New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-03
WAITE WANTS MORE BLOOD


~ unnar,lcIed distress and In the shadow Of mehuhs
ealamitics which beyond estimate. me pun
dustry Of the people who inhab!t one-thrd Oh 'o 800
NJ tb Republic las been stricken down, property 'lu
DESTROYED and the workmen compelled TO ny 49,
pcstlence Everywhere over this broad iain ''S ,n,
,oers numbering hunireis Of thousands nave 80
thrown out OF employment and viii have I, cav VIC
bread OF charity or stsrye; the produ; OF houS'',
farm and the work hop nave deprccte in prize rs so
by official and published statistics until P a.,
ceases to be profitable the money OF INC cou',' .,
adequate for the business OF the LAM, has sfaN s
the banks while people, di'trusting the o"""' ,,
demanded their deposits to hoa.i hide them mer'".'
houses arc going To the wall ~ thousands o'0" =,
masses have the means ~ buy even tne he'e' 49,
life. TO supply the lack Of currency t"e oa"N'
,ro,t cities have issued a substitute for money u"A
. H. lavs called clearing house certificates; inc "o'e
mont OF the great crops. being satnertl' uehia
vast amount OF currency whch inc o'"h' az 49, ,,ux
furnish and in the midst OF these 'o'u'o'' r, -
ur IS are canong for the repeal Il The act oil jug -,
,soo called the Sherman although the repeai VI ~
act mean. the stoplage Of the issue OF more ina s
600 OF money every month, thus ,nu''''s WI w :,
of funls for the bushes. Of the country III '''' me-,
ab terrible conditions which surround US anu 'sns
-, D., ,h, IN hold the balance level between the deptor
ani creditor classes the supply OF currency ""e' al
crease side by side With the Increase Of popu.'o,
h,.in.... and ln this Nation the grown oil p'p"'"
Is at the rate Of about 80 per cent every 'e" 'e ~
the Increase Of business /, much gic'trf' ,
wha,eos rh. great cNpoundrr Of the CohSVi.'o"'
Daniel Webster. said: "''old ana SILVER al f''' 49,,
Conate.s constitute the legal standard VI Na'"o " w.
country and neither Congress nor any state ma '"'o'
70 establish any other sahualu' vi W "'P
uId' and, .,, ,,t. r,.r
Wbcrea, The Hon James y. Blaine quo'''s W., ,'o
ance adds: '.On mueh-yeAed and long i"o'e' s
. =, h,m.t,llle standard NV own views are sun 'ivn.'
indicated in tho remarks ] have haue' "'
,,,gl o ooing ON In this country and In OtheF eoup
,rl.. toy I, single gold standard would, II surce'Sui'
produce widespread disaster In ana Throughout ~ .
er.l,l world The destruction of silver as money e''
~ nal
ruinous effect on all forms OF property eN''P' ''' "
,e,tments which Weld hNod return IA monty,
would be enormously enhanced In value ond "o"i' s
aforementioned and unsir advantage over every othe'
.pece, OF property. H. a the most feliaoe s'' ''
.nirn there are nearly billions OF com OF puo
| in the world very unequslly divided between so ~
silver IL is impossible 70 strike SILVER OUT Vi oN'''
money without results which Will prove as'fe's
millions and utterly d-as,lou, TO tens OF tnou''"
,in no aid. 81 believe gold and silver com 10 O'
rho money Of the Consttution-indecd the money Oh Tue
American people. anterior to the 'on'''"Vo', " e..
own existence. 40 power was conferred OF O'"s'7'
declare that cther metal should not be mo eS' 'o"".
has therefore in my Judgment power T. demoheuHe
both H. therefore silver has been deniohetiIed a."
in favor OF rtmoneuLng II. II Its coinage mas "c
prohibited am in iayor of orderrg IL 10 DC 'e'""'
| I am in favor Of having il enlarged
wberc,s The pesent Secreay Of the Trolury, tn Hon
John g. Carlisle on foo OF the House OF hep''
scntatiyes teiruary 81. 1878, said; Il Aho" 'hd' INV
precious metals II none t'o i"lS' NJ"
see no reason N splIeheni that 10 Will ever beom 80
Mankind will he fortunate indeed. the annual pro-
ductlon Of gold and silver coin shall Keep lac" WIN -.
