The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-13
A STRONG PLEA FOR SILVER.
SPEECH OF SENA TOR JONES or NE
VADA ON THE SILVER QUESTION.

states characterized ms One of Thua,
Historical BIunders that were Wors,
than CrImea-Hnd Effects OF Dcmonc tia
lion In England, France. ana Germany.
WASHINGTON, May 12.-Tho scene in tn,
Senate chamber to-day while Senator Jones o
Nevada was delivering his speech on the silvo
question, and in advocacy Of the bill reported
by him authorizing tho issue of Treasury noie.
on deposits OF silver bullion, wns n fair ndicn
ton Of the great interest tolt in the subject
Senators from tho mining States - STANFORD
Hearst Stewart, Teller, and others sat quite
close to Mr.. Jonos and Rayo him their mos
earnest attention, But an almost equal degree
OF interest was shown by all tho Senators pres
ent, every ono OF whom on both sides Of the
chamber wheeled his chair around 50 ns TO face
the speaker. There was no conversation in
dulRed in, no newspaper reading, no letter
writing: but during tho three hours that the
speech occupied every Senator seemed TO he
paying the closest attc ntion to IT. The number
OF persons in the galleries, however, was not
large Although Mr.. Jones ut times delivered
his remarks at a rather rapid rate OF speed,
there was no difficulty in hearing perfectly and
In understanding every sentence.
Mr.. Jones began his speech by speaking OF
the general unrest prevailing throughout tho
country. Tho prices OF all commodities had
fallen aud continued to fail. Such pho
nomenon MS Il constitutional and progressive
fall In the general range OF prices had always
exercised SO baleful an influence on the pros.
perty OF mankind that 1t never failed to excite
attention. When a fall OF prices was found
operating on the products Of all industries
when 1t was found not to be confined 10 any
one cline. country. or race, but to lie diirused
over the civilized word-iound not TO DO n
characteristic of any one year. but to 60 on for
aria gnTt, IL
could not arise from local. temporary. or sub
ordinate causes, but that it must have It's
genesis and development in some princi-
pie OF universal application. What was
it that produced general decline
OF prices in any country 1t was
shrinkage in the volume OF money
relatively to the population and business. The
world had never had n proper system OF money.
Prosperity and speculation had been stimu-
lated at times by great yields from mines and
when those mines were worked out there came
revulsion and adversely. Ilo went on to speak
OF the natural ratio between gold and silver
existing for $500 or 5000 years-a ratio of
l5!a to land said that it was only since the
legislative prescription of silver In Germany
and the United states and its Punishment from
the mints OF Europe that any material change
in that ratio took place, and that the
present divergence in the relative value
OF the two metals was directly due to
the legal outlawry OF silver, and not TO any
natural causes. 1t had always been the object
OF the creditor class to enhance the value Of
money by reducing it's volume: so that, when
the gold mines OF California and Australia
were producing the largest yield. it was pro-
posed to demonetize gold lie quoted the
French publicist tChevalierl as advocating the
describing of that metal which gave the great
H..
man LHonnetl as saying that the world was
saturated with the precious metals, and that If |
there was any danger against which it was
The motive OF characterization in the case of |
silver as well as of gold was. Mr. Jones said to !
aEgrandzo the creditor class of the, word and |
to cqniiscate. as far Us practicable the rewards
Of the hardy toilersi lie spoke of the demone-
With France as having nieted greater Ter e Wis
On On her people than her armies had inflicted on
France; ana said that when it began to have
was felt at tho sellshness OF the privileged
was to be said in deiento Of the United statcs
In demonstrating siyerr, No such stupendous
D enc BY the en4
tiyes Of a free people. The, United
est In appreciated money. Instead OF that
foreigners, it helped them to despoii the debtors
In America In view OF all the circumstances
r. view Of the hercuean difficulties With which
nonetization OF silver by the United States
lad to be regarded as one OF those historical
The child OF ignorance and avarice and 1t had
1royed the Iroliilc parent Of enforced teness;
20 applied than the absolute reversal OF that
eGislalion and putting hack the monetary sys-
e en- Of the country TO what It was before 1873
All the nations of tho earth had used silver as
money up to 1919, whom Great Britain sunder-
ID the silver link that bound her to other ma
ions. doing SO for reasons Of her. own, arising
rom her position as creditor OF all nations;
'ut the industry OF the English nation became
Within %! Years OF Inc
lum or Of her landowners had been reduced
~ reason Of forced sales from 100000 to 10000.
lad to 1.-Two wholly Or in part on the bounty of
charity That was part OF the price
imposed upon the English people by the cred
tor class.
In the course Of his speech Mr.. Jones gave
p amusing illustration of tho falsity oil the
essed gold clock of such unerrinc accuracy
imepieces OF the town and OF the whole neigh.
orhood; and came to be regarded as infalli- I
last bssys came to h9 town who
lock. and who placed beside It silver clock
equal fine Workmanship. For some time the
ny divergence. but by degrees it came around
nat when the hands on the dial OF the !
liver C!Ock, pOlnt0u 10 noon tlOSe on
10 gold clock pointed TO half past II
In the village ridiculed the silver
lock. derided the silver standard. and hurled (
pithots at the individual who had the temerity &
, doubt the orthodoxy Of tho gold standard I
liver clock has lost. The designer OF the sll- =,
or clock insisted that 1t had not lost time but
lat the gold clock had gained time. His words
ere disregarded, and, with ono accord. the I
eople declared him a lunatic. Finally, the t
verRenoy between the clocks went so far that c
was noon by, tho gold standard. when it WAS was !
ally A. NJ. by the, silver standard; so that
lose. who were guided by the gold standard.
Notwithstanding that IL was yet the gray
the morning. insisted on eating their mid
ay meal But this state OF things could not t
st. 1t was clear that the difference between Z
le stapdards must DO reconc led or ali Industry
9uld be disarranged and the village ruined. q
discussion was rife among the villagers as to t.
10 cause OF the difference. Some said thatth
liver clock had lost time; others that both Il
ocks had lost time. but the silver clock more
ian the gold, while others again asserted that {
oth CLOCKS had gained time. but that the gold c
lock had gained more than the silver clock, Il
many philosopher came long and remark r
by measuring two things, one against {
hother. you can never arrive at any deter ii
linetion as to which has changed, Would 1t j
oS DO we'll 70 consult the sun and the stars.
M a. ascertain exactly what has happenedP"' 4
MS pelnR done. IL WAS disnoynrad tL.t I