The Providence news. (Providence [R.I.]) 1891-1906, 1896-08-04
TRYING TO FIND THE ISSUES.

| what Il is that the free coinage advocates
propose and promise. That is, stripped
OF glittering generality and high sound
| IN phrase, il is not at all easy to dis
cover the leading arguments advanced in
favor OF free coinage, no general basis,
no predominating points which may be
com batted by argument In favor OF the
gold standard. BRADsTREET's states the
difficulty commonly met with by declar-
ing that "An examination OF recent free
silver speeches fails TO furnish the e1-
planstion OF the attitude OF those who
oppose the gold standard, and when one
is forced back to extended free silver
oratorical efforts, their extreme length is
discouraging.
There is much that may be called sub
sidiary OF secondary argument that is
used by the free silverites, as for instance
the "crime OF ls73," the "scarclty Of
money" delusion and tn various theories
that have been advanced as to making
money plentiful and making wages and
prices high. The bimetallism delusion,
as we pointed out the other day, has beon
practically abandoned by the silverites
who quite cheerfully Withdraw TO do bat
tie on the ground that silver standard
will displace the gold standard aud we
shall have silver monometallism. This of
course retires the impossible parity IDEA
and that Is something 10 be thankful for.
In SO far as we may now discuss the re-
lative advantages of a single gold stand
ard and single silver standard, argu-
ment Is made more smooth, relieved from
the confusion of the factors of bimetal-
lism and parity aud the advocates of
"sound money" and "cheap money" may
fight on q fairly well cleared battle
ground.
But as Bradstreet's notes, and as SO
many of the gold standard advocates
have noted, the silverites present a very
vague line of battle. There is SO little
for the ardent gold standard advocate to
grapple with, and what there is is SO
unimportantl The "Crime OF 1873" has
really nothing to do with the case, al
though II makes lot Of smoke along
the silverite skIrmish line. The people,
however, are already pretty we'll in
formed, even before tie campaign is
fairly opened, that no "crimc of '73" can
be an argument sufficient to induce an
intelligent man to vote for 16 to free
silver In November, 1898. Moreover, the
statement Of the silverites that the fall
in the price of silver has been due 10 the
dropping OF the silver dollar from the
coinage In 1873, Is as erroneous as the
charge that that legislation was . tgold
bug" conspiracy. II will not last the
campaign out. II will not hold water
until election day. As to the "scarcity
OF money" claim, our money has in
creased a good deal faster than our popu
lation. Before the WILSON -GoRMAN bill
shut of our industries, everybody
realized how much more prosperous this
country and all It's citizens were than
ever before, Under free coinage, money
would certainly be "more plentiful,
but 1t would to plentiful only, such as 1t
would be, In the mints and in the treas
ury, and not in the pockets OF the wage
earnsrs, the great majority OF the people.
AS 1t became cheaper and more plentiful it
would be the harder to get hold of in
corresponding quantity. A financial
kindergarten ought 10 be able to see
that. Already-as In the case OF the
New York city bonds, which nobody
wanted to buy-there is evidence of a
boarding OF money, It's storing in vaults
or stockings rather than It's investment
in enterprises-and such investments
keep money in circulation, keep labor
employed, keep the dollars going round,
one OF them buying and paying for
| thousands OF things for thousands OF per.
sons as 1t passes from hand to hand.
With even reasonable fear OF q free
silver policy, money would halt and hesi.
tate at the prospective revolution, In,
dustry and commerce would be checked.
Even the silverltes admit that. Ninety
five per cent. OF the wholesale bushes,
of the country IS done on credit--on con
tidsnce. A concerted rush to get down
TO the cash basis prated about by tn,
| silverites would be like fun on 4