Alma record. (Alma, Mich.) 1878-1928, 1898-05-27
Will the Silyerites Yield?

The new currency measure Will prob
ably be brought before the house for
debate in few days when its salient
points will be discussed and the country
will be advised fully of its merits and
dement's. 1t goes without saying that
the silver men viii oppose it no matter
how worthy of support ii may be.
But they Will not have the ground 10
stand on chat it is calculated to debate
the currency or reduce the number of
primary units of money III circulation.
As TO these things the new measure pro-
poses TO make change only IN the
character of the currency and not in its
volume. The greenbacks will be dis.
placed by reserve notes to be issued by
the banks and obligation of redeeming
the reserves will be placed upon the
banks.
The greenbacks as such will be retired
and in their stead will appear the re-
serve notes which will be legal tenders
and possessed of all the functions that
greenbacks are now possessed of. The
greenbacks will be Cancelled and so soon
as they are Cancelled the government
Will be absOlved from the necessity of
maintaining gold reserve and there
upon the vast amount Of gold that is
now locked up in the treasury lying
idle to await demands of greenbacks for
redemption, Will be injected into the
circulation and by 50 much will increase
the number Of primary units of money
in circulation.
If the silver men are sincere i'll their
desire 10 reform the currency they Will
do for this currency bill what the sound
money men have done time and again
for silver, namely vote to give the eX-
detrimental Il trial If in the trial il be
found to be without III, rlt and illadapted
10 the business and financial conditions
of the country it can be displaced just as
easily AZ can the existing legislation, 10
give free silver a trial. Free silverism
is nothing but experimental, the APP
pcals of its friends TO the historical
ratio to the contrary Notwithstanding.
That the financial system needs re-
vision and reform none doubt; the only
point Of difference being on how 20 90
about the work Of revising and reform
ing The silver men believe that the
free coinage principle is right while the
single standard men believe that the
existing gold standard is adequate and
Just Both confess that the currency is
in Il bad way and neither is very anx-
lOuS 10 cure III except ny employing tue
metallic remedy. AS matter of ex-
pertinent it would be safe for both sides
TO agree on the currency bill. 1t would !
be doing precisely what the anti-silver
men did in 1855 and again in 1890.
No radical coinage law can be passed |
at this session. None can be got on TO |
the statute book for the term that |
President Mckinley is elected to serve. |
The silver men ought to face that con-
dition and instead of putting off the |
day of reform, in order to secure the
adoption of their pet plan they ought to
vote for trying an experiment which is
,hampioned by the best financiers and
lblest pubhcists in this country. For
The failure of reform they will be held
and they can furnish the re-
,ublicans with no better campaign issue
han that they, the silverites, stood in
he way Of carrying ont the currency re.
orms which the people demanded at the
POLLS when Mckinley was elected.