Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-01-14

| silver bullion Ii silver reached n parity
| with gold it would remain there only so
long as the government paid the price; the
wants of the people and not the law of
man regulated markets. Sherman de-
| clared that wherever there was free coin
age of silver, gold WAS demonetized, or
| quoted Mt premium. There was no
country in Europe where there was free
coinage of silver What sane man would
pay any debt in gold when he could take
| to the mint silver bullion, costing less in
the markets of the world and receive for
| it treasury notes which were legal tenders
| for all debts.
His Position On the Bland Bill.
Sherman fortified his argument by cit
| ing the fact that when silver, under the
ratio of 1884, was at a premium here, it
was demonetized and remained so for
years, aud in order to get the benefit OF
the use of silver we had to reduce the ra-
ito in order TO pre- vent its expectation.
| Referring 10 the silver legislation of 1878.
he said he opposed the original Bland free
coinage bill, fearing it would make a rev.
| olution in the monetary affairs of the
| country; but he had rot opposed the
Bland Allison act as it was passed, with
| its limitations TO coinage. Speaking of
the workings of the Bland-Allison act,
| Sherman said that $50, O0u, GOO silver dol
/ lars had been coined and main ained at
par with gold. not because of the intrinsic
| value of the silver dollars, but because of
| the credit of the government.
| The Silver System of France.
Had the original Bland bill passed in
| ISIS the country to-day would be on sill
yer standard, but with the Bland
Allison act the country, he thought, was
on the gold standard, and yet the United
States used silver to greater extent than
any other country except France. France
was not half as liberal about silver as the
United States had been for years Silver
| was not coined there and was not "A legal
tender for higher amount than $40, aud
yet the senate had been told that France
was a silver nation. He did not think
that the United States alone, unaided by
the cooperation of foreign powers, could
bring this vast commodity up to 81 - and
keep il there.
| An Extreme Remedy Demanded.
| Why, he asked should the bullion own
ers Of Nevada and Colorado be paid more
| than the market price for their silver?
| Why should not the farmer say when his
wheat went down to less than living
price: Give me what l ought to have, the
average price per year Instead OF pur-
suing simple remedy IA change of ratio
| after comforting with the nations Of the
world about III the extreme remedy was
being pressed OF basing all the wealth of
| the country on a standard of silver which
| was going down in value relatively TO gold.
end had been going down for 400 years
| The Standard Is Gold.
He believed that the best money ever
| devised by man was the treasury notes of
| the United States issued under the law of
'"sr session-gold certificates and silver
ties. That was the kind of money
iuld always circulate Neither gold
yer could circulate among the
an people. There was lying in the
ga mass OF $40, OOO, 600 OF silver dol
IaIs. hat was the highest evidence that
the people did not want either silver coin
or gold coin. They wanted paper based
on silver and on gold, based on solid
! values and supported by the credit of the
| government 1t was mere representa-
| tive Of money, and there has to be a stand
ard OF value behind 1t. The standard now
was gold.
Allison Gives His Views
Allison, in opposing the free coinage
| provision OF the bill, said he believed that
silver had all of the qualities that gold
| had, and that it would be used by the
people OF the world as money, and what.
ever he could do TO promote that end he
would do here, now, everywhere. and al
ways. IL was but poor pretext for a
| free coinage measure, If the effect of il was
| only to take care of our own production
and give to our silver owners "a cents an
ounce. IL looked to the establishments bv
the United States of ratio which did not
prevail anywhere else on the globe
| A Great Change in Values.
| There was, he said, a proposition to
bridge over a difference of "a cents per
ounce between gold and silver, bv a single
act OF legislation. Was it wise he ask ed
| 10 the pensioner, to the laborer. TO the
tiiler OF the soil, to the mechanic, TO any
man VINO earned his money by the sweat
oI MS lace, 10 change in a moment the
relations OF money to property and to
values to the extent of "A rer cent. He
argued from historical parallels that. I'm.
Ger the free silver coinage provision, gold
would go practically out of the cuuntrv
or would be held at its value abroad com!
pared with the value Of silver bulIion
abroad
Cloveland's Position Quoted.
Aldrich then took up the arv1tran+
What, he asked. was there about the bnsi-
ness OF silver mining which made il So Ga
cred that it should have an ADVANTAGE
over all other interests of the country He
uenled there was any lack of currency in
the United states. and asserted that the
currency was ample-twice as great AZ
that or England He declared himself
surprised at the attitude OF Democratic
senators on the subject, and read to them
portion oil Cleveland's silver letter tn A 7
ton Ia f-AsnId others before his inaugura.
Common rumor, Aldrich IlYfr question.
the senator from Nevada (Stewart) womb 7
nave the support OF the solid Democratic
vote. and, therefore, he wished to call
their attention to the change winch such
vote would show to have taken place in
the policy Of their party
Stewart as a Democratic Leader
Inc same gentleman (Cleveland) had
made speech in Philadelphia last week
IN which he undertook 10 delineate the
| principles Of true Democracy. In view Of
the TACT that Cleveland was understood to
oe 'he principal presidential candidate for
MS party ne (Aldrich) had looked through
tue report OF that speech and found that
.here was not one word in it in favor Of
the iree Coinage Of silver He had NOT ey-
peSteo that the senator from Nevada was
70 oe depended upon to furnish the princi.
pies OIL true Democracy. rather than that
Tro'er cleveland should He did NOT
800 IuaI cleveland had been displaced
I In his leadership by that senator -
q Yer and he would watch with much ~
est 70 see whether the ghost dance -.
nsu oeen going on on the Democratic 80
Oh the Chamber would materiaIiz. ~
ii actual leadership of the party for al ti, IU
VI ~ T come daughter and clapoine of
AZ Teller and Mcconnell Tan,
Evarts made a speech ON III
as Sherman's, and then Teller n mes
gold and silver mining was lottsrr- qua, NAV
m that Tor every s. put into the -; 80 ana
10 more than 81 was taken ont. Tho e mo, not
y ron was not one of comnsnsat;oeg ueS
i hnners sherman ought to know ,' tbat u, 70
! interest OF the whole human ra ,na' TN, tht