The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-05-13
What Makes the Silver Craze.

Some OF the advocates or the gOld
standard pretend to be entirely igno-
rant of the cause that has brought
about the 'silver craze" as they con-
temptuously designate the demand for
the reconciliation of silver. If these
advocates of the gold standard would
take the trouble. to read the latest
Monthly Summary of the Finance
and Commerce of the United States, :"
prepared by the bureau of statistics of
the Treasury Department, they would
probably learu the cause of the "silver
craze" This publication gives figures
bearing upon the evils Of the single
gold standard which all the eloquent
and Intellectual dexterity OF Secretary
Carlisle can make to appear contrary
to his declaration in 1878 that the de-
moneiization of silver was ''the great
est crime of this or any other age"
The very first thing this volume of
official statistics shows is that the three
years just passed Mr.. Cleveland's pres
ent gold standard administration have
spent more money than was spent any
three years since the year after the
war, when the army of the United
States was reduced to peace footing.
1t shows also that the excess of expen-
ditures by the Government in these
piping times of peace for the three years
just past was $139,306,870. We are
thus steadily going to the bad at the
rate of So, 800, 900 per month. Up to
April / the excess of expenditures for
the first quarter of 1896 IS S., PIG. .243, :
SO. And let's see how the store of gold
and silver of this country is faring un-
der the gold monometallic system,
with it's gold reserve and hired syndi-
cate to keep gold from going abroad.
The three months of January, Feb
ruary and March of 1896, the figures
of imports and exports show that we
have lost in gold $53, 642, ,992, in silver,
$50, ,75s, ,204. Here is contraction of
metallic currency alone of $84, 401, 1876.
We are also informed by this interest.
ing and timely volume that there has
in all forms of circulation been a de-
crease of $50, ,97S, $50 since February 1,
1896. Things were much better under
the former Cleveland administration.
By the persistence of Democratic Con-
gressmen obedient to the will of the
people this government had taken very
decided steps toward the restoration OF
silver. During the four years of Mr..
Cleveland's first administration more
silver was being added to circulation
under the Bland-Allison coinage act
than ever before.
Under that law, compromise and
make-shift as it was, gold came back
and this country was in fairer way
for agenuine return of prosperity than
it has ever been at any time since
1874, when the coinage of the stand.
ard silver dollar was dropped. Here
are the figures: First four years of
Cleveland's first administration, under
a silver coinage law: Excess of re-
ceipts over expenditures, $378, 934, ,958.
81. Three years of Cleveland second
administration, during which the last
vestige of legislation friendly to silver
or providing for silver coinage had
been repealed: Excess of expenditures
over receipts, $140, ,759, ,69S.60.
These are the figures that make the
'si]ver craze" and it is astonishing
that some of the gold standard advo-
Gates fail to understand them. These
figures also explain the large number
OF business failures that we are having
now. The only salvation for this
country is for the majority of its peo-
pie to get the ''silver craze" and restore
the white metal to its former place in
our financial system. This alone will
bring peace, plenty and prosperity to
our now impoverished country. When
this is done, then, perhaps, the blind
gold bugs will understand the cause OF
the "silVer craze" ."-Times and Demo.
Graf