The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-12-16

he exported to any country in the
world. Why9 Because our coined
silver is not worth its Intrinsic value in I
gold. Our silver bullion went abroad
hecause II Went 40 its market (
value aud not at any value we
might put or il. Ii any adverse change |
occurred in our balance in trade, I
this silver piled IN in our /
treasury would ho worth, morally (
ils bullion value. The governments Of /
the United States bought silver bullion I
from the senator from Colorado (Hun ut /
ls market value. 1t was treated rs a (
merchantable commodity, but the peo-
pie had Alright to take it from the gov |
ernment. or not, rs they pleased, and |
they pleased not to take it, because it |
was not worth $50 grains and |
was only worth 4l2, Suppose |
such an alarm We're sounded as should |
lead to the export Of our gold and dis |
arrange all our standard values, what
would happen? Did not the senators |
know it would create the most
fearful contraction ever witnessed in
this country. Laboring men, when sup
posing themselves to be earning dol
Tar, would be earning only eighty-fivo
cents, and wages would not advance to
make up the denciency. MIR. Sherman
hoped to God such q contingency would
not arise, and he believed Ii would not,
ii congress would act timely,
Mr.. WILLIAMS inquired how MIR.
sherman accounted tor tho fact that
there WAS more gold In the country to-
day than when the silver bill passed.
Mr.. SHERMAN replied that it was
because that until the last two years we
| had had the largest balance OF trade III
our favor that had ever been known.
| When the balance Of trade was in our
favor, it did not make 30 much differ
snre what he had for money. When IL
was against W., gold would 90. Moth
ing but gold could pay for an adverse
balance of trade.
Mr.. WILLIAMS onquired whether II
would not be well to wait until the
balance was turned against us?
Mr.. SHERMAN replied that II
! would then be too late for US to remedy.
Ills idea was TO first stop the
coinage of silver dollars and
wait for q now ratio OF vauo to
be established by the nations of the
world between gold and silver. II he
hW the power he would proclaim in q
law iive lines long, that every dollar
hereafter issued from our treasury
should contain 40 or $50 grains of sill
Ver Then our silver dollar, agreeing
with the market value OF silver, would
become the dollar of mankind.
Mr. WILLIAMS suggested the mon
,eH men could continue 10 depreciate
aud discrodit silver.
MIR SH ERMAN said they could not
do IL. Mouied men and bankers had no
power over this question. Mar
Ket values were mysterious things,
mado up of combinations that men
could not analyso AZ best. Why, TO fiN
the value of a standard dollar would ho
70 commit the work TO y committee Of
experts.
Mr.. ALLISON said that if a strenuous
and sinsere effort should be made tC
secure all international declaration OF
The ratio of value between gold and sill
YER, the effect would be to bring the
coinage value of these metals TO par
githin reasonable time. What We
wanted was dollar with 400 grains in.
, stead OF 4l2H. Abiding to MIR. Sher,
mans reference to market values
Mr.. Allison maintained that the
e market value OF silver was established
? hyIits use. Lot tho mints of France
Gennany, Italy and other countries be
y opened TO free coinage of silver, and II
J. wn had a common standard, the parity
. Of value between silver aud gold woulc
r be again restored, IL had existed from
l7e3 10 1871 on the continent OF Europe
! The question, therefore, WAS afn inter
! national one. Mr., Allison entirely dit
/ Tered with Mr.. sherman as TO the wis
J dom OF coming silver dollars with 40 /,
II iSO grains.
> MIR. BECK said tho silver coinag
u question had never been iUrly cousd
. cred by any administration, or any ofn
i Ger Il, and the reason for the great de
preston in silver was the hostility o
on No ..tfi
d denced more OF that hostilit,
e than tho senator from Ohio, MIR. SheI
10 man IA secretary uf the treasury.
y MIR. SH ERMAN remarked that h
d had never said word against silye
certificates, nor AGAINST silver dollar,
4 except that they should bO made gooC
- Mr.. BECK replied no would to.moi
II VOW read some extracts which would r,
a. fresh MIR. Sherman's recollection.
~ Tho matter then dropped.
on The CHAIR appointed as q commit
oi tee un the part OF tho senate TO atten
o. the executive mansion tomorrow
" take part in tho ceremony Of tho opoi
lt 'uE Of tho New Orleans exposition
a. M"'srs logan, polpb, Cameron, ,QlPaai
~ Vlyarin, Cameron, Ui Wisconsin, IA
'n fi.0n, Miller OF California, Riddlorge
o. P1ndiet0n, Butler, Vest, Jones (ot Flo
d, lido, slater and Walker
OF MIR. MILLER (of New York;, reportC
le iavorsbly from the committee on furcig
vi affairs, a bin to authorize the presldel
'l- 90 acoept invitations from foreign go
~ elnmontS to an internatiOn
20 exposition and to appoint commissions
lg thereto and that an appropriation
o. $25,0O TO la at tn, disposition o. q
or president to cover necessary disburs
monts IN such GASES. Placed on n
ne calender.
w Adjourned.
ie HouSR.
,a The SPEARERlad before the hou
~ communication from tho postmsste
r. general asking an appropriation OF yl0l
ar OlO for postal ear service and $4,000 1,