New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-02-20
.xnor,s ., England alone for tho year 1884 wa,

he rates thargrd Tor the usc Dohty in England
lower than those Of ANY other couniry ~ thn "ynG
Thercfore claim, SIR, that the G. ntIehcD who tssa
their arguments the continued cohaee 81 our Irsri
silver dollar the ground thai we require more .o.y
have no lust gioubds tor theil aIgunchs u PactfJ
| experience and not theory IL 10 De our g"ue
But str, elsim that II France any examP;c Tor u;
10 follow as 10 her pcT capita circulation ~ lcN1, AM
mai II all money money when you come 10
duced and she WAY mOiey II used II thlS nupl "L ID
France we have to-day per capita circulation eguira'
ieut 10 double that OF France, ana competent Judges
sIiut, II Al the equivalent Of five times that Of France
Ninety per Of our entire mctaIe hhd paper money
i ustt Ious of the country at all Zines available 10
those ho require 1t ana can give satisfactory security
Oar system Of checks. used by all classes Of our coin.
nunity anu which 10 practically unknown III france OF
used only TO limited extent, more tnah doubles
The volume Of aabe mohey ms, loge'hef wli9
he further well known f.cs tl%t Iarse lroporon o,
the metallic Of France Is ia me money drawers OF
the people Instead of the Bank OF France orta bfance'
he only banking Or tat eO t s cnS
roboTates my statement
now fRR Gil LABOR FARES.
Hearing 20 much have about silver being the pool
mans money ana France so oen qhoted AS iocde iof
ma in follow IN connection with silver coinage, my faith
r., NV avn convictions In regard to this subject. that
silver dollar was the poor mans dollar but
a fraud and cheat. became shaken; for II II was going
20 hrIp me poor man. aud cOnid be convinced OF tho
fact, then would most ncafthy ""'P' 'Ho Views VI
| NOSE With whom now differ
Trsncr and Belgium the two principal notions OF
the aIiu Union, aud France 1o-lay mas l.r.sr silver
circulation than ali the rest OF the European nations and
The United States combined. II silver. therefore, IS
the poor mans money, ana as France mas the
most OF It In circulation, the statns OF the
.aLoring man IN France should prove the truth
or is say Of this proposition. tntisnd Dtlhg goa
country with only subsidiary coinage oil silver ahd Tue
sracoass those countries being ohiy sonr iory miles
apart and the relative conditions o the TWO countries
beng as nearly the same s you can hhd TWO peoples u
occurred to me Win t6s, Of France and
belgium. (Mr scott then presented table Of
lDs compafaliye rate OF wages paid IN England
win i6"se paid 10 France egiun, which silver
countrieo 1t viii be seen rom ms table care,
fnly complied by expert stastlciau from Official and
other trust worthy sources that the average rates OF
weekly WAKES paid IN various parts Oi hhgad IN Tue
year persons employed IL nineteen trades OF oc
nations 1tcedcd the average rates laid IN Franco
during year IN the same trades IA per cen.
,ts France and Belgium % AZ per cent In
other words. for 81 paid ON an average 70 nineteen
dIGer-t In-chancs In France 81 ~ 4-lOO
WIS paid IN England aud for every ri pad on al ayer-
,e hroug France and Belgium 81 "a was pald ID
assert that France, Notwithstanding her reputed
wealth IL to-day more Nretched condition Doln
luls of tie word. It well known That her popula
on Las Increased in smailer rano than tSs s Si any
Dor nOIe poorly paid sth1ugh ~, 10 "out r. 3ps
iha i,os"t have given are based upon data
ami lave TO have then 70 II certainly re-
yeas remarkable uniformity Ia the per capita require
nr Of thr four nations named, without the All OF the
L.tn Union regulate the subject, anu when eft to
! the natural law Of supply and drha"d
Ines. ngures -ouiJ cad to believe hat this coun
Try provided paper money docs not enter To ~
teriere with the circulation, ABOUT one hundred snd
slxty millions dollars silver for absolutely suosdh
any pu and no more ID eolG sIbdvdec INTO iae
lions " dollar which the most convenient ID size
for the Tor which they are intended.
Monty ENOUGH HERE.
That we have abundance OF money in the country
for our present needs practically demonstrated by the
met that millions arc lying Idle to-day with prospect
f early employment Meanwhile silver Is deprscating
in value II the status of this metal cooid be
,re.een the principal element Of uncertainty would ba
eliminated Or Il We could Judge OF the future valuation
OF sllycr by past history in the money snaeos oi
Tho world one OF difficulties under which we labor
would be removed But IL may be taat SILVER is no w IN
dergOing change, the result- OF when the "scs Oh US
foresec It thls DANGEROUS uncertainty that has
prccpItated our present complications
WHAT Tux SOUTH NEEDS.
