New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-11
IN THE POLITICAL FIELD.
w. BOURKE COCKkAN'S BITNDER.
EX.CoNGRES.AIAN MASON EXPOSES THE TAN'
MANY ORATORS MISTAKE ABofT


w. RDJRkE tOtklAN'S BIZ NDIh'
Ex.coNGnEs:AAN MASON EXPOSES THE TAM
MANY ORATORS MISTAKE ADo'T
THE SILVER CURRENCY.
Ex.Congressman William F. Mason OF lhinoi'' W." '
Ia doing eRective work for Harrison anu r'o~ "
city. under the auspices of the camP''s" .s,
Of the Republican Cub. APPLY controV"r'eu ''a'''D'
w. Bourkc Cockran's position on "wlidcat c"i'"''
in lis speech at Tammany Hall on fr.o"H "'s ',
In alluding 10 Mr.. COckIan's effort MI Nas'" '
al was pleased TO see Mr. Cochran take ISSUE Win
fhe chairman who said that this was 10 nc oap'ie
10 educate the people. Mr.. Cochran s"u "''' '''
great mission for the elecio OF TO-DAY Is u c""o''
the Politicians and. having perfect 'o"h"cn.V !"
Mr. C,ckran's honesty, know that he could not
hoe. mad. The statement he did last night In regard
>, tho sherman bill IL he had ever read the DILL vi
knew Of It's operation. l quote from MS speeo" ae
published in this mornings World as iolowa "A
wildcat currency Don't we nave IL 'OuN anu
we have got It resdlt Of Republican icelNiauoh'
We have today what is known as the sherman silver
law Under that law the Government Is compelled
10 purcbase fifty fonr million ounces OF silver every
vear With this purchase Of silver notes are lsSued
agrdnst II. Now, the silver that enters INTO all
ordinary silver dollar Is worth 90 cents IN the open
market, SO that the only security when the Govern
Inent possesses TO redeem these coin notes issued
Is worth today just exactly 60 cents.
My cd colleague is entirely mistaken, and l
respectfully suggest TO him tie Application Of his
opening remark to educate the politicians. thoer
the sherman law purchase, a. he SAYS, fonr ana
a half million ouLces of silver per month OK hiN-
four million ounces OF silver per year. but the tow
ernment does not Issue the Treasury notes for MY
four millions Of dollars. but issues notes elual Ill
value 10 what they pay for the silver III the open
market ana he f. in error wlCn he says thai th"e
is opy 80 cents worth % silver back OF each dOlh'r
OF these notes. As a matter Of fact, for every one
Of the Treasury notes issued for silver there Is
dollars worth OF silver bullion held by the treasurer
Of the United states. which secures the H'NerhHe''
and the Government in turn secures the holder ol
tile note. III other words, there is a dolal : worth
OF silver at the market price OF silver for every dof
of notes issued under the sherman bill, ana II you
present 10 the Treasurer of the United states one
Of these dollar notes. you can receive gou LOT I''
II makes no difference TO the Government what IiVy
pay out for the note by WAY Of redemption as thry
have OF actual value one hundred cents worth 81
silver for every dollar such pOtcs a they issue
Il fear MIR. Cochran Il not familiar VITA inc ~
tory of wildcat banks IN This country. or ne WCii
NOT thus lightly compare Uncle San note, log when
ne Is secured with the wildcat bank currency when
was ended BY the 10 per cent tax, ana now pro
1osed by the Democratic party to bc circulated again
Especially when he stops 10 consider tihl We ho'e'
issued BY Uncle Sam circulating medium are
worth their face In gold less exchange, In any
country In the world. / have the greatest respect
for Mr.. Cockran's ability and Integrity, but he has
made great blunder, and he Ought 10 correct IT,