Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-02
STEWART TO HILL.

Senator's Queer Speeches-Some Sar-
castle Questions and Anusions-The
Siiverite Says David Has Been GulIed by
the Gold Trust.
WASHINGTON, Jan. 1.-Open letter from
Senator Stewart to Senator Hill:
UNITED STATES SENATE,
WASHINGTON, D. c., Jan. 2, 1892.
Hon. ID. B. Hill;
My DEAR SRI you are in favor of free
bi-metallic coinage on the ratio now estab-
lished by law, why do you take pains to
repudiate Nevada? Nevada il and always
has been since silver was demonetized, i'll
favor of restoring the white metal to the
place it occupied as money previous to
the passage of the mint act of
1873 No representative from that
State has ever advocated in either
House OF Congress any other doctrine. In
your Elmira speech you advocated free
bi-metallic coinage. In your Albany speech
on New Years eve you advocate the repeal
OF the act of 1890, which gives the people
more money by the difference between silver
certificates issued on the coin of $24,GOJOoO
worth OF silver per annum and the amount
OF Treasury notes issued in the purchase of
54 COO ounces of silver bullion each year.
1ou also propose to deny to the farmers and
planters the benefit of an enhanced price OF
silver in which the value of their products
is measured, knowing full well that the ill.,
creased demand under the act of 1890 over
the requirements of the Bland act enhances
the value of silver.
Hill With the Gold Trust.
The lead of Nevada for free coinage seems
odious to you, although the lead OF the
Chamber of Commerce of New York, repre-
sc ntatiye body of the Gold Trust, you follow
with alacrity. The Gold Trust, through the
Chamber of Commerce, demands the repeal
of the act of 1890. You re-echo that de-
mand, and advise Mr.. Bland, Chairman of
the House Committee on Coinage, 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 West and
the South have been assured ever since
silver was rejected as money of the respect
and admiration of the New York Democracy
II they would cooperate with the represent
atives of the gold trust in contracting the
real money of the world to gold alone.
There is no doubt that every specuiator in
Asatic products who buys cheap silver in
the United States, coins it into rupees or
other Asiatic money, and exchanges it at
par in Asia for wheat, cotton and other
Asiatic products and pockets the difference
who will aid in perpetuatipg this extortion.
There is no doubt that every great banker of
New York, who invests and collects on for
eign account. and is required by his Euro
pean patrons to collect in dear money, will
admire and support any Western man who
will betray his constituents by restricting
the use of silver.
Soma Western Sarcasm.
Your Elmira speech in favor of free
coinage, stripped of the suggestion of the
employment of cutie fish policy to deceive
the people, would have met with unbounded
gratitude and admiration of the producers
of wealth in the United States. 1 was so
much impressed with your utterances in
favor of free bimetallic coinage that pre-
pared letter OF congratuls tion to you but
refralned from sending it on account of the
concluding portion of that speech wherein
you suggested the possibility OF obtaining a
partisan advantage by non-actiOn during
the present session of Congress, because the
President and maj jority Of the Senate were
Republicans and might share in the popu-
larity sure to follow the free coinage OF sill
yer.
did not, at that time, suppose you were
playing a part in harmony with the Gold
Trust and in concert with the movement
by the Chamber OF Commerce
of New York to repeal the act of 1899. Have
YOU discovered that that act must newt
ably lead to bi-metallic coinage to prevent
the depreciation of silver? Do you know
coin in the United States including bullion.
awaiting coinage. and that no means is pro-
vided by law for the redemption of the
treasury notes issued under the act of 1850
except the gold and silver coin received for
duties and taxes, and the silver coin pro-
duced from the bullion acquired under that
is no possibility under existing laws of ac-
cumulatinS sufficient gold to pay the ma
tional debt and redeem the outstanding
greenbacks and the legal tender treasury
nfoG ell
out very large use of silver coin for such
purposes? Do you see that the existing law
must inevitably force all parties to toadvocate
free bi-metallic coinage? If you do not un:
contradiction1Sts do In order to prevent
the passage of a free coinage act they pro-
pose the repeal of the law of 1890.
Why Stewart Is Sorry.
am sorry, if you are really in favor of
free bi-metalc 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 their efforts to confine
the real money of the world to gold alone.
If the Democracy of the South and West
adopt your policy and make retrograte
the present session of Congress
the people will place very little confidence
in promises to restore free coinage, when
your party shall have obtained control of
every department of the Government and
those who are for free bi-metallic coinage on
the ratio esta blished by law are for it now
and at all time Those who are against it,
advise the people that they must wait for a
more favorable opportunity.
Let me assure you, my dear sir, that the
restoration of silver to its place rs money
has been delayed for more than 10 years by
excuses, many of which were more plausible
than those you present, and that the people
have come to the conclusion that persons
who are good for making excuses are worth
less advocates of free coinage.
YnnlS rac1,nntf1llr