New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-30
SENATOR JONES ON SILVER.
HE SAYS THAT IF THE SHERMAN La" Is NE
PEALED UNCOND1TIONALLY A NEW
p,pTy WILL DE FORMED.


PEALED UNCONDlT1ONALLY NE"
PARTY WILL DE FORMED.
The blow which the action In regard to silver IN
1T, NO.. ctvon IN the white metal interests In this
ouu,rr has not daunted Senator John i. jones' o'
Nevada who has been for years one OF inc ch'ei
advocates OF bi-metnllism and who was one VI INV
delegates from the United states 10 me nr"sS.,H
Monetary Conference. senator JONES sun ,
TINT the coinage OF silver Is the only re''ei i,o"
hard times. and he says that the silver men !" W.
gross will vigorously oppose the repeal OF the sher
man oct The repeal OF this act without SUBSTITUTE
LEGISLATION he says will bring about Poiuo"'
revolution and result In the nomination Oh '.n.
Marty candidate for President In looO upon rc'
coinage platform. .
senator Jones expressed these opihions !"
Tr,bune reporter who called upon him at the "fanu
uotc, Yesterday afternoon. suppose a number OF
ncoplc are sitting in a room" said he lone "ihoo"
OF which Is open little way. They all agree ''H''
,be air IS close Now suppose some one should
suggest as remedy that the window be cios'''
That is precisely the sort Of remedy which the anu
silver men propose for the present financial strin
cency They say stop coming silver IN DINER
words shut of the only means OF relief
The stopping OF free coinage OF silver In lndla
has been brought about by the British capitalists
whSee interests 1t is 10 Increase the value VI '.'''
holdings by limiting the supply OF money just
what the permanent effect upon the silver marhe'
u-l no
Indian Government with respect TO buying ana
oo,r,nc ,lvcr is known. India might still coin
silver though the standard should be gold. In mat
case the market price Of silver would probably mol
be permanently decreased very much.
DO YOU expect that the sherman act VIII D.
repealed - was asked.
No l Go not expect IT, for know that the silver
men will fight vigorously against us repeal Inc
silver men Will only consent 10 the repeal OF inc
sherman act In case substitute legislation
favorable to silver be provided such legislation 10
he embodied in the measure which repcas the sherman
act"
What substitute legislation would you iavori
Free copaee is the only substitute have TO ohcr
free coinage nj the present ratio II possible iFcc
coinage with a change Of ratio II necessary would
not advocate that the ratio be made 20 70 ]. but
would accept such an arrangement. thihR Il
ratio OF 20 10 could be permanently maintained.
"suppose Congress repsals the sherman act without
providing substitute legislation, what them
at will be the signal for the breaking up Of parties
and the formation OF new ones. am not one OF
those who believe IN sitting down ana saying. well
let them try It, and ret the full effect OF It, Who
would get the full r,ct Of IT. The money lender.
and id.ers who live their incomes. They would
enormously Increased by an unearncd increment at
the expense OF the debtors and produce s. iii,
DO you think that the silver men generally VIII
break with parties on this question In case
The sherman ac, i. Internationally r,prale117
les, haven't " uoupl IT, n'Pu"
lcans and Democrats. There will be- the biggest
row which the country has seen lately. distinct
nifd party Will be formed, with practically only
one plank In It's platform. Candidates will he nom
mated for Congress anI for Pref lent. and campaign
of education will be begun There VIII be an organ
izaiIOn formed in every state
What would be the chances OF success!
"Well, should carry pretty nearly all the state
west the Mississippi River and some OF the southern
states / think. Ne might not elect our cdn1:cn,'
for President or get ma jo!ity In Congress buy We
would nave a chance 10 present the question larry
ana sauarely TO the people
Senator Jones said that he intended TO communicate
win tho other silver Immediately ana form n
plan OF opposition TO the repeal Of the sherman act