Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-04-04
OUR CURRENCY.
Secretary Smith and ex-Speaker
Crisp Meet In Debate.
SOUND MONEY AND FREE COINAGE.
The Secretary Champions the Former and.
the ex-Speaker of the House the
L. Latter-The Leading Points
in the Discussion.

AUGUSTA, Ga, April mo political
event has SO stirred the city and its
surrounding territory as the financial
debate between Secretary Hoke Smith
for sound money and ex-Speaker
Charles f. Crisp, representing free
coinage, which occurred here last
night. After a short introduction by
Chairman Dougherty, of the county
executive committee, he introduced
Judge Crisp, who spoke as follows:
Mr.. Smith and myself are both democrats:
we both expect to earnestly and Loyalty stand
by the democratic nominee, but just now the
policy OF the democratic party is to be formed
and Mr.. Smith and 1 differ one important
question. We differ about money. There are
certain principles relating to money which at
the outset you should clearly understand. If
you will bear in mind that the value of money
is regulated by the demand and supply OF it's
exchange for commodity you will have the first
step in determining this great financial ques-
1ion. There is no such thing an interna-
ttonal money, money will circulate in all
countries This is mere plattude In 1892 the
governments of Europe had the ratio of fifteen
to one, and the United States formed that ratio
as their basis of coming the two metals That
right in 1892
Binetallism is described by every writer as
being condition when both metals be
coined legally at a mint by ratio fixed by law
with an equal purchasing and debt-paying
power. Up TO the year 1913 THIS law was III
force silver and gold were thus linked together
and were the measure of commodities Any
other condition but this is injurious to the
people slnd only benefits those. who have
money to lend.
When France coined the two metals at the
ratio of Ia to ] and the United States at a
ratio Of Is to l. all the gold came to America.
CGold goes where it get the most for itself
Up to 1873 there was great divergence in the
ratio of the two metals; sometimes one would
he worth little and sometimes another.
In 1873 the United States demonetized silver.
Why it was done no single gold standard adj
-vocate is old or truthful enough to recollect.
There are none of them who will boldly tell
you why. The real reason was to decrease the
amount OF money and increase the value of
money which was left Immediately after the
demonstration of silver in 1873 prices de-
: creased How could they help it, when
money decreased and the commodi-
ties increaS ed? In 1873 the Bland
Allison law passed and gave us
little help in arresting the falling prices. In
1899 the Sherman law was passed, and it adj
vVanced prices little. In 1898 that was re-
pealed, and say that money is decreasing and
, commodities increasing. In the last % years
every industry has slowly but markedly de-
creased in regard to the prices obtained for its
output. The reason why they say silver dol
lar is only worth 80 cents is on account OF this
very demonstration of silver, and the silver
dollar will be worth 100 cents when the de-
monetizatien is wiped out. If four nations
which is equal in commerce to the four, could
= do it. The four cuts no figure.
Mr.. Crisp closed by reading statistics
regarding the mum Der of manufacture
ing and other industries in the United
States, and how much larger they
were than European countries
When Mr. Smith was introduced the
reception was equally as enthusiastic
as that rendered to Mr.. Crisp After
thanking the people for their invita-
ton to him, he said.
In opposing the free coinage of silver, want
YOU to distinctly understand that l make no
fight on silver as final payment and as legal
tender. When we oppose this plan OF free
coinage at 10 to ! do because we
do not believe that it will give you what you
want. In the first place, let us see how much
money we have now and had in 1873 In 1873
we had in gold and silver $780, 900 and now
we have SLIT 090, 600, eight times as much
money as we had when silver was demonetized
The advocates of free coinage mlslead you
when they say that we wish to contract the
currency and that we do not wish silver dollars
ito he legal tender.
The gentleman reports Mr.. Cleveland as say
ing there is difference between currency and
standard, but the gentleman m1Seoncelves It.
A currency can be checks, due olllS, silver or
.greenbackS but a standard is measure. Sup
pose that there was such a law as to allow you
TO coin 80 grains of silver into dollars or 20
grains OF gold into q dollar, 90 you InIpk
that you would carry your 20 grains to
be made into dollar when you could ex-
change it at the jewelers. shop for 81 grains OF
silver, enough to coin into two dollars. No,
the gold would not be coined. am here to-
night, not to fight bimetallism, but silver
monometaliSm.
1t is the actual value of the dollar or the
credit of the country which puts the value on
1T, which makes the dollar. Thomas JEFFERSON
when the two metals were made money in the
United States, found that gold was worth 10
times as much as silver. and he then made that
ratio. Now, the difference which the free
coinage advocates wish to make is 80 per cent
They want Is to when gold is worth 81 times
as much as silver. Briefly suggest to you
Zine of remedy. 1t is this-give silver the
right of way, Call in your gold undef $40 and
let your silver be the only currency under that
amount.
Mr.. Smith was loudly applauded and
several floral offerings were thrown on
the stage.
TAYLOR BROTHERS WILL Hang.