The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-12-18

,. 49, s,o'.g,nt. and after makinH q
= mowhht tngihy s,num W. 49,, /
oN"rossed the lh'ro .. ,,nai, |
the county would 'oh'lun.
"a lot Inc silver law alUno, 80 lunE - "
worked we'll. II was uuWite IA throw
away IL important Hnd ndmill'd an
yaufaues froIii i,sF az prospective, ifr-
mans hnliy inHpinnfy, dang"r-' lur
Wi'ith, u the lUuli tNtl. tNlpi ,hl
successors may he trusted IN $40 a
Ma SHERMAN sid lao was QUO ol
thns, vhlIelieVpe hi-malalisin tuhu the
natural logic NJ th,ugs II had heon dc
citled over and oy0r again ny thu lniHt
Intelligent nation al tue Murl" lh"'
gold aud silver ~ sr"T ,Sn double
standard az The worries values,
IL was impossible Ia make ih"il al ine W.,
Same market value, because Tor -vp
wears their roialive value h'u nreh
changing. The cNprr ni-nt hau pe"ii
fairly tried by the United states hnu hau
failed. The siluer dollar coming ~" n'I
been IN operation since 1919 Iho to,ns
numl or of those dollars colheu was
Sls7 .OON01O. OF that number only Sti,-
OOO, 900 are now in circulation-iess tha,
one-iourth the coinage. the Dhhhou
reIuuipod la the United states treasury
! That showed that the law 81 oonsress
had not been able a. restore siINur 70 We
old relation with gold. When 'ha, Jaw
took effect the silver IN silver uHl'ar
was worth ~ cents In goid, Now
IL il worth only between ~ nnu
NJ silver had gone down stenuliy
since the passage OF tho act reiereh 10,
| notwitbstand, ny the hope ana peiiei VI
| those who said II We gave Occupation 70
our silver mines we would restore cne
relation between silver and gold. Ihe
on,y question OF practical politics WIS
whether we ought not ou'
| selves To respect what VIC
cannot overcome. Whether we shouIu
not change our ratio ot value petweeu
tha two metals like other hatiohs' or
whether we should follow the example
OF King Clnute, or walt I'LL tho TUE
overwhelms Us. The silver dollar woulu
not be boarded in the stockings OF he
people, even the most ignorant people.
| Every effort To force IL into circulation
had proved Intellectual Every secret ry
OF the treasury had tried IL.
Mr.. MORO IN inquired whether MI
Sherman, when secretary, hnu hni sue
ceeded In buying Si,0O0.UW OF gold coin
with silver csrtiiicatesy
MIR. SHERMAN replied niiirmatively
thntit was because siIvsr,iike paper, bau
hoen maintained Mt par with god by
being received at par by the United
Mr.. MORGAN said they were redeem
able IN silver.
Mr.. SHERMAN said: ayes, by law,
and on their face, but IN Tact ana py
law they were receivable In goid: ne
silver we have coined and of when W.
have such an enormous stock, could not
Toe exported t. any country IN tht
world. Why? Because our coined
silver is not worth its intrinsic value ~
gold. Our silver bullion Went ABROAD
because il went at its market
value and not at any value we
might put o" il. Itany adverse chang
occurred in our balance IN trade
this silver piled up in oui
treasur, would I've worth, morally
It's bullion value. The government o
the United States bought silver bulliot
from the .enator from Colorado (lIlll) a.
it's market value. IL was treated AS
, understandable commodity. but the PEG
ple had Il right tn take IL rom the gov,
eminent, or not, as they pleased, ano
they pleased not to ' tx IL, because snl
: was not worth 4SO grains AM
| was only worth AZ Suppos'
, such an alarm were sounded as shonl'
, lead to the export of our gold and as
, arrange all our standard values, VIVA
| would happcn? Did not the senators
/ know it would create the mos
fearful contraction over Witnessed u
".
, posing themselves to be earning Il u0l
} lar, wouli be earning only eighty-ilv'
, cents, and wages would not advance U
3 make up the denciency. Mr.. Sherman
I hoped to God such contingency wouit
a NOT arise, and he believed it would not
5 if congress would act timely.
$ Mr.. WILLIAMS inquired how MY
r Sherman accounted for the fact tina
there was more gold in the country to
I day than when The silver bill passeaH
g Mr.. SHERMAN replied that it wa
/ because that until tue last two years W
a had had the largest balance OF trade i
q our favor that had ever been known
n When the balance of trade was IN on
G favor, it did not lake so much difiei
o ence what he had fIr money. WEN m, J,
e was against Us, gold would 30. Noun
@ ing but gold could pay for au advers
/. balance of trade.
# Mr.. WILLIAMS enquired whether
O would not be well to wait until tn
l. balance was turned against us?
Mr.. SHERMAN replied that
would then be TOO late for us to remedy
coinage OF silver dollars an
wait for new ratio Of Valne t
:. be established by the nations OF th
!. world between gold and silver. Ii Ia
hat the power h. would proclaim IN
law five lines Icing, that every dolla
/. hereafter issued from our treasnr
should contain 40 or $50 grains OF 81
- YER Then our silver dollar, agrGcin
. with the market value OF silver, Woul
l. become the dollar of mankind.
IS MIR. WILLIAMS suggested the NOR
=. led men c0nid continue 10 deprecia'
and discredit silver.
Mr.. SHERMAN said they could ne
Y do it. Monied men and bankers had II
:, power over this question. Ma
a Net values were mysterious thing'
~ made up of combinations that me
u could not analyse at best. Why, to II
l. the value of Standard dollar would b
l. to commit the work to a committee
experts. ,eox "a +,.t; e strsn,,or
f. and sincere effort should be made
Z, secure an international declaration
% The ratio Of value between gold ana 81 81
+ YER, the effect would be to bring th
= coinage value OF these metals To pa
within reasonable time. What "
It wanted was dollar with 400 grains ii
h stead of 4l2%. Abiding To Mr.. She
mans reference to market value
If Mr.. Allison maintained that III
% market value Of silver was establishe
bysits use. Let the mints OF franc
It Germany, Italy and other countries Q
IS opened to free coinage Of silver, and
" we had a common standard, the part
of value between silver and gold woul
Q he again restored. 1t had existed froI
l. 1893 to 1871 on the continent of Europ
The question, therefore, was an int
\, national one. Mr.. Allison entirely ~
1t ferad with Mr.. sherman "a to the Wi
dom of coming silver dollars with 40
B. 4S0 grains
4 Mr., BECK said the silver coinap
question had never been fairly consls
D. cred by any administration, or any of
$ Ger of it, and the reason for the great III
II preston in silver was the hostility
i our government. No man had ev
1 ne hof