Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-08-28

1T rs DEVOTED TO rHG SILVER
QUESTION.
ES'President Cleyeland's uiteranccs
Referred to.-Thc Springfield
Platform.
Senator sherman oi Onto Give. hts
Views.

htof Sutruan male hia opening
speech OF the campaign today 10 5000
people.
The speech was a lengthy ono, de.
voted entirely TO the silver question.
hpaupported the present coinage act,
and said.
at Congress had provided that all
the silver brought 10 the mint should
bc coiued Into dollars, n0 gold would
be coined, for au ounce Of gold IL worth
more than sixteen ounces OF silver.
Gold would cease 10 lie money and
would he boarded or exported. No
man would be- fool enough 10 de-
poslt an ounce " gold for coinage into
sixteen dOllarp, when with II be could
buy enough silver bullion and have IL
coined without coat into twenty dollars.
Free coinage II all nonsense. Under
the new coinage act the treasury Ia
putchasing monthly more than tho
entire product Of silver bullion In tho
United States, aud all this bullion is
REPRESENTED In our currency by either
silver coin or legal tender treasury
notes. We expended underthls act In
THE PURCHASE % SILVER nuLLioS
prior TO August lst this year, s55,i9i,-
81, hnd issued that amount Of treasury
notes, which are now In circulation.
We thus provided an increase Of cur
feucy equal n or greater than the In
crease OF business and population OF tho
United States.
One distinctive striking feature Of
this law Ia that the United States will
not pay for silver bullion more than It's
market value. Why should We? Nearly
all the silver produced In tho United
states Is by rich coEpomtlons In n few
| new States, and IT, production at tho
market price Il far more profitable than
any crop OF tho farmer, aud yet IL IL
the demand OF tho producer Of silver
bullion that tho United States should
pay twenty-five per cent. NOR. than It's
market value. That lies ut the foun-
dalton Of the difference between the
Republican and the Democratic
parties.
The tendency Of the policy OF the
present act viii DO 10 gradually nd.
vance the value VI silver bullion TO It's
legal ratio with gold, aud when this IL
reached, both metals viii be coined ON
equal terms and conditions. I believe
the measure will work out
the MOST BENEFICIAL RESULTS.
II has given great activity 10 tho
| production ~ silver. IL has furnished
Ru Increase OF circulation. IL has
maintained the gold standard, whilc
utilizing silver 10 the utmost extent
short OF demonstrating gold. II IL tho
| key 10 our exalted, almost pre-eminent
standing In commercial credit and ma
| tional honor among the nations OF tho
world. This II the RepubllcAn doe
irinc now proclaimed In our Ohio
platform.
TIM DEMOCRATIC roLIcy
Of FREQ coinage" said the senator,
"means that We shall purchase all the
| silver that II offered, come from where
II may. aud give the holder coin or
treasury notes at the nate Of 81 for every
aIl grains, worth In the market now
/ ~ ccnts.n
Senator Sherman spoke OF the vast
accumulated hoard Of silver In other
countries Of the world, estimated by
statisticians at S3,Sl0,5 1854, and
said; 1.-THE Democrats are In ia
vor Of allowing any amount Of this
TO lie Hooded Ia upon Us Mt the above
terms. who can estimate the volume
OF silver that would come into the
treasury II this policy were adopted?
II ia a public bid u twenty. mine cents
an ounce more than the market price,
made ut q time when silver liz dcclin.
ing In value aud when many commer-
cial nations are seeking 10 convert their
silver into gold.
They would gladly nee US take thls
load ON our shoulders. They will
gladly
GIVE Us TIIEiR SILVER
at the rate Of slxteen 10 one and take
our gold. This Il the doctrine which
II T. expected the conservative Demo.
Gratis Of Ohio will adopt In order TO gain
the support and alliance OF the silver
barons OF the West, and the Interested
self.seeker who hope TO gain advantage
over their creditors by cheapening Ia.
standard OF value, and the wild enthu.
siasts who believe Ia the unlimited
supply of lrfedeemnble paper money.
To assume that tho United
States eau maintain silver at tho
old ratio Of slxt-en 10 one, Ia q
wilder deluslon. than ever filled
the brain Of believer IN Hat money.
There Ia no fear that we would attempt
II. II carried 81, 900, 900 Of gold from
the United States within four months.
II II said that II We adopt u silver
standard we will get more money for
our labor and productions. This does
not follow, but even II II be true tho
purchasing power Of the money will be
diminished. Silver dollars worth II
cents In gold will buy no more food
aud clothing than II cents OF our
money now.
CAPITALISTS AND spEcULAToRs
can protect themselves from loss by
STIMULATING for gold payments. The
whole burden Of this policy falls upon
those who hope by cheapening money
TO pay their debts with money less
va luahle than they agreed to pay"
Examining the position taken In thia
canvass 10y the Democratic party, Sem
ator Sherman referred 70 ex- President
Cleveland'a utterances on the silver
question, and said that while Cleve.
land was President no tres coinage
measure was proposed. "President
Harrison IL known 10 entertain the
same opinions, yet now, unde. "a
stronger leadership, this scheme to
change the standard Of value IL pressed
into our State canvass. / believe 1t Ii