The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-14
SILVER And TARIFF.
Senator Jones, of Nevada, Fin.
ishes His Great Speech.
CONGRESSMAN BUTTERwORTH
Makes Some Very Frank Admissions in Re
gard to Protection, and Receives Hearty
Applause from the Democrats.

quay from the business men of Philadel-
phla, demonstrating against an increase of
the duty on dry goods made wholly Oh
partly from WOOL
The committee on pensions reported bacl,
the House substitute for the Senate de-
pendent pension bill and moved that it be
concurred In. Agreed to. The Senate
tnen resumed consideration of the silver
DILL Jones, of Nevada, continued his
speech begun yesterday.
Senator Jones objected to the idea of
treasury notes in bullion on the ground
mat when they were so redeemed the mon
etary circulation would be con tracted and
putting the bullion on the market would
not make up to the country for the lose of
money from circulation. He expressed
entire confidence in the honesty of purpose
ana consclenclousneSS of motive of the
| present secretary of the treasury, but said
as none Of the secretaries for twelve wears
past had coined dollar of silver more than
compelled by law to do, future secretaries
might conscienciously deem it their duty
10 keep In circulation the least possible
amount OF proposed treasury notes and
thus the United States treasury
might in effort become a mere
purchasing agent for the East India com
pany or for syndicate of English mer-
chants wanting bullion cheap in order to
make their payments to India. Gold. by
reason OF its greater value, notwithstand
Ing all the legislation in it's favor. could
never become the common money medium
OF the world. Silver is the money metal
pest suited to the mass of the people. and
to the variety and Character of the tran
saction constituting the interchanges of
tner daily life. Were there any conceiv
able necessity for the demonstration of
either metal, why demonetize that which
promised the greater and more steady
yield 1t was absolutely essential to the
welfare OF society that both silver and gold
should be in full and unlimited use as
money and equally invested with the
power OF legal tender. In conclusion
ne SAID: y! predict, Mr.. President, that
tne restoration of silver to its birthrleht
will mark an epoch in the history of this
republic. 1t will place in circulation an
amount OF money commensurate with onr
increasing population; it will give as
surance to our lanquishing Industries that
the volume of our circulating medium is
not to continuing shrinking, and that the
tendency of the price should no longer he
downward. l. will increase the wages of
the laDorer and the prices of the products
OF labors; it will reduce the price of bonds
and other forms of money securities: it
WILL tighten but not inequitably the burden
OF mortgages; it will increase lengthy
tnough not un1ustly taxpaying power of the
people; 1t will loosen the grasp of creditor
from the neck of the debtor
BY the RECOMMENDATION of silver. money
Will cease to be an object of commerce. and
Will again become its benefcent instru
menu. ACTIVITY will replace stagnation;
movement will supplant inertia: COURAGE
will Danish fear, confidence will dispeI
doubt; hope will supersede despair. The
hitting up OF silver to it's rightful place nv
the side of gold will set in motion all the
latent energies of the people. II will
Danish involuntary idleness bv nntting
every willing man to work; it will revive
busln ess and reanimate the heart and hone
OF the masses. Capital, no longer fearing
1alllng prices, VIII turn into productive
avenues. The boards of money idle in
bank vaults will come out to
bless and enrich alike their owners
and the community at large. while
millions of dollars now involved at
low interest in gilt edge securities will
seek more profitable investment in the
field OF industry, where they will be util-
lied in the payment of wages and a conse-
quent dissemination of comfort and hani-
ness among the people, and this it will ac
compllsh not for the United States alone
but for civilization, for it is not too mnch
to say, MIR. President, that upon the
decision OF this question depend conse-
quenees more momeDtuOus than upon that
OF any other question of public policy
within the memory of this generation. In
broader sense than any other
question it is attracting the gen
eral attention of mankind. 1t is
question OF civilization. 1t embodies
the hopes and aspirations of our race. The
act of Congress which shall happily solve it
will constitute decree of emancipation as
veritable as any that ever freed the serf
from thraldom, but more universal in its
application. 1t will proclaim the freedom
OF the white race the world over: it will
lift the bowed head of labor and will hush
the threnody of toll; it will inaugurate the
renaissance OF prosperity, besides which
industry, learning, science, literature and
art are but as the apples of Sodom''
In answer to questions Jones said if there
was free coinage of silver, he believed in
three days silver not used for COINAGE
would be worth S1.25 an ounce and there II
would remain.
Jones today had the same close attention
from the Senate from both parties. that he
had yesterday. AT the close of his sneecb
he was warmly applauded.
Jones, OF Arkansas, next addressed the
Senate In criticism of the bill. He said the
bill as it stood should never become law
but should be amended by making il nro. |
vide at least for the unlimited coinage of |
silver whenever the price reached a point |
at which the government ceased to he a
purchaser. This was an absolute necessity
unless the purpose was to DESTROY silver
as money. Those VINO would vote for the |
bill as it stood surely intended the demon
OF silver, and might as well |
avow It, While striking a fatal
body of the people, they intended
only to benefit the sellers of silver
bullion by increasing its price. The delhi. |
crate purpose to discredit silver treasury
notes by refusing to make them legal tender
suggested further the real purpose had in |
view by the Republican party. He was in |
favor of the issue of certificates for coin |
and bullion and of comforting upon them !
the qualities of legal tender as broadly and |
completely as 1t was conferred upon the |
coins which they represent. There was M
reason why those certificates should he in
any sense inferior to any other form of |
paper money. They were the very best |
forms of paper money, because they were [
rendered doubly secure by the pledged
faith of the government and by the deposit
If coin devoted to their redemption.
Teller said the Senator from Arkansas
seemed to be laboring under the impres-
'ion that the impending bill was the re-
suit OF Republican caucus The Senator
vas very much mistaken. There was M
caucus bill of any kind before the Senate.
Jones replied he had no doubt the state
nent OF the Senator from Colorado was
literally true. At the same time if news
PAPER reports and common understanding
around the capitol were entitled any con-
lderation, and he was satisfied they were
very Republican Senator, except the
Senator from Colorado had agreed, either
n conference or caucus, to vote for it.
Senators ingalls,, Allison and others
That is not true