The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-05-14

future secretaries mi< ht consequently deera
It their duty to keep in circulasson the least
possible amount Of the proposed treAsurr
notes and thus the United States treasury
might IN effect become mere purchasing
agency for the East Insiia Company or for
syndicates Of Engiish merchants wanting
bullion cheap in order to make their pav-
nents to India Gold. by reason Of its
greater value. Notwithstanding eli the legis-
lstson IN its favor. could never become the
common money medium cf the world.
SILVER rs the money metal pess suited to
the mass OF the people. and 90 the varied
Character OF daily transactions. Ii there
were any conceivable necessity for the de-
raones;xation of either metal, WHY de-
monetixs that which promised greater
and more steady yield Ii was absolutely
vital 10 the welfare OF society that both
silver and gold should Be in fall and un-
limited use as money. and equally invested
with the power OF legal tender.
In conclusion be said: Il predict Mr..
President, that the restoration Of silver TO
IT'S birthright will mark an epoch in the
history OF this republic and viii place IN
circulation an amount OF money commcn-
surate with our increasing population. II
will give assurance to our languishing in
dustries that the volume of our circulating
medium Is not TO continue shrinking and
that the tendency Of prices shall no longer
Be downward. 1t will increase the wages
OF labor and protect the products OF labor.
II viii reduce the price OF bonds and other
forms OF securities: il viii tighten. but not
inequitably, the burden OF mortgages. it
viii increase largely. though not uniustiy.
the debt-paying and tax-paying power Of
the people. Ii will loosen the grip Of the
creditor from the neck of the debtor.
With the demonstration of silver money
will cease 10 be An object OF commerce and
viii again become its henefcent instru-
ment Activity will replace stagnaticn; !;
movement will suppiant inertia; courage
viii banish fears: confidence viii dispel
doubt; hope will supersede despair
Lifting up silver to its rightful
place by the side OF gold will
set In motion all the latent energies Of the
people. II viii banish involuntary idle
ness by putting every willing man TO work.
IL viii revive business and reassnre the
heart and hopes Of the masses. Capital.
no longer fearing fall in prices viii turn
into productive avenues. The boards Of
money lying idle in bank vaults will come
out to bless and enrich alike their owners
and the community at large. while mill
lions Of dollars now invested ct Low inter-
est in good securities will be more profit
ably invested in the busy fields OF industry.
where they will be utilized In the payment
of wages and the consequent dissemination
of comfort and happiness among the peo-
pie. And this II viii accomplish not for
the United States alone, but for all civil
ICED nations: for It Is not too much to say,
Mr.. President. that upon the consideration
OF this question depend consequences moro
momentous than upon that Of any other
question of politics within the memory Of
this generation. In a broader sense than
any other question attracting the general
attention Of mankind. it is . question Of
civilization. It embodies the hopes and
aspirations Of our race. Tho act Of con-
gress which shall happily solve il viii con-
stitute decree Of emancipation ~ vsr-
liable a. any that ever freed serfs from
thrald0m. but more universal in Its appii-
cation. IL will proclaim the freedom Of
the white race the world over. II viii lift
tho bowed head Of labor. f will inaugn-
rate The tfus renassaince ~ prosperity.
without which Industry, learning. science.
literature and art are but apples 81 6odom.~ =
In answer to . question Jones said that
II there was free coinage of silver he be-
Iieved in three days silver not used for
coinage would be worth $i.c5 an ounce.
and there it would remain. Jones today
had the same close attention OF the Senate
from both parties that he had yesterday.
At the close he Was warmly applauded.
Jones OF Arkansas next addressed the
Senate in criticism of the bill. He said the
bill as IL stood should never become Law,
but should Be amended by making IL pro-
vide at least for unlimited coinage Of silver
whenever the price reached . point at
which tie government ceased to be . pur-
chaser. This was an absolute necessity
unless the purpose was to destroy silver IS
money. Those who would vote for the
bin as IL stood certainly intended demone-
tisation OF silver and might as well avow
it. While striking fatal blow at the in
terests Of the great body OF the people.
they intended only to benefit the sellers OF
silver bullion by increasing its price. The
deliberate purpose to discredit sill
yer treasury notes by refusing to
make them legal tender suggested
iuftuCI tAC kCas puk fN'Sc h1u III view ny tAe
Republican party. He was in favor of the
issue Of certificates for coin and bullion.
and OF conferring upon them the quality of
legal tender as completely rs it was con-
ferred upon the coin which they repre-
sented There was no reason why these
certificates should be In any sense inferior
to any other form OF paper money. They
were the very best form of paper money.
because they were rendered doubly secure
by the pledged faith OF the government ard
by deposits Of coin for their redemption
Teller said that the senator from Arkan-
sas seemed to be iahoring under the i'm
preston that the pending bill was the re-
suit Of Republican caucus. The senator
was very much mistaken. There was no
caucus bill of any kind before the senate.
Jones replied that he had no doubt the
statement OF the senator from Colorado
was literally true. At the same time. II
the newspaper reports and common under
standing around the capitol we're entitled
to any consideration. and he was satisfied
they were. every Republican senator ex-
cent the senator from Colorado had agreed,
either in conference or caucus, 10 vote
for il.
szna,ors Ingalls,, Allison snd others-That II
not true.
Jonss-Then hope We win nnd large nam
her OF the senators on thai side sofxag against
IT,
Ailisnn-The bill now on eAlendsr. - far from
being the resnsf os Republican caneHs. il tha
result OF deliberations OF tie dnsnee esaa1stee,