The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-06-21
HILL ON SILVER.

Senator HIPS letter to the editor of the
Kansas Democrat on the silver question is
precisely what might be expected from The
Ex-Governor Of New York. 1t is the utter
ance of typical demagOgue. The letter is
said to have been written last December:
il only sees the light on the eve OF the
Chicago convention. The idea was that
Hill. who has been non-cOmmittal in the
Senate, should spring on the West pro-
fession of such extreme silverism that the
silver States and the debtor States would
flock TO his support. Hill says:
Free timetable coinage is the demand OF the
vast majority Of the American people. No won
der II gave 10 the United States parity OF the
silver dollar and the gold dollar for so years.
Free timetable coinage is the last Work OF none
Iary science. To restore it safely, wisely and
finally is the mission Of the Democratic party.
Is it possible to combine dupliciy and
real or pretended ignorance Of financial
history more cOmpactly? What does free
bmetallic coinage" mean? If it means
that the two metals should be coined at the
Mint for equal charges, not "a majority
but all the American people are in favor OF
that, and the Government has always faith
fully done so, except during brief period.
If it means that gold pieces shall be coined
with gold enough In them so that they shall
be worth their face as bullion. while silver
pieces shall be exchanged for bullion when
they are only worth as bullion one-thrd OF
their face. no one is in favor OF that except
the silver-miners. This Senator Hill knows
perfectly well. When he is at home lie is in
favor of dollars which are worth hundred
cents. When he writes to the people OF
Kansas and figures them up as a community
which, being in debt, is in favor OF de-
preciated Gu rTency. he proclaims himself III
favor of free blmeta llle coinage" hoping
that they will construe the declaration as
pledge that he would, If elected President,
sign a bill authorizing an issue OF 7O-cent
dollars to pass current as real dollars.
He says that free bimetallic coinage gave
to the United States a parity OF the silver
dollar and the gold dollar for so years" 1t
is quite possible that he is so ignorant Of
finance that he believes this to be the case.
As matter Of fact. there were many changes
in the coinage laws between 1892 and 1878,
when the Sherman act was passed, and the
relative value of the gold and the silver
coins was governed not by the adherence OF
the Uni ed States to free bmetalic coinage,
but by the supply Of the two metals and
various extraneous causes. The Robert /.
Hunter act. of which Senator Hill perhaps
never heard, reduced the bullion in the
silver coins of the United States for the
express purpose OF preventing their eX-
port, and the act, which was passed in
1853, authorized the mint TO refuse to coin
silver for individuals. If Mr.. Hill considers
this free bimetallic coinage he must attach
singular meaning to words.
Again, in one breath he tells US that free
Dmetallic coinage gave to the United States
parity Of the gold and the silver dollar for
so years." and in the next he says that
free bmetalIic coinage is The last work Of
monetary science" Which is it? 1t cannot
be both. II it Is an old practice it cannot be
q new discovery; if it is the last work Of
monetary science it cannot have been used
by our fOrefathers so years ago
Perhaps it is. as Hill says. the mission of
the Democratic party TO make silver worth
81 % an ounce; but if the party does under
take that rather appalling task we suspect
that it viii undertake it under the guidance
Of some one who understands the rudlments
Of finance. and not under that of Senator
Hill.
His fortunes at Chicago will be fun of
instruction. The vote which he gets will
afford a measure OF the devotion OF Demo
Gratis to honesty and truth. His support
Will show how far trickery and double-deal-
ing will avail in a representative body of
Democrats. When MI Blaine wrote letter
saying that he was not q candidate, and
then afterward appeared as a candidate at
Minneapolis, the honorable men Of the Re-
publican party refused to countenance such
apparent double-dealing, aud turned their
backs on him. We shall now see whether
the same nice sense Of honor sways the
Democratic convention at Chicago; If, as
many think. it chooses Hill as its standard
bearer, 1t cannot escape the imputation that
it sees no wrong in duplcity, demagogy
and fraud