The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1896-01-08
i tho school of Proioasor ;;;ev W,

Ittion in 1892, md tlat would also hnye
i borne out the assertion if he had modo
Eit, that ho hnd not lcarnod much sinoo
then.
Secretary Smith snys that Alexan-
kder Hamilton and Thomas Jefferson
favored tho ratio Of Is to n century
L ago, because it wnB then tho CONNER.
i cml rntlo. lIo says he agrees with
sthem--that is, he fnvors tho present
commercially ratio, which no afterwards,
Fin iftct, says is 81 to1. If ho had not
i Stated how Ignorant lle was threo
years ago, tho mnn Of average jntclli.
Egence would hays thought him uncnn.
Edid, for the man OF average intelli.
Itgencc knows that tnbont fifteen to ono
ives thu rntio when gold and oliver
9were trented al ikr, md q that tho ratio
70 offtlsilty ~ to ono hespreyhiled only sinoo
tries my ny eafl tWpt ltifda
'lecoin heSWorld 3RGYye stopSipjtesd tliso; liz;
i REQ coinpge eofsilyorand continued tic
| coinage OF gold. Countries that coin
! loyor ono hundred millions year in
gold, and TINT will coin any amount
| that is offered ut tho mints, now coli,
no silver except for small change. and
buy tho silver they coin for this pur-
poso ut tho lowest prico ntwhich sur.
hciont amount is not offered. If SEQ.
retary Smith had not told how ignor-
ant he waa, ho might havo been accused
ot lhsinccrlty III ignoring tho effect
That this difference of ono hundred
million dollars, or moro, in demand,
would make on the market price cf tho
two metals Tho average man wou ld
readily understand TINT this discrim.
nation is tho only reason why the
commercial ratio is now thirty to one,
instead Of sixteen to one, but man
who did not know in 1892 what tho
| ratio was might not understand it.
Tho secretary says it costs ouly 80
cents nh ounce to mino silver, and
| nlnety-fivc cnnts on tho dollar or
about $500 per ounce, to mino gold.
How doca Secretary Smith know this?
ASH matter Of fact he does not It
oil depends on tho richness Of tho
mines. There is not rs much uniform
ity i'll the cost Of mining, rs is in the
size Of houses.
| Prom beginning to ond Secretary
Smiths speech is full Of arguments
which go to prove tho sincerity Of his
statement that only thrco years ago
ho did not know what tho ratio was
between gold and silver. AS no one
disputes his statement, however, there
III no need OF argument, to provo its
truth. Fla. Times Union.
i"Thc Rcui and Sensible Cure.n
"Tho real and scisiblr cure for our rccur.
ring troubles can only DO ,nrscicd by complete
change i'll our financial sclomc."-rho pres-
dents Special Message
| Mr.. Cleveland's last message to con
| sLete. led on sfiaAIinky rcctlGg In
Wall street, caused by tho unloading
of American securities by British CAP.
italists, foroshndows n strong effort on
the part of tho administration and the
gold monomctallists to forco through
congress n bill retiring The grecnhncks
and treasury notes. In other words,
MIR. Cleveland seems to desire to mako
tho ruinous cffects of tho British gold
standard an excuse for fastening it
moro securely on tho people and per-
potnating it in our system.
It will bo impossible to carry this
scheme through. Pressure from Wall
street and other financial ccnters may
cause tho republicans in tho house TO-
commit themselves to the contrac ton
policy, but it will prove tllo ruin Of
their party with, tho people. More
over, the scheme vii be calod to a
halt in the senate. Tho free coinage
men in that body have the nervo to
stand between tho people and he ruin
GUS contraction Of the currency pro
posed, and thoy will do so. There
will be little discussion of the question
in that body. Tho bill will be killed
by tho finance committed
The situation is entirely dif'aront
from that which accompanied the un-
conditional repeal of the purchasing
clause of tho Sherman not. Then Mr..
CIovoIand's financial policy wns not
clearly known. His most intimate
personal friends declared to congress
mon that ho was n bimctallist. Even
Senator Voorhees,, who had charge of
tho unconditional repeal bill, relying
on information that ho received direct
from the white house, declared that
tho unconditional repeal of tho silver
| purchasing clause was tho first stop to-
ward FREQ coinage.
But for that declaration md tho ns-
surances Of men who had the confidence
of Mr.. Cleveland that he was not in
favor Of gold monometalism, tho re-
| peal could never have been compassed.
The time is past when tho silver mon
! could bo drngooncd into supporting
measures contrary to their viows and
ruinons to tho best interests of the
people. So that Mr.. Cleveland will
have to seek some other remedy for
preventing q premium on gold. He
will have to go on issuing bonds and
| getting tho people deeper and deopol
| into debt.
But i'll the course Of his special mos.
sage to congress-, he max ca bl,ggcs.
ton that wo heartily indorse. Ho de.
olares that "tlle real md sonsiblo cnrc
for our recurring troubles onn only be
Effected by complete change in ON
financial scheme" This is so true that
we wonder ut the persistence with
which MIR. Cleveland insists on q mero
modification of our system. Th.
greenbacks and tho treasury notes arc
promises to pay and rest on tho credit
OF the government. TO rotiro these
and resi- tho responsibility Of issuing
and rodeeming paper notes on the
Sanks is simply q modification of onl
system; wo shall hayo tho same dim
w; ~, L.. = .