Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1892-01-14

YER cannot be remonetzed gold will be de
monetiaed and paper substituted Tor both
gold and silver. The people will not be de-
stroyed for want of money. The gold trust,
by rejecting one OF the precious metals, has
| taught how both may bo re icctcd. The redi
calsm for contraction is N danger of being
met 10y q radcai,nl Tor inlloton.'
Tho impurtanc, of this rather clustering
threat Will he apparent when it is remem-
oer"d that the first paper money party which
| proposed to pay the public debt in paper
left neither heirs nor estate to perpetuato
| its brood or ITS lunatic memory. Its quack-
cry is also 'nade onspicuous by the assump
| ton ot supreme power to do whatever of
harm or mischief they CHOOSE, and by tho
declared purpose, If they cannot have silver
they will not have gold but will jump to
non metallic money and initiate the country
with himsy flood OF unredeemable paper
| money. If The bad is not to be had, then,
| copying from Mltons satan, 'evil be thou
| my good, they propose TO have the worst.
If they cannot have the measles the they
will have tho smallpox; nld if they cannot
60 to purgatory they Will go to hades
1t appear, to him that Unlimited coinage
Of silver by the United States alone was
pregnant with the exile of gold and dire
financial calamites. As the experience of
all the loading nations had demonstrated,
gold was the most potential monetary in
strumeutGlity yot discovered by man.
Without gold to uphold such money as was
now in circulation, American industries,
commerce and character wo1d all be sure
to suffer sad decadence, and the republic
itself would drop from the elevated rank it
now held among nations.
Mr.. Teller said the senator from Ver-
mont, as well as the president Of tho United
States in his annual message, treated the
silver act of July II, 1890, as the work of hi
metalists in Congress- lie (relep denied
that association. The bill was the product
of a committee deadly hostile to bl-metal-
ism. He Teller had stated when that bill
was under discussion that il was not accept
able to the silver people. IL disaster came
las it would come if that policy was per
sisted I'M it would have to be laid at tho
door of the men who had for II years
steadily resisted the general public demand
for the use Of silver on equal terms with
gold.
Mr.. Stewart said how wa. the United
States to getsEurope to unlock her Golfers
and to send her gel here but it was only
another makeshift. another method by
which the inevitable Should be delayed
when by law the two metals would he put
lutely abandoned except Tor subsiliar coin.
What the silver men wanted was to have
the two metals tied together by law so that
they would be on an equality at a ratio to
be established.
Mr.. Teller said the presid Mt had sent a
New York banker (Mr. Seligman to Berlin
in connection with the silver question. He
Mr.. Teller supposed that that was de-
lightful way of giving somebody trip to
Europe at the expense of the government
he CTeller) could name 20 men in public life
who could have gone to Europe and made
report that would have been OF vnue,
but no such report would he got from bank
ers or mono-metalists, a certain public
man, Mr.. Teller continued, who had not
yet taken his seat in the Senate, (,neaning
Mr.. Hill OF New York. had an
uounced that tho act of July,
1890, had to be repealed but lie
TELLER asserted that it would not he re-
peaed There was no considerable number
of public men III the country who would
dare to repeal it, In 10 years there would
be thousand millions Of silver it the cot
fers of the government The act of 1890
treated that silver a, n commodity. 1t de-
graded it and hold it IN subsection to gold
BY and by the people Of the United
amount of silver in the treasury
should not be deprecated or sold at less
than 1873 per ounce. When there was an
undue amount OF silver the country would
come to a silver basis and if ever it did so
1t would be drought the act of 1890 lie
would rather the country on a silver
basis than on gold basis, Tor silver met the
wants OF the people. Mr.. Teller urged the
passage Of free coinage bill in the hope
that it would bring the world to the Amer
lean policy or else would lead to an interna-
tional agreement
Mr.. Dolph had read an extract from a
speech OF Mr.. Stewards to the effect that
the purchase by the government of four and
half million ounces OF silver per month
would use all the silver produced in the
United States and would put up the price
OF silver to par.
Mr.. Stewart admitted that his prophecy
had failed, but pleaded that the conditions
had changed and that it had proved conclu-
sively that nothing would do but free coin
age
No action was taken on the bill and after
short executive session the Senate out Of
respect to the memory of the late Represcn-
tative Gamble Of South Dakota, adjourned
till tomorrow