The San Francisco call., 1896-10-04
ENEMY TO
PROSPERITY
Fifteen Of the Many Reasons
That May Be Given
for Opposing
16 to J..

In the New York Sun OF September 81
James d. Smith, ex-president of the New
York Stock Exchange gives the following
fifteen reasons for opposing 16 to l.:
First-Because man is finite. He cannot re-
peal natural laws, nor perform miracles, even
tn hough clothed with power TO legislate.
Second-Because falsehood, though expressed
on silver and in raised letters, is falsehood
still.
Third-Because IL would be the instrument
of fraud. Those who vote to legalize fraud
are the accomplices of those who commit
fraud.
Fourth-Because it would occasion a great
and sudden change in all nominal values, and
deprive the people of the power to enforce an
equitable adjustment of the N ost ordinary OBJ
legations.
Fifth-Because it would create such con-
fusion in every industry as TO materially les
sen opportunity for those who toll, and so in
hict great injury Upon the home market for
our products. Most men must earn money be-
fore they can buy food or clothing.
Slxth-Because we are more In need OF ac-
rvity in the money We have than we are in
need of more money. Money is never made
active by lessening the employment OF labor.
inc dollar earned and used may reach any
pocket Hoarded dollars benefit no one.
When "the money power is assailed with un-
scrupulous vituperation 1t is well to remem-
ber that money has power TO pecome inactive,
power to hide. 1t seeks refuge IN dangers OF
lar less magnitude than those 1t would see In
free coinage. 1t is not coinage, but confidence.
that will make money active.
Seventh - Because we need good foreign
markets for our surplus products. There may
be some imaginary patriotism in talk about
twisting the British lions tail, but if we twist
il of we will get little from the British but
the tail. We need something OF greater value.
1t is not ga new declaration of independence"
that we need, but continuance and an en-
largement of that interdependence that has
made England rely upon us for many of our
products and US rely upon England for the
millions of money she has been sending us
yearly In exchange therefor.
Eighth-Beeause 1t would weaken chief
foundation of national ife-the right to pos
sess and to safeguard property. Take that
right away and we should be in a chaos of
safe.
Ninth-Because many of those who desire to
cut 100-cent dollars in two would like to do
the same with 50-cent or 1O-cent dollars. They
care nothing for silver, but are more than will
ward that valueless, irredeemable paper money
which they have long eraved.
Tenth-Because the quacks in finance who
favor II propose to inject into the body polite
more than three hundred times as many silver
dollars as IL was able 10 absorb when there
was no restraint upon their use. An overdose
is more likely to aggrayate lhan to relieve.
Eleyenth-Because we need both credit and
security. The advocates of free coinage favor
the prohibition OF contracts that define the
value of the dollars with which debt shall be
paid. When men are prohibited from giving
full security they will be prevented from get
ting credit.
TwelfIh-Because its advocates seek for
power to iniure the most effective instruments
we use-the banks that give money wide and
safe distribution, and the railroads that do our
transportation at excessively low rates. 1t is
not the crippled bank that gives the people lib
eral aecomIn odation or the crippled railroad
that gives them the most satisfactory service
Thirteenth-Beeause those who ask for power
to debase our money ask also for power 10 take
from our mails and our property in transit the
protection OF Federal law. When that is with
drawn and mobs ere not restrained we shall
cease 10 be Nation.
Fourteenth-Because we need TO dwell to-
gether in unity. The silver leaders are seek
ing TO set against each other capital and labor,
producer and consumer, borrower and lender,
hoping 10 win power through the hatred they
incite; and they are not hampered by facts or
strife. Although they hope to delude some
honest men with their sopnistries, their main
reliance is not upon honesty or Intelligence,
but upon the dishonest, the ignorant, the
shifiless and the vicious. The best men in
both of the great parties are earnestly in oppo-
sition TO the coinage proposed.
Fifteenth-Because its adoption would In
delibly inscribe upon the pages OF history g
record of diShonor that our descendants could
not read without feelings of humiliation snd
shame, and il would prove our incapaeity for
selfgoyernment.
We shall present no such proof, we shall
make no such record. Maine and Vermont
have led the way in which the country viii go
in Move ID Der. and it viii be well for millions
of men II ii move with such maiorities that
Reputation will hide its hideous head so COM
pletely that agitation will give place 10 pros
nd r,aa