The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-05-14
The Senator From Nevada Again Takes
tho Floor.
Good Arguments In Favor Of the
Pending Bill = Senators Who
Want Free and Unlimited
Coinage.

make up to the country FOR the loss OF
money from circulation. He expressed
entire confidence I'm the honesty of pur-
pose and dconscientioiisness of the motive
of the present secretary OF the treasury,
but said as none of the secretaries for II
years past had coined dollar of silver
more than compelled by law to do. future
secretaries might concientiously deem IL
their duty to keep in circulation the least
possible amount of proposed treasury
notes and thus the United States treas
ury might in effect become a mere
purchasing agent for the East India COM
pany or for a syndicate of English mcr-
chants wanting bullion cheap in order to
make their payments to India. Gold, by
reason of its greater value, notwithstand-
ing all the legislation I'm its favor, could
never become the common money medium
of the world. Silver is money-the metal
best suited to the mass of the people, and
SO the variety OF character OF the transac-
tions constituting interchanges OF daily
sity for decentralization of either metal,
why demonetize that which promised the
greater and more steady yield? II was
absolutely vital to the welfare of society
that both silver and gold should have
been In full and unlimited use as
the power of legal tender. In con-
clusion he said: predict, Mr.. President,
that the restoration of silver to its birth
right will mark an epoch i'm the history of
this republic; IL will place I'm circulation
an amount of money commensurate with
our increasing population, i will give as.
surance to our languishing industries that
the volume of our circulation medium Is
not to continue shrinking and that the
tendency of prices shall no longer be
downward. 1t will increase the wages OF
labor and the prices of the products OF
labor, il will reduce the price OF bonds
and other forms of money securities, 1t
will tighten, but not inequitably. the
burden of mortgages; IL will increase
lightly, though not unjustly, the depart
ment paying and tax paying power of the
people. 1t will loosen the grasp OF the
creditor from the neck of the debtor.
The remonetzation OF silver will cease
to be the object OF commerce and will
again become its benificent instrument;
activity will again replace stagnation;
movement will supplant inertia; courage
will Danish fear; confidence will dispel
doubt; hope will supercede despair. The
lifting up of silver to its rightfui place by
the side of gold will set i'm motion all the
latent energies of the people. 1t will
Danish involuntary idlcness by putting
every willing man to work; il will revive
business and reanimate the heart and
hope of the masses. Capital no longer
fearing a fall i'm prices will turn into
productive avenues. The boards of
money lying idle in bark vaults
will come out Ia bless and
enrich alike their owners and the COM
munity mt large, while millions of dollars
now invested ut low interest in gilt
edged securities, will seek more profita-
BILE investment i'm the busy field of indus
try where they will be utilized in the pay
ment of wages and consequent dissemin-
alton of comfort and happiness among
the people. and this il will accomplish not
| for the United States alone, but for civili-
| ization, for il Il Is not too much to say.Mr.
| President, that upon the decision of this
question depend consequences more mo-
mento,is than upon that of any other
question of public policy within the men,
ory of this generation, in a broader sense
| than any other question. Attracting the
general attention of mankind IL is a
| question of civilization. II cmbodies the
| hopes and aspirations of our own race. The
act of congress which shall happily solve
| IL will constitute a decree of emancipation
/ as veritable as any that ever freed the
serf from thraltlom, but more universal
in its application, II will proclaim the
freedom OF the white race the world over
il will lift the bowed head of labor and will
hush the threnody Of toll, il will inaugu
| rate true renaissance, renaissance oi
prosperity without which industry. learn
ing, science, literature and art are but tho
| apples of Sodom.
L
there was free coinage Of silver he be
lieved that i'm three days silver not used
| for coinage would he worth sl.25 an
ounce and there IL would remain. Jones
to-day had the same close attention from
the senate from both parties that he had
yesterday. AT the close of his speech he
was warmly applauded.
Jones, OF Arkansas, next addressed the
| senate I'm criticism of the bill. He said
the bill as il stood should never become a
law. but should he amended by making il
provide at least for unlimited coinage oi
silver whenever the price reached point
| nj which the government ceased to be q
purchaser. This was an absolute neces
| sity unless the purpose was to destroy
silver as money. Those who would vote
| for the bill as il stood certainly intended
TO decentralization silver and might ms
| well avow IL. While striking fatal
blow at the interest OF n grea'
body of people, they intended only tc
| benefit the sellers of silver bullion 10y In
creasing its price. The deliberate pur
pose To discrcdit silver treasury notes b,
refusing TO make them legal tender sug
gested further the real purpose had u
view by the republican party. He was II
favor of the issue of certificates for coli
and bullion and of comforting upon then
the qualities of legal tender as broadl,
and completely as II was conferred upor
the coins which they represented. Their
was no reason why those certihcatei
should be in any sense inferior to an!
other form of paper money. They wcr'
the very hest form Of paper money, be
cause they were rendered doubly secur
by the pledged faith of the governmen
and by the deposit Of coin d. vo.ed TO thei
redemption.
Teller said the senator from Arkansa,
seemed to he laboring under the impress
sion that the pending bill was the resul
Of the republican caucus. The senate
was very much mistaken. There was n'
caucus bill Of any kind before senate
Jones replied that he had no Coubt tn
statement of the senator from Colorado
newspaper reports and common under