Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1890-06-22

to each other as any two things that
can be imagined.
But to secur to this provision. Inc
avowed purpose of the bill is to restore
silver to par The direct tendency OF
this clause is the other way. Inc
very act of Withdrawing bullion, as
here provided, would have the effect
of depreciating its value.
The Secretary of the Treasury HIM
self admits that such would be the
effect. but he says that he thinks very \
little would be withdrawn; that is 10
say, the provision is good one, II 1t
be not acted upon, but the instant Its
machinery is set in motion 1t wldens
the gap between gold aud silver, ana
the fundamental purpose OF the entire
plan fails. BUT it is asked, "W hat OBJ
lect is there in any man withdrawing
pullion?u A sufficient answer Is,
that if there is no object in withdraw
ing bullion there is certainly no object
in having the provision there
But it is well for gentlemen to bear
in mind that when this bill was origin
ally framed it contained provision
allowing the Government to redeem
the certificate in gold, Tor the sole pur-
pose OF preventing the Withdrawal OF
bullion in a spirit of speculauon---a
distinct reorganization of the possiolity
of such speculation under this provis
ion 1t may be that this danger Is re-
mote and exaggerated, but II is GER
tainly within the range OF posslplity
and even of reasonable probability !;
and unless it can subserve some Sood
purpose which will more than COM
pensate for this danger, it ought to be
stricken out. That good purpose has
never been shown i'll manner that
in the slightest degree addresses ltself
to my intelligence.
The objection to this provision is not
one of mere sentiment-it Is one OF
principle Every rock rooted advocate
of the gold standard is in favor OF II;
every bimetallist is opposed to it.
Every argument in its support, by
whomsoever made, is based upon the
theory that the gold standard must be
maintained at all hazards. 1t is SAID
that as long as the holder of these
notes can 60 to the Treasury and get
their gold value in silver bullion, we
have a safe and reliable currency bas-
ed upon gold.
Grant II, py way of argument. Now
suppose it be acted upon. In season
Of panic, bullion is Withdrawn In large
Quantities. Down goes the price
f,ulllon being cheaper. more ana more
r neople will want It thinking 1t VII
, ralIy again, ana they Will protlt there
Inv Eyey ounce of bullion thus with
ira,yn 1rom Ine treasury forces ths
nrice still lower, and that prevlousl,
, wirhdrawn loses its equivalent VIII
, the notes for which it was exchanged
a What becomes OF this boosted s1cur
ity? r.,
I But let us go step farther. Final
: lv the bullion is all wlthdrawn. am
= tnere are still large amounts OF note
r outstanding. W nat then! Nothihs
> nut coin redemption remains, and
& the mean time the value OF silver ha
a fallen. the Lord only knows how low
; More notes are presented, and IN
. holders decline to accept silver dollars
;. What sort of a monetary situation
n have we then? The gold stanaar'
: has been upheld but what has becom
!. of silver Discredited, disparaged
/ disgracea, its complete restoration III
!. dehnltel, postponed; 1t has peen mao
Il a monetary outcast. This is an eS
;, treme case which have supposed, ou
n ,s one OF the possibilities PRESENTS
bv this bill. and the logical deductio
s py which the result is reached is
= perfect as reasoning can be made.
1t is argued very adroitly that GU
;, objection to having silver treated as
- commodity is untenable. because DOT
10 gold and silver are commooities nov
:: true, they are commodities put vi
i like other commodities, they are er
dowed with monetary functions
- silver partially, and gold completei,
~ What we object to is the denial {
: privileges to silver that are accorae
10 TO GOLD. 1t not a sentimental obJet
tiun. but a most substantial one, ma
= eriaily affecting the relative values {
y the two metals. If you will give TO y
tree coinage you may denolnlnate 81
;, yer a mere commodity to your heart
d content without wounding our sens
: .,i,it;cs in the least.
,.:t this clause is lnteneu 10 mai
N s.n tie gold standard is fully show
= by the report to the Secretary OF II
= treasury, with whom the plan Origin
y ated. On page so he adverts to u
=. fact that we are upon a gold basis a.
~ soiutely, and states that the standai
= dollars is an ANOMALY, and not an e.
IN ception."
II !. On page 81 Speaking of this plal
"A he says:
-. ~ at it be objected to on the grour
:. that it will degrade silver from
80 position as money and reduce 1t to Il
~ level of mere commodity, the rep
- Is that silver bullion is now a me
~ commodity.
-, With ali deferenc to the Seereta
| feel like saying, that this is a vel
= unsatisfactory and irresponsible an
~ wer: because the fact that silver h
"a been reduced to the grade of a me
= commodity is the very gravamen
he our complaint.
We 1t is the identical thing which '
no are trying to change, and 1t mig