Los Angeles herald., 1891-07-25
HONEST" JOHN SHERMAN pILLoRrEp.

49, WhStS, Al thC iCdllllS IlidSdZllltS
OF the country, in newspapers and in the
Associated Press. He has been very
successful in puncturing that tremend-
GUS old hypocrite, John Sherman, who
has been the direct instrumentality OF
more evil to his countrymen than any
man that ever lived, through his cum
ming services to the gold bugs of Wall
street, in New York, and Change, in
London. He has been talking some tall
twaddle lately about the advocates OF
the free coinage of silver, claiming that
they desire to force the government into
buying silver at S1.29 an ounce when it's
market price is only 81. As matter of
fact, the very essence OF the contention
of the silver men is that they don't want
the government to buy silver at all, but
simply to stamp 37114 grains as dollar.
Their only request is that it shall be
treated precisely as gold is treated. On
this point Senator Stewart says, in his
'Open Letter to John Sherman -
If you had not been too much occu-
pied with other matters, in stating that
the producers of silver bullion demand
that the United States shall buy silver
at $l.29 per ounce, when the market
price is only about 81, are you ignorant
of the fact that no such demand was
ever made, but, on the contrary, that
silver miners protest against the pur-
chase of silver as a commodity at any
price? If you are | will inform you
that the demand is that silver shall be
coined at the United States mints upon
the same terms and conditions which
apply to the coinage of gold.
The government does not buy gold.
1t coins it for the owner of the bullion
to furnish money for the people. The
demand is that the coinage of silver
shall no longer be treated as COM
modify or purchased by the government.
Senator Stewart next proceeds to re-
mind Sherman that, according to the
directors of the mint, during the exist
ence of the Bland act, the United States
made SIC, 100000 clear profit in the coin
age of silver dollars. This munificent
sum ought certainly to have gone into
the pockets of the hardy and adventur-
GUS men, delivers in the earth, who have
been obliged to maintain this great in
terest against such distressing odds.
The act of 1890, superseding the Bland
act, and providing for the issuance of
treasury notes at the market value for
4 5000 ounces of silver bullion per
month, does not provide for the pur-
chase OF silver with money raised by
taxation. On the contrary, it provides
for the issuance OF paper money on the
receipt of silver bullion at the market
price, dollar for dollar.
Mr.. Stewart comes back very happily
on Sherman on the ''honest dollar"
whine of the gold-bugs. Whenever it
comes to granting special favors to
banks and capitalists, all the influence
of the Ohio Chadband has been at their
service. When Mr.. Sherman was Sec
retary of the treasury he was in very
close affiliation with the Third National
bank OF New York City, and his mil
ions are supposed to date from that
cordial and doubtless reciprocal rela-
tien. The Nevada senator puts the sit
nation very happily thus:
You say that it seems almost a wild
lunacy for us to disturb this happy con-
dition by changing the standard OF all
contracts, including special contracrs
payable in gold. 1t is unfortunate, my
dear senator, that you did not entertain
similar views to these when you had
charge of the bill which demonetized
silver and converted every contract
which was payable in either gold, silver
or paper into contract payable in gold.
You expressed willingness to in
crease the supply OF money whenever it
is necessary. What is your plan for in
creasing it? Are you still in favor of
issuing 2 per cent. bonds to enable the
national banks to increase their circu-
lating mediums? After your attack
upon the miners you would be surprised
if they should suggest that national
banks had been the recipients OF special
favors from the government.
How many millions has it cost the
taxpayers of the United States to main
tain the national banks? Ii the increase
in the national bank circulation is your
method of furnishing more money, you
may as well abandon the idea. The
people will not Submit to it. Your let
ter isswell calculated to give aid and
comfort to the rich, whose wealth has
been enormously augmented by the en-
HANGED value of money.
1t was largely through the influence
of men like Sherman that the national
debt, which was originally payable,
principal and interest in lawful money
Of the United States, was afterwards
made payable in gold coin. BY that
Ubiquitous statute the burdens OF the
taxpayers were largely increased. Hon.
rhaddeus Stevens, who framed the laws
treating our national debt, got up in his
place in congress, as chairman of the
committee OF ways and means, and
declared that that debt was
payable, principal and interest, in law
ul money of the United States, viz,
gold, silver and greenbacks. 1t was
Sherman. and his fellow conspirators
who, although we'll knowing this to be
rue, first made the debt payable in
gold coin, and afterwards demonetized
silver, in order that the people should
De bound in financial shackles.
These two infamies are the great
'st robberies ever perpetrated in the
history of the world, and it is the men
u