Tho South and Southwest want railroads; they want
their coal and fields developed they want the great
.tur. advantages they possess for manufacturing dc
yeloped tier naturally productive soil cuvatec ane
OF which probably ono-eghth 10 now under cul'lVa
ton To accomplish this capital Is necessary, ana mol
money IN the sense m which they coniouhd ne W.
soris vii unlimited coinage OF silver whlch y no
'ur money supply their w4nts Ia lhls respect sHu VIZ
the South Southwest realize their expectations foO
Ts,y sir they will not hut the effect will be TO check
the influx OF capita to these sections "a'en money
aud there was no Oult shadow or duubt IS 70 ne
when IS ON A parity with $4,000 or gOld however
may b. to loan II. even at low ate OF inter
whether am to receive 10 when due anythDs
less than It's value wnen parted WIN H. Il tnsfs
any probability my being forced to take depecAsd
| currency, nominaly worth $4,000, nut lhUhslCAnI
] W.
my gold and lose my interest than 70 oah II ~
such contingency. IL is this great rear nshglus S
the country to-day. which. In my Judgneht Vas uon
more bring about the present sta2hatioh Oh 0u"'
taan any other one fact -, . -, ,,..,,o
owning II the great uncertainty 81 the IItuie ~
connection with tho money OF thr country, GIItor
mount interest OF the debtor he Is al honest
aud proposes to pay his lu't obligations - 70
money at The lowest possible rates OF iner's
nj which money is being loaned In the United states 20
day are lower than they nave ever been ~ III" hs.oa!
The country As soon as this money becomes depre-
! I'd IL.
fiat money the OF interest viii Immediately 40
vance The uncertainty OF those who are willing 70 oan
IL under condition OF affairs VIII cause thelh 20
dcuAud higher rate OF interest Tor thiS ueDaIs me-.
than they Otherwise would TO protect ,,7, in =,
rurance against possible further dcprec1tlon ~
when paid and the debtor class or the country VIII "
the greatest sufferers thereby .'
MIR. sCoTT's BILL.
The provisions embodied in the bill just read are 50
,mple and 81 free ambiguity that the weakest III
ect can comprehend them The measure does not de-
uouetze silver; II does not provide Tor stoppase OI
tue coinage OF the silver dollar nor change III any ma"
ner It's weight nneuess In fact II raises the m
OF its coinage $400000O per month AS 'hltrH ~
the act of 1873 to pos.ibe twenty millions month
| m miuts of com 80 much, anu u
the p-ople OF the country want II coined; ,.A.
Why then, can not any gentleman on thls moor ~
ucyrs In bimetaic standard or who fayOTs the cohun
ued coinage the silver dollar vote forI VIII MS Eo'e
IN It's favor in any conflict with his past reSoru
fail that 1t will If So would be glad to hear .ss
such opinion. Ii Is rue II leaves the
+, he seope Are we afraid to themi Are they
not better Judges of what they want and do not want
than aTel 325 gentlemen on this floor better
able &c solve problem than the people thensevest
Let Us briefly consider the results OF tue passage OF
surh bill from q bmetalio standpoint ana st US ses
whether it is not more likely in the future to estahsn
mstalsm the standard Of the values OF the Wofil
than the law which governs our hllvor coinage IL
surL can be adopted, VIII unlimited ell
YER age on our part result in forcing England ana
| Germany into bmrtsllisa or Induce France anu 'he
ann linton 10 renew that which they have now sopptd
the coinage OF their dve-franc pieces host assurody
II would not, It would have directly the opp9ss
feet for such a policy part. II continued inhef
neiy will OF later bring us to SILVER dL
| and liy m
| ar Az 10 be coined that NAV produce this ohange 49,,
II will come sir nkc thief In The night, wheh .eaJ'
expeoted preolpit ated undoubtedly, by some ooh,ur
ION of trade. which law anticipate ana Nuen
that day comes, ard we require every ds.r OF ncn
we con coutro TO peops nom bankruptcy spu
ruin nearly the entire MAS oI our sod com,
10 5000 900 O0O will not only be driven rom CIT
ton hut out OF the country INTO those countries az
gold Ia the standard thereby Strengthening thsn VI @
position they occupy, leaving US 10 loVoNu go ~,