Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-03
COINAGE
-
Discussed by Crisp and
HOke Smith.
-----------
a LARGE crown oAr,.-ns no
HEAR THE TWO CHAMPIONS
AT ATLANTA.
CRISP IS in EARNEST
SAYS ,rs is sor MAKING srnEcHns
ron FuS.
---
The History Of the Ratio Between
tue Two Coinage Metal. Taken
" ANA Reviewed.
CRISP IS IN EARNEST
SAYS ,ne IS Sor MAKING srnncHns
ron FuS.

Atlanta. Ga. April 2.--sIx thonsand
people gathered tonight in the big
tabernacle used during the recent
sam Jones meetings TO hear the Sec
ond In the series OF Joint debates on
the currency between hoke Smith and
ex-Spelkcr Crisp, Both speakers were
greeted with great cheering ON their
appearance. that accorded the hrc-
Rotary being the heartier. perhaps, be-
cause OF the fact that Atlanta N his
home, ana Is n pronounced sound
money center. The speaking began at
s o'clock. Secretary Smith having tho
opening and speaking for an hour and
ten minutes.
Secretary Smith began by saying
coinage OF silver at i6 TO I fof the
same reason that Benjamin II. Htll
had opposed IL. and read from that
distinguished Georgian's speech on
the subject delivered In the United
States senate. He declared that he
opposed free coinage bccause he want
ed 70 see genuine bimetaiiisu obtain
In this country. The advocates OF free
cninaRe when they called themselves
bimetalllsts pnrnAed under title they
did not deserve. lie happily outlined
the history OF coinage TO show that
VIC t0UlNitttltti NtAtt 81 knfl itlf1 FlAN
Yer had regulated tho estthlishile--
OF tho legal ratio between the metals
Mr. Crisp had stated 10 a late speech
In the house thot France had kcpt the
legal and commercial ratios together.
He tSmithl had produced the evil
dcncn Of historian after historian to
show that the statement was Incorrect,
and he would not refer TO the matter
ngain until Mr., Crisp produced gone
authority TO nustaln his statement.
The secretary denied that the act %
1874 had cauHed the fall In the price OF
silver. The law or supply and demand
and the chenpcninR Of the cost Of mint
ing had been potent fnctora II mat de-
probation. II the free coluagc OF silver
would cause the 81 ~ grains OF silver
In n silver dollar TO be worth as much
rs the 2322 grains Of gold IN a Eolh dol
lar II would give a rcnl binctnlilaw and
he would be In favor Of II, hut he felt
ashamed OF himself for presenting such
case even alphabetically History and
common sense showed that II WAS im-
possible. He cited General Walker
Prot. Andpcwg, Nj A. j. llnlfcur nnd
other leading bimetallists rs declaring
that The experiment Of free coinage
without international agreement would
be DISASTROUS Instead % our currency
being contracted since 1879 secretary
Smith declared II Ind been enormously
Increased. lie denied the proposition
that tile currency could be increased ny
system OF coinage which dlsrcgardcd
tho commercial ratio and brought
about recommendation with the cheaper
metal alone Ia circulation.
I'VE have a greater per capita Of gold
and silver In circulation now than ever
before. Before 1879 only R.01l.0o0 silver
dollars had been coined, exclusive Of
subsidiary coins. Since aihrch. 1898.
during this administration which had
r.an .4t. a.. all
than 1,0000O0 silver dollars had been
coined. The hnrd times had begun With
the Sherman act. The fear Of free sill
yer coinage had shaken public con-
fdencc and caused a contraction OF the
currency which carried " IL per cent
Of the business OF the country. In re-
modelling our currency system we
should first FIX a stable standard; then
retire the greenbacka us recommended
By Carlisle; give silver the right OF
way below $40 and allow state banks
the right to issue notes"
lie would not take time to put out
a complete plan, but the central idea
must be 20 have every dollar Of equal
value The bond issue was necessary
TO pay demand nptes. When IL waS re-
membcred that congress every year
appropriated over 100000 900 q bocd
debt OF q little over s20o,0oO,0ce ssAl'
not 30 formidable. 49,
Secretary Smith concluded By paint
ing the disaster that would result FROM
the election OF n congress and preAl-
dent favorable TO free silyer coinage. !
'rhc secretary waA cltered for Il full
n mute as he sat down.
Mr.. Crisp was given rouslnS re-
ccpticn as he arose. In beginning. he
Hald he wanted % say that his
"Brother Smith," ms he referred 10
the SECRETARY, made "a good an Hrgr-
nent MS he had ever heard. The
trouble with Mr.. Smith WIS that be
COMPOUNDED q binctaliic standard WITH
a hlmctallic dollar for the two metals
10 circulate together He admitted
that IN fixing the ratio IN this country
Jefferson had consulted the common
clal ratio but nj that time silver was
admitted 70 free coinage the world
over. II YOU viii give us free coinage
and restore silver so that liberty then
ven tefk with you about changing
the ratio. Having been INTERRUPTED
several times. Air Crlsp banged that
The audience keep quiet. .'rbis Joint
debate buslnrrs may be fun 70 my
fricnd smith, he sud. gut its NOT
Inn FOR me-
II am candidate for Inc senate and
J nm anxious 10 yet through with these
debates and gct down 70 the business OF
Il epfuu1irn. nv friend Smith " not
candidate. He says he har no desire TO
be and have no idea that the people Of
Georgia VIII force him. 10 run:
Here Nj. crisi read q letter which
was written by Mr.. Smith In 1890 IA
'v0ring The fref coinage Of silver.
ennnciat.ng its declarations with care
fui cfaphealH.
He also read what purpovted 70 be eS-
tracts from the speeches or Secretary
emitf. one Ia 1885,. ~ which he orpospd
che single gold standard and tke other
Ia Augusta two nights ago. In which hs