annual increase Of population commerce AMI industry
.Accordne to my Of the subject the conspiracy
which seems to bee1 formed here ana IN Euoie %
douov by legislation ana o7rwisc from thee'seNenths
To onc.haf Of the metallic money ri the WORM J. '"c
gigantic crime Of this or any other age me '"'
nation OF -u,h scheme would ultimately e'a' "''7 ''
ul,n the huns, than all n" wars NtIlen'es a.
canine. TIA, ever occurred history OF the world
The absolute and instantaneous destruction "' h'' ''e
entire movable property Of tho world in'uing houses
ships railroads AID ali other sppl snceS 10 Carrying Oh
commerce while it would he felt more scnsbiy at the
moment would not produce anything Ike the prolonged
distress and disoresnii1on Of socsty mat must IN
eyitsbly result tom the permanent annhihu' ~ e"s
metallic money in tho word' and
where's senator John sherman, n Ohio who more than
any other responsible for the decentralization Of
silver clearly understood the evil consequences Of shrink
Ing currency tho legitimate demand II the business
~ the country evidenced by what he said in the Senate
In 1850 wit
Tho contraction q, the currency dis
tressinc operation Senators suppose Our own and
other nations have gone through that operation before
II possible that without the sores'
To every person except caDtaE't out ~ dent
or .alarlcd oacer snnuitant. u IL period Of loss
danger lsstude o trade fall Of wages. suspensions Of
enterprise bankruptcy ard disaster IL means ruin of
oil debts twice their business capital
though Onchird than their actual property II means
the fall Of agricultural production without any great re-
duction u taxes What prudent man would dare build
house railroad. factory or barn with this certain
fact before him ~
Therefore in view OF all these facts. declare,
That there must be no compromise OF this question
All lcg dcmonezns silver and restricting the coin
age thereof he Immediately and completely repealed
hy an the coinage Of the country - the condi
tons established By founders OF the Nation. and
witch contnuci for eighty years without complaint
from any part Of our people Every hours delay IN IN
doing the corrupt Of Ernest seyd and our foreign
tho AiOpify NJ tha
crushing burden their prosperity. and an attempt TO
place again under the yoke from which Gcorge Wash
ngton his compatrots rescued u.s. We protest against
the financial policy Of the United State, being made de-
rendent upon opinion policies Of any foreign
eminent and the power Of this Nation stand
It's feet and lezsate for Itself upon ell subjects
? We assert that the only remedy for metallic
financial troubles 70 open OF the Nation to
gold silver equal terms at the old ratio Of 10 Of
silver ] Of gold. Whenever silver bullion be eX.
changed minis for lecaltcner silver dollars worth
100 cents 4l2 grains Of standard silver Will
be woh 100 cents and equalizcs the prices
OF all commodities throughout the world whenever i129
grains Of standard silver worth 100 the United
they will be worth that sum everywhere else and
cannot bought for less While IL will he urged that
such result would the price Of silver bullion 1t
sufficient To know that similar rise would be i'm
medatcy made in tho price OF every kind Of property
cept gold and credits In The civilized world 1t would be
shallow senshncss that would deny prosperity to the
mining industries at the OF bankruptcy 10 the whole
pepplc The legislation to demoncte silver has gvea an
unjust the value Of gold at the cost Of the pros
rerty OF mankind wheat and all other agricultural
products that have ridden eide by side with silver.
g. That while the Sherman act Of July "A, 1890, wa
device Of the enemy prevent the restoration Of fee
and Is greatly Objectionable because IL continues
the practical exclusion OF silver from the minis and
reuces IL from money neal 10 commercial commodity
nevertheless lie repeal without the restoration Of free
coinage would stop the expansion Of currency required
by growth In population aad business, widen still
further the differences between the precious metals
thus making the return n bmetalllsm difficult;
greatly Increase the purchasing power OF gold still
further breaking down the price the products
farmer abore mechanics and the tradcsman, pune
still further all commerce, business and Industry iato
such depths OF wretchedness endanger peace the
Of free institutions very msntenan