The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-03


panic was the silver is to deiueion.
What asks the farmer are We to do
with our votes to remedy this wronEY
The plausible reply Of the silver MINERS
and their retainers Is this: We will sup
ply you with plenty of money. Deiesate
10 us who can now mine and smeit silver
bullion 10 almost any extent at a COST
Of sixty (eW to seventy GO cents an ounce
or about fifty cents on a dollar. the power
to have silver ingots or bars made into
round pieces of silver or coins In the mint
az your EXPENSE also give Us the power
TO force you TO take these round pieces
OF silver, or coins which are named dol
lars. for your crops. at one hundred and
twenty-nine cents 9L2s) an ounce. or AZ
one dollar for what costs us fifty cents.
and by this course We will at once adj
vance your prices and perhaps enable you
10 get as much in fifty cent silver dollars
as you secured in gold dollars in 1891 or
even in 1851. That course. they say Will
profit us in fact at the rate OF thirty mil
lion dollars $50 900, 000) a year, or more
for three or four years in our mining
operations, and will profit you in appear
ance az somewhat similar ratio.
Undoubtedly the inside talk OF these
sidver barons and their confederates Il
something like this: "These farmers are
slow, stupid fellows; n third Of them are
in debt the rest want better prices, and
before they find out the trick we shall
get three or four years OF pickings and
can pull out \ hundred million dollars
CsiOO COG. OCo) for ourselves. In the mean
time we will lend our profits on gold
mortgages las Senator Stewart does), buy
real estate, and let IL on gold rents Gas
Gov. Altgeld does.) and keep the reserves
of all our own banks IN gold coin (as the
banks in Rep. Newlands state do). We
have done this all along while we were
making our profits out of Uncle Sam
under the Bland and Sherman acts"
In reply to this plausible statement by
which the advocates OF free coinage have
attempted to mislead the farmers, tho
simple facts may be cited.
Under the Bland act silver bullion had
been bought at the rate OF 5000 900 per
month from 1873 TO 1890. Under the Sher-
man act OF 1890 four and a half million
ounces had been bought month by month
until 1893. Under those two acts the ma
tional debt due on demand has been in
creased nearly $500 COO coo.
At the end OF 1892 and in the beginning
Of 1903 II became apparent that this, COM
pulsory purchase OF silver bullion by
means OF forced loan was destroying
tho credit OF the nation. and with It the
credit OF every man in the community.
There are no crimes in history which
have ever inflicted SO much misery as the
debasement Of the coin OF the realm.
That was IN part accomplished by the
Bland and Sherman acts and that is the
avowed object OF the silver miners and
their confederatcs in the proposal for the
unlimited coinage of silver dollars Of full
legal tender at one hundred cents cost
ing about fifty cents on a dollar in gold.
What happened between 1891 and 1895
was that the evil effect Of this debase-
nent OF coin came 10 light. The begin
ming OF the remedy in the repeal of the
sherman act came too late 10 prevent
the disaster OF 1895 and the even worse
conditions Of 1875.
The greenback craze preceded and
brought on the panic OF 1873. The green
back party was crushed orr Of existence
in 1874 when the whole West sustained
President Grants veto OF further inlla-
ton.
The silver craze will be crushed out by
the uprising OF the farmers Of the ten
grain growing States in November in
support OF the present standard and only
lawful unit OF value. n dollar made OF
gold. This gold standard already existed
but was established more fully nv Andrew
Jackson and Thomas Hart Benton i'm
1894. " was re-estabhshed by almost
unanimous consent OF Congress in 1913
after an exhaustive debate beginning 10
1870. Again re-established in the resump-
ton act Of 1875. Restored in It's full
integrity Jam /. 1872. when specie pay
ment was resumed. n has been maintained
throughout the wonderful period 81 BRO
gross IN the ten grain growing States until
1899. Then the subtle poison ~ national
discredt under the threat Of dehasement
exposed tho cause and brought the true
remedy into view.
That remedy consists In banding to-
gether the farmers. manufacturers, busl-
ness men and banker+-D emocrats and
Republicans alike-in a great Union party
for the maintenance OF the honor and in
tegrity Of the nation and the restoration
of general prosperity by crushing ont the
fraud 10 which thousands upon thousands
~ honest but misguided men have lent
their aid under tho specious sophistry OF
the silver miners. their attorneys in Con-
cress. and their confaderates in the pub
lie AGITATION Of their dishonest effort.
EDWARD ATKINSON.