The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1890-07-19
II 1T a FRAUD:


publican papers because the Demo
Gratis, both in the senate and house
voted against the adoption Of the con
ference report on the silver bill. The
claim is that, except free coinage, II
is all that the silver men asked for.
1t provides for the monthly purchase
OF $500, 900 worth Of silver and for
the issue thereon OF that amount Of
silver certificates, to be a legal tender
and redeemable in coin. What more,
short of free coinage, did the silver
men want?
But the head and front" Of this
conference committee was John Sher-
man, a Wall street banker as well as
senator from Ohio, the author OF the
demonetization trick Of 1873, and the
fast friend Of the Window scheme
that involved the RECOMMENDATION
Of silver. Though covered over with
many spccious and delusve phrases,
has not John Sherman succeeded in
ioisting upon the country another
trick by which silver is demOnetized?
That is the solemn conviction Of the
Democratic members Of the senate
and house upon "A critical eXamina-
ton Of this cunning conference-com-
mittee contriyance Of John Sherman.
The first suspicious circumstance is
the omission Of the clause that when
ever silver rises to par with gold
there shall be free coinage. The second
is that the whole management Of the
silver business under this patched-up
law everything is left to thediscretiOn
Of the secretary Of the treasury, an
official who, for twenty-five years, has
uniformly been "A representative or
Wall street and an enemy of silver.
Mr.. Voorhees, said, in the practice OF
his profession for twenty-five years, he
had always dreaded packed jury
The fate Of silver was turned over TO
the tender mercies Of packed jury Of
its enemies. The secretary, after one
year, can stop the entire coinage of
silver, in his discretion: he can redeem
and reissue the certificates largely in
his discretion; and he is left with I'M
limited power to manipulate the price
Of silver in his own interest and that
of Wall street But the wickedeSt
fraud of all is the redemption clause.
1t reads:
"UpOn the demand Of the holder Of
any Of the treasury notes herein pro-
vidcd for, the secretary Of the treasury
shall, under such regulations as he
may prescribe, redeem such notes in
gold or silver coin, at his discretion,
it being the established policy of the
United States to maintain the two
metals on a parity with each other
upon the present legal ratio, or such
ratio as may be provided by law"
What was the sense Of injecting this
little stump speech involved in this
latter clause into the body of the bill?
or course it is the established policy
of the Y. S." to bring the two metals
on parity. But it has a dark, hidden
meaning, positively devilish in its
cunning. "Under this provision
says the New York Tribune, inter
preting it by authority as well Of John
Sherman as Wall street, "the secre-
tary has no power to redeem in silver
coin while silver is not, in market
value of bullion it contains, on a
parity with gold. Only when silver
reaches par can he redeem in silver
coin. Otherwise he must redeem in
gold"
1t was herein that Senators Vest,
Cockrel and Voorhees,, maintained
the bill displayed its ugliest features
of cheat and a fraud; for under its
malgn influence silver, instead Of
being more potent as factor in the
prosperity Of the people of the United
States, will shrink back and take its
place as miserable commodity, in
stead of being clothed with the dig
nifty Of money" In other words, eX-
cept as to the dollars now coined, it is
again dcmonetized,
Instead OF an advance on the silver
question, the bill means retrogresSiOn;
instead Of a measure in the interest Of
the people, it is in the interest Of
Wall street; instead Of IA compliance
with popular demand, without re-
gard to party, as shown by the seven
teen majority in favor of free coinage
in strongly Republican senate, it is
made a party and an administration
measure to secure the support Of the
money power to the detriment of the
masses.