The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-03-17
Proof ofInsInceritv.

Mr.. J. W Goldsmith Of Atlanta appears
in print as the compiler or table which
purports to show that the cotton plan
ters Of the south would have received
/ two or three thousands Of millions more
/ for their cotton since 1873 if our mints had
remained open 10 silver since that year.
and the Atlanta Constitution endorses
the table in leading editorial It would
De useless TO show the table is wholly in
correct. That Mr.. Goldsmith is not quail
fled 10 discuss the silver question is
shown by the fact that he refers TO the
act OF 1873 as the Sherman demonetiza-
tion law" As far as we are informed
neither Senator sherman nor any other
Sherman is responsible for that law II
we are correctly informed Senator sher-
man voted against it. and that the great
apostle of silver Senator Stewart, urged
it and voted for it.
We have no doubt that Mr.. Goldsmith's
figures show conclusions that are just
about as far away from the truth as his
history is. If he had taken the trouble
to study the prices of cotton for many
years past he would have discovered that
at the time the country was on a silver
basis TO about the same extent it is now
on a gold basis. the price of cotton fell
as low as it has been at any time since
1873.
But why should the Constitution en-
dorse Mr.. Goldsmith's errors if it believes
that if we had free silver coinage a sill
yer dollar would circulate on a parity
with the gold dollar? Docs it not contend
that it would? That is Mr.. Crisp's posi-
ton. In his recent speech in congress he
boldly asserted that under free silver
coinage the parity of gold and silver
money would be maintained. We assume
that the Constitution agrees with Mr..
Crisp. though financiers in this country
and Europe do not. But if Mr. Crisp is
right Mr.. Goldsmith's table amounts to
nothing, because it is based upon the
idea that if we had free silver coinage a
silver dollar would have a value only
about half that of gold dollar. In 9TH
er words. he tells the cotton planters
that if our currency were degraded to
one-half its present value they would re-
ceke a great deal more of that kind of
currency for their cotton. Mr.. Goldsmith
might have gone even further than he
has. and told the cotton planters that if
they could have sold their cotton since
1873 for money Of the value of the confed-
crate currency that was in circulation
just before the close of the war they
would now have so much money that they
would need a trunk instead of a pocket
book in which to keep it.
1t IS an easy matter to make a table to
show almost any condition of affairs one
wishes to show. 1t seems to us that Mr.
Goldsmith desired to show a certain thing
and he constructed his table with that de-
sire in view. His sincerity we do not
question but we have a right to question
the fitness of a man to teach the public
IN the matter of the silver question who
speaks of the act of 1873 as the Sherman
| demonstration law" We are confident
that intelligent cotton planters will not
be greatly disturbed by the losses which
Mr. Goldsmith assures them they have
suffered since 1873. on account of the clos
ing Of the mints to free silver coinage.