Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-20
SHERMAN ON SILVER.
Protection and Sound Cur
rency Must Stand or Fall
Together in Ohio.
DEMOCRATS CAN'T ESCAPE.
The Free Coinage Plank of Their
Platform Forced the Issue.
THE PEOPLE WANT PAPER MONEY.
1t Is All Right to Buy Bullion at Market
Rates and Issue on II.
DEMOCRATS CAN'T ESCAPE.
THE PEOPLE WANT PAPER MONEY.
AN ERA OF GREAT PROSPERITY AHEAD


Sherman is in love with his beautiful home
on Park avenue west in this thriving little
CITY, though he has for his near neighbor:
those VOC erous advocates of free trade
ConCrcsSman-elect Michael d. Harter and
General Biinkerhoif But they do not dis
turb his summers rest. and when voul
correspondent found him to-day in his cosy
library he was the picture of content. He
Is resting until next week, when he enters
the financial campaign in earnest at the
State fair al Columbus, and thence on.
Producing rare old liquor that visitors
al the Sherman mansion have learned to
know and brand of cigars against which
there could never be breath of scandal,
the Senator launched gracefully into the
Ohio situation, reiterating his remarks
which l sent you some time ago on the
national importance of the campaign
CANT ESCAPE THE MONEY ISSUE.
Situated on the border line between what
] may call the East and the great West, 3"
said the Senator, ''it is perhaps the natural
field for such contests as we have on this
year. The Ohio idea set the pace for the
entire greenback craze throughout the
United States, and the stroke it received IN
this State in the campaign of 1875 stunted
il all over the country. Had it succeeded
here there is no saying where the craze
might have gone. Ex-President Hayes and
mvSeh opened that campaign together
which was the beginning of our close ac-
Quaintance. The Democrats were very
rampant upon the greenback subject IN
those days, and we had a most stirring
campaign. That is just what we are going
10 have this year, with the element of the
tariff and State issues added"
rs it possible for yCur opponents to
Ehirk the financial question? I see that the
Democratic papers say: 1--WE are not trying
the money question this year and do not in
tend TO be forced to try it. ="
The Senator smiled and said: '"They can
not help but try it. The issue was made by
themselves when they put free coinage in
their platform to catch the Farmers ALI
Ance or Peoples party. They have not OBJ
tained very happy results so far, and have
no doubt they would be glad to get rid of it,
for their experience in the past upon the
fiscal questions in this State has not been
very satisfactory.
TARIFF AND SILVER GO TOGETHER.
''While they NAV want to get rid of il
now, if they should win the State fight they
would not hesitate to proclaim it as a great
financial victory. 1t would also have that
effect upon the country and make free silver
q party question in the next campaign, the
Democracy having the prestige of having
carried Ohio upon that issue, even if they
shirk the argument upon it from now until
the end of the campaign. That is why our
bgrtlc this year is such an important one,
and it will have to be fought out upon
the economic questions which the Democ-
racy has accepted and the financial one
which they have forced, and which is as i'm
portant as any other. "
is the plan OF campaign now well de-
fined?"
1T is so far as the Republican party is
concerned. We could not dwarf the tariff
question if we would. Protection and
sound currency must stand or fall together
Some of our Republican semi-free trade
newspapers in the East are after us about
our tariff policy; but ii they will stop mo-
mort to consider the situation they will see
that in a campaign of this character the one
Issue cannot be dropped for the other to
please any section Of the country. Our con-
test in Ohio affects all sections alike, and
We must win or lose upon what has been
already laid down as our sheet anchors.
The financial eenters of the East should look |
with much care upon this situation and |
study the effect it will have upon our future,
II the decree goes forth this fall that the \
people are in favor of an adulterated cur
rercy."
MARKET FOR GOLD AND SILVER
''Could the Government maintain the sill |
yer dollar on a par with gold under free
aud unlimited coinage act 2"
Certainly not The only way that silver |
can ho kept on par with gold is to treat it
as subsidiary coic and let its rate of value
hc regulated by the markets of the world |
That would have to he 50 under any law or
custom, because no single nation can regu-
late the price Of any other coin than the
one which has q stable value at all times and
under al conditions This Government if
u became the purchaser of all the silver
bulH"R IN this country, could not maintain
that coin on par with gold or prevent sill
Yer .iollar from depreciatinc in value, Ex-
ampicS are rlentY which illustrate this fact
beyond the question of doubt There is a
difference between the market value of sill
Yer and gold, and they are separate from
each other Gold being held as the stand
ard, silver must necessarily rise or fall ac
ccrdjng to the demands of the great marts
for what is mined or manufactured 1t can
hot regulate the value of silver bullion in
Europe any more than it can regulate the
price Of any commodity we produce in those
markets Hence it is that an attempt bv
th;S Government, powerful as it is. 10 fx an
arbitrary value for silver upon legal fen
der basis without considering the gold
standard. would be ineffective and bring an
era of suspicion and distrust that would he
full OF peril TO our business interests -
THE PEOPLE PREFER PAPER MONEY.
"What would likely be the coinage of
silver per annum under such an act as is
now pToposed?'
That is verv difficult to say. Silver
would and could be bought in any or all of
the markets OF the world and how much
would he piled away in the Government
vaults no man can tell Our people are not |
ond OF coin as money, and it would be diff !
sult to even get them to use gold to any
such extent as they do in the old countries. +
Dur people are used to and are fond of a pa
per currency. Although we have over 3O0,-
jJt"uD OF silver dollars coined not more
hau 10, GOa, O0D in round numbers have been |
DR. eau BE- kepl in circulation. When | was |
secretary OF the Treasury | tried by every
possible device to get the silver coin in the
pockets "t the people, and it cost the Gov
'fai"ehJ Il good deal of money to make the
AprHment. We sent it out TO postmasters
Inn adopted other means # getting it in cir
'aiauon; but, try our best, we could get :
ne people 10 handle but small percentage
h IL, ana they would have been and would I
1e glad TO handle even less than they do now. |
L Is all very good to take silver bullion into !
ne lreaSury Department as the basis upon
a men to Issue paper money, but to under.
axe to crowd upon the country more silver
IoilarS the bullion for which the Govern
,I"nt must purchase at a premium over the
.mrNct value designated by the demands Of i
rade IN tie great ccnIcrs of civilization, /