New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-14

IIe was standing simply by what he believed 10 DO
the best interest OF the country In maintaining
GOOD standard OF value AS to the cry about million
aires Senators must know that nearly all the million
aires in this country were OF modern creation. Theif
fortunes had grown out OF new inventions, out OF
new devices, out Of new property created wHhin a
single generation. When he was law student, Il
man who was worth $4,000 was consid-
cred rich, and one man In his county who
was known 10 be worth 100000, was considered
to lie as rich as Crocsus. But now, III olo' anu all
over the country there men OF great fortunes anu
in nearly every Instance. those fortunes had been
founded upon new industries. There, TO- instance were
the railroads which were largely owned by CAPITALISTS
very little If their stock being nov held by the masses
Of the people, because IL was nsilia'e' so thal inc
stockholders were generally frozen ou and that the
bopdholders came in and took the rad. There was
over SO, 900 100000 Invested in railroads In tms
country and that was basis for some OF the great
fortunes OF the country. Would Senator's nc asAed
do without railroads Would they destroy railroads
as ore Of the great agencies OF life lie took 1t that
they would not Other sources OF great fortunes hsh
come from the telegraph, from telephones from reapins
machines and agricultural impements-ail modern lit
MENTIONS. Then there petroleum, out OF when
vast fortunes had been made greater and more rapidly
than any that had existed before. Monaires should
not be enved their They would die ike tne
rest of mankind IN gwen ue ant Sr law In
the meantime, however, those Inventions had ahoed
not only to the fortunes Of these men, but to the com
true with the mining interest, which had made more
monaires than probably any other interest, excep,
railroads. Then there were mh0nalres VINO Hah
become 50 out Of ironore. There were now iron-ore
mines on Lake Supoior estimated to be worth millions
too with the mines Of gold and silver and
lead. The mining miliouaircs were In California aiia
was therefore, he thought below the dignity OF the
senate TO talk about mlionalrcs' lhey were some o.
the brightest and abes men OF the county Who hid
made their fortunes-wici did not do theh nearly a.
much good the moderate income of pain ctzens aid
ma e thcr fornne and Why should Senators envy
them They should he left to enjoy their wealth.
which they had made honOIaby aud hon tly by IAN
means. They would pass away in few short years
under that common lot which awaits all men, as 10
spectators, every American, nc sara, Wa spcos'p
lie had seen an American yet who dd not specn
late and generally before he wac ten years OF age.
lie began specializing when playing marbles. THESE
SPECTATORS were the men who led IN TO tie great ns
ness Of life Speculation necessary to blslne-
as froh to beer and of what good was man WHO
Mr. sherman then took mp some Of the personal re,
marks directed against him by Mr. Iciier and sdIu Va
them that IL was specimen Of the most suphiic es''
Mr.. Teller explained the remark found fault WIN
by Mr. sherman which was IN reference IL Mr. oher
mans having occupied an accidental position ana sam
that what lie meant BY the phrase t Wv. FL, ,
his views had greater weight with the people lie us
claimed having meant any PERSONAL dlstc,P tr.u 49,
f,ad 70 some r,marks made By Nj Vest, par'icnlarb
in connection with his MR. slcrman's action ut tue
time OF the Paris conference, and oa'd that uat sVi
ference Din which the United States was represehten ny
Mr. Ruggles) the entering ~e1gc which, IL w
mans OF the conference had been carried OUT wonln
nve led To- other conventions and would have cstab
llshd fixed unit of weights ana measures; john
Quincy Adams in one OF his b9ideI sI 1
conventions, wars would cease had expressed eAo.h
his (Nr Sherman's sentiments III iesaiu u ue d src
importance Of int. irrational conventions. ANA no"
that 1t proposed to have sucli cOh'ehuo WIZ. o
south American states was mme 10 s'n ,r n u e
70 agree with each other In pcaccablc ana quiet con
ference rather than 10 war with eaGn Qn ,. ~ '''
de ,tructon of the moral ana material interests. ,
propccd 70 have the 5000 100000 of bonds icon
Mr. Sherman replied that the biz did not say any
thing about that but he Resed .nat Sa inc Eon
be paid for in gold lie had not raised tha' point
Mr. Mr.. sherman-The senator from Alabama wants . 70
S Gc1 our that st' that Will not come Why he asked
should the United States rush into danger ana then
sSnud p they ding themselves into the and fight
The So 500 900 900 Of silver in the world ana the
NV should they do that unless they wanted the silver
standard If senators on the other SIDE dia wan s
could understand the Of senator's from the silver
states to promote the Interests 81 ther dn M
had not said word OF rcproach Of them, nor would
he do lie would recall to sesor sa 1 H With no
mining property in them and where nanssres there
was the ST. ong and determined sympathy which they
Sad foT the cd IDEAS ii Andrew Jackson The common
people believed IN hard money They wg msin T
at par. He cautioned Democratic senator, IV h, w Z,
East and senator. from the southern hc free s" c
age Of silver they would have ce burden Of that com
mitment next year when the responsPIad u he tha
during the four years Of Democratic Administrator
they had not dared to propose ,uch easc y,o u
have driven them To- the principle oi ircs Of vne
,t-t,i r,tiIc
After speaking for about four hours Mr, sherman
resumed his seat amid 6 aP6h y Mr. sher
man as to the imports and exports Of silver ana ae
denied the correctness OF his Satemn e o he straits
of Magellan. The mines that were there were go nd
silver mines Mr. Teller asserted Ia Sve sSu three
dollars put into the mines not more than one uoal
taken out The senator's asmeinI nag The Ue ane a.
tton was not one OF compensation to miners Inc
Mr. Alison said that were 1t not for the fact that
he was a member of the Committee on finance, nc
would take part in the debate Inc pm dnr in his
absence The bill had been considered III the , I'm
mttee, and the fourth section aG oeen SrrseSt
Therefore he was not committed to the substitute snI
would against the amendment me I,,o OIL, ,ba,
it would be solution Of the question at least tbi icr
brief period OF time. But during me rece,s ' ,ht
seemed TO be a feeling akin 10 panic ana disaster Ias
there was not enough money in the country. . one
Of the causes which had created srlngeDey n noN
Yorl, was the fact that the Government aa T5loooV
400 ~ naner money which by the good faith OF the
United states was equal to any other SJlo,UoooVo
that could not find Judgment In New 0rk banks ~,
obedience 10 what he believed to be the wishes OF tose
who desired TO Increase the currency and OF those VINO
wished TO give steadness 10 silver bullion ne naa
voted I'm favor OF the first section Of the BILL IN favor
of making an additional purchase OF S12OOooOO
But after having listened to the speeches OF tne
Senators from Colorado and Nevada he would, when
opportunity offered to strike from the bill It's
first section. $50 90 ,,,.,.s - ,,o.
The fifth section Of the bill was one criticised by those
wbo favored silver as being OF no value IL was
section interpolaed in the bill in the interest OF silver
II n had no value 1t had place In the bill. lie
believed with the Senators who criticised that section
that II was a makeslft but he had been Willing to
cnncede n IN those who desired the experiment 10 be
made lie had clear and distinct views as to what
congress ought TO before II entered on the question
~ oncnng tue minis free cOnage-but IL was not 10
cxneriment for a year But he was willing that the
provision should go in, because II at the END OF the year
hat the minis should he opened lie did not believe
however that this point would ever be reached THIS
Iii Wa rcported not nality but In order 10 bridge
DIi WV H,a..n.rr dnnresslnn In The money markell