Show EVILS or OF SILVER COINAGE thinks it would lend lead to terrible disasters whilo I 1 have to make a I 1 alln enill elm tit nt of tile the desoi alsol lend condition of our ot anti anil the I 1 its tit our all and to suggest a way which leads leadia to ft a safer financial system I 1 have eon con r had in mind tile the fact hint many of nt my countrymen whoso sin ceilky I 1 do tint not doubt insist that tile the cure for the ills now threatening us u m may bp be found in fit the ho single an aal I 1 simple remedy of tile the fr firc coinage of silver they contend that our mints shall ile he at once thrown open to tho the ft faie unlimited and independent coinage col of both gold nil an I 1 silver dollars of tull full legal tonder quality ciu allty of oc the action ot or any other government and tit in full view of tho the fact that tilt the ratio en th ill mo metals atals chith they calla ca alls for cents woi woith tit of got I 1 in ili the soil goll dolani at tile tho stan standard dald art arid only ro cents in intrinsic worth of silvon in the he silver 1 d I alar there infinitely stronger stron rea rons than can ho be adduced for hoping that quell luch action bould secure rot foi ua a film bimetallic taille curi oncy moving on oil linus of nt parity an tit BO novel and haya idous as that pio pi opened proposed might inight will Bt mt ifer ilger who believe that ity lq 14 an imperative condition of sound money mono Y no g no human conti hall hanco or act of ogis lias has nen en ahlo able to hold the two metals tog together ethor in free coinage nt at a ratio ap different diner ont from that which IS in established c in ri the markets of the world bhoge who believe that our independent coinage of silver at an artificial ratio of 18 16 to 1 would rector the between the metals and consequently ly between the colbi coing oppose an and improbable theory to the general belief and practice of other nations and to the teachings of the digest vl iest statesmen and economists of the world both in the past part and present and what Is far more conclusive they run counter to our own actual experiences twice in our earlier history our lawmakers in attempting to establish a bimetallic currena currency curre ncr under undertook tok free coinage upon a ratio which accidentally varied from tho the actual relative values of the two metals not more than 3 per cent in both cases no atwith standing greater reater ff difficulties an and cost of transportation than now exist the coins abose intrinsic worth was waa undervalued der valued in the ratio gradually and surely disappeared from rom our circulation and wint want to other oilier countries whore here tilt tedi it binl value was bettea alid acts 0 of compress Con press gremm were mere impotent to create quality duliere w hero natural causes d dodged I 1 eed even a slight inequality in our recent wo we have signally failed to ralso ralan by logi legislation tho tl alue of ismer under an all act of 0 passed in the alvein mint was for more than twelve ienus to expend anini antil illy gilly at least hast 24 in the purchase 0 of silver or bullion for col collingon lingo the act of 0 july 34 14 IMM 1890 in it a still holler effort in creased the amount ot of either tho the government gove e wits was compelled to t purchase it and nd forced it to become ti alie to I 1 uyer annually of 64 dunem or practically the product of our mines both lann la rapidly rap lilly and steadily declined in value tho the plo pio phecie and tile the expressed liopo hope an and I 1 expectation act pec tation tion of those in who led in tho the cassago ot of the last men tinned act that it would re reestablish establish Sta blish and maintain tile tho feinier polity between tile tho two metals are arc still fresh in our memory WOULD LEAD 10 tit in tile tho light of those which with tho the of other nations thein Is in certainly no found for tile tho belief that an act of congress could now bridge an all inequality of BO 60 per cent lie rold gold and silver at our brement batio nor la theio tho the least possibility that our country which has loss less titan than one sev bov crith of tho the fiher money ln in tho world could by its action alono alone ralso raise not only out oui own but all stiver silver to its ita lost ratio with irold p old our attempt to accomplish this by the freo free coinage of silver at a ratio dafft I 1 ing widely from actual relative values would bo be tho the signal for tit alo complete of gold from our circulation tho the immediate and laio laigo contraction conti action of our circulating 9 medium and a shrinkage I 1 in ll 11 the rea real I 1 value and monetary efficiency of at all I 1 other forms forma of currency curi ency as aa they settled settle d to tile the level of silver mono lively one who a fixed salary and every worker ork pr for wages would find and tho the dollar in his him hand ruthlo ruthlessly Baly scaled dow ION n to a point of bitt bitter D r dt disappointment 11 ap it not to pinching starvation sta r va A chango change in our standard to silver diver would also ming on a collapse of tho the entire system tit of credit which when based on a standard etan dard which Is and adopted by the worl I 1 of business la in many times more potent and useful than the entire 0 not of outre nv and Is capable n of f almost indefinite expansion to meet the growth of trade and enter enterprise prime in a self invited struggle through dark n nass e sm and uncertainty oui humiliation would bo increased by the niss that we had parted company with all the enlightened and nations of tho the world and were desperately and hopelessly stil ving to meet the stress of modem com commence comme moice ice and competition with it a debased and ble currency and in association with the few weak and laggard laR grard