The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-05-14
SILVER-PLATED SAYINGS.
SILENCE MAY BE GOLDEN. BUT 1T
DON'T COUNT IN THE SENATE.


Jones of Nevada Pictures a Millennium
to Follow the Passage of the Bullion
Bill-Jones of Arkansas Follows His
Namesake from Nevada but Opposes
the Measure.
WASHINGTON, May 1S.-The Senate at l
o'clock this afternoon resumed considera-
ton Of the silver bill, and Mr.. Jones of
Nevada concluded the speech begun by him
yesterday. 81 predict. Mr.. President" he
said, "that the restoration of silver to its
birthright will mark an epoch in the history
of this republic. 1t will place in circula-
ton an amount OF money commen-
surate with the increasing population.
1t will give assurance 70 our
languishing industries that the volume Of
our circulating medium is not to continue
shrinking, and that the tendency Of prices
shall no longer be downward. 1t will in
crease the wages of labor and the prices Of
the products of labor. 1t will reduce the
price of bonds and other forms of money
futures. 1t will tighten, but not inequita-
bly, burden our mortgages. It Will increase
largely, though not unjusrly, the debt
paying and tax-paying power of thep people.
WILL LIGHrEN THE DEBTORS YOKE.
"It will loosen the grasp of the country
from the neck of the debtor. BY the re-
monetization of silver money will cease TO
be an object of collision and will again be-
come beneficent instrument. Activity
will replace stagnation; movement will
| supplant inertia; courage will Danish fear;
confidence will dispel doubt; hope will
supersede despair; the lifting of silver into
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 put
ting every willing man to WORK. lt will
revive business and reanimate the heart
and hope Of the masses. Capital, no longer
fearing fall in prices, will turn into pro-
| ductive avenues.
| WILL MAKE DOLLARS JINGLE.
"Hoards of money lying idle in bank
vaults will come out to bless and enrich
alike their owners and the community at
large, while millions of dollars now invested
at low interest in giltedge securities
will seek more profitable invest.
ment in the busy field Of
industry, where they will be utilized in the
payment of wages and the consequent dis
semination of comfort and happiness among
the people, and this it will accomplish not
for the United States alone, but for civil
| ization, for it Is not too much to say, Mr..
President, that upon this question depend
| consequences more momentous than upon
that of any other question of public policy
within the memory Of this generation.
| THE QUESTION OF CIVILIZATION.
''In broader sense than any other ques-
| ton attractings the general attention of
mankind is the question of civilization. 1t
embodies the hopes and aspirations of our
race. The ac5 of congress which shall hap.
PLY solve it will constitute a decree OF eman-
cipation Us veritable as any that ever freed
| serf from thraldonl. But, more universal
in its application, it will proclaim the FREQ
dom of the white race the world over; it
will lift the bowed head Of labor; it will
hush the threnody of toll; it will inaugu-
| rate true renaissance-a renaissance Of
prosperity without which industry, learn
ing, science, literature and art are but
apples Of sodom."
MAY DRIVE OUT GOLD.
Mr.. Mcpherson asked Mr.. Jones whether
he asserted broadly and boldly that with
free coinage Of silver, gold would not be
driven out of the country to a greater ex-
tent than dollar of gold for every addi-
tional dollar Of silver.
Mr.. Jones-Absolutely.
Mr.. Jones concluded his speech at 1915
o'clock, having occupied in all five and
quarter hours.
MIR. Jones of Arkansas next addressed
the Senate in criticism of the pend
ing bill. The silver question, he
said, was one Of the greatest i'm
portance. Its magnitude could scarcely
be overestimated; yet, just now. its greatest
| Importance came from political considera-
tions. Full reconciliation of silver would
naturally produce two results. 1t would
increase the value of silver bullion. and it
would greatly increase the volume of money
and of commodities and result in a general
revival of business. The mere increase Of
the bullion value of silver was Of no interest
to anybody except the mine owners. The
public would receive no benefit from it. and
care nothing about it, yet that was the pur-
pose of the pending bill.
WOULD DEMoNETIZE SILVER.
It's only active purpose was absolute de-
monetiza6ion Of silver. The purchase Of
a. 800, 600 worth of silver per month would
consume the worlds surplus of silver. IL
so, bulli II would rise rapidly in value after
the passage of the act, and might soon
reach point at which the gov
ernment would (under the oper-
alton of the law be required to suspend
its purchases. What then would be the
condition2 Silver bullion would remain at
that price, because the moment it fell a
shade below 81 for 37l 4 grains Of pure sill
Yer the government again became a pur-
chaser, and the price went up again. While
it remained up the government could buy
no silver, and there would not be 81 coined.
The result would DO great increase IN Jne
value Of silver bullion as a commodity SIM
ply, but its demonetzation would be COM
plete and absolute.
SHOULD NEVER BECOME A LAW.
The bill, as it stood, should never become
law, but should be amended by making it
provide at least for unlimited coinage Of
silver whenever the price reached the point
at which the government ceased to be a
purchaser. This was an absolute necessity
unless the purpose was to destroy
silver as money. Those who would
vote for the bill as it stood
certainly intended demonetization of silver,
and might as well avow it. While striking
fatal blow at the interests of the great
body Of the people, they intended only to
benefit the sellers of silver bullion by in-
creasing its price. The deliberate pur-
pose TO discredit silver treasury notes by
refusing to make them legal tender sug-
gested further that the real purpose
had in view by the Republican
party was that which he had
indicated. He was in favor of the
issue of certificates for coin and bullion,
and of comforting upon them the qualities
of legal tender as broadly and completely
as it was conferred upon the coins which
they represented.
ATTITUDE OF THE MINORITY.
Mr.. Harris, member Of the finance COM
| mil f11aft tha min Of