The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-06-18
More Currency. Not silver.

More Currency. Not silver.
a communication TO the Philadelphia
Record. signed Democrat" from Mocks-
vile. y. c.. takes the ground that what
the south wants is more currency. no.
free silver coinage. and there is much
food for thought in what the writer says.
The following Is an extract from his COM
munication.
Il is not that the democracy 0f the south
/ desires 10 part hands with the northern
wing OF the party. The south mas no s-l-
that she must have more currency. Tn-s
/ need presses upon her at al seasons her
I only method OF securing the money when
! is absolutely necessary 10 the operation
/ OF her business enterprises is by borrOW-
| ing al ex0rbitaut rates. even i borrowing
can DE done at all. The democrats OF the
south have believed that the restoration
I OF their state banks 10 them would furn-
/ ism them their necessary supply Of money,
and u was largely faith ~ mat plank IN
the - Platform which enabled the democ-
rdcy In the south TO stem the tide Of pop
uilsnl, ana even Tor time 70 peat 10 BACK
I but with the failure OF the democratic
party 20 enact the promised .eglsld ZION
the tide swept on at increased rate. II is
mistake 90 suppose that any large part
OF the democrats in the south want free
coinage IN order TO repudiate their debts,
Ihey recognize the evils which would
come from such a course OF legislatlon3
but liz has come to be the case OF must
Money must be had, and II the democracy
or the north is not willing TO re-esta Dllsh
state banks, there seems TO the south but
one thing left, and that is TO combine
with the silver states and get free coin
age 1 am bold to say that tne democracy
never made as great mistake as il did
when 10 turned its back upon its bank
Platform. The south does NOT want Wild
cat money; il wants the best money TO be
had. and no man in the south believes
that any state would establish any other
IMAM safe system Of banking
In conclusion allow me 10 say that in
compromise upon this question rests the
only hope for the democratic party in this
campaign. Why cannot the TWO wings
unite upon a strong state banks platform,
and eliminate the silver question: /
know that the failure Of promised legisla
ton has brought the Out-and-out free sill
yer men strongly 20 the front; but there
are enough conservatives in the southern
delegations 10 turn the current if they can
nave strong bona ide and explicit state
banks declaration as the first plank of the
platform.
The New York Journal Of Commerce
discussed this phase Of the currency ques-
ton several days ago. and expressed
views that seemed to meet the approval of
conserva tive southern democrats who
read the article. We have no doubt that
an effort will be made at Chicago to bring
the state bank idea to the front, and to
give it especial prominence. Upon it all
democrats could unite. We don't know
what the feeling in the west in respect
to state banks is because the matter does
not appear to have received a great deal
of attention in the newspapers, but we
are satisfied that in the south the desire
is for more currency rather than for a de-
graded currency such as we would have if
our minis should be opened to the unlim-
tied coinage of silver at the ratio of 16 to
l. There has been opposition to state
banks in the south. but the only reason of
the opposition was the fear of wild cat"
banking, and a paper currency of doubt
full value. With assurances of sound
whatever opposition there is in the south
to state banks would disappear.
We are afraid it is too late for the state
bank proposition to make much of an i'm
preston upon the Chicago convention. The
men who will be in control there believe
that the democratic party can win the
election with a free silver coinage plat
form, and to win the election is their
main purpose. Still it might be possible
to convince a large number of the con-
sentative silverites that the party would
stand a better chance for success with a
state bank declaration than with a free
coinage declaration. in that event, the
conservative siverites and the sound
money men might shape the platform. 1t
is safe to predict that no efforts will be
spared to frame a platform that would
hold the democracy together and COM
mand its fun voting strength. 1t must be
confessed however, that the prospect for
such a platform is not very encouraging.