New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-20
TILE ,SILTER BILLS.

Senator Jones cast food of light, possibly
4 little too brilliant for ordinary eyesight upon
the plans of the silver men in one respect
Out of every hundred supporters OF Silver
bin ninety or more may be safely counted as
men who honestly believe that silver and gold
ought both to be employed as money, and who
would shrink from any step calculated to drive
gold ont of use or ont of the country. But
there arc some advocates of silver coinage who
want silver forced into use as the money OF
account, the money of chief employment, and
the money in which all debts shall he paid
and these are prepared to welcome the de-
parture of gold if that metal cannot be retained
except by keeping it as the controlling meas
ure of values. What has Senator Jones TO say
regarding this fear lest gold should leave the
country by reason Of restoring to silver its full
monetary power''? lie answers in his recent
speech:
such would not he the For every gold dollar
that left there would be silver dollar in circulation
H. however, gold was to be kept here only on CON
dition that equality and justice should be destroyed
who doubted that 10 should 60
Equality and justice in the dialect Whi'h
the Senator uses. appear to mean that SILVER
must he coined without limit and legal tehder
without limit, on exactly the same terms win
gold because il occupied that position twenty
wears ago Debts were created when SILVER
could be freely coined by any holder there
fore, equality and justice demand that the
same situation shall exist when debts are paid
If gold cannot stay in the country under such
circumstances. then it " should 60"
The men who want silver made the paying
tool wouId have no such wish whatever II they
supposed that gold and silver dollars would IN
that event have equal value in the market OF
require equal quantities of labor or products 10
obtain them Because they think the silver doi-
lar would then be the easier 10 get. the cheap
or and procurabe with less labor or products
they want 70 pay debts with II. \ ct the dcbl> "i
twenty wears ago were in fact created when
cold was the only money measure. ana SILVER
had not for many years been used for com be-
cause worth more to sell as bullion than TO
coin into dollars. Debts measured III goa
when created certain people now want to pay
in silver. because they think that metal would
be cheaper
"For every gold dollar that left there wond
he q silver dollar in circulation" says Mr..
Jones, but his statement appears TO be not
merely unsupported but contrary 10 such facts
as are known. All know that laborcd efforts
have been made for years to push silver dol
lars into circulation. But beyond about sixty
millions. the large white dollars would not stay
in use. and paper has been taken in their stead.
II four hundred or five hundred millions in gold
coin should 90, more paper might take us
rlace. but silver dofla certainly would not.
senator Jones is far TOO well Informed on
monetary questions not to know that the paper
could then be redccmable in silver only, and
that the gold remaining would command a
high premium. If he is Of those who are
anxious to bring about another era of swindng
and deprecated currency and crazy gambling
his arguments can be appreciated But If he
is not. what reason can he give for refusal 10
have the paper redcemable in silver bullion of
the exact value expressed in notes?