Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-12-26
sENATOK BECK ON THE SILVER CUES
TON


TON.
Seldom are speeches delivered in the
United States Senate that attract more at
tention than that Of Senator BECE on the
SILVER question. 1t was delivered at q time
when it could lot be answered until after
the holidays, and during the intervening
time people all over the country will be
receiving and digesting the speech, and
the champions Of gold coinage will be
puzziug their heads in collecting data for
an answer to it.
Though Mr.. Beck has let his hot South
ern blood get the better Of him in some
parts Of his speech, yet there are many
things given that will set people thinking.
In regard to the accumulation Of coin
in the Treasury, be says Even the Presi-
dent in his message has been induced to
say that up to the present time only about
100000 Of the silver dollars We have
coined have found their way into circula-
ton. he modified that statement BY
showing that large amount of silver Ger
tiGcates were outstanding. But the press
Of the country has taken up the FIRST
statement, leaving out all the qush6ea
tons, and parade it before the country as
conclusive evidence that too much silver
has already been coined, and that sll Of it
is an incumbrance except about $50000,-
900. They utterly ignore the fact which
the official reports show that at the close Of
the last fiscal year, June 80, 1885, out of g
total coinage Of $2O3OOO,OOO, $l4O,.
100000 in round numbers was
10 active circulation in the form Of
silver certificates, in addition to the coin
in the hands OF the people, of which certiG
Gates 81, $50, 900 was paid to the Govern
ment for customs dues during he last
fiscal year at the port Of New York alone
more than was paid in gold and gold
certificates combined. Why is not the
coin represented by these certificates as
much in active circulation as if it was
passed from hand to hand as often as the
certificates are? ask. is it fair to CON-
plain of the silver held in the Treasury as
being expensive and useless. under such
circumstances, and yet not utter one word
of complaint in regard 10 over Sl37, OOO,.
900 of gold coin locked up, at the same
time and in the same way, represented
by the same sort Of certificates, most oil
them in far less useful form2 If our Of,
6eials would unlock the Treasury vaults
and pay our intereSt-bearing debt with the
money they are complaining of being over
whelued with they would be doing their
duty more satisfactorily than BY the course
they are now pursuing"
Upon retiring the silver certificates and
greenbacks he says: IF we retire the
greenbaeks and the silver certificates, as
our officials advise rs to do, We will have
no currency bot natiOnal-Osnk notes left,
which they can expand or contract at
pleasure. Nobody pretends that in the
reduction of these notes from 1921, OO0, 900
in November, 1882, to S276,OOO in No
vsmbsr, 1885, the pukhe interests or needs
were for q moment considered. / desire
to state with great distinction that / am
not making war on bOndholdsEs or nation
al banks or bankers voted TO renew
their charters. to repeal al taxes on their
capital and deposits, and win eheerfully
vote to any and ell measures necessary to
add to their usefulness, either BY incrsaS
thsir circulation 10 par with the bonds De.
pOGitsd, or, if it can be done with justice