The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1886-02-03

JOHN SHERMAN AS A COMMUNIST.
John Sherman has offered resolution that
the Government proceed to buy bullion sill
yer at its market value, in quantity not less
than two million ounces nor more than four
million ounces each year, and issue therefor
coin certificates, of not less denomination
than SO each. This is one of those miserable
monopoly-building measures for which Mr..
Sherman in his later years has become noted.
1t does not touch the financial question in
the least, except so far as it would affect the
surplus of the silver mines and employ the
men engaged in silver mining. 1t is not only
the demonstration of silver, but ii is in adj
dition the creation of a new monopoly. We
want to retain silver in our currency at par
because we consider that a single gold stand
ard is in the direction of high priced money,
sinking of the values of commodities, and
increasing the burdens of the debt-paying
classes, and not for the little advantage of
few silver miners. The gold bug position is
just like that of Mr.. Sherman, but it has an
advantage of being honestly main
tanned. They honestly ask for what
they want, while Mr.. Sherman proposes
to reach an identical position by cheating the
public who he considers will be misled by
the bait he holds out in his certificate plan,
which is based on the value of gold. 1t is
our interest, financially and commercially,
to get away from the gold standard and if
we can do no better and must have a single
standard that it be a silver standard.
We call upon the farmers of the country
to instruct their representatives to offer an
amendment that the Government buy their
surplus wheat at the market price, and issue
certificates upon il which must pass as
money. Let the iron manufacturers petition
that the Government buy up stoves, steel
rails and machinery and issue certificates
upon them. Let the shoemaker take a case
of boots to the Treasury and demand that
the Government take them in exchange for
its certificates. Let the publisher take the
books and newspapers he can not sell and
ask the Government to buy them with its
certificates. All this is exactly what Mr..
Sherman proposes to do with silver
Whichever value silver of gold, or any other
commodity has, depends upon its use, not
upon its amount. One of the great uses Of
silver is as coin. 1t is because gold has come
to he the sole legal coin of many countries
that its value has so largely increased above
the level of prices of commodities and that
is exactly why il is no longer lit as a measure
of values, and the reason why it should be
diluted with silver. The only financial leg
islation that will relieve any of this depres-
sion is a legislation that will prevent further
IL. l. /.
vance OF gold.
Whenever the Government must go into
the certificate business. let it be upon the re-
cognized standard of its annual income, and
demonetize all metal money. Otherwise it
is ridiculous perversion of justice and law,
and becomes mere machine for enriching
small class at the public expense. The
Government might as well save itself the
trouble and costs of storage of silver
bullion, by issuing the certificates
upon the silver ore before it
is dug out OF the ground. The silver will do
just as much work in one place as the other
Afloating silver coin Will advance our trade
with South America, Asia, Mexico, if We will
| only accompany our act of coinage with
pAOPNA ANSA'iNtAOA III tht tain anu AOA VIC
navy and commercial marine. But there
seems to be total incapacity on the part of
Congress to concert its measures to one COM
mon end OF promoting the sale of our vast
SURPRISES upon which alone prosperity de-
ponds, excepting the single one of COMPEL
ing Uncle Sam TO buy them. That benevolent
parsonage may be rich enough TO give us all
aifarm, but it is base ingratitude to ask him
to buy all their products. We respectfully
inform Mr.. Sherman and his ilk that the pub
lie mind is not yet ready to accept the COM
mune.