Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-10-07
THRESHING OLD STRAW.


Sound Money, a publication Of tho
sound currency committee OF the New
York Reform Club, presents some
cogont arguments to the farmers OF
Ohio. Iowa and Kentucky, who will be
called upon this fall to vote again upon
the silver issue. The Siveriies are
reviving this issue in the hope OF gain
ing for their party an impetus this year
which will enable IL 10 carry tho Con-
gressional elections in 1898 and to
SECURE the Presidency In 1900. There
is nothing new in the question rs it 10
now presented. 1t was fully discussed
last year. but all the old arguments will
be brought to the front onco Inorn.
It will be well for tho farming class
and the other voters of theno Statos,
says Sound Money, to study this quos.
ton afresh and ask the politicians what
good the free coinage OF silver can do
lis or our interests. They will be told
first that times ure still hard in the
country and that ths causu- OF them id
tho want of sufficient money-that more
money is what IS needed for general
prosperity.
But the education of the last cam
paign ought 10 have made every man
Of them understand clearly that the
coinage Of moro legal tender silver dull
lars will not increase the circulating
medium Of the country, for the roason
that the history Of the world shows
clearly that whenever a nation has
attempted to make use OF two kinds OF
money, differing 10 intrinsic or com
mercial value, the result has always
been that tue batter kind of money dis
appeared from circulation, leaving the
poorer kind to occupy the field. If it is
provided by law that 4l2.5 grains OF
silver shall be coined free without
limit anil form legal tender dollar,
and that one -sixteenth OF that weight
of gold 10 also legal tender dollar,
then il the specified amount of silver if
worth less than the specified amount oil
| gold, in the measurement OF gold, all
gold money at once disappears from
circulation.
Immediately after the passage of such
a law this country would loss about
$500. 900. 600 of gold from the channelt
Of trade. 1t would take several years,
running the mints at their fullest
capacity, to coir enough silver to make
up for this loss Of gold money. In tht
meantime there would be all the evil
of heavy contraction Of the currency.
Mortgages and other debts would bt
forced to payment, and the farmers
would find in the general tightness @
the money market the demand for thei
products would decrease and prices fal
of.
There will be great deal Of the OLE
talk about the blessings Of bimetallisn
this year. Now, the fact is that th'
United States is already the creates
bimotallic country in the world excep
France. That is to say, while main
tanning the gold standard of values, W
use as money in this country moro sill
YER than is used in any other civilized
country in the world except France.
The silver men do not want bi
metalisn. Their scheme does not lool
to that end. They demand cheape
kind of money than gold STANDARD
money. This they expect to secure b.
forcing this country down to u silye
basis, 80 We shall be not a bimetalli
nation. but monometallic nation
using silver as our only metallic money
This is the condition of Mexico to day
and it is held up TO us by the alive
men as the ideal situation.