Democratic Sentinel, Volume 20, Number 20, Rensselaer, Jasper County, 22 May 1896 — Page 1 Advertisements Column 3 [ADVERTISEMENT]

C The Fullest Use of Silver. (Indianapolis Sentinel. May?o.) The Sentinel yesterday presented what might be considered a concession on the part of free ooinage democrats. It offers todaT the suggestion of a concession by “sound money democrats." There is a widespread impression among democrats that the present administration has *dis. criminated against silver"—that it has obstructed the free circulation of silver coin that would otherwise have oocurre The Sentinel thinks this impression is erroniouß, but for present purposes it makes no difference whether it is, or not. There is also a wide belief that the large accumulation of silver in the treasury has the same effect in depressing the price of silver that a large visible surplus of wheat or corn would have in depressing the price of those commodities. It is also immaterial whether or not this view is correot. Many persons believe it is, and the theory is at least plausible. These two - bjeotions to existing conditions have been urged by free coinage speakers and free ooinage papers, and there is no good reason why sound money democrats should object to their removal. 1 hey are the res ilts of republican legislation, for which democrats are in no manner responsible, and the correctness o: whose principles is questioned even by sound money demo, orata. xhe simple and rational way to dispose of them is to put the silver in the treasury into circulation—give it actual use instead of having its use only theoretical, thro’ the medium of silver certificates. On April 1. 1896, thero was in the tieasury in silver dollars and silver bars (subsidiary coin not inoluded) the vast sum of $493 . 684.369.49. At the same time there was in circulation of silvei certificates the sum of $337,032,426, If these were retired end silver Iput out in their place thero would remain of the treasury silver $150,651.943.49. Tbiß, too, should be put in circulation, and it can be done by retiring the paper notes of less denomination than $lO. On April 1, 1896, the oiroulation of I these minor notes was ns follows: Ones, $ 14,792,291 Twos, - - - 12,590,697 Fives, - - - 167,012,334 Total, - . . $194,395,322

There is presumably a considerable amount of this $194,395,322 of small note s lost or destroyed, but the retirement of all outstanding would certainly oall into circulation the remaining silver tn the treasury. These measures would give the widest possible use to the silver now in the country. It has been found by experience iu the countries making the greatest use of silver that the retirement of small notes is essential to its circulation. In France, fer example, the government issues no notes, and the bank of France ssues none of less denomination than 60 francs |(59,65). The bank has power to issue notes aB low as 5 francs, and during the last peried of suspension of specie payments (1870-1878) issued notes of 25 francs, 20 francs, and 5 francs, but these have been withdrawn and there ate praotically now no notes in oirouLtion of less than 50 francs Even with this provision about one-half of the total sto k of silver in France is held as bank resei ves. We see no reason why sound money menshouldlobjeo to the use of silver ooin instead of paper money of small denominations. If it be said that a silverdollar has only'ss cents of intrinsic value it may be answered that thi- is just 55 oents more than a paper dollar has. If it be urged that it is inconvenient it may be answered that some of the most enlightened nations on earth have not found it so. And, on the other hand, ws would oall the attention of free ooinage men to the faot that tnis step is essential to the success of their plan if it be put in operation. If you attempt the free ooinage of silver you must open a way for the use of the silver coined or it will glut the markets and defeat the very purpose of free ooinage. Its use must be found in the business transacts sos the people, and if you supply their wants with neper money t*>at field it ocoupied. On April 1, 1896, the money “in oiroulation” in the United States was reported at $445,912,256 gold, $54,792,752 silver dollars, $(>2,9"0,303 minor silver coin, and $964,954,152 paper money of various kinds. Everybody knows that the actual circulation is much more largely paper than would appear from these figures. National banks alone at thet time held $156,894.03i;0f gold and $39 -123,429 of silver, and other banks, tru t companies, etc,, held most of the remaining specie. And note another thing. Whv was the circulation >.f minor silver coin greater than the circulation of silver dollars!’— Obviously because there is no minor paper money. The Sentinel submits that the retirement of silver certificate and other paper money of ies than $lO in denomination is not an objectionable thing from any point of view, and tba a party demand for it would go far toward producing harmony in the party.

Refer* ng to the vile republican plot to extort money from candidates for the U S. Senate reoently exposed by the Fort Wayne Gazette (rep.) the Lafayette Corner (rep.) says; We have said before and we ask no pardon for re> eating the fact that, although we may not be unqualified admiiers if Mr. Tuapie or Mr. Voorhees, it is yet a pleasure to ooncedethat they were elected by the will of the majority of the people on their merits as their supporters viewed them, and without the aidof influences arising lrom the corrupt use of money The pfiblication made by the Ft. Wayne Gazette does not directly nor indirectly reflect on the ntegrityof either Mr. Fairbanks or McKeen, but it will excite wide spread and righteous indignation against those who are alleged to have hatched a conspiracy for the purpose of securing money by means familiar to blackmailers. McKinley is sound on all live issues, including that of finance ' Evansville Journal. Is that so? Well, the entire busines B world will feel much relieved by tho information. By tho way, what is the major’s position on the financial question?

As Judge Wiley has been placed in nomination for the Appellate bench, bythe State RepubFoan Convention, the election of Judge for this Circuit will become necessary. On the Republican side S. P. Thompson has been inquired of and has signified his willingness to aocept the nomination at the n ands of lis party. Mr. T. has been a recognized leader at the Dar of this Circuit for many years, aud has ample qualifioationsIf a Democratic competitor is placed in the field we hope proper qualifications will be the rule applied in his selection* By following this oourse the Circuit will