, 1891-08-28
SHERMAN'S WILD TALK
His First Speech Devoted to
the Silver Question.
Horrible Results Predicted
if Free Coinage Prevails.
Thinks Democrats and Silver
Men Have Combined.

o.."NN ~
SpoAe 70 " i"iEe cro"u mere 10
day. Ills speech, which was a lengthy
one. was devoted entirely to the silver
nuestion He sunnorteJ tho nrascnt
'or"Sso I Wv s"'u II ooneress hau pro
vlded that all the silver brought to the
mlnts should be coined into dollars no
goId would he coined for an ounce nj Ooln
- Ia
10 VI. noie qua" siA'ee" "uuoes vi )"
yer. Gold would cease to be money and
would be boarded or exported. No man
would be tool enough to deposit an ounce
or .ol5 CO.. o,;n,,e into sixteen dollsrs
., So'u on L.
when, with IT, ne couiu guy enough sh'eI
bullion and have 1t coined without cost
into twenty dollars. Free coinage is all
nonsense. Under the new coinage act
INU-.a. c,.,oajs nrrob.s,o mou,hIu
tue oni'eu S'a'e p "'"'"S
more than the entlre product OF silver bull
lion in the United states, and all this
bullion Is represented In our currency by
either silver coin or legal tender treasury
notes. We expended under this act on
the purchase oil silver bullion prior to
Aug. j, this year, S55,l9l, S2l, and issued
that amount oil treasury notes, which are
now in circulation. We thus provided an
increase OF currency equal to or greater
than the increase OF business and pOpula-
ton OF the United states.
One distinctive. striking feature Of this
law IL that the United States will not pay
Tor silver bullion more than its market
value. Why should WEI Nearly all the
silver produc d in the United States is by
rich corporations in a few new states, and
its production at tie market price is far
more profitable than any crop of the
farmers aud yet 1t is demanded by the
producer OF silver bullion that the United
States should pay HIM % per cent more
than its market value. That fact lies at
the foundation OF the difference between
the Republican and Democratic parties.
The tendency of the policy of the present
act will be to gradually advance the value
of silver bullion to its legal ratio with gold
and. when this Is reached, both metals
will be coined on equal terms and con-
ditions. | believe the measure will work
out most beneficial results
1t has already advanced the value of
our vast stores OF silver in the treasury.
1t has given great activity to the prOdnc-
ton OF silver. 1t has furnished an in
crease OF circulation. 1t has maintained
the gold standard. while udlizlng silver to
the utmost extent short of demonetizing
gold. II is the kew to our exalted. almost
pre- eminent. standing IN commercial credit
and national honor among the nations of
the world. II treats silver and gold, like
all other commodities or productions. as
subject to the universal rule of beng
worth what they will bring in the
markets OF the world. This is the Re
publican doctrine now proclaimed in our
ONO platform. The Democratic policy
OF free coinage, the senator said, means
that we shall purchase all the silver of
iered, come from where it may. and gIve
the holder either coin or treasury notes at
the rate OF 81 TOR every 81 grains, worth
in the market now seventy-seven cents.
Senator Sh rman sr.oEe OF the vast nc
cumulatcd hoard OF silver N other coun-
tries oil the world, estimated by s~tatistl-
cans at $40, n SAID the
Democrats are IN favor oil allowing any
amount oil TINS to be Hooded IN upon MS at
the ABOVE terms. VINO can stlmate the
volume OF SILVER that would come INTO the
treasury II this policy was adopted! 1t Is
a public bid OF twenty nine cents an ounce
more tnan the market price made at a
tune whea SILVER Is aecl'ning IN value and
when many OF the commercial nations are
seeking 10 convert tneir SILVER into gold.
lheV wonid gladly see us take this load on
our shoulders lhey VIII gladly give us
thelr s,iVer at the rate OF sixteen to one
anu taSs our HoIu' ln'ss tne doctrine
wwnlch IL rs CcNPecteu tne conservative
Democrats OF Ohio will adopt in order to
gam the support ana aIiancc OF the SILVER
barons oil the west n the interested self
seekers VINO mop 10 gam an advantage
over their crrdltors . cheapenlng the
standard OF value, and the wild enthusi-
asts VINO believe In an unlimited supply
oil Irredeemabie paper money.
10 assume mat the United States alone
can MAINTAIN silver at the old ratio OF
sixteen 70 one Is a wider deiuslon than
ever hleu rue nrain OF a believer IN nat
money: Inc Iear that tney wonld at
tempt II carried oil gold from
Ine oni9eu otates ~ltnlh iour months;
II Is saiu we ADOPT INC silver standard
we wIn Re' more money ior our iaoor and
Proiuf.ions ! ms uoes not follow, but
eFen IL II oG irue, jug pqtcias'ng power
u "ouey WIN We u.minlsheu. ehyer u0i,
I uim worth seveIty seven GEMS In goId
"ni ouf ~ inolu iooI auu cIothlng than
SSSen.y seyen ce9's OF pun money now.
Luz cdfitalls' anu speculaior can protect
nonmants Tho w i.p"LhH 'oI eqtn
liz, iii, on WIN n VI tnlS
,be;r da;i. Ia bbou Gu ,nV ~ u hepeuu upon
Is Far ,bo hanogt t or th uanS uLeSo; anu
hy "enen. vi tuose Tno nope
With mnnon ics moIeyi pay 'heLt uGots
agreed 10 nav '"'ao'e '"an 'n"' 'hey
Examin;nS ,ho ,o.. ~:
canvass bv the Demoora,;, rnn ~ enls