The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-12-10
SHERMAN ON SILVER.
NOT AN ENEMY TO ITS USE AS
MONEY,
But Wants q Dollar Worth One Hundred
Cents-Advantages of the Change,
as Stated by the Ohio
Statesman.

CHICAGO, Dec. 10-The Inter Ocean has
the following special from Washington City
In conversation with your correspondent
Senator Sherman said in reference TO the
proposed stoppage of silver coinage:
81 am unalterably in favor of suspendng
the coinage of the present silver dollar
Some persons seem to have the idea that |
am in favor of the demonstration of silver,
but they are very greatly mistaken. What
do want to see is an honest silver dollar;
one that is intrinsically worth 100 cents; one
that will pass for dollar anywhere in the
world, because it is worth it, | regard it as
mistaken policy to ISSUE a base coin and
stamp it dollar, when it is only worth IS
cents. The silver dollar now coined has 4l21S
grains of silver; | want to see it contain
470 grains. l believe there is nothing now
in the power of this government to do that
would give such an impetus to business, in
all its branches, as this. Just let congress
pass bill of four lines, saying that here
after the silver dollar shall contain 40
grains, and the effect on our business inter
ests would lie magical Its effect would he
not less than that which followed the re
sumption of spacie payments. am SO conf
dent of this that | would stake my replta-
ton and all am worth upon it, Iexpect to
| live to see such measure adopted. 1t is so
| plain proposition that its adoption can not
be long delayed l would recon all the
present silver dollars. We would really lose
nothing by it, as We have the silver,
and the waste aul cost Of rerninage
| would be very trtiing. 1T is true we
| would not h:.Ya as many dollars, or
what purpOrts t. he dollars, as we
| have now, but trey would lie worth far more
| to us. Instead Of d coin that is only current
| at home, because the government has
stamped it a dollar and is obliged to receive
| it at par we would have coin good any
where in the world. We could use it abroad
in all foreign markets whenever the balance
| of trade is against u.s. and where we cannow
use nothing but gold 1t would greatly in
crease the volume Of currency availa-
BILE abroad, and would act as
a powerful stimulant on all
our commercial interests We have
now about $lS0,000,000 of silver. 1t is
claimed that we have made profit of S25,
200 or $50, 000, 600 by the coinage of al
these dollars, but that is only fiction These
debased dollars only cost US say Sl50,0OO,
000 which the stamp of the government has
made them $3.50, 900, 900, but they are only
worth the $50, 900 that they cost
There is a large apparent profit, as they
are pleased to call it, but when you lool
at it squarely you can see that we haven't
made anything There is no more value
than there was before. On the contrary, ",
have lost great deal by coming these dol
lars, because we have put all that good sill
yer into the shape of bad dollars, that nobody
wants and that nobody, even here at home
will take if he can avoid it. We have Iru
it into such form that it is perfectly useless
outside of our country II is not even
worth as much as the abused Mexican
dollar, for that has moro silver than ou
standard dollar If we would cyel
our silver into dollars of 40 grain
we would drive the Mexican dollar out .
the markets of South America China. aft
India | am not in favor of the McPherso
bill, now pending i'll the senate, because on
of its prime obiects--by the retirement q
the 81 and 81 n0tes-is to force market fU
the silver dollars, Sl40, 009, 900 of which M
lying idle in the vaults. Give us an homes
silver dollar and it will find its own market
1t will not need any legislation to force
into circulation. Gold is the acknowledge
money standard throughout the civiliZe
world silver is fluctuating in its compare
l tive value. Four hundred years ago hgt
5 ounces Of silver were equivalent to one ounc
q of gold, now the rate is eighteen to one
o is perfectly idle for us to attempt [
d force this debaSed coin upon other nations
u they will not have it, and we cannot max
o them take it. Let us give them a good do
A lar and they will be glad to get it. do no
5, however, think any action will be taken b
u the present congress. There are too man
Il who worship the present silver dollar, l ca
$ not think that | am mistaken in my view
y 1t seems so clear to me, that am surprise
b others do not see it. l believe, as | hay
e said, that the time is not far distant whe
o the matter will be seen in its true light. v
e will then melt up our bad dollars and issl
6 good ones in their place. You will see tn,
it l am not an enemy of silver, but, on Il
d contrary, believe | am its true friend
g has got into bad company, and | want to 81
y it get out.