New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-13
SENATOR SHERMAN DISCUSSES SILVER.
Mr.. HILLS COURSE DIsAPpROVED-IhE oiiIo
STATESMAN VINDICATES IlMsELF-IHt
A

STATESMAN vINDICATEs nIMsELF-THE
PROSPECT FOR REPEAL AT
THE NEXT SESSION.
From an Interview Photographed to The Cihcih'au
Enquirer ,.,..,
one. iiI st. he put Mr. cleveland in hole in forcing
to that which knew and ne shouIG M 1,',,
known could not prevail Eut IN one stnsr mr. Ian
did the friends OF repeal great injustice thonsnt;
ana Mr.. Morrill, thought that when MI I'M de n
repeal the law. thu, his motive was direct Instead
however. he uncovered himself rs being d"s9io 10,
10 sneh as desire tie free coinage Of silver When
he made such declaration he drove away M y,
notably Mr.. Mcmillan. Mr.. Cullom aud othcr,; Mhe H.
In his speech, Mr. lin declared for rei cGina oG DE
Wa promptly asked al what parity to when ne naue
no reply The fact Is. tina, If free conase sholi I'M
fortunately come with parity of sX@en ,n T. .T TI
this country in five months would be On tmr st, a
standard Of silver Thi' would mean return % v c
securities from abroad and The depreciation oil every
railroad and stock Of investment ,
Il will make In few day. speech on n imT If
question Of witch can give h r y"" TIE law became
necessity. The House Of Representatives "d pa 900
bin providing for the mon.y n cG%%sg adopted
substitute providing for the free G onae :" me
thrown into Conference c"a','', n ID
OF which minority member for Harris anu
Jones my colleague d Gh v?'SG i ,c ' oSe plan
for TIE coinage of 400 900 silver dollars m2ntnN' on
issne ,,non the bullion value certificates. In such
the Government made the prom %nhind
certificate so issued was its own fund Of redemption
This caught the free silver advocates at least MI
Mr Iones rawcver. dcmandec that such certificates
should have legal tender value ana asrtG
Ss1fS:s + &c :ss s5l% @ % ss a%
boa DO my yoa nk sHS E h9 will
at a .9ss Seh he "aid, IL do not
Do Won then, look for an extra session -,
n.
he can avoid calling one. have made up my lind
expect an extra new Se GaG~ aad be- @ ccmoa6c as
! / can while it Is being held
xh nat 3ss p s SRSs q lS
firm ground Mr. Cleveland has aken for honest Tim, me cy
w MIL Sy the ns PSrH in nc conge have sns
e: ten % ,aF FoS ss after s Of
be %ss to sT ssn ' sSna a" al hs
merely take the places q Re pniicans who NOW favor
the ,sgss f 81 the the law g. " not REPEALED
at IS matter Of anticipation SIN my ~ } tha NEXT
.s ses % nSo1 pa snte SanS"s The viii
toKaYe the States d. banking buSlmrI H @a~ crc
ainR notes Th would be condition to nnSei d;
values for who can tell what would DE 'he value VI
STATE SSd Son rG% n Ss SsS 70 Kat s
compromlsc this silver middle on 'he ''9'' VI
VI" hone not he answered al think the Bland
law is much more harmful than The cYl,lm nS,ch T
rord because the value of redemption j. onn nno nr
The Bland law is compulsory TO com % Issued
4oCo 900 silver dollars each month whicn are en- fnc,
at The mntage value for dollar but WIZ a" t
have only a bullion valne OF less l.an ~ nrodt
Under the present law the Government sr,S Ihs
between the mIntage and bullion value, Int II Is u
reserve fund for redemption. ,, .crnnoeo
a. LOT me ask Won this question" ! sad. nupito, n
tho nresant silver law Is repealed without ri ir
xrouid the Government then have the p'weI W oi,
silver dollar Would it not be restricted 10 ih'ie'
the subsidiary coinage OF silver . sr-orod . but
I. II would h.. s., restricted" he answered. sa
frop, 1919 I'M TO the passage OF the Ia" Pro>iui"7
Tor The trade dollar suCh was tie case. -, a,,,ors
~ And s n or NOT a fact that under such r"i''.l""
the repeal of the SILVER purchasing act ~ouii oei"
p" az would not operat- to expand 1t" he r"pWa'
"Wbat in your Judgment asked ""oud oe
,be effect az free coinage in this country :! A., .,o
INV Most disastrous" said he: "for tHe IhpIS
would he an artificial momentum Nanee W" NJ
20 mn hut the purchasing power would reiian "" ~,
same Under such a state Of affairs every man 10
rat even would need TO add one half yard 10 ~. u.'
ysrs,irk The reaction would however ne iel,.
srhose who would suffer the most would DO he y, o
and wage class These would find that WHO H ,
had appreciated the power of money to buy para tel
a. wages had not kept pace with the lhcfe'cr W
the price OF necessities they had 10 cuN., Esu;
roilroad IN America would feel the balciui ene','
and 10 meet II would be compelled To advance rates
And vet the states in many instances regulate p,s-
senger tolls on the hand ana the Interstate conf
rercn law affects them on the other. Kaifoad am
au classes of securities would 60 down.