Semi=weekly graphic. (Pine Bluff, Ark.) 1895-1902, 1896-05-23
SOMETHING WRONG.

lHe aQnefeu Us vi Udt ddiliilllo u q
tion and the opponents of free silver
coinage at the ratio of Is to l do
not regard the present financial sys-
TEN or condition as one approaching
perfection. They simply do not re-
gard the free coinage of silver at 16
to as the proper remedy. They
believe that the free coinage of sill
yer instead of improving existing
condition would only make matters
worse. The contention of the sill
verites is that free silver would in
crease the volume of currency. The
opponents to free silver coinage be-
liave that the free coinage OF silver
would debase the currency, disar-
range all values and repudiate one
half Of all Indebtedness, public and
private. Therefore, after all, the
whole financial question is merely a
matter of opinion. On their side Of
the controversy the sound money
men have the experience of this and
other nations to show the effect of a
debased and deprecated currency.
The free silver men have only their
opinions to offer as to the effect of
free coinage, which are not sustained
by the experience of any nation on
the face of the earth That there is
something wrong in our present
financial system no intelligent man
will deny. But, when we inquire
into the cause, the blame cannot be
laid at the door of the Democratic
party. The present distressing con-
dition of public affairs is simply the
elimination of thirty years of
Republican legislation, The Dem
oeratic party is not responsible for
the Sherman law of 1890, because
that law was passed over the vote of
every Democratic member of the
House and Senate. The law author
ling the issue of bonds in emergen-
cies is also a Republican law. 1t is
not within the province of the Pres
ident and his Cabinet to legislate;
they are simply the executors of the
law and must enforce the laws as
they find them upon the statute
books. The Constitution of the
United States has placed the law
making power in a Congress, COM
posed of House and a Senate. The
President, in his messages, has
called the attention of Congress to
the evils of our currency system and
recommended a remedy. The rem
edy recommended by the President
and Secretary of the Treasury is a
repeal of the law requiring the re-
demption and reissue of greenbacks.
The present law in relation to
greenbacks has kept up constant
drain on the Treasury and has
steadily depleted it of its gold. This
endless chain" and the constant
of gold from the Treas
ury has caused the issue of 1852, :
600, 900 in bonds. There is absolute
ly no reason why the Government
should be forced to furnish free of
charge gold for export. Parties de-
string to make remittances to
Europe should be forced to buy their
the same as a Pine Bluff
merchant who makes a remittance
to Boston, New York or Philadel-
phia. Just what is the remedy and
what should be devised to take the
place of the greenbacks has not been {,
fully matured. But it is there
where the trouble lies. If the green
back law, requiring their reissue
after redemption, should berepealed, .
md some kind of a currency substi- :
luted for this endless chain" of s
yreenbacks, then our financial woes, !
n our humble opinion, would soon a
'e thing of the past. a