Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1889-07-13


Hon. Tom Fitch delivered the Fourth
Of July GRAFTON in Virginia City, devot-
ing q large share Of his remarks TO the
silver question. Among other things he
said:
Oar Senator, Mr.. Stewart, always wise
in counsel, always wstchful OF Nevads's
interests, and always eager to quarrel
for her right, suggests in one OF his in
comparable and un~snswerable speeches
that the silver money Of Europe already
coined, circulstes at home upon q basis
of l55 ounces Of silver to one ounce OF
cold, and that If free and Unlimited coin
age be re.estsblished upon q basis OF six.
teen to one, then the importer Of foreign
silver coin would need to add half an
ounce Of silver. or about three per cent
10 each l5t ounces Of foreign silver coin.
before he could receive his ounce OF gold
back again. IL need not be suggested
that no banker in Europe or Americs
would be likely TO thus outrage the pri-
mary principle Of discount and exchanges.
Here is quite a coincidence. Tbs idea
contained in the above. for which Sens-
tor Stewart is given credit, was quite as
we'll expressed by this writer in a speech
in Congress delivered in April. 1854.
senator Stewart is too much Of q man to
claim the idea to be original with him.
self. He got it from our speech, and we
are very glad be used it, because 1t is one
of the strongest points in behalf OF the
complete restoration of silver to its old
place. Ia Csssidy's speech in the House
of Representatives this language occurs:
Gan talk and buster about European
silver finding ITS way hither Is the su-
premest nonsense, and | am astonished
thatany man Of o~rdinary-the most ordin.
ary intelligence should seriously ad.
vance snch an argument. All European
ooins are debased; they are not equal to
ours either 10 weight or tineness. There Is
also A marked difference IN the ratio.
The ratio everywhere in the old country
il as l5k to |, while ours is l6 to /. AT
home they circulate at par with gold.
while here they would rank below our
standard silver. No foreign coin can
come here and enter the field side by side
With our silver without sustaining a loss
of from 8 TO 4 per cent in depreciation,
20 say nothing of the coss OF exchange
and. transportation. This is enough to
keen them out for all time. A very mod
crate tariff would successfully exclude
foreign silver bullion if there was any
6isnas;tiop for il TO flow this way. which
there is not. Less duty would protect
us from any real or imaginary danger
from this cause than is imposed for the
benefit Of pig iron."
And much more on the same line, but
the above is sufficient to show where
Senator Stewart got his idea. And the
Senate aud Fitch and all the rest are in
the habit OF using another argument hrst
put forth by US, namely, that England
is interested in keeping down silveS to
the end that she may buy her bread
stuffs aud cotton from India with depre-
ciated silver. A cheap silver dollar will
buy as much wheat or cotton in India as
q gold dollar. 1t follows that at the
present price Of silver England is saw
ing about 25 per cent in the purchase
OF these great staples. besides cheating
us out of a market for our surplus
products. No silver speech delivered
these days is complete without thu
above argument, but no man ever stops
to give credit for it. That idea nsvei
under the sun saw the light Of day
until we launched 10. We do not OBJ
iect to it's use in the silver cause, but
we do object to another receiving the
credit for it's conception. Senator
Stewart is q very good and useful and
industrious Senator, as we have often
admitted in these columns, but hi'
~enlogists will make q grave mistake il
they endeavor to establish for him q
reputation as an original thinker. The
highest just praise that can be given
him is to say that he is vigilant in re-
search and strong in compilation. There
is no lack of parallels in other than the
subject Of silver to demonstrate this
estimate should occasion require. But
we repeat that we are making no fuss
about tribes. We feel rather hattered
than otherwise to be able to furnish
brains for statesmen. We simply object
to anybody relocating our claim aud
holding it by right of discovery.