Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-02-11
ruE AMENDMENT
intended "a be Proposed By soma
tor stewart Of Nevada.

UNITED States SENATE,
WASHINGTON, u. c., Jan. %, 1888.
EpIroR EUREKA SENrISEI-Dear Sir:
Referring TO your editorial in the SSNTI-
xRL Of the 21st instant on my silver
amendment, and its endorsement OF the
remarks Of the Call, there seems to be q
total misapprehension Of the amendment
proposed by me. Enclosed find a copy
Of it as now perfected after consultation
with friends of silver, and which will be
proposed in the Senate when Mr.. Sher-
mans bill in aid Of the National Banks
is under consideration.
My amendment would allow bullion
producers to present either silver or gold
bullion at any mint or assay office in the
United States, and receive in exchange
legal tender coin certificates at the rate OF
one dollar for % $40 grains Of gold, $40
fine, or silver at its market price in New
| York; and it further provides that the
1 United States shall assay the bullion with
/ out cost. Under this amendment the
| United States would pay as much as any
body else, and assay and determine the
| value of the bullion free Of charge, whereas
| other purchasers would deduct the cost of
| a~ssaying. Is it not probable that an I'M
| limited market for silver, provided by the
| amendment, at a slight advance above
| what others would pay, would put silver
| on a par with gold in a very short time !
| Mr.. Shsrman's bill provides that a privi-
| legged class who deposit bonds for safe
| keeping with the Government, for which
| the Government makes no charge, but
---a-- stawaat Anah
| bonds, may receive instead Of 30 per
sent, as now provided by law, 100
per cent in currency to loan to the
public at any rate Of interest they can
| obtain. My amendment simply allows tbs
miner to receive certificates, which are
money, for his bullion at the market price,
without the cost of assaying. IL this is re-
fused, it will clearly show that Mr.. Sher-
msn and the majority of the Finance
| Committee, which he undoubtedly repre-
sents, will favor bondholders without re-
gard to the interests of any other part OF
the community.
In my opinion, my amendment is in the
best shape to either secure success, or
make manifest the wickedDess Of the
bondholders' oligsrchy.
A moments reflection will convince you
that an unlimited market in the United
States for silver at every mint aud assay
Office, without the expense Of either trans
portation or assaying, at the average price
which spectators will pay in New York
after the expenses of such transportation
and a~ssaying have been incurred, will put
silver to par with gold with no unreason-
able delay. Would not such a result
please your
II you can get Mr.. Sherman to support
my amendment / will guarantee that silver
will be at par in less than six months. III
I had fixed the price at 16 ounces of silver
to / Of gold, the organs of the bondhold-
holders would have said that l was trying
TO rob the United States. and excused
their friends in the Senate in voting against
the proposition; but when the question is
between issuing certificates on gold and
silver bullion at their acknowledged value
without cost to the Government, and the
issuance Of National Bank currency to a
favored class, who not only receive the
currency but interest on the bends depos-
tied therefor, and the return of the bonds
at any time when they have become too
rich to make this enormous subsidy an in
ducement TO continue in business, 1t may
embarrass the genius of avarice TO give a
plausible explanation.
The bendholders' fire in front is hot
enough; please do not fire from behind I'M
til you lave fully considered the matter.
Yourstruly, WIN. M. STEWART.