Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1885-09-17
sENArOR STEWARDS TALK
Some Further Extracts From
His Argument.

SOAc r urtnef EAtTacts CIOi
His Argument.
Yesterday the APPEAL publishe
extracts from Senator Stewart
speech at the Opera House. bu
owing to the lateness of the hou
when the copy reached the ofic
did not make full report. Til
following are additional good point
made by the Senator
The national debts of the worl
are over s28,OOO,OOO,OOO. Othe
public debts, not national, probabl!
nearly equal to that amount, t
this may be added all private
indebtedness, which it is impos
sible to estimate. Assuming
that the public bonded debt Of
the world is not less than $4,000,
100000, and we have q sum too
large for human comprehension
but if paid at all, it must be paid
by human labor. The holders OF
this $4,000, 100000 of bonds have
their headquarters in Europe, and
are controlled and directed by such
financiers as the Rotschilds. 1t is
for their interests to have these
bonds paid in money of the great
est possible purchasing power. In
asmuch as every person who goes
10 debt sells money short by agree
ing to deliver something he has
not got, it is to the interest of the
bondholder who has a call for
money in the shape of a bond, that
money should go up, SO that dol
lar will purchase more Of the lux
uries or necessaries of life. In the
year 1871 there was according to
estimate of statisticians $4,000
100000 of gold and silver coin in
the commercial world. The bond
holders conceived the idea Of max
ing a corner on the debter class,
and particularly on the nations
and municipalities who we're in
debt for this purpose it was pro-
posed, first by Germany, to demon
etixe silver, and thereby reduce the
coin of the world from so, OO0, OOO,-
900 of gold and silver, to 5,OOO,-
BOO, 900 Of gold alone. The natural
effect of this move can be easily
,een. It would make the $5O,OOO,-
VOC, 900 of national debts equivalent
@ 800, 600, 100000. In other words
L would take twice as much labor
o redeem the bonds. Germany de-
silver, commencing in
1911 and completing the operation
n the early part of 1873. The
4atin Union, consisting Of Spain,
italy, Holland, France, Belgium
md Switzerland to limit coinage
# silver. They induced the United
States, or rather three or four men
n the United States to smuggle
through a provision in the Act Of
February II, 1873, codifying the
Mint laws, emitting the silver dol
ar from the list of coins. They |
Ilso induced the codifiers of United |
states to improperly insert new
aw declaring silver a legal tender |
or FIVE dollars only. The public
lebt of the United States when
contracted was payable
n lawful money, (greenbacks) ex-
ept the interest which was payable
n coin. The unit of value or one
Iollar of the coin of the United
,tates consisted of either 4124
rains Of standard silver, or % $40
standard gold. The soldiers
uring the war were paid in green
acks. Spectators bought with
reenbacks, received from the SOL
iers, Government bonds at from
,rty to fifty cents on the dollar in
Din. On the 9Th of March, 1869,
ne bondholders having represented
Congress that they were dissatis-
ed with the law under which their
,nds were issued, and that they
anted to change the contract, the
were not good enough
r them they wanted coin. An
ct was Immediately passed agree
x to pay them in coin. On the
lth of July, 1870, an Act was
assed to refund the nations debt,
nder which the entire debt has al
lady been refunded. It was pro-
ded IN that Act that the bonds
sued under it should be payable
oo1n of H. |