The sun., 1896-10-18
RERUKE 10 4 PREACHER.
A Methodi.t osicini Instructed as to the
OhIlrniInnn Of MonentN.

A Methodist osic'ni Instructed as to the
Obligations OF Honesty
This striking and convincing open letter is ad-
dressed by MIR. j. ID. Hearnc. President of the
Third National Bank of Cincinnati. to the Rev
A. J. Kynett, u. d., one Of the General Secrcta-
ries Of tho Church Extension Society OF the
Methodist Episcopal Church, and the editor ot
Christianity in Earnest, bi.monthly period icRl
published by that society:
MY DEAR SIR AND BROTHER: I have read
your editorial in the Sepiember-O October number
of Christianity in Earnest, and offer the follow
ing crticism:
On page l65 you say. "the op barrassment of
missionary. church extension. and other be nevo-
lent works. arises out of the great reduction
that has taken plnce within the last t,Centu ytd.S
dtnics yours in the value of farm lands and
farm products. and the paralysis of manufac-
turing and mining interests throughout the
country" "Whatcver may have been Tho
Cause capitals yours OF this reduction. it has
been concdcnt with the disusc OF sily or and
the estnbl shment o: n single gold standard"
The facts are. that twenty years ago we had
no gold or silver circulation, except on the
Pacific coast probably S5.o00.oOo silver ana
SO. .OOO, 900 gold. Our total circulation Of all
kinds OF currency at that date, was less than
$1,000, 0OO, 600 all Of which was at a discount
when measured hy gold or silver, until Jan. !,
1879, when specie payments, with gold basis
ana limited silver coinage, WAS resumed 10y act
OF Congress. July |, 1886 our total circulation
was more than $1,000. .o0o,o 900. being an in
crease OF 90 per cent
Now. as to the d.use OF silver as a circulating
medium. Commencing with none Dec. u.
1875. 1t is now about $500. 900. 900. each year
being an Increae over the preceding year.
We have a larger silver circulation than any
country in the world. except india and China,
neither OF which countries has any gold circun-
tion, and with a population immensely greater
than ours.
We have more total circulating money than
any couatry in the world. and more per capita
than any except France Belgium. and Australia.
and each OF these countries uses bank checks to
to a very limited extent. while we Ute these as n
means of circulation more largely than any
other nation. the result being, that including
banking facilities. our per capita circulation is
IA: in excess OF any nation on earth.
We must look elsewhere than legislation un-
favorable to silver as a circulating medium for
the depressed conditions that prevail. BY rea-
son Of the large and ,aryinE increase, and con-
tinued increase. in tie prod uCtiun Of both gold
and silver. the free and unlimited coinage and
circulation of both gold and silver at the ratio
Of Ii to /. or At any other ratio, be main
tained by the United States aiGa", uIle>s We
abSoIucl control the cost ana production OF
both c"li anu silver OF the whole world, which
IS an lmpossh.llty. The present policy OF the
United states results in a larger use OF silver
than by any country in the world eNc"p Chlaa
and India, with Their enormous population and
no gold IN circulation. Mr. Is there IN al the
word any country having free aud unlimited
silver coinage that has any gold circulation.
The commercial value of gold being greater
than its coinage value IN such countries leads
the owner to ae,, IL n bul. lion.
You say it Is outrageous ard u cruel wrong to
accuse directly or by itnplicnt,un the great body
"A ftr
lief with dishonesty or with n d!spusit on 10 re-
pudiate any obligation, personal or corporate, or
of any state or the Hat1rn.' I hi drIend. very
much upon what one regards as tIshuu"st. one
man says" owe $50, payable IN present god
for $50. payhhlc in our present goia bas cur
rency; this HIl! just pay NY debt. GIVE nv ircr
double the pre-clrt pr.Ce whE,h wtll ena - me
to sell my h.rNe t9r S!oo u III .%n@r"H money;
favor free si.rer' lie say there is no G!s,lon-
borrows $1,000, gold haslA. 81 the Church
Extension society. with with TO bnid
tie Tree ana ununitet Colnagr ot silver at I6
10 ], Worth only about hali IT." money bor-
r"w"d. With winch 1" pay this debt and p-.
kyEctt. the custodian OF this ;uuu. and trustee
for the persona who furnished tins money
says, 1T Is outrageous aui n cruel wrong iu
accuse, directly or by Implication. ppopl, iAus
cmhnrras>"G and seeking rrifei. with dishonesty
or with a disposition TO renuAiute any ohiIca-
ton" il tis her"-y prevail, Aid IT." yatue "f
the assets OF the Church Extension society is
cut In halves. lIr KI nett. ns in Iuty bound vii
appeal u the benevolent. liberal iriehds of the
society to come 70 the rescue aud restore the
loan fund I" its former position.
WAS once present at "a trial OF n Methodist
preacher before his conference for failing to re-
port his benevolent collections. Among the
lief collection llr used th.s language: ANY one
giving twenty GEMS TO This collection will
bring SladDc.s to some widows home and cause
some orphans Heart to rejoice" On the confer
ence floor 10 admitted he had taken the collec- !
tion and used the language a charged. bur that [
when he ana :" hc had mental r-seryatiun that I
II ms salary Was not paid III full lie womb npnly
due him on salary; that II was the duty of these |
people 10 b" Just bcfUr" generous or brnevoicnt !
ana as hie salary "as no. rnh III full he had tho .
perfect right 10 appiy this collection u, he did.
Whatever may be the opinion Of our people or .
anr l"rtt"n Of them If We. having borrowed
money of full gold value 10 build our railroads.
open our mines. build, equip. and operate our
various industrial enterpri,c, and prorecutc ali .
kinds Of Iudu-tres by which We havo been adj ,
vanccd to tn" front among the naiious of the !
earth IN popuiaton ana wealth with n rapidly I
now plead the baby act and repay these debts
IN aIerrerlateh m"nry. the civilized world will
,"E ~ ,, -, Hnd ~" when t"2 late to
dMrlher demand tor Fourth of July orators or !
iihanEr&;,,nE ma strn9n prra"hrr-; but rather
anu hui"lIt hi!ou are brought ul'nn us and tho |
generation, lint follow.
Near me hnit"iD Of pagc l65, you say: ITO |
demand payment of old obiga ions in money |
OF new and higher STANDARD of value i. worse |
hnn ~ .%puh, % iIl ~ - not 30 nominated IN the
foot. as'it is proposed to compel creditors to ac-
Ccpt new anu depreciatcd standard Of vAlue |
for obligations incurred under our present gold ,
standard Any money you loan now or have
loaned since Jan. |. $50, is gold or its equiva- !
tent: that Is, 10 couln be exchanged Tor gold at |
the "ntion or the holder, LegaIizo free and nm. |
Limited coinage Of silver Al ~ TO l ana gold IN |
lhls country. rs in all other countries having /
Tree and unlimited silver coinage. viii, nt
once, cease To circulate ard become an article df |
commerce. ! shndder to contemplate the re-
SUITS that would follow The enactment of such n !
law. Instead nf IL brtug phsrr To repay money |
which, when borrowed was gold or its cQuiYa- !
lent. apprehrnd that there would result sucn I
u panic aud utter destruction of confidence md |
OF vnlUes that " "Shyilck "wuuld slnaL ,
over N" r"pRst .rt before him n" i" La, not |
done for generations. !. ID. lIEakNE
CovINGToS, Ny. Oct. 3.
M TIG4TIOS or the ESSEOTIHO.