Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-01-02
GOV. HILL AND SILVER.
Senator Stewards Letter Criticising His Po-
sition on That Question.


Senator Stewards Letter Crtticising His Pc
4 sition ON That Question.
Senator Stewart Of Nevada has sent the fol
lowing letter to ex-Gov Hill of New York, criti
cising the latter's position on the silver ques
ton:
II you are in favor Of free bi-metallic coinage
on the ratio now established by law why do or
take pains to repudiate Nevada?
Nevada is and always has been since silve,
was demonetized in favor Of restoring tho white
metal to the place it occupied as money pre-
vious to the passage Of the mint act Of 1873. Nc
representative from that state has ever advo
Gated in either house Of Congress any othe,
doctrine.
In your Elmira speech you advocated free
bi-metallic coinage. In your Albany speech on
New Year eve you advocated the repeal of the
| act Of 1890. which gives the people more money
| by the difference between silver certificates
issued on the coin OF S24 600 900 worth of silver
per annum and the amount Of treasury notes
issued in the purchase Of 81, GOO, 600 ounces of
silver bullion each year. You also propose to
deny to the farmers and planters the benefit of
the enhanced price OF silver, in which the value
of their products is measured, knowing full
well that tho increased demand under the act
OF 1880 over the requirement OF the Bland act
enhances the value of silver.
The lead of Nevada for free coinage seems
odious to you. although the lead OF the cham.
Der Of commerce of New York, a representative
body OF the gold trust, you follow with alacrity.
The gold trust. through the chamber of COM
merce. demands the repeal OF the act of 1890.
You re-echo that demand and advise Mr. Bland
the chairman of tho House committee on coin
age, to obey it. If he will do SO and pretend to
be for free coinage while legislating to limit
the use OF silver You assure him of the respect.
admiration and support Of the democracy OF
New York.
Are YOU aware, Mr.. Hill. that this is the old
story that the people OF the south and west
have been assured ever since silver was re-
jectedas money of the respect and admiration
OF the New ork democracy, if they would CO.
operate with the representatives of the gold
trust in contracting the real money of the
world to gold alone? There is no doubt that
every specuiatOr in Asiatic products who buys
cheap silver in the United States. coins it into
rupees or other Asiatic money and cxchaucesi it
at par in Asia for wheat, cotton and other
products and pockets the difference will ad-
mire and support any western man who will
aid i'll perpetusting this cxtortion. There is no
doubt that every great banker Of New York
who invests and collects on foreign account
and is required by his European patrons to col
lect in dear money, will admire and support
any western man who will betray his constitu-
ents by restricting the use of silver.
Your Elmra speech. stripped of the sugges-
ton OF the employment Of tue cutie fish policy
unbounded gratitude and admiration of the
producers OF wealth in the United States. l
was SO much impressed with your utterances
in favor Of free bi-metallic coinage that pre-
pared letter of congratulation to you and re-
Trained from sending it on account Of the con-
Guiding portion of that speech. wherein you
suggested the ostibility OF obtaining partisan
advantage by non-actIon during the present
session OF Congress, because the President and
a majority of the Senate were republicans and
might share in the popularity sure to follow
the free coinage OF silver. did not at that
time suppose that you were playing part in
harmony with the gold trust and in concert
with the movement inaugurated by the cham
Der of commerce Of New York to repeal the act
of 1890.
MIR. Hill. have you discovered that that act
must inevitably lead to bi-meta llic coinage to
prevent the depreciation OF silver? Do you
know that there are nearly five hundred mil
lions Of silver coin in the United States, ill.,
GLIDING bullion awaiting coinage, and that no
means is provided by law for the redemption
Of the treasury notes issued under the act of
1880, except the gold and silver coin received
for duties and taxes and the silver coin pro-
duced from the bullion acquired under that
acE Has the gold trust ascertained that there
il no possibility under existing law of accumu-
lating sufficient gold to pay the national debt
and redeem the outstanding greenbacks and
legal tender treasury notes issued for the pur-
chase OF silver. without very large use of sill
yer coin for such purposes? Do you see that
the existing law must inevitably force all par
ties to advocate free bi-metallic coinagei Ii
you do not Understand the situation the gold
contracuonlsts do. In order to prevent the
passage OF q free coinage act they propose the
repeal of the law Of 1880
am sorry, if you are really in favor of free
bl-metaillc coinage, as declared in your Elmira
speech, that you have fallen into the trap set by
the gold trust and are now willing to aid Them in