The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-14


duct in relation TO the act OF 1873,
his great financial abilities (exerciscd
they have always been in tho interes
the money power), will not be recor
which he will be proud when he cd
before the people. Notwithstanding
the pretenses about silver, he asst
that in the banks OF England, Fra
Germany and Austrian Hungary,
was not in excess OF gold that silve1
there at par with gold, and It'd
whatever. The bill which he had
duced had been voted for by five
eleven members OF the finance conf
1t proposed to issue coin certifca ~
stead Of gold certificates. This ~ ~
first great step for the country tot1.<
Silver had It's friends among the ped p RI
large, but IL had never had an enem/
had done 30 much harm as the 1
from Ohio. That senator was one
very ablest men in public life, and H
because OF his great ability that he
regarded his policy rs dangerous =
great misses OF the people. He me- no'
charges against the senator to repud|
or anything wrong but he thought ~
his policy was death TO the best int
the efforts OF the national banks to proVunt
the coinage OF silver, he spoke OF thoco
banks rs failure, as OF no longer of nv.
account as OF going down every day. ~
to Mr.. Edward Atkinson's report on ~
silver question, he said that that gentIos
man had not even pretended to notice III
fact that great parliamentary COO
mission under Lord Idllsleigh hoI
investigated the subject and he
reported 10 tho Queen that III
business depression everywhere prevailine
had grown out OF the great conspiracy d
1873 against silver, between England.
Germany and the United States; and That
the restoration OF silver 10 its leg;h tender
quality was all that was wanted. lie road
a letter to himself from Mr.. Edwards Pier
point, calling attention TO the efforts Of
the national banks in their convention Ia
Pittsburg last November 10 suspend In
definitely the coinage OF silver, aud IT.
ing that such indefinite suspension me-
Just what the English wanted CominQ
back TO the report Of Mr.. Edward Akin.
son, he spoke OF Haas, doubtful and ~
spectacle man, but doctrinaire, al n01
the sort OF man whom he Beck would I'D
any where 10 take care Of silver, any o1o
than ho would send out wolf 10 tako cnro
Of the lambs In the blue grass region q
Kentucky. <
air. Hoar reminded Mr.. Beck that ~
present administration had sent Mr.. ~
kinson TO Europe. 1
Mr.. Beck-l know II; and that Is No.
complain OF. Oh, bless you, thero r.1
gold men in the Democratic party I'd M
as in tho Republican party. We aro ~
divided exactly on that line. And (1cGo
are some men on the other side 81 tho
chamber who stand by in sustaining ~
yer. In conclusion he said that lac vooI<
call up his bill Tor action nj an early I1I
when he would see whether the e.
agreed with him In thinking his bill 1D
in the right direction. lie was MOI rs
that silver should not be coined up & ~
maximum OF the limit instead OF the m|n-
imum. ~
Mr.. Sherman said that as a matt a.
course, he would not undertake To rcu|y %
the arguments OF the senator from Ken
tucky on the silver question, but he would
reply briefly 10 one or twomaticrs Of au<r-
sonal character which the senator lr1m
Kentucky felt justified In lugging into -
controversy. The senator had never ioun&
him (sherman) lodging responsibility
evading anfissuc. The senator's ansv|
today TO what he (Shcrman) had Z
when he last spoke on the subject,
lame and impotent 10 the ~
degree. How had he answoro<
IN BY going TO tho Record 81
seeing whether the demonstration nu
was put through In secret way7 Nd r.
all; but by quoting speeches made on ~
stump or In the Senate and grossly nj.
plying them. Ho (Sherman) was n6u
able, from the original Senate record ~
show that the bull in question had b0@n
openly discussed, fully considered, ooI.
mitted 10 public opinion In every iorm. -
side Of Congress and outside. IL was "a q
bill OF his devising. lilo had never soon &
until II was sent 20 him as chairman & ~
finance committee by the Secretary & -
Treasury. II did not become a la -
three years afterward, and In the To-
time II had been printed thirteen d.
and had been debated over and oU1<
again. Copies Of the hill had becn 11&
around inviting criticism, and one & ~
provisions was that the silver coin sh&uI1
consist Of dollar (of 3Si grains), ho|I
dollar, n quarter dollar and a dime, 1n1
that such silver coin should y q
legal tender In any ono payment o. -
sums not exceeding s.. That wa he
identical form in which that scctioo ~
pcared In the last bill, as Il came Iron
the House 10 the Senate. I16<
particular section appeared throuo1cG3
the whole history Of the bill bon
the beginning TO the end. The House I'D
insisted on reducing tho weight OF the n
YER dollar 10 1884 grains, or Just the cx1c@
equivalent Of two half dollars. thus rn<&-
ing the silver dollar practically minof n
subsidiary coin. 10 that, In tho oridu1I
bill, the old silver dollar had been drop,
and in lis place minor or subsidiary coIn
substituted. From that time las In ISL
until tho passage Of tho law Of fcbruafI.
1873, that provision had stood In the Ia;
had been printed over and over again u
both Houses. And yet members OF Coz
grcss had been quoted as saying that The
did not know what was In tho bill. II NO
whose fault was II? II was In Difference &
the wishes Of tho Pacific coast that d
3 mate had substituted for the subsidia1v
silver coin proposed by the House. -
trade dollar Of 40 grains, troy. And ~
In the matter. lie knew what NJ
proposition Of the House was 20 cou|1I1
the silver dollar into n minor coin; 40 -
did not believe In that lilo bclicv 4
better 20 have a coin according 30 ~ ~
slrcs Of the California people, that v0Ul1
become coin Of commerce. But (11|0
was one thing which he didnot see. n
did not sec into the future. He di1 ~
forcsco that tho silver dollar, which 4
then nj premium Of per cent. ovcf 60
gold dollar, would, within fifteen year -
worth 20 cents. II anybody had told