premium, and those of our mer-
chants who dealt with foreign countries would be at the
mercy of brokers and money sharks, from whom they
would be obliged to the yellow metal to close
transactions. Nor would the government be in posi-
tion to render assistance it frequently does All
import duties and revenues would be payable in silver
which would be legal tender and nothing but that kind
of money its paper substitute would find resting
place IN our treasury IhlS is precisely the situation
to be confronted under free trade and free silver
regime, and dazzling illustration Of asintic in
consistency is impossible for any person to conceive
Should silver rise to parity with gold under white
metal tuelage the lncongrulty would doubtless dis
appear bat there evidence that it would do while
facts and figures unquestonaby lead to contrary belief
Unasssted by other nations, it is simply impossible for
the United States to successfully maintain free silver
coinage. Not only would stimulate the silver kings
of America to work their mines to their fullest capacity
in order mint 50 worth of silver into dollar
but would also invite the silver producers of other
countries ship their white metal here for coinage,
while all the Junk dealers of the world would vie with
each other in purchasing old metal coin into Uncle
Sans money. The total output of the world
silver in 1894 S215, ,4O4. 6OO Of this the |
United States produced s64OOO000 The total worlds
of silver in the and sciences for the
year only about s33 900, 600, and but few
countries where money creuates freely silver except
token money the burden of carrying the immense
plus silver output would fall the United States should
adopt that standard. But granting that this could
done after few years struggle is it best to involve
the country in costly and destructive financial panic
for the sole object of enriching the silver kings?
An unfortunate series of in yesterdays edi-
tora incorrectly stated the figures the production and
consumption of silver. without however, materially
changing the value of the illustration A correction
is made in the above estimate.