The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1896-08-12

OF deprecated promises 10 pay.
In the report from which have al
ready quoted Mr.. Hamilton argues at
length in favor of q double standard,
and all the subsequent experience of
well nigh 90 years has brought out no
! clearer statement of the whole case nor
delayed a more complete comprehension
Of this subtle and difficult subject.
ION the whole" says Mr.. Hamilton,
"it seems most advisable not to attach
the unit exclusively to either of the
metals, because this cannot be done eff
fectively without destroying the Office
and character of one of them as money
and reducing it to the situation Of mere
merchandise. " And then Mr.. Hamilton
wisely concludes that this reduction of
either Of the metals to mere merchan-
disc Il again quote his exact words)
"would probably be a greater evil than
occasional variations in the unit from
the fluctuations in the relative value of
the metals, especially if care be taken
to regulate the proportion between them
with an eye to their average CONNER
cial value" l do not think that this
country, holding so vast proportion Of
the worlds supply of silver in its
mountains and its mines, can afford to
reduce the metal to the situation Of
mere merchandise. If silver ceases to
be used as money in Europe and Amer
lea, the great mines of the Pacific slope
will be closed and dead. Mining enter
prises Of the gigantic scale existing in
this country cannot be carried ON to
provide backs for looking glasses and to
manufacture cream pitchers and sugar
bowls. A vast source of wealth to this
entire country is destroyed the moment
silver IL permanently disused as money.
1t is for us to check that tendency and
bring the continent Of Europe back to
the full recognition of the value Of the
metal as q medium of exchange.
The question of beginning anew the
coinage of silver dollars has aroused
much discussion as to its effects upon
the public credit, and the senator from
Ohio lMr. Matthewsl placed this phase
of the subject in the very fore front Of
the debate, insisting prematurely and
illogioally, think. ON sort of judi
cial construction in advance by concur
rent resolution of a certain law in case
that law should happen to be passed by
congress- My own view on this ques-
ton can be stated very briefly. believe
the public creditor can afford to be paid
in any silver dollar that the United
States can afford to coin and circulate.
We need both gold and silver, and
we can have both only by making each
the equal of the other. 1t would not be
difficult to show that In the nations
where both have been fully recognized.
the most widely diffused, the steediest
and most continuous prosperity has been
enjoyed-that true form OF prosperity
which reaches all classes. but which be-
gins with the day laborer, whose toll
lays the foundation of the whole SUI
perssructure Of wealth. The exclusively
gold nation. like England. may show
the most massive fortunes in the ruling
classes, but It shows also the most help
less and hopeless poverty in the hum
bier walks Of life. The gold and silver
nation. like France, can exhibitno such
individual fortunes as abound in Eng
land, but it has a peasantry that, with
their silver savings, can. pay war In
demnity that would have beggared the
gold bankers Of London and TO which
the peasantry of England could not
have contributed pound sterling In
gold or single shilling in silver.
The two metals have existed side by
sid.s In harmonious. honorable compan.
ionship rs money ever since Intelligent
trade was known among men. IL 10
well nigh 40 centuries since Abraham
weighed to Ephron the silver which no
had named In the audience Of the sons
Of Heth--400 shekels Of silver-curent
money with the merchant. Since that
time nations have risen and fallen,
races have disappeared. dialects and Ian
guages have been forgotten. arts have
been lost. treasures have perished, con-
tinents have been discovered. islands
have been sunk in the sea and Through