nations which have fiher alone as their standard of vainer all history warns us um ag chist rash ex e perlmon tf u which aich chrt aten violent changes chai iRes in our monetary standard Litan dard and the degia degradation dation of our currency 1110 P enst t Is full of lessons teaching not only the ti le danglis dang cis but tho the national that follows in the tiala of ruth nueh experiments I 1 will not bellevo believe that tho the anellean Ameil Am ellean can can bo be persuaded afir mobil to thelt notions nation a and phoud standing ly by finan ceol caal nor that they will yield alel d to tile falso false allurement of cha cloap P nione when bell they real lse that it must ri result sult in the weakening of that finan caal integ integrity lity and rectitude aich which thus far in our history has beer been go BO de devotedly voted cherished as ono one of tile tho traits of alue lean ism UNJUST TO our countiss counti count ys lys whether owing owan by tile ol 01 existing individuals lini lin ing i ban con coil with lefel llo to out present standal 1 I to decree by at of of con gl ess t hut fill t these bolts dolts sah I 1 IB 0 payable me in gsg li valuable doil dellaia L tann with it in ill coil con contolini tein toini I 1 lallon at 1 n mil it it I 1 intention of tile I 1 1111 at lit its n alim ahll onti acted N would 11 ill opp biale bial to by tile hat flat I 1 0 t law and tin nn anlo cult of and a of nc righta an all I 1 almost incalculable 1 allf hom who alio adv advocate ad ovate a blind and licad lonK i lunt in ill fife coinage in tile tho adine IM of find tile belief contrary nry to all that 0 io o could thus estal liah a double stan dmd all and IL a 0 ol 01 f loth mi anin in our icat eata it floell a cloudily point standard of allies Is the stan standard daid of tit ri maill and permits permit mit alio t 1 10 only now nr r a at t 1 hast ast that Is within tit tha inkpen half pendent reach of any single nation how bow evir powerful tint thit N altion amny mil Y be while ib the or of as a MandL rd it Is sleada 41 by almost universal and business use it arh 10 H not despise i liver nor s ek inq lt N lickver tills thim stand nid Is there IS in at its side in ill flip unquestioned elleu lation a volume of slier r curr ticy sometime time s equaling and financil som Finin cil olmes ims men een R it in amount both alioth maintained at a parity notwithstanding a do d oi fluctuation in tile value of aliv Is a vast a standard of value and a en riney for monetary use the standard must mist be fluid aal an 1 1 alio llio I lle ruri curi ency oncy in ty bp in diverse gillims and ot of arlous kinds no silver stand bland it d 1 I country hai bag a got rold in ili circulation but an enlightened and wise hvatum stera of finance secures the of both gold and silver as aa surrency rency and circulating by standing atan stan daid dind stall ft and all other oilier cum ny at par with it much a and such buch a standard also rive five fice s lope for tho the uio and expansion of baar P and ali conservative so BO le lc to broad and fians actions and so well substituted for the actual use of money if a fixed find and stable standard Is maintained such its as tile tho mig to and safety a fety of our commercial transactions and require the use of money itself Is conveniently lollar dollar of axed and stable 1 hai 19 9 through tho the agent of confeld nt lit eifolla an 11 ll astonishing as toni shing capacity of multiplying iti itself elf in financial work rociy unstable and fluctuating dollar falli its as a basis of credit and in its use bagts gambling speculation and undermines the foundation of honest enterprise I 1 have ventured to elpi aso in mi self on this thim subject with earnestness earnestne ha and plainness of speech bicaise I 1 cannot rill rid myself of the belief I 1 that flat there lurks in the tit proposition for the free fre coinage of sliver silver so strongly stron ply approved and so enthusiastically advocated by a L m multitude u iti of my countrymen a serious berl il iu s menace im en to our pio prosperity and an I 1 insidious n sl dious temptation of our people to wander from tho the allegiance they owe to public am and p avate integrity it ia fis be because leaurel leau 7 pel 1 i 10 lo do not distrust the rood good faith and sin pill of at those thome who press this scheme 10 i that I 1 havo have linin but with zeal n my thoughts though ta upon this mo kj k I 1 men subject I 1 cannot retrain refrain from h ing them to re reexamine examine their views and beliefs in tho the light of pa and familiar experience experienc el I 1 and to weigh again and again the coni 4 sequences of such buch legislation am their r A efforts have d invited J alven ven the continued t 1 1 I 1 limitation a in of the subject adds 11 ll inta g kratly I 1 y t to t tho ho of a danger 1 OUR oun financial situation already forced j 1 upon us un 13 01 4 IN CONCI conclusion fUSION in III I 1 especially entreat the 41 peoples leople B in the con t t krenn gross who are charred charged with the re i ot of measures mpa aurea 4 t for the safety anti and prosperity of 0 our e 1 hinmon common t country to promptly and effectively consider tho the ills ilia of our critical e nn financial ancial plight I 1 havo have suggested a remedy which my judgment approves I 1 I 1 desire however to annul e the condri us so that I 1 ELM am prepared oooo to cooperate op prate with them in perfecting any ja other measure promising pron thorough and 4 practical relief and that I 1 will gladly labor with thorn them in every patriotic endeavor to further tho the interests and cuard tho the welfare of our countrymen ILL whom in ili our respective places placa of duty doily 11 0 v m a 0 jim ha e unde staken to serve nerve W 0 8 washington D C V executive mansion 6 iccomb IX cimber r 2 1895 I 1 r |