The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-08

Senator Allen, at Minneapolis: II
tell you the moment this government
declares for free coinage silver will go
to S1.29 an ounce. The seal of the gov
eminent stamp will create the value"
Press dispatch from Havana of the
same day: Bank bills are now quoted
at 10 per cent discount
When, in the discussion of money,
it's nature and the relations Of gov
ernments to 1t, man tells you that
She seal of the government stamp
creates the value" 1t would seem as
If the end had been reached. Argument
ceases and disputation begins; asser-
ton takes the place of reason, and the
unbridled imagination runs riot in pure
fancy. 1t seems incredible that man
like Senator Allen can honestly enter
tain the opinion expressed in his speech
at Minneapolis, and the fact that he
does is accountable only on the hypo-
thesis that he is a victim of paranoia,
that disease of the mind that uEseats
reason as to some one subject OF
thought Hearing men like the SEN
this assertion SO stoutly and confident
iy. it is not surprising that one finds
SO many men, with less opportunity
Tor forming correct conclusions, re-
peating the statement. 1t is the eta
del Of the sham money fortress, how
ever, and it's reduction is the most i'm
portant movement of the campaign.
We place in connection with the as
sertion of the senator, for the purpose of
demonstrating it's accuracy, state
ment contained in a news dispatch
from Havana of the same day, when he
was making his unsupported and I'M
true statement In Minneapolis. Bank
bills are now quoted at 10 per cent
discount" It is the completest posi-
bic REPUTATION of the senator's dogma.
We need not go into history for dis
proof for here Is an instance of the
attempt today of a government to Gre
ate value under the most favorable
should congress declare for free COIN
age" and put on silver dollars the
stamp that twill create the value?"
1t would be a simple act of congress.
Back of it, to enforce it, would be
the courts, limited in their action to
compelling creditors to accept this Gre
ated value in satisfaction of their de-
mands. When the created value"
chases the courts would be powerless,
and no other force exists to oblige
obedience to the mandate Of congress-
1t could employ neither it's staff Of
substance TO the value 1T had attempt
ed to create. This much all history Of
similar effort establishes.
But in Cuba the case is different.
Gen. weyler is captain general, en-
bodying in his Office absolute power,
now made active by rebellion. Cuba,
so far as it is within his jurisdiction,
is military camp, governed by mar
within his command is at his disposal
He can order the arrest and execution
of any person, or the confiscation of
any ones property. Bullets and bayo-
nets back his decree. Spain is bank
rupt. Money to conduct the war is
difficult to get. Taxation is practically
suspended, and revenues are nearly
stopped. Like our silverites, the Cuban
general needs more money" He au-
thorized the banks to issue more notes
without increase of the reserve on
which their solvency depended. Dis
trust naturally followed People hav-
ing property to sell refused to exchange
Tor the bank notes at par. Here was
as complete an opportunity to test the
accuracy of Senator Aliens assertion
az could be wished, q decree to be
backed by absolute, unhampered pow
er. Weyler issued decree that the
notes should be received at par with