Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1896-07-11
SENATOR ELKINs
IN a Strong Interview on the Sill
yer Question.
WHOLE SUBJECT EXPLAINED.

WHUhE OUDdbO4 hAA AAANAO'
ELKINs, w. Va, June 24.--Sena-
tor Elkins, seen at Halliehurst, his
country home, was asked what he
thought OF the st. Louis nominations
and platform. He replied that he
would not change anything that was
done there; that everything was en-
tirely satisfactory, and he feels the
best ticket was put in the field that
could be,a well as the best platform
made that could have been made.
"Have you any apprehensions
about the result of the ticket?'
"None in the world
"Don's you think that the silver
question will draw away a great
many republicans I"
II think it will take from the par
ty some republicans, but draw as
many sound money democrats to
take their places"
"What have you to say on the
subject Of silver? 1t is understood
generally that you lived in the west
and had some experience in silver
mipes."
The senator replied that he had
been for many years interested in
silver mining, and had made the
question of silver and its uses as
money study for more than twenty
years. Naturally, being producer
of silver, he said, he desired as much
as any one that it should be made
valuable and have the largest posi-
bic use as money. But, the senator
said, he did not want the use to go
SO far as to destroy the soundness
and stability of the currency OF the
country, now the best in the world.
''Mr. Senator, what is your notion
about the decentralization OF silver
in 1887"
The senator replied; ~ do not
think that has anything to do with
the present depreciation Of silver. !
think if what is known as the demon
citation act had not been passed,
our silver troubles now would be
even more acute than they are. By
this / mean that we would have be-
fore this reached point where we
could not make use of all the silver
that would have been brought to us
for coinage. Notwithstanding what
is known as the decentralization act,
we are using about as much silver
as we can and keep its value equal
to gold. From 1892 to 1873, the
date of the act demonetizing silver
there had been coined only about
146,00o,000 silver dollars. Since
1873, in go years, we have coined
over 500,000,000 of silver dollars.
This doesn't appear like hostility to
silver or striking it down. How
could we with safety have coined
more7 We can't increase the use
of oliver and paper unless we increase
our gold reserve"
SHOULD BE LIMIT.
"Why should Congress limit the
use Of silver as money ~
because there is too much silver.
Under the constitution Congress has
power to coin money and regulate
the value thereof. This means that
Congress has the right to limit the
coinage of either gold or silver when
ever it is deemed expedient The
trouble is that silver in recent years,
especially since its demonstration
by European governments and the
large production throughout the
world, has been too plentiful to per-
nit all of it to be coined that may be
brought TO our minis from Europe
and from our own mines. There can
be too much of anything to use it
all profitably. We have now fifteen
hundred millions of money, about
$24.25 per capita. More silver and
paper money are not needed. We
do need more of the money the
world uses and is intrinsically valu-
able as property outside Of the mon
ey function
"What have you to say about
cheap money ?"
"There is nothing in cheap mon
ey," replied the senator. "Cheap
money does not mean anything. All
money ehould be the best money,
particularly for the wage-earners and
people dependent upon labor for
means of livelihood. The trouble is
that silver is not worth in the mark
cts of the world more than 81 or SO
cents on the dollar or per ounce.
Ten years ago it was worth 100 cents
and about twenty-four years ago it
sold at a premium. These changes
have been brought about by the
over-supply of silver, which has been
enormous.
1.-THE silver sentiment which is
so rampant in the country is found
ed on an effort, wish or desire of
certain people, especially those who
are creditors, to try to get money 10
discharge their debts. They think
that free silver would make money
more abundant and more easily OBJ
tanned. If we had twice as much
silver, or ten times as much silver,
and used is as money, it would be
just as difficult to get as gold. 1t
could not be had for nothing. In
order to get silver, then, q man
would have to part with property,
just the same as now, and he would
require a great deal of silver before
parting with his property.
TIE REAL QUESTION.
The question reduces itsslfto this:
That no government in the world
has ever been able by legislation to
create values or sentiment. If the