The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-05-06


pended b. minor coins in 1>5S and which was
| issued only in later years, as convenient form
| IN which 10 export silver and the whole amount
OF which from the beginning Of the government
| TO the passage Of the act referred to was only
| 100000. This silver dollar was. upon the pc
| ution OF the legislature of California and upon
the motion of her senators and unanimous vote
Of both houses of congress, without objection
from anyone, dropped from our coinage and In
It's place substituted the trade dollar containing
few more grains of silver. A few days after
| wards, silver having fallen rapidly in market
prices, congress restored the coinage of the sill
| yer dollar, limiting the amount 10 not exceed
| ing 100000 nor less than g, 900 900 month,
and under this law In a period of twelve
| years we issued over 4O0,000OOO silver dollars,
nifty times the amount which had been coined
prior to 1873. And now under existing law we are
purchasing 81, 10000 ounces Of silver year; so
that what she calls the characterization of silver
has resulted In Its use in our country to an eX-
tent more than fifty-fold greater than before its
characterization In spite OF and growing out of
the increased supply Of silver and the cheaper
ing process OF Its production, II Is going down
in the market and is only maintained at par
with gold by the fat OF the different govern
ments coming It. Now the deluded people be-
longing TO the class of Mrs. Emery are seeking
TO cheaper the purchasing power of the dollar
in the hands Of the farmer and laborer by the
free coinage of silver and the demonstration Of
gold Silver and gold should be used and main
tanned as current money, but only on par with
each other and this can only be done by treat
ing the cheaper metal as subsidiary and coming
1t only as demanded by the use Of the people.
The seventh financial conspiracy" Is the
pride and boast Of the government OF the
United States, the restoration Of our notes
long after the war was over to the standard OF
coin in other words, the resumption OF specie
payments. This measure, which has met the
violent opposition of such wild theorists as Mrs.
Emery, has demonstrated its success In the
Judgment OF all intelligent people, not only in
the United States but in all the countries Of
the world. There is no standard for paper
money except coin The United States post
poned too long the restoration of its notes TO
coin standards. Since IL had the courage to do
this under the resumption act, on the first day
OF January, 1872 we have had in the United
States a standard of gold with coins of silver.
nickel and copper maintained at that standard
by the fiat OF the government, and paper
money in various forms, as United States
notes, national bank notes, gold certificates,
silver certificates and treasury notes all at par
with gold To call this conspiracy" or an
Infamous plot" is misnomer of terms which
will not deceive any intelligent man but 1t IS
rather the glory and pride of the United States
that II not only has been able in the past thirty
years to put down great rebellion and to
abolish slavery, but to advance the credit Of
the United States to the highest ran. among
nations, largely increase the currencr of the
country, to add enormously 20 lis productive
interests and 10 develop the r5s0Irc's of the
mine, the field and the workSlor % ! degree
unexampled in the history Of M nrS Intelli-
gent people who reason and obs rye will not be
deceived or misled by the will fan lticism and
the gloomy proph ecieS Cf Mrs. Emery. Tenn
pOrary conditions growing ont of the fall
ure of any portion of our c-o)s will not dis
courage them; the eXagyerltOTs of the morbid
fancy will not mslead them \ candid exami-
nation of the great tiHlHciai - i5ures of the
last thirty years will lie vi pe)ol ) place what
Mrs Emery calls 1.-THE seven financial conspira-
cies" as the seven great, wise and statesman
like steps which have led the people Of the
United States through perils and dangers rare
Is encountered bv any nation, from feeble con-
federacy with 100000 OF slaves and discordant
theories of constitutional power, to great,
free republic made stronger by the dangers it
has passed, a model and guide for the nations
of the world
As for Mrs. Emery's criticisms upon me per-
Sonally, do not even deem them worthy of an |
s%er. She repeats the old story that was in
terested in the First National bank of New
York and gave it the free use of the peoples |
money, a plain lie, contradicted and disproved |
over and over again 7 never had the slightest !
interest in the bank. direct or indirect, and, as
the public records will shnw, gave no favOrs but
treated it like all other repositories OF public |
money and held il to the most rigid account |
ability. nor have / in any case derived the |
slightest pecuniary benefit from any measure |
either pending in or before congress since 1 have
been in public life. Very truly yours,
JOHN SHERMAN.