Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1892-02-04
MR.. M0RRILL'S SPEECH.

so early, perhaps not any time, il sllVsf
debate had not been opened as it as been,
by the distinguished Junior Senator from
Navade mir. Stewart in an celebrate speech
and also by bill for the free and unlimited
coinage of silver. | fear my remarks may
BIZ ns much of drug to Senators as silver
itself but the great question should nave
some attention and what esteem to be
duty. however ouerous | can not afford to
sLirk.
The financial instrumentalities and none
tnry affairs of our country are or sucn
transcendent Importance, touching not only
the pocket Of every citizen, but the honor
and general welfare of the whos people,
that it must be conceded they deserve to be
discussed as questions Of national gravity,
and not merely as partisan or campaign top
les of local or ephemeral interest. AT my
time Of life can have no other impulse than
a desire to be right aud to speak the truth
as have learned it, but this may compel
me. IN pianest words, to criticize what seem
TO me erroneous and miscellaneous theories,
and to present such facts and arguments as
oppenr TO be conclusive in support OF the
public credit and that sound standard OF
money which will abide forever and IN mar
Iaony with the money OF the most enllsnt-
ened Christian nations.
Permit me to say that l Am now and ever
have been in favor OF maintaining both
gold and silver in circulation and of silver
to the extremist boundary that can be OBJ
tanned on q parity VITA gold. 1t would be
real Joy to me to have silver greatly in
crease III actual value.
did not vote for the silver act of 1870
for the reason that silver bullion was neith-
or to be paid for nor paid out in accordance
with the safer proposal Of Secretary Win
hot tha tn he
fixed, as il appeared to me, at o too masni-
fcept amount; and also that a full price
would be paid for a commodity which we
could neither sell part from to any
considerable extent, without n financial
revolution and serious loss. | was not I'M
Wiling to strain a point in order to satisfy
our silver friends bu5 they appeared to de-
mand too much, and some seemed unlikely
to be long restrained from demanding more
or the whole earth For the first time in
my life | lodged the question, and did not
vote against the bill, not only because my
vote would not have changed the result or
secured anything better, but because my
distinguished frien /, the senior senator from
Nevada DIR. Jones', begged me not to, and
all senators know how irresistible the soma
tor from Nevada can be when he chooses. |
hope now-nnd much regret his absence
to-day-he will be ready to reciprocate, ii
the occasion arises. when | entreat him rot
to vote for free coinage.
However ingenious the legal argument of
the senator from Nevada MR. StewarU may
be Oh the silver statutes, think he will be
apt to find very few able lawyers who will
s-ree with him. The senator donies any
authority of tho government TO sell bonds to
OBTAIN gold with which to redeem legal ten
der United States notes. unless they were
f,rtny I,,,,
OF the law Of 1870 are very general, direct
ing what may be done after January /,
1879, and apply to the unlimited redemp-
ton Of outstanding legal tender notes at
any future time; and whether dated before
or altor. but still outstanding, would not
seem TO be OF the slightest i'm portauce. Sucn
technical criticism only touches the bark
and does not reach the heart Of the law.
The senator surely wants to be understood
= as in favor of the law for keeping silver
d parity with gold, but, like Ensign Steb-
bips, whose memory is perennial, on the
LIQUOR law, he is everlastingly against its ell
forCement
The senator also declares that the treas
ury department discrimInates against silver
in tie payment Of the public debt, but the
sena tor surely has been misiniormod. Ths
USAGE Of the department hes ever been and
il low to pay al creditors alike in checks,
and the holders get them ca4hei and receive
wi HtcVer they demand, whether it be paper
siiyeT, or gold. SILVER bullion, OF course, is
paid Tor % he same manner. Ii ;Aere is
any di-cI .Einatlon it is not 10y any govern
mem department. and god is u, Likely to
be demanded and received by silver bullion
Isis uy any other parties.
relra, tuat ! am unable to assent to the
v-.riusioas Of the leading silver senator
e4,1er on silver laws CT silver policy. Tho
path he points out for the secretary Of the
treasury DO pIrsue-to force silver upon all
government creditors-would lead in a
single day to a silver Standard and prac-
tically accomplish about the same result as
would unlimited SILVER coinage. Il .eviug
that sUch a result would na al almost ia
durable calamity, as do the people in tie
North West and East, republican and
democratic alike, / shal offer some reasons
why the pending measure should here ind
no favor.
Amy reference which may be made by me
to the silver act of 1880 viii be made for
the purpose of showing that Congress then
vent TO tine ultima thule Of the silver legis
letion, and that silver adventures in sea
beyond are extra hazardous Even that
legislation as it now stands, will require
modification, and caunot be accepted ~ the
Sc -tlou policy OF tue country for comin =
generations. Time wl show but before
going further the American people will
want reckoning to find out Just where
they stand, aud whether SILVER is on top or
the people. The policy of an international
compact relative TO silver as sien Ter as the
outlook may appear to some o. our friends,
perhaps may DC our safest refuge and
hope is not to be wholly abandoned, and
cannot believe it will he By the present ad
mlnlstratiou.
National bank notes are rapidly being
made to step down and out 10 gave room to
silver paper. Like Naooth, they had a
vineyard which AAab wanted, and there.
tore were stoned aud killed. The or. kiual
United ) aos notes or greenbacSs, arc
likely to be The next shcriice demanded and
stoned, in order 10 give the whole field to
silver paper.
For many years we have been industri.
ously at.c mp-ins to do something to in
crease the market value of silver and To
make 1t mere truly, at home and abroad,
one Of the precious metals. To this end the
force OF statute laws and the cootiiciency Of
International diplomacy resorted to again