The silver state. [volume] (Unionville, Nev.) 1870-1903, 1892-09-15

L
proposition as to the object of the
demonetization of silver, | wish to
read an extract from the report Of the
French monetary commission, pub
ished in 1869. In their resume of
the question it is said:
1t is difficult to estimate exactly what
diminution is going on in the value of silver,
| but whatever it may be it demands the at
tention OF Governments, because
What? Because the relative value
of silver with gold is depreciating? Z?
/ Not at all
because it affects unfavorably all that por-
ton of the population whose income, re-
manning nominally the same, undergoes a
yearly diminution of purchasing power
England, the greatest bond hold
ing nation upon the earth, demone-
tized silver in 1916, just four years
before she passed her celebrated re-
/ sumption act; Germany in 1871, and
completed it in 1873, Norway, Den
mark and Sweden in 1871 and 1872
and the United States in 1878, and
completed it in 1874, just prior to the
passage of the resumption act.
wish to speak further as to the
design abroad and in this country.
Ernest Seyd in his book, ''The Fall
in the Price of Silver" published in
1876, estimates the amount of silver
in the world as about three and one
quarter billions. and the. amount of
gold three and one-half billions, and
he further estimates that England
has an annual income from other
nations of $3.50, 200, 600. 1t can readily
be seen why England, who holds the
bonds OF other nations, should want
those bonds payable in a single
metal, or dearest money. The money
dealers of Germany, England and
the United States, own the bulk of
the funded debt of the world, which
now amounts to about thirty-two
thousand millions, mostly contracted
in flush times.
Capitalists readily saw that if they
could strike down as legal-tender
money one-half OF the metal money
of the earth and make this enormous
funded debt payable in gold alone, it
would be greatly to their advantage.
The people should thoroughly under
stand this also. They are beginning
to understand it, and are everywhere
and almost unanimously demanding
that silver shall be thoroughly re-
instated. Thus we are brought face
TO face with the great fact that de-
monetization was the result of great
international conspiracy, inaugurated
by men who had fixed incomes as
against, and to the detriment of those
who own the great bulk of the
property of the world.
Now, / wish to speak as to the
specific intent in this country. 1t is
well known that the bonds OF this
country, 800, 900 900 of them, were
originally payable in currency. That
was the opinion of Senator Morton,
of Senator Sprague, and of score of
others who might be named, and it
can be plainly read upon the face of
the bond. To get rid of that inter-
probation of the law which gave the
people. the right to pay the bonds in
greenbacks, in legal-tender paper
money, the law of 1869, strengthen
ing the public credit" was passed.
That law took away from the people
the right TO pay the bonds in currency
and conferred upon the holder of
public securities the right to demand
coin. But, as said before, the silver
product of the world was rapidly in
creasing, and it being the intention
of those who manipulated and
fastened upon this country this enor-
nous public debt that it should be
made permanent
Mr.. Mitchell-W i'll the gentleman
yield to me for question?
Mr.. Weaver-Yes, sir.
Mr.. MITCHELL desire to ask
whether the gentleman, at the time
he speaks of, in the year 1869, was n
republican, and whether he voted for
General Grant as president
Mr.. Weaver did.
Mr.. Mitchell-Was the gentleman
aware that the public credit act of
1869 simply put in the form of law
what was put in the platform on
which General Grant was nominated?
Mr.. Weaver do not SO under
stand it. And as to my connection
with the republican party at that
time, was in the same situation
then that the gentleman and many
of his friends seem to be in now.
knew nothing about this question.
| had never investigated it. | was in
the same condition with Saul of
Tersus when on his way to Damascus.
But | have gathered some light since
then, and | stand here frankly and
nlainlv to saw having investigated