The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1876-02-04
SPECIE RESUMPTION.
Senator Jones of Nevada Has q Plan.
[FrOm the Washington Republican.

From the Washington Republican.
Senator Jones of Nevada, has already
made himself famous as a speech maker
by striking the bed rock of rloquence on
the hard money question. He will soon
introduce bill and make speech, in
vOlving law, and the explanation of
two points that constitute his ideas of
specie resumption. He thinks that the
United States ia Obliged 20 reach a coin
basis a. soon as possible and he proposes
TO make the Introduction of silver
currency--an intermediate stage between
paper and gold coin. This he calls one
long stride towards resumption.
This he proposes BY removing
the legal-tender limit, which is now
FIVE dollars, from silver, and making i,
a legal-tender, the same as greenbacks
are: He wants a dellar 10 be known as
the "home dollar" which he says will
circulate here and in South America,
the West Indies and Mexico. the same
"a the trade dollar has circulated in
China and Japan, and the same az gold
coin.
He takes the ground that the tele-
graph and the railroad having done
away with stage coaches and slow mails.
have made il easier now TO transport
silver as an actual precious metal in ex
change than it WAS thirty years ago to
transport gold. For the larger transac-
tions he wants silver bullion used, which
bullion shall he assaved and marked
with the Government stamp TO show its
standard of weight and fineSs. and certi-
6cates issued representing the value of
the BULLION deposited the same as the
gold note of the gold bank represents
gold. He says that during the recent
panic in California silver came forward,
and the jingle of the dollar and the
poor mans ear; that silver is the poor
mans hoard; that the people do not like
to carry gold dollars that will be lost in
the corner of the vest pocket. He anti
! cipates trouble in coming to specie re-
sumption, but he says it must come;
that if our tariff should continue to
keep prices 40 high that we cannot ex
port our goods to foreign countries or
get gold in return, we must make use Of
the advantages that nature gives us, and
show the world that We can get along
with silver currency.
He says that with all the hammering
and pattering that the nations of the
world, especially Germany and the Latin
States, have given to the precious metal
known as silver, they have never been
able to reduce its standard value more
than nine per cent. below gold. He
thinks that Germany made the greatest
mistake of its history when it demonet-
ized silver, and that the day is not a
distant when that nation shall take the
lead in resuming the circulation of sill
yer as legal tender for all debts, public
and private. He would not disturb the
legal tender act; or, he would disturb it
if majority of Congress cared to do so.
He does not think it would make much
difference. He thinks silver has a value
which cannot be disturbed by any inan :
cial depression, and that the nations of
the world cannot denv its value under
any circumstances. He thinks a legal
tender paper and the legal tender silver
currency can get along pleasantly togeth-
er. and that silver will work the paper
out without any trouble of Legislation.
Senator Jones has read all the stand
ard works on gold and silver, unified
translating for him French work that
has not yet seen print in English. A
good many people are mistaken about
Senator Jones. There is more brains
and genuine pluck in him than he gets
the credit of having. One time there
was riot in the Crown Point mine. He
went into the mine in his red flannel
shirt sleeves, without any hat on, and
with a pick handle in his hand. He
dropped the pick handle and with his fist
knocked down four of the stalwart miners
who were the ringleaders. He was soon
in the majority, and the remainder OF
the rnffians sued for peace. Whether
digging with the pick and throwing out
with the shovel, or knocking down and
dragging out on riot days, or making
hard money and free-trade speeches in
the Senate, or making promises to Office.
seekers that he uniformly forgets to KEEP
the Senator is always graceful in move
ment and pleasant in manner.