The daily gazette., 1878-02-07
THE SILVER DEBATE.
serlator ThurInan.

In the Senate yesterday on the ques-
ton Of demonetizing silver MIR. Thur
man spoke 10 support Of the silver bill.
Referring 10 the allegation that the sill
yer would drive the gold coin from the
country, he said IL was impossible for
fifty mill ion silver to drive out two hun
dred million gold. II could only drive
out fifty million, and not that unless the
gold was In excess OF the req uirements
of the country. He did not believe that
France could or would demonetize her
silver. She would rather raise her stan
dard and make 1t equal to gold. Ger
many's sixty million,l ch 1t is said,
would come here, he thought would be
more likely TO go TO Asia, SO far as Ger>
many could spare 1t. He denied that
| there was an linvarying standard of value
either In the one or bi-metallic measure.
There was no production Of earth that
was an absolute standard. There had
never been more prosperous country
than the United States from 1850 TO 1850
| and yet we had q metallic country.
Gold and silver fuctuated as much
then as now, and yet no American states
man ever proposed the abolition OF one
of the measures. The cry Of distress
was heard In our own land and an equal
or greater wall comes from the gold
countries Of Europe. It had been said
that our commerce would be disjointed
by the remonetization Of silver. II we
had carried ON our business for the past
sixteen year, ON an irredeemable paper
currency, and It was hardly possible that
q double standard would be less efiec-
tive than this paper currency. II, ~ al
legged, our bonds are sent back, they would
|soon be recalled, and IL they were not II
would be = cause Of songratulstion that
our bonds were held at home. The
strength Of England and France lay In
the fact that their bonds were held BY
their own people. He insisted that specie
payments could more readily be sustained
by having the true metals, aud that sus-
; pensions which must ct time occur, would
be more brief II the true standards were
used. affa .ul
| A redeemable paper currency could
not be permanently maintained on the
gold standard alone. He had not beer
considered an infiationist, but he knew
OF no valid reason against enlarging oul
, specie basis, and II we are TO have ant
maintain specie payments it must be en-
larged. Should we postpone the re-
monetization OF silver until compac
: with other nations be made TO do IL. i
$ would never he remcnetized. He bopet
e our country would be ranged by the sid
Q OF the bi-merallic States. Let the com
:. mercial world know that we do not In
tend TO abolish the use OF silver. bil
yer was an American product. Man
millions of dollars and the labor Of thou
a sands Of men were employed in its pre-
4 duction In this country, aud TO destro
v Ior cripple this industry would be crue
f and unjust.
|. MIR. Herman followed In opposition +
!. the bill, the practical operation of whicl
he urged, would be TO demonetixe golc
'. Mr.. Christiancy also spoke In opposl
u tion to the bill, arguing that there wer
many points TO be considered against th
Reconsideration OF silver. He though
the present q very ipopportune time {
{, attempt 70 fix the relative value betwee
a gold and silver.
e Mr.. Blaine took the floor to speak ups
d the silver bill with the understandin
l. that he would proceed with his remark
:. at one o'clock Tomorrow.