Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-05-20
OPPOSES SINGLE GOLD STANDARD

OPPOSES SINGLE GOLD STANDARD.
While in Washington last week Gov
ernor Oates was interviewed by Mr.. B.
A. Lynch. Mr.. Lynch is the Washington
correspondent of the Montgomery Jour-
nal. The Journal of Monday contains the
interview, published over Mr.. Lynch's
signature. Following is that part of the
interview relating to the governors po-
sition on the silver question:
"'Well, what is your position on the
silver question:
" That is well understood in Alabama.
l do not change or shift about with every
breeze My position Is now substantially
as l expressed it in 1898 In the house of
representatives. l am not in favor of the
single gold standard with silver as sub
sidiary coin. 1 am so far a bmetalllst
that believe that while the gold dollar
IS the measure or standard of value that
the silver dollar Is by law of equal value
and a legal tender in payment of debts
both public and private. 1t is by existing
statutes as much money of final re-
demption as gold, and l am in favor of so
maintaining it. Garry out the law in
good faith, and coin all the silver which
can be maintained on parity with gold.
In other words, while there is such a
marked difference in the intrinsic or mar
ket value of the metal in a gold and sill
yer dollar, l am in favor of coming silver
in limited amounts and on the govern
ment's account. l am opposed to free and
unlimited coinage of silver at the present
ratio, under existing circumstances, and
free coinage at higher ratio seems inn
practicable now. There are such fiuctua-
ttons in the market price of silver at
present that in the absence of interna-
tional agreement to make any ratio un-
certain L would be in favor of the free
and unlimited coinage of silver at any
r1 I n W ND
happiness for the people of our country,
but | am of the opinion that If adopted
at the present ratio 1t would drive all the
gold out of our country, produce a terri
BILE panic, put our country ON a silver ba-
sis and produce irreparable injury to the
business and commercial standing of our
country. l am indeed afraid of it.. "
1t will be seen from a careful reading
of the governors declarations on the
financial question that he is not by any
means in line with any great number of
his party. There are now, if we are to
judge by their declarations, very few
democrats who favor any further COIN
age of silver at all who are not advo-
Gates of the free coinage OF both gold
and silver at the ratio of 16 to l. 1t has
come to the point where man who de-
clares, II am not in favor of the single
gold standard, with silver as a subsidiary
COIN" is promptly placed in the free coin
age column. Nothing short Of a plain,
positive statement from him, as in the
case of Governor Oates, can keep him
out tot that column. The single gold stand
ard advocates masquerading under the
guise of sound money" are as far from
Governor Oates position as are the free
coinage advocates. The eastern contin-
gent, together with those in the south
who are supporting them, are not only
opposed to the further coinage of silver
on any conditions, but want that which
is now in circulation made legal tender
only to the amount of $40. That is what
they want, and that is what they are
fighting for The issue Is no more silver
coinage VS.. free silver coinage. AS yet
the governor is on Mother side. A strad-
die at Chicago would exactly fit his case,
but we think there will be no straddle.
1t is going to be straight goods, one way
or the other.