Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-05-13
JONES OF NEVADA.
The Champion of Silver Talks
to the Senate.
A STRONG PLEA FOR FREE COINAGE

Ponca Indians Given the Grand Bluff by
Secretary NobIe-Debate in the House
To Be Very short and to the Point
What Leech Knows of n Corner on sil-
ver-Got Back from Arkansas Alive
ofaesal Notes from the Capital.
WASHINGTON CITY, May l3.-The debate
On the silver question began in earnest in
the senate yesterday, Jones of Nevada
opening the campaign with speech that
occupied three hours and still was not fin
ished- The speech was made in support Of
the bin reported from the finance commit
tee He began by referring to the fall Of
prices Of commodities, which he said had
fallen and continued to fall. Such phe-
nomenon as q constant and progressive
fall In the general range of prices had al
ways exercised so baneful an influence on
the prosperity of mankind that IT never
failed 70 excite attention. When fall in
prices was found operating on the prod
ucts of all industries, when it wss found
not 70 be confined TO any one cline, coun-
try, or race but TO be difused over the
civilized world-found not TO be a charac-
teristic of any one year, but TO so on for a
series Of years, it became manifest that IL
could not arise from local, temporary or
subordinate causes, but that il must have
its genesis and development in some prin-
cipal of universal application.
The Cause of the Trouble.
What was il, he asked, that produced
general decline of prices in any country
1t was a shrinkage in the volume of money
relatively 10 the population and business.
The world had never had proper system
of money. Prosperity and speculation had
been stimulated at times by great yields
from mines: and when these mines were
worked ont, then came reyUlsion and adj
versity. He went on 10 speak OF the ma
tural ratio between gold and silver exist
ing for :, $50 or 1900 years-a ratio Of 49,
TO land said that it was only since the
legislative prescription OF silver in Ger
many and the United States and its ban
ishment from the minis of Europe that
any material change in the ratio took
place, and that the present divergence in
the relative value of the two metals was
directly due 10 the legal outlawry Of silver,
and net 10 any natural cause.
The Perfidious Man Who Lends
II has always been the object OF the cred
itors to enhance the value Of money by re-
dUcing its volume, so that when the gold
| mines Of California and Australia were
producing the largest yield it was pro
posed to demOnetize gold. The motive Of
| demonstration in the case OF gold, as well
as silver was 10 aggrandize the creditor
| class of the world, and 10 conflscate, so
far as practicable, the rewards of the hardy
| tOilers The demonstration of silver by
Germany, after her war with France. he
said, inflicted greater evils on her people
than her armies had inflicted on France,
and when that evil began to have its eff
feet a veritable hegira Of the German pop
ulation began TO take place.
Our Own Decentralization of Silver.
The decentralization OF silver by the
United States in 1873 he regarded as one Of
/ those historical bunders that We're worse
than crimes Ii was the child of ignorance
and avarice, and it had proved the prolific
parent Of enforced idleness, poverty, and
| misery. No better remedy could be ap-
piled than the absolute reversal of that
| legislation, and putting back the monetary
| system OF the country to what it was before
1873 The value Of both gold and silver
| had risen with relation TO all other COM
| moditieS. the rise being relatively slight in
silver and rGinously great in gold
Bigger the Quantity Greater the Value.
Jones said that in order that prices
might be kept from falling, the number of
dollars ont should not be reduced in num-
| Der for the purchasing power OF each dol
lar depended on the whole number out;
And the larger number out the greater the
| value of each. To ave id too violent changes
in the purchasing power OF money, caused
by too great abundance or scarcity OF it,
society for 3, 90 years has used the two
metals, gold and silver, so that their
mutual oscillations of yield from the
mines might serve TO correct one another
Should one of these be discarded and de
prived of the power of legal tender. all the
money work OF society would be thrown
on the other, whose value would there
fore greatly increase.
Creditors Want Dear Money
Jones dwelt with emphasis on the fact
that the creditors did not care which
metal was demonetized, provided money
was made scarce and dear. Germany and
Austria demonetized gold in 1851, but fail
ing TO secure the cooperation OF England,
Germany in 1870, elsted with her victory
over France, and expecting to further
cripple that country, reversed her policy
and joined England in discarding silver
and adopted the gold standard. Jones
warmly defended the silver miners from
the charge of selfishness in desiring the
reconciliation of silver The silver min
ers, he said, were as enduring. as eager, as
vigorous, as adventurous as the argonauts
OF old They had never asked any favors
of the government, AID they asked none
| now. Their calling was an honorable one
| and needed no defense