The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1896-01-08
4 tho school Of Professor Cleve-


borne out tho assertion if he had made
i it, that ho Ind not learned much einco
then.
Secretary Smith gays that .Alexan-
Eder Hamilton and Thomas JEFFERSON
favored tho ratio fI5 to IL century
ago, because it was hon tho CONNER.
cial ratio. llo says he agrees with
| thcm--thnt is, lie favors the present
! cnmmorcinl ratio, which ho afterwards,
IN ifcct says is 81 to /. If ho had not
statcd how ignorant ho was three
years ago, The man Of average intolli-
i genco would hays thought him uncan.
j dld, Tor The nun OF average intelli.
Egenco knows that about fifteen to ono
1 wos tho ratio whom gold mud silver
! J were treated nlikr, md that tao ratio
hofthirty to one hos prevailed only since
tries tries ahlayine i Y lienrl twoihirde. of
le3cojnsofxtho.w5rld have stopbbiasa tlijj,o,;
rec coinage of silver and continued tho
coinngo Of gold. Countries TINT coin
!, over ono hundred millions a year in
Boid, and That will coin any amount
that is offered Mt tho mints, now coin
no silver except for small change, and
buy tho silver they coin for This pur
poao at tho lowest price at (which suf-
lcient amount is not offered. If See.
fotary Smith had not told how ipuor-
ant he was, lie might havo been accused
OF lnslnccrity IN ignoring tho effect
that this difference of ono hundred
million dollnrs, or more, in demand.
would mnko on the market price of tho
two metals. The average man won Id
rnn1jIv n rei b,,t L.
nntion is the only reason why the
commercial ratio is now thirty to one,
instead Of sixteen to ono, bnt man
who did not know in 1892 what tho
ratio wna might not understand it.
Tho secretary says it costs ouly 80
cents MI ounce to mino silver, md
ninety-livo cents on tho dollar or
about $500 per ounce, to mino gold.
How does Secretary Smith know this?
As ~ matter OF rnct he does not. 1T
all depends on tho richness Of the
mines. There is not rs much uniform.
ity in tho cost Of mining, rs is in the
size of houses.
From beginning TO ond Secretary
Smiths speech is full Of arguments
which go to prove tho sincerity of his
statement that only throo years ago
he did not know what tho ratio was
between gold md silver. As 10 one
disputes his statement, however, there
isno hnrd Of argument, to provo its
truth. Fla. Times Union.
~
"The Real and Sensible Cure,o
"Thc real and scrsibl. cure for our rccur.
= 4, rc,
change in our financial scheme. The Presi-
dents Special M.ssngc.
Mr.. Clcvcland's last messago to con-
sie.e '-"cd on .fi,"atcky fccllng IN
Wall street, caused by tho unloading
OF American securities by British cap.
ltalists, forcshadows a strong effort on
The part Of tho administration aud the
gold monomctnlists to forco through
congress bill retiring the grccnbacks
and treasury notes. In other words,
MIR. Cleveland seems to desire 10 make
tho ruinous elects of tho British gold
standard an excuse for fastening it
moro securely on the people and per-
pctnnting it in our system.
1t will bo impossible to carry this
scheme through. Pressure from Wall
street and other financial ccntcrs may
cause tho republicans in tho house to
commit themselves to tho contrac tion
policy, but it will prove tho ruin Of
thoir pnrty with tho people. Moro
ovcr, tho scheme will bo called to a
halt in tho senate. Tho free coinage
men in that body have the ncrvo to
stand between the people and ihc ruin
ous contraction Of The currency pro-
posed, and they will do 80. There
will be little discussion Of the question
in that body. Tho bill will be killed
by tho finance committee.
The situation is entirely different
from that which accompanied the I'M
conditional repeal Of tho purchasing
clause Of the Sherman not. Then Mr..
| OIevoIand's financial policy was not
clearly known. His most intimate
personal friends declared to congress
mon that ho was II bimetnllist. Even
| Senator Voorhees,, who had charge of
the unconditional repeal bill, relying
on information that he received direct
from tho white house, declared that
| the unconditional repeal Of tho silver
| purchasing clause was tho first step to-
| ward FREQ coinage.
But for that declaration and tho as-
snrancos Of men who had the confidence
of Mr.. Cleveland that he was not in
favor Of gold monomotaism, tho ro-
| penl could never have been compassed.
Tho timo is past when tho silver mon
could DO drngooned into supporting
measures contrary to their vicwa and
| fuinons to the best interests of the
people. SO that Mr.. Cleveland will
hayo TO seek some other remedy for
preventing n premium on gold He
will have to go on issuing bonds and
| getting tho people deeper and dcopol
into debt.
| But in the course of his special mes
| sngo to congress, ho makes q slggcs
ton that we heartily indorse. Ho do
clarcs that 'tho real and sensible cnrc
for our recurring troubles can only he
Effected by n complete change in ON
financial scheme" This is so true TINT
wo wondor ut the persistence with
which Mr.. Cleveland insists on q more
modification of our system. Th,
greenbncks and tho trcnsury notes arc
promises to pny and rest on tho credit
Of tho government. 10 retire these
md rest tho responsibility Of issuing
aud rodecming paper notes on tht
Snnks il simply modification of onl
system; wo shall havo tho aame difIi
1 GUILTY in maintaining apnoin p0ympu tk