Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1890-05-22
JONES ON SILVER.

JONES ON SILVER.
Remonetization OF 6ilver-PolIey OF tho
Treasury Criticised.
WASHINGTON, May 14.-In continua-
ton of his remarks in the Senate yes
terday on the Silver bill, Senator
Jones, of Nevada, opposed the idea
of redeeming treasury notes in bull
lion on the ground that when they were
50 redeemed the monetary circulation
| would be contracted and the putting of
bullion on the market would not make
up to the country for the loss of money
from circulation. He expressed en-
tire confidence in, the honesty
of purpose and conscientiousness of
motive of the present Secretary of the
Treasury, but said that as none of the
Secretaries, for twelve years past, had
coined dollar of silver more than COM
PEELED by law to do. future Secretaries
might conscientiously deem it their
| duty to keep in circulation the least
possible amount Of the proposed treas
ury notes, and thus the United States
Treasury might, in effect become
| purchasing agent for the East India
merchants wanting bullion cheap in
order to make their payments to In
| dia. Gold, by reason of its greater
value, notwithstanding all the legis-
lation in its favor, could never be-
come the common money medium of the
world. A gold coin that would represent
an average days labor would be too
small for convenient handling. Silver
was the money metal best suited to the
mass of the people and to the variety
and character of transactions constitute
| ing the interchange of daily life. IT
there were any conceivable necessity
for the demonstration of either metal,
why, he asked, demonetize that which
promised the greater and more steady
yield? If for any reason society should
decide that one of them should be dis
carded, should it not rather be that one
which promised the smaller future yield
| than that which promised the larger?
1t was absolutely vital 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, Mr.. Jones said: s'I p1 E.
dict, Mr.. President, that the restoration
of silver to it's birthright will mark an
epoch in the history of this Republic. 1t
will place in circulation an amount OF
money commensurate with our increas-
ing population. It will give assurance
to our languishing industries that tn }
volume of our circulating medium il
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; it will reduce the price OF
bonds and other forms of money futures;
it will tighten, but not inequitably, the
burden of mortgages; it will increase
largely, though not unjustly, the debt
paying and tax paying power of the
people. It will loosen the grasp OF the
creditor from the neck of the debtor.
By the RECOMMENDATION of silver, money
will cease to be the object of commerce
and will again become its beneficent in.
strument. Activity will replace stagna.
ton; movement will supplant inertia
courage will Danish fear; confidence
will dispel doubt; hope will supersede
despair. The lifting up of silver
to its rightful place by the side
of gold will set in motion all the
latent energies of the people. 1t will
Danish involuntary idleness by putting
every willing man to work. 1t will re-
vive business and reanimate the hear
and hope of the masses. Capital, nc
longer fearing fall in prices, will turr
into productive avenues. The boards O.
money lying idle in the money vault!
will come out to bless and enrich alike
, their owners and the community a
large; while the millions of dollars nov
, invested at low interest in gilt edged
securities will seek more profitable in
: vestment in the busy field of industry
where they will be utilized in the pay
ment Of wages and the consequent dis
semination of comfort and happines!
among the people.
a ssAnd this it will accomplish, not fo
= the United States alone, but for civil
. cation, for it is not too much to say, Mr.
/ President, that upon the decision of thi
, question depend consequences NOR,
4 momentous than that of any other ques
ton of public policy within the memor.
of this generation. In broader sens,
than any other question attracting thu
general attention of mankind it is
question of civilization. 1t embodie
the hopes and aspirations of our race
The act of Congress which shall happil..
:, solve it will constitute a decree o
2 emancipation as veritable as an
:, that ever freed serf from thraldom
> but more universal in its application
!, 1t will proclaim the freedom o
,, the white race the world over; it viii
9 lift the bowed head of labor; it vii
- hush the threnody of toll; it will inau
: gurate the true renaissance-a renais
sance of prosperity without which in
q dustry, learning, science. literature an
art are but apples Of Sodom."
= In answer to questions Mr.. Jones sal
that if there was free coinage of silve
he believed that in three days the silve
a not used for coinage would be wort
- S1.29 an ounce and that there it Woul
remain.
8 Stanley vexed.
r LONDON, May 14.-Mr. Henry, N
, | Sfanlau in irf !,