Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1902-03-28
ON A SILVER BASIS.

ON ~ Sl6uEn 060l0s
1t is with surprise not unmingled
with grief that we see it announced
that the Philippines are to be put on
a SILVER BASIS. The press of Satur-
day last announced that:
"a scheme of far-reaching Importance
and interest is now being considered
in connection with the Philippines.
1t proposes the unlimited free coinage
of silver for those islands, placing
those possessions on silver basis"
This would look like a joke if it
were not too serious for joking. 1t ie
a fact, and we expect to see the bill
passed in short time. This is what
is contemplated by the Republicans
and If carried into effect will be the
most dastardly crime yet inflicted on
those islands, provided their denunci
alton of silver in this country is true
Read the following extract from lead
ing Republican paper:
ut is expected that when the Phil
ippine government bill. now under
consideration in the Senate Committee
on the Philippines, is reported it will
contain provision authorizing the
minis of the United States to coin
Into Observation-Disclosures dollare all
the silver that may be brought to the
minis for that purpose. If this pro
vision Is enacted into law, it will en-
able the holders of silver bullion in the
west to ship to the Philippines an
unlimited amount Of money. Thus
important results will be achieved
thereby; there will be no lack of money
in the Philippines for commercial de-
velopment and there will be in the
Western States a unanimous opinion
in favor of permanently retaining the
islands. If the Philippines are to be
the recipient of all the American silver
that can be coined, there is no doubt
that strong pressure for their reten-
tiOn will come from the silver States.
The proposition means, therefore,
that these States are certain to be
found in the Republican column in the
next election. /"
The object is appalling. 1t is not to
benefit the Philippines SO much as 1t
is to hold certain Western States to
the Republican party. Could anything
be more corrupt or damnable A Mr..
Townsend, who is agent of the Hong
Kong and Shanghai Bank, an English
man with large interests over on that
side, and who is no doubt looking to
ward his interests in the future as
some Englishman Go, has told the
committee what to do. OF late all
wisdom is centered in bank presidents
and Englishmen. Of course our gov
eminent has seized this very English
idea and will adopt it. 1t will be a
good thing for the Philippines to be
placed on silver basis, but it would
be very ruinous thing for the United
States. If we have anything which
would destroy our government, as We
have heard silver basis would. why
Of course we should be kind enough
to send it to our friends, as in this
Instance.
But how can a silver basis be so
good over there and so bad over here ?
Mr.. Townsend tells US that England
las given such a currency to her colo
lies. Bonn bay has just such dollars
rs we are going to give our colonies.
they are Sc cent dollars, but they
work all right, go says Townsend. and
vs. England has had much more expe-
fence in dealing with colonies than
We. her example should be and will be
ollOWed. So Sc cent silver dollars are
o be made and sent to the PHILIPPINES.
Now behold the distinction between
Is and our colonies. One would have
bought that if the gold standard was
o divine right, as we have been
old 1t is. so heaven born, that it would
lave been sent over there even in ad-
'ance of the missionary. But no. Here
8 what has been done, and here the
eason why:
1.-THE committee has also accepted |
1r. Townsend's conclusion that the
old standard is not advisable. L
now that a great and rich coun.
ry, he said, can easily maintain a
old basis in the Philippines if it
hooses. but l am doubtful whether it
wise, suitable, and most advantage.
US for the development of the coun-
~. and think not. A gold currency
expensive, hard to maintain, and
gainst the prejudices and interests of
le natives, and would rather retard
nan develop their export trade. A
,raight silver dollar is merely contin-
ing the present currency and is best
'r the country and for trade. When
he Philippines become great and rich
nder your government, then will be
he time to consider whether matters
IN be improved by changing the sill
81 currency to the gold, and this
ems to me should be the browning
allure and not the foundation of the