New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-13
THE SILVER DEBATE REOPENED.
SENATOR JONES. OF NEVADA. MAKES A
SPEECH INTRODUCTORY OF HIS BILL
AN ABLE STATEMENT OF TIE POSITION OF THE
SILVER MEN-HoLDING THE ATTENTION OF
THE SENATE ~ A MARKED DEGEEH

THE SENATE ~ A MARKED DEGEEi~
b: TEiEGRAri ThIBrNl-i
Washington. May 1.-THE debate on the Jones
silver bill. prccipitated awhwardly and 80 dis
courteously upon the senate for few hours lat
Wednesday 10y Nr. Vest who proGtcd by the IN
| avoidable absence Of the Nevada senator to make
niue cheap political capital, was reopcned To-Day
with something like method and regularity. rs the
author OF the measure and the senator delegated b.
the Finance Committee TO take charge of the mh
on the floor of the senate, Mr. Jones naturally felt
called on to make elaborate introductory speech
setting forth the conditions to meet which the bl
had been drawn. and the ad vanaecs to be derived
nom IL in the present monetary condition "i lho
country. ordinary poltcuc>s would have deferred
last wcch's premature discussion until after senator
Jones had had the opportunity To present his views
But II may be fairly said that the uH,ecmly Intrusion
o last Wednesdays rambling debate did little To maj
the effectiveness OF the Nevada majors address To-
day. detract from the interest that always al
taches 10 the first speech on an important question
In either the Senate the House Of Representatives,
Mr. Jones had from the the attention of tho
senate in marked degree: and, though he spoke
the whole afternoon. the clrster o. auditors about
his desk always unbrOkcn. Many ol the Demo"
Gratis came the aisle TO hear more readily
and absorbed In the propositions about the rela
ton of the present volume OF currency To the grown
and needs Of the country which the Nevada states
laid with much literary and oratorcal Skill
senator Jones + smooth and fluent talkcr. Win an
engaging and peacant siSle OF spcech'
and l. plain 10 the looSer,on that what he SAID
having Immediate and forciblc effect upon MS
fellow senators, The manuscript upon his desk.
when lie began looked almost foot thick and the
prospect Of a dull afternoon seemed threatening
Bu, the orators manner Of reading. and the enter
tanning style which tho subject matter was treated
easily carried the listener over many stretches of
-ffi,v, ..tc.f doduc In
JoneSs Chief point that the increase o. volume
OF money in the United states had not kept pace with
the growth Of the country for the last fifteen years
that II was not equal 10 the needs oi business
and production. and that it never would be II t'o
present gold standard should be maintained by 'lo
Government A. abe and thorough S;a'"hlch'
Of the argument on the silver side Of the monetary
question the sp.cch will probably TAX" rank ~ among
the best delivered in recent years either IN or out "'
Congress.
Mr. Jones was not able 10 finish his speech before
adjournment and will continue on II for an hour "r
two 10 morrow. The length Of the general debate on
the bin will depend greatly on The success or fail'
urc 81 tie Republican senators % get together
satisfactorily Cu The silver question.
Mr. Jones spoke 81 the general unrest prevailing
throughout tho country. The prices 81 III mmod',.
he said. had fallen. and continued 10 fall Snch a
phenomenon a. a constitutional and progressive fall
in The general range 81 prices had always exercised
40 balcnI an influence on the prosperity OF mdnAnh
that II never failed to excite attention. When fall
~ prices wa found operating Oh the products "i All
industries, when j, was found not to BE confined to
.v onn cline country race. but 90 lc druScd over
the civilized world found not to 10 characteristic
Of any one year. bat to 90 On Tor series Of feaT-t
became manifest that il could not axis" from local.
temporary or subordinate causes hut that must have
H. rcu,,i, and Development IN some principle OF
universal application. What was IT, be a,hri. that
d.t Inc Of frI
II va, ,hrnlngc in the volume Of money. relatively
10 the population and bu,nc.,. The world had never
had a proper IS item 81 money. Prosperity and sp"u
l,tou had been stimulated a. time. hy great Yields
from mine, an when those mine, were worked
ont then came revision and adversely.
He went ON 10 speak Of the natural ratio between
gold and silver existing for 800 or 5000 ycar,-I
ratio ~ 1911. 10 I-.uid said M lf oui, since
the legislative prescription 81 silver 10 German, and
the United state. and IT. baui-hmcn' from the minis
OF EUROPE that any material change ln that ratio had
taken place and that Tie present divergence ~ the
relative value of tue metals was directly due 20
the legal ou'awry Of silver. and not 10 any natural
causes. It had Away been the object Of tie creditor
elias, 20 enhance the value OF money by reducing it,
volume, that. when the gold mines oi California
and Australia producing the largest y.od' % VA
proposed 10 dcmonctilc gold.
Mr.. Jone. quoted the French publicist Cheva"r a.
advocating ~" dIscsfdius OF that metal which gave
the greatest Mundane. and quoted another French /
man. Bonnet. a. saying that the world saturated
with The precious metals. and that u there va avs
danger against which 1t was necessary 90 guard. 81 +
was that saturaton. The motive of dcmoncti4ation .
In the case OF silver well a. Of gold. wt VI. Jones
said. aggrandlc the creditor class of the world. and
10 oon1scac. far practicable. the reward, II |
hardy toilcrs. lie spoke OF the decentralization of |
~ liver by Germany. after her War with France.
having inflicted greater evil, on her people than her
arn,ice had inflicted France: and aid that when
IT began u have It's effect vcrtable hcsr Of the
German population began t. take place.
II surprise wa felt At the ,clnshnr,, 81 she priyi
Icscd classc, in Europe in demonci1lng silver what.
10 asked was 10 Do aid IN defence 81 the United
-tatcs in dcmonctizlng silver 40 such stupcndou,
act Of ioly and injustice bad ever been perpctftcd
by the representative, u free people. The United
state. not creditor nation. IT. people did not
own thousands 81 millions III fore boud-, 80 That
hey wOuld receive their interest In appreciated money
Instead Of that Generalization helping t. roh ih"
rcdit)r foreigners. u helped them 10 dc,pph the
icbtors in America. IN vicv Of all the circumstance.
o. view 81 the hcr,ulca dHcultic, VITA which The
Iation surrounded 90 1-s3 the dcmonctizaiiol ~
Iycr by the Cnitcd states had To bc regarded one
# those historical bluudcr, that were worse than
gimc,. II was the child of Ignorance and avaricc.
nd IT had proved the prolific parent of enforced die
less. poverty and misery. ~ better remedy could
pc applied than the absolute rcycisou II that lcgsa
lon and putting back the monetary system Of the
country t. what IT before I-5:
All m" nation. 81 the earth had used silver n
money MP to I-to. Nhcn Grc.i; Britain sundcr-d the
liver Ink that bound her 10 other nations doing -
Tor reason, OF her own. arising from her position a
Icditor Of al! nations, but the indu,irF Of the
EnSl., nation became concealed by rca-on o. That
'OutIa on Of the currency within seven years
hereafter the number Of her land oWAeis had been
cduccd. BY reason OF forced saI >. from 10000
q $4,000. and ono out Of every seven Of her popula
ion had had live wholly In par on thc bounty
4 organized charity. That had BIC par. Of the
rice imposed up'n the Ens,h people by the creditor
las
In the course Of his speech Mr. Jonc, toll story
4 gold and silver clock. the moral Of thc story
icing that the gold standard men y r>-tcd IN a.
oiring that The law which made gold IN
Manageable standard Of measure more nmutablc
han that which held the stIrs in their cour'r>. II
hey would comrarc gold ana silver VITA modlti"7