Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-06-15
BOIEs' FINANCIAL VIEWS.
The Illinois Ex-Governor Predicte Free


The Illinois Ex-Governor fredicte Free
silver.
Belvidere. H., June 4.-Ex-Govern-
or Horace Boies, of Waterloo, Iowa,
who probably will become the nominee
of the united free silver and Demo
cratic forces for President at the Chi
cago convention, is unwilling to say
anything whatever in regard to his can
didacy. but ready TO express his rea-
sons for the stand he has taken for the
white metal 1t is his earnest convic-
ton that in no other way can this gov
eminent regulate the finances of the
nation and stop the issuing Of interest
bearing bonds than by accepting both
gold and silver in the ratio of Is TO 1.
Among other things he said:
The constitution of the United
States, prior to 1873, contained three
provisions bearing on coinage. First,
that Congress should provide for the
coinage OF money; second, that no State
shall coin money. and, third. that no
State should make any but gold and
silver legal tender Immediately after
the adoption Of the constitution Con-
greSs did provide for the free coinage
of gold and silver. That same law,
with slight notifications in regard to
ratio, remained in force until 1873. In
that year, Congress, under an act pur-
porting to relate to the management of
minis, incorporated a provision making
gold alone the unit, thus demonetizing
silver. The controversy at the present
time in regard to this question is
whether or not the law enacted before
1873 shall be restored. Congress, in
stead of making both gold and silver
the standard of redemption money, de-
monet.zed the silver, thus causing gold
to rise in value.
Under ClevelaCd's present admins
tration. instead of having a single gold
standard OF money, we have two stand
ards, one for gold and one for silver.
President Cleveland, through his Sec
rotary OF the Treasury, Mr.. Carlisle, re-
fused to redeem the treasury notes by
paying them in silver, but used gold ex-
clus;vely. The result of this is that the
supply of gold soon becomes exhausted,
and interest bearing bonds, greenbacks
and treasury notes are sold to the high
est bidder for the purpose of replenish-
ing the treasury. When the govern
ment undertakes to redeem $500, 0C0, 900
in greenbacks and s5O,OOO,OO0 in treas
ury notes and other notes by paying
out gold exclusively, it must become
more valuable than silver. The capt
talists practice was what President
Cleveland calls the endless chain sys-
TEN, by buying up treasury notes with
gold, and then taking the notes back to
the treasury and demanding gold in eX-
change. Should President Cleveland
use his right TO pay in silver the capt.
talists would no longer hover around
the treasury. The sum and substance
of the whole matter is that the silver
men insist that the payment of silver
and gold both. as the standard of re-
DENTON. shall be restored
Governor Boies expressed himslf as
very confident that the free silver ques-
ton will in a very short time become
the question at issue, beside which the
tariff question falls into insigDificance
He states that it may not be done this
fall, as the masses are not sufficiently
educated on the money question, but
he is very sure that the free silver
question is gaining in popularity as the
days progress. He is confident that
Illinois will in time become an ally of
the free silver forces. Although Gov
ernor Boies is a delegate to the Chicago
convention, he does not expect to at
tend.