The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-10-23

fact that it originated with our politi-
cal opponents and its wide departure
from our past declarations on the sub
1ect ought not to prevent its favorable
consideration.
"The question is not whether the
United States alone have the power to
accept free coinage and silver mono
metallism, but whether in view Of our
own domestic conditions and interests,
and of our extensive commercial and
financial relations with the other great
civilized nations of the world, it would
be good policy and good faith to make
such a radical change in our currency
and such a wholesale reputation of
our obligations It is not q question OF
power; it is not a question Of national
independence, but it is q question OF
prosperity and national honor. On
one point only do we question the pow
er OF the United States in respect to
this subject we deny absolutely that
legislative or executive act Of this gov
eminent however great and powerful,
can make so cents in silver equal in
value to 100 cents worth Of gold. or
equal in value to the commodities
which 100 cents in gold will buy"
Mr. Carlisle then made an exhaust
I've argument gainst the free coinage OF
silver in which he cOntended that il
was q dangerous doctrine which If 1T
became a law of the land would result
disastrously to all business and occupa-
tions; and to none would its effects
and the wage Garner.
Continuing he said; If the American
people viii declare by an overWheln-
ing majority of their votes that our
present standard of value is to be
permanently maintained. that no con-
tracts are to be violated. no Obliga-
lions repudiated, in whole or in part,
and that the public peace is to be con-
stanUy maintained. public nd private,
property scrupulOusly protected and
public authority promptly vindicated
whenever and wherever it may be as
sailed long step viii be taken to-
wards the restoration of prosperity in
every part Of the country.
The next step is to take the govern
ment of the United States entirely out
Of the banking business by retiring and
cancellng every one Of the notes issued
by it thus forever stopping the demand
upon the treasury for their redemption
in gold or silver and placing the burden
of furnishing gold, when gold is de
manded for the redemption of notes,
upon the banks where it properly be-
longs and where it always rested until
the government most unWisely inaugu-
rated the policy of issuing its own obli-
cations to circulate as money. Retire
the old United States notes and the
treasury note of 1890 and gold will
flow into this country from all parts of
the world TO take their places in their
circulation and our currency system
viii be firmly established upon q sub
stantial and enduring basis
There are many who believe, or pro
fess to believe, that these importations
Of gold are due to some artificial cause,
some arrangement, com hinari0n or
agreement upon the part Of an imagi-
nary money power to accomplish GER
tain political results. and that they
viii cease after the election. I can as
sure our suspicious friends that there is
nothing artificial in this movement of
gold, that it is the natural and neces-
sary result of the existing financial
conditions on the opposite sides of the
Atlantic and that it will cease when
ever The equilibrium is substantially
restored whether that be before or at
ter the election. Tt Will certainly cease
after the election whether the eQuilib-
rum is restored OF not. if the people
of the United States, by their votes,
lnaugurate the policy Of free coinage
at the ratio of is to I and the gold
which favorable balance and profitable
a-es of interest have recently brought
to our shores viii depart from US ais
rapidly ais the fastest ships can carry
it across the sea. Our treasury re-
serve viii be Immediately exhausted
the sold sold by the people and financial
institutions viii cease to be used as
money, the circulation viii be suddenly
and enormously contracted not only by
the withdrawal Of gold but on account
of the inevitable panic which will pre-
vail in every part of the country and
we shall enter at once upon a long per
iod of suffering and distress unparal-
elled in our history
Until I have lost all confidence in
the Intelligence and patriotism of the
American people cannot believe they
will deliberately incur the risk of in
dustrial and commercial ruin merely
for the purpose of making a financial
experiment which is opposed to all die
tates of sound reason and condemned
by the experience of all mankind"