, 1890-05-15
MONDAY.
Tho silver Question Opened In tho
House.

House.
| WASHINGTON, May i2-.Mr. Hoar.
from the Judiciary committee, reported
bnck to the senate to-day the house
amendment on the antitrust bill with
amendments.
Messrs. Vest and Coke stated that rs
members OF the committee disscnted
from the report, the matter should 10
over until Tomorrow.
The senate bill appropriating 500, 900
for q public building at Ogden, Utah,
was reported and placed on the calen-
dar.
The senate then proceeded to consider
the action on the bill authorizing tho
issue of treasury notes on deposits of
silver bullion, and MIR. Jones ofNevada,
addressed tho senate in It's favor.
lie spoke OF the general unrest
prevailing throughout the country. The
prices OF all commodities, he said, had
inllen and had continued to fall. When
fall In prices was found operating on
tho productions Of all industries; when IL
was found not to be confined to any one
cline, country or race, but was diiiused
all over the civilized world when 1t was
found not to he Characteristic OF any one
year, but to 20 on for series of years,
IL became manifest that II could not rlse
from local. temporary or subordinate
causes, but must have genius and de-
velopment in some principle Of univer-
sal application. What was 1t
that produced general de-
cline in prices In ANY country
II was a shrinkage in the volume Of
money relative to the population and
business. The World never had proper
system OF money. Prosperity aud
speculation were stim ulatel at times by
great yields from the mines, and when
these mines were worked out there came
II revulsion and adversely.
He went on to speak of the natural
ratio between gold and silver existing
for $500 or 5000 years--a ratio of l5H
to land said that it was only since the
legislative prescription Of silver in Ger
many and tho United States, and its
banishmeDl from the mlnts OF
Europe, that any material change
OF that ratio took place, and that
the present divergence in the relative
value of the two metals was directly due
to the legal outlawry of silver and not
to any natural causes. 1t always had
been the object OF the creditor class to
enhance the value of moncy by reducing
its volume, so when the gold mines OF
California and Australia were producing
their largest yields, IL was proposed 10
demonetize gold. The movement for
characterization inSthe case OF silver as
well rs gold was, Mr.. Jones said, to ag-
grandize the creditor class of the world
and contiscate the rewards of the hardy
toilers. lie spoke Of the demon !
etization OF silver by Germany
after the war with France as hay. |
ing implicated greater evils on
her people than her armies inflicted on
France, and said that when it began to |
have its effect a yeritRble hegira of the |
German population began to take place. |
If surprise was felt at the selhshncss |
of the privileged classes in Europe in 1
the demonstration of silver, what, he |
asked, was 10 be said in defense of the |
United states in demonetizing silver2 /
No such stupendous act of folly: and |
ignorance ever had been perpetrated by |
the representatives of free people. Il |
had proved prolific oi enforced idlencss,
poverty and misery. No better
remedy could be applied than
the absolute reversal OF that
and the putting back
Of the monetary system OF the country
~ Mntt u WAS DCIOTe 800.
All the civilized nations of the earth
used silver as money up 10 1919, when
Great Britain severed the silver link that
bound her to the other nations, doing
20 for reasons ot her own, arising from
her position Us creditor OF all the ma
lions; but the industry OF the English
nation became Congealed by reasons of
that condition OF the currency and
Within seven years thereafter the, num-
hs.r Ian. Lon
luced by reason of forced sales, and o
urge proportion of the population had to
i've wholly or In part Oh the
'ounty of organized charity. There
lad been o part OF the price imposed
ipon the English people by the cred
tor class.
In regard to the bill pending before
he senate Mr.. Jones said that he had
eported II from the committee on
nance, but II did not fully reflect his
Jews.
Regarding the relation which silver
hould bear to the monetary circulation
u the country or the world, he declared
iimself at all times and In all places a
Irm aud unwaverins advocate OF tho
rec and unlimited coinage Of silver.
n view, however, Of the great
hs'''aSb s aSbeS ct vSS' asS s''al5asi po..iD9S ON
hat by re.son OF such diversity this
ession OF congross might terminate
'ithout aflording the country any relief
rom the baneiul and bcnumbing effects
{ the demonstration OF silver, he had
olned with tho other members of tho
ommittec In reporting the bill. He
Ield himself free to ratify any amend
nent that might be offered which
night tend to make the bill n more
'erfect measure Of RELIEF, and that
would make II morc In con-
onance with his individual views.
Rasuming his argument, Mr. Jones
aid that the single gold standard mon
attempted to brush aside the equities In.
'o,ved by snccring At the debtors. Who
we're tho debtors In this country, he
lsked. They were the aspiring, the
lopcnl. the energetic, the audncious.
They were the upbuilders and the de-
'ipners. They were the constructive
orcc IN every community. As prob
ibiy nint-tenths of the business OF
America depended in one form
~ another on credit. that system
which maze tho dollars OF a debt more
'ainablc at the date Of It's payment than
u the date of the borrowing was u sys-
EN- OF robbery.
He warmly defended tho silver miners
rom the charge OF selfishnoss In dca,r.
ng the remonctization Of silver
At the suggestion Of Mr.. Teller. Mr..
Iones postponed finishing his speech
mil tomorrow. and tho senate
adjourned.
THE CLOSEST ATTENTION OWEN.