Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-08-19
FREE SILVER FACTS.
d. * Tenney, of Chicago. Speaks
at Madison, Wis.
fsliacies of tho cheap Money Mon
Held Up tn View Conn
mon-sensc Talk ON the
Money Question.

In talk on the currency question at
Madison. Wis. on the night of Monday.
August 10. ID. X. Tenney. n Chicago
lawyer and student % financial econ
omy. spoke to large gathering. giving
many points of interest To the working
men OF America. Mr.. Tenney's subject
was The Marriage of the Rocky Noun
tains 10 the Sunny South" in present
ing which he said:
I'VE are now confronted with the PROMO
| sition that the sages OF the Rocky noun
] tntns who own silver mines. the POOR white
J trash OF tho cotton states. the populists OF
! AcNaS. Arkansas, Kansas. and elsewhere
! ana tho DcmOstheneS Of NebrqSka have
! superior acumen and are fountains or all
/ knowledge concerning tho kinds OF money
! best adapted for the United States and
that the mature opinions OF the fnanciers
/ ana business men OF this country and OF
! all the civilized world besides. are entitled
] 70 no consideration. nv sole qualification
! Tor addressing you on monetary questions
Is that Tor % years my professional prac-
| tee mas brought me inTo close associa-
| tion. as clients and otherwise not only
! with numerous men OF Intelligence engaged
IN commercial and financial pursuits, but
| with all classes and conditions of men SOL
vent and insolvent, rich and poor. IN many
| OF .he states OF this union. Such n client
| age, with 'he business involved, has made
| a continual Investigation of financial ques-
point OF view OF integrity. and not OF poll
| itics. ! was myself banker ina n small
| way before the war, and until the tax on
wildcats made them hunt their holes
| In those happy. bimctallic days, now so
| much eNtollcd. ~ man went TO bed at
| night with a dollar bill I'm hts pocket II
! was matter OF doubt whether In the
| morning II would be worth a dollar, nnlf
| dollar. or nothing at all. The democrats
| we're N power In this country then That
was good democratic money. When Il
! came the republicans turn. they jumped
| into that currency with both feet and
and furnished us with "A substitute, ujiu
| maintained. every dollar Of which has since
bccu rs good every other dollar and not
! a dollar lost
Why the south L. for silver.
The reason that the money question Is
now so prominent is not because the money
| I'm use ~ unsatisfactory TO the people nor
because the common people have any crit
| ical opinion on the subject. IL Is simply
a question OF practical politics. brought
| TO the surfpcc IN the natural evolution Of
| Affairs. There has oecn a wedding OF the
| Rocky mountains to The sunny south. The
two hearts OF parity and politics beat
| as one. Senator Teller gave away che
| bride. Patriotism and popocracy have
ceased 20 WOO. About the time the repub-
| licans IN congress undertook to enact the
so-callcd force bill. sugar began TO decline
| In valve and the free silver craze hove in
| sight and began to assume prominence.
! Southern business men. east OF the M.ssis-
| sippt, though by nature conservative. felt
/ that any disaster or doctrine was better
| than enforced negro suffrage. IL was "A
| condition, not theory. which confron, ed
! the southern politicians. and. diplomatic as
| OF OLD, tho southern senators proceeded 20
| form an alliance, offensive and defensive,
| with the silver states and the populisis
| whereby the force hin should forever be de-
| feated, and. as compensation, free coinage
| OF silver should be enacted.
| The republican party. until lately, has
| pursued a course too antagonstic TO the
south on matters whore that section Is re
| Culiarly sensitive. and which 70 should he
/ loft In peace 10 work out and solve. as q
| inevitably must, according 10 It's own con-
science. By the scare OF enforced negro
suffrage the south has been driven in an
parent selfCcfcnse TO embrace the hercsy
o. irce silver coinage. Another powerful
motor has lately appeared The labor IN
the south 81 very largely performed By Hc-
8Toes. The wages paid these PEOPLE lre
not more thnn half what IS paid In he
north in like employment. but still tho prin-
ciual crop OF tnat region. cotton. com
pctiug rs u must with the whole world,
Is raised with little prOdt, and the planters
are not so prosperous as Of old. The plant
ers and tn, leaders I'm politics thcre are IA
miliar with Mexico. it's free silver coinage
and che wages there prevailing. The
southern wise ones have concluded that .hc
ignorance and stupidity OF their common
negro laborer Is fully "a great as In Mex
leo. That ia case OF free coinage cotton
can be sold FOR two silver dollars whore
now only one In gold ia obtained. out Of
this they can pay their laborcrs IN silver
at the present rate Of wages and thus re-
duce the labor expenses OF raising cotton
one-Ealf"
The Free Coinage Question.
Mr.. Tepney then took up { he free coin
age question and considered il at con-
siderable length:
I'VE are tod that the act Of congress In
/ 1873 onitiirg the silver dollar from our fu-
that II Immediately struck down for all
time half the legitimate circulating me-
| d!utn In this country, that 10 doubled tho
valTe OF gold. cut prices Of products in two,
made q dollar twice az difficult 10 obtain.
. ana that 10 was the result Of a deliberate
scheme Of the money sharks of wall street
20 impoverish the people Now. in 1873 the
/ population Of this country was about H.
JoO.OoJ. II IS now about Gy.OO0.OJ0 an IN
l crease So 90 yeur8 n about 81 per cont The
/ entire currency iu 1873 was grceubackg and
national hank notes. and amounted 20
I flHa.Z2r.iNl as ! remember. this currency
Z was at discount then Of about a. per cent.
with gold. SO that JUS purchasirr power
/ compared with our present money was only
I about Edl9oo'01. or less than SIS Dcr capita
I ~ tho population the coinage Of silver on
private account, tho return TO which SIS now
| Insisted upon, had been abolished by tie
} rot az ltI 10 W.s the dgmocratE who did
/ that. After that silver was coined. 81 al all.
l only on government account SO II was In
/ 1873 and not in 1873 that free coinage was
suspended why did not the silver n. On
complain them Simply because their g.l-
yer was worth more than gold why DO
they complain now? Simply because ~ is
only worth hair as much. Neither silver
nor gold had. in 1873. been In circulation
here for nearly 80 years. during all Of which
time an American silver dollar was GU
rios!ty, and gold. being tho cheaper metal,
WAS the only American coin in circula-
ton. our entire coinage Of silver dollars
Up TO 1873 from the beginning Of the gov
eminent. had been only N00O.OOo. These
had either been melted up for use in the
arts or been exported and sold al their bull
lion value for gold. az a handsome profit.
| They could not circulate here as mon y
they were worth too much. Doing buzz
ness as We ala I'm 1873. without u dollar OF
coin IN sight or In prospect. and having btt
9l5 per capita Of paper money NJ gold value
congress decided 20 coin no more silver dol
lars The proposition was well known. and
satisfactory 20 everybody AT the time who
paid any attention TO such matters. There
was no secrecy about %. ~ the metal IN
silver dollar was worth two or three
cents more than that in a gold dollar, no
body ever expected 20 see another silver
dollar. and never wanted to- Speaking upon
this subject 81 the senate about that time
Senator Stewart. OF Nevada. now the great
free coinage champion Of that state sail /:
I want the standard gold, and no paper
money not redeemable In gold. When the
, ] labOTiun man receives "a dollar ~ will haze