The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-06-02
SHERMAN'S TALK ON SILVER.
VIZ GHOuLD E6IA1LnsH.AM 1w RATIO
BErWxxB TEE TWO MHElLa

The Nssieusi 1eakins eysts.s ne Tanks,
win Have - ee Afssr the outsts.Ains
Douas are Paid on. ana . New systs- or
finance H..st.a BASED On aolA ana silver
Dad che Faith OF the Government.
WASHINGTON. June 1.-Senstor Sherman re-
sumed his speech on the silver question In the
Senate to-day. and announced his intention
not to Yield to any Interruptions. He said
thoro was law Of finance as immutablo as
tho Ton Commandments. which was TINT
whom there were two metals In circulation.
tho cheaper metal would always displace the
better metal. This had been carly established
in English financial crises. and had been de-
cidcd BY the great weight and authority OF Sir
1saao Newton. upon whose Recommendation
all the silver Of that country had been re-
coined. He referred to the depreciation OF the
silver rupee In India. and said hore was
country which for untold ages had boon deal
ing with silver. and vet las appeared from arti-
cles from the London Times which no ready
was AFFLICTED with the Same decline OF prices
and was threatening to resort to the same
standard as prevailed In Europe and IN the
United States-the gold standard. The people
did not want cheap money: they wanted moro
money and plenty Of 1t, but the two ideas had
boon blended together and used to support tho
free coinage Of silver.
lido think" continued Mr.. Sherman. that
thcre should DO some changes in our financial
laws Among them. and first OF all. VIC ought
to do what our ancestors have done. and what
every nation has done. that is. to establish
new ratio between silver and gold. not to mako
them exactly equal. because that is impossi
ble hut thcy ought to be so near together that
they would in tho main stand in that ratio.
The ratio Of 10 to is no moro sacred than tho
ratio Of IS to I. which was changed In Gen.
Jackson's time"
He referred to tho recent interview between
Mr.. Goschon. tho British Chancellor OF the ES-
choqner and delegation OF bimctallists. rs
showing that Great Britain was willing to
make important concessions on this subject.
Franco also was willing and always had been.
France was bound to protect tho other nations
Of the Latin Union.
II am willing to do another thing" said Mr..
Sherman. Il nm willing to stand by the
President and aid him all wo can In this in
ternntonal conference. an Elud my friend
from Nevada Mr. Joncsl is going there. l
homo the conference will 10 made strong.
and that they will be able to do something
to Lessen tho evils which are now pressing on
tho financial conditions OF all the nations
Of the world Other things have to be done.
hut probably this il not the time to discuss
them. There is Enthusiastically feeling in
this country q ours that tho currency is, too
and may he able 10 explain it. it is not SO with
uti cr nations. and there is u feeling among
TIC ~" tint our currency shrn d,,. he simn,i-
the. want M increased VOLUME OF money. This
may be somewhat difficult to, do.
whether rightly nr wrongly 1t is not for mo TO
say are not in favor 1.-THE continuance of tho
national ,Hnking system GpsGr than is neces,
bonds. Tnrsn bonds have been reduced to SO
low m an"unt that the pe9ne care , very little
cd debt has ceased to be phantom. although
ut the close Of the war everybody who knew
e00ns m"n Of spars
q ,Ss, aSfFlns sao dss % s1s '"sss
ow Hd'f three thousand millions. ThS ,r Es
repeat. Tint the people will not tot
system longer than the continuance of tho
security than tho security OF tho United states.
AS TO the amount OF currency my own opinion
about sufIcient: II does rot follow thas Il
and sds is % sea IT, II hr
Yer ,canita I" the poor and leave out the rich;
United, states to deal with this question anG
t2 establish ratio based upon the population
think safe, and to remodel and retnact al our
varied ,; systems Of finance. We have gold and
our crcHation Then. o probahy the "sher
third might be issued on tho filth. oi
thc Government, Such q system might
scheme Of free coinage has all the, eie-
monts OF weakness, and; l vii! almose
DEAL With Inaneo in smant nHs Pr %s
ccampnign. whii, mel are scheming for. posi-
tinn; Mo cann"t have very wiIe Legislation at
i i bound to take on the tariff; This question
clans, 1t ought to be guarded and carefully
United states BELIEVING the attemnt to bring
STANDARD of silver coin alone is a bad project.
wrong in principle and wrong in detail. iniuri-
tegrity. and robbery Of tho w"rkingman nj and md
s 81 sy5 pspsst rshu demon to be resist
A, the CLOSE Of Mr.. shermnn's speech Mr..
A All usep. T. IL suggested that as many
BE- entered int" that MhIo he dol ;ate might might
Bill or any amend ments before juns il. " Wv
Several senators on tho Democratic siGe
limited that 4 might be d, sired 10 e%iond the
Mr. Aldrlch replied that he was entirely
willing to contin4r .hn n:rreolncnt, until after
should press for n yoie On ll:o I'LL before the
Chicago Convention n Juno ~. For the time
sstsnded GeSond Iaas H. consent was not
Mr.. stewart utop.. Ney.l took the floor to re-
ply TO Mr.. sherman; The Ohio Senator at the
same moment rose to leave tho chamber. Mr..
Stewart expressed an earnest wish that tho
senator fron Ohio would not leave. as he mir.
Stewart intended to show up TINT gentlemuus
record on tho silver question.
Mr.; Sherman. without needing the request,
continued on his way.
Mr.. Stewart. In the course OF long speech.
denounced the projected international con-
{srence as 2 plan TO send ambassadors, 10
Europe to determine how much tighter tho
bonds should BIO drawn round the people. and
to proclaim to the nations OF Europe that we
were not capable Of establishing financial
system of our own.
- When Mr. Stewart resumed his seat at 4:35
r. ~ tho Senate adjourned until 10 morrow.
Prior to the resumption OF debate on the
Silver bill an incidental division took place in
volving q similar question Mr.. Teller moved
to amend one OF tho bills taken up from the
calendar by inserting O provision that in the
case OF property sold By decree OF United States
courts. legal tender notes should In oil cases
be legal payment Mr.. Sherman opposed this.
suggesting that there might be special con-
tracts to pay in gold, but on vote the bill, as
amended BY MI. Teller. was taken up By Is to
~. Messrs. Hill and Hunton voting IL the ma.
iority.. No quorum voting. the matter was laid
aside informally. -
Trouble for the Whisky Men.