Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-10-17
BISHOP McGOXERN FOR
SILVER.

btileNe the Democrats VIII carry
every State in November west 81
Pennsylvania except California, and
every Southern State, even Kentucky.
\ month ago, my opinion is. they
could not have carried a single State
But great tidal wave is sweeping
over the country for free silver, to
which we may attribute this change in
the condition Of affairs
These are the words OF Rev. Thomas
McGovern, the beloved Bishop OF
Harrisburg. The Bishop is a practical
rather than theoretical man and his
opinion on ecclesiastical and public
matters carries with it great weight.
"What about silver?" asked the
reporter.
Silver is surely as good rs paper,
and 30 per cent. better If the gov
eminent pays her Indebtedness in silver
she is paying It in better currency
than in paper All nations would he
bankrupt to-day if they were asked TO
pay their Indebtedness in gold. Can
we not take silver the same rs we are
taking paper money? Silver will at
least increase the volume OF circula-
ton. which is now, in our country too
limited to carry on business and makes
rates too high
Money after all, is only com.
modify in the market" added Bishop
Mctiovern, earnestly. "When il is
scarce it rates high; when it is album
dant it rates low. II we increase the
circulation by the free coinage of
silver we are employing a better sub
stitute than paper because silver has
an intrinsic value; paper has not.
The opponents OF the free coinage OF
silver assert that it will bankrupt us,
but there is no more danger of our
government becoming bankrupt by
the free coinage of silver than there
is by an extra issue of paper money
and bonds.
"There is no danger OF general
stampede being made on the United
States treasury by the people or the
creditors. This thing OF preserving
the credit Of our nation is good senti-
ment, but our government discounted
its own paper over its own counter
during the civil war. The soldier
was paid in paper money on the bat
tlefield and the custom-house duties
were demanded in gold. We sold
81, 900 bonds for $3.50 in gold and
paid 6 per cent interest in gold on
the face value of them. To whose
advantage is the gold standard ,? The
Sholocks of Europe and the gold bugs
of Wall street And at whose loss
The tolling masses.
DO you believe the prices Of com
modities would rise if we We're to have
free coinage Of silver at ratio Of IL
to | as declared for by the Chicago
platform -
"Some commodities would probably
increase in price, was the Bishops
answer, "but wages would also rise
Free coinage would also help our
manufacturers because they would be
better able TO borrow money at fair
rates Every man would be employed
and he would get his wages. When
there are two employers after one man
wages are bound To 20 up, and when
there are two men after one boss for a
job you may be sure wages are going
down.
"What right has Europe to dictate
TO us what kind of currency we ought
TO have? II they are not willing to
take our currency. let them not buy
our exports. But they are not going
to lose our trade. They will accom-
modate themselves to the circumstances.
That will act as tariff and be on a
sliding scale, and 90 up and down just
as Europeans want our trade.
Bishop McGovern said he believed
the free coinage OF silver would be a
boon To the farmers in the West, who
pay 10 TO - per cent. interest on
their mortgages. Many Of these peo-
pie have bought land for $4,000 on
which they have paid $4,000 They
are paying 10 TO Is pc. cent on the
mortgage of $1,000 which is now only
the actual value OF the property. The
result is that in a short time the
farmers will lose their property and
be driven from their homes, like the
tenant farmers of Ireland. and lose
all the money they have paid on it,
The Bishop SAYS some nationa.
banks hoard up money whenever
there is financial depression, such as
existed during the past two years, to
loan through outside parties at exor-
bitant rates Of interest II we had
more money, Bishop McGovern thinks
this would not be done. The farmer
could pay his interest and prosper, the
mechanic and laborer would be ben
Gifted and the banker would lose
natbt,.r,