The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1886-01-28
EUsTIA ON SILVER.
The Louisiana Senator's Views ON tho Coin
age Of Standard Dollars.

| hHo OF hthnuhfu DOilhrbs
Mr.. Elstls addressed the Senate on the
| 18th upon the silver question. We were
told In 1873 he said, that wa could not
bicOme blmetallic nation without an
arran cement with other nations, estab.
liahing the relation OF silver 10 gold,
aud that the silver coinage legislation
then proposed would food the country
with silver; that gold would be exported
In large quantities, and that the securi-
ties would consequently depraoiate.
The gold men then predicted universal
diatTess az sure 10 come, Since that time
actual experience had taken the Dlaoo
OF speculation the law OF 1873 had been
eight years In operation, and none Of
the predictions had been realized, Silver
and gold were still full legal tender.
The Pr rlsldent had told M that there was
not enough silver now In circulation 10
cause any nneasiness, AID that the
whole amount now coined might after q
time be absorbed by the people without
apprehension, but that II was the cease
lfas stream that threatened 10 over flow,
sc, We we're TO understand, then, that
this silver dollar IL an honest dollar
when absorbed by the people, but
dishonest when offered 10 tie bond.
holders. We're one 10 have double
standard OF morality, one for The neOple
and the other for the bOndh0ldeT1 We
rad not been informed that any
unusual expectation OF gold Occurred;
nor that gold aud silver had parted
COMPANY. We also know that the
bonds had not deprecated, they belng
worth more to-day than they were In
1873 Since 1878 we had coined $685.
100000 Of gold aud S2l5 900 900 Of rilyar.
Our financial Legislation had received
the approval OF the country aud we
should have the courage 10 maintain
our position aud TO surrender only 10
lhe force OF argument. IL would be an
appalling admission 10 make TO the
country II we were 10 create financial
policy every few years and then destroy
II merely because persons high In
authority had chosen 10 differ with US.
Mr. kustls reviewed M some length
the history OF our coinage, and also the
financial history OF France, whose OK.
ample, he said, we could we'll afford TO
follow. France had q total silver coin
ace In circulation, including French,
Belgian aud Italian silver OF t780000,.
600. without including subsidiary coin.
II that amount could DO absorbed with
out unea iness or disturbance IN France,
lot our executive officers explain 10 us
why the same process OF absorption
could not safely occur In this country.
After eighty years OF experience France
IN determined 10 maintain her pOllcy.
AZ the present rate OF coinage In the
United States II would take 0a lifteen
years TO make our silver coinage equal
In volume TO our gold coinage, aDd II
would take ns Il teen years 10 reach the
existing volume OF Ayp-iranc pieces
now In circulation France. Our
population, resources and enterprises
| being greater than that OF any Euro.
pean country, Why could we not with
perfect safety approximate the financial
condition OF Francep There was but
one reason. That reason was, that In
| France all departments OF the Govern
ment were In hearty sympathy with the
| financial policy OF the county, andIac-
lively cO-Operated with the people 10
snstaln II, because In France "publlc
IN 20 In a public trust" while II would
seem that In this country that patriotic
maxim prevails only 10 limited extent.
fhe results OF the Congressional policy
Of coinage had never been fully teated
according TO the true intent aud spirit,
because our Executive Department. had
In ite practice manifested an unfrlend-
illness to that policy, and by partlallty
and discrimination, had retarded IL. II
that department had not Disseminated
In favor Of the bondholder m against
the people. lts representations as TO
linance would have been entitled TO
more respect.
In conclusion, Mr., Eustls said: III
thia dlslegal practice OF inciylam by the
Executive Department In declaring war
against silver coin, which IL coin Of
the Government. In bellttling ita uee-
fulness, In depreciatlng its existence,
aud In inviting others TO believe that II
Ia q deiormed offspring Of Legislative
imblcillty--it II Ia TO continue, thon
some Of the evils that have beea predict
cd may come 10 paes; bat those evils will
not be attributable TO any vice In our
financial syatem, but TO the practice aud
assertions OF the Executive Department
In dshonorlng aud dlsCrediting the
coin, which II In their duty TO sustain
by oil the influence and power Of their
Official authority"