The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-31

yolved In at the last election. You Rehsie o
for the remedy. trust in God you will ex-
i ls@ is't mss's iSS%
pI9p9sitoIs that are being ms6 ceun nfas and
sdd d fSTD nae si
we are now suffering from. The President, IN
the midst Of the panic appeals to us to reIe 20
eay but 6 6ser we t ssP pa this
cali. We ought to. suspend the purchase Of
silver bullion But the strange spe consiSas
saIs thSSs for ne
s snd who wS SiSs t tSs rts,s ri BODY 81 tho
Il and sa TlG IT, refuse
4. and cling to y as the ARK O. SAFETY. anS
one to deieat the Tree coinage Of silver on the
ratio Of - to and | think that in that At re re-
country. will vote Tor the repeal Of the law
because believe that the purchase OF SILVER Il
and SnSss S5 iha hf
silver would gladly advance It to a PARITY
with gold at the legal ratio. But as tna a0s is
ure that will tend to parity OF the Two meIals
at any fixed ratio; / will co6neTate IN any
monious use OF silver and gold as standards OF
valve. . :, Tho mr..
think that the ilrst object which wo all have In
view is to preserve Intact the parity Of all or
hundred million dol lars Of paper money ont ont.
standing, for which we are responsible r, We
How ordinarily a q small reserve is sufficient
Esry %s With sss e. the duty Of Of O.:
eminent in its hands TO strengthen,
the that there shall be nj S%r that
money In the country. 1t nav be necessary to
issue securities in order g buy gold; our st
They would draw It from. the Bank Of Eng.
land. United States bonds, paying not over over
Ssr w2 hs is mott
ness. it Is at the same time. the only way by
which you can summarily ACQUIRE the possess
VI tried at the last session Of Congress to
aid the Democratic party the first time l ever
ton ar tha. Soai S the
the Treasury to maintain his reserve IN cnse
VI asd Of the popaSr eject such
because q little interest would have to be paid
and the bonded indebtedness increased. Ihcy
thought 1t was much cheaper and easier 70
issue more United States notes. and that such
issue would be likely to strengthen and n,
crease and bring about the danger. hone:
therefore. that the next measure 81 relief
viii provide viii be some broad. Iiberal meas
ure authorizing the President or the Secre-
tary Of the Treasury .whichever he prefers, to
exercise the power. II necessary. to sell securl-
ties in order to maintain the parity OF all our
cu!r1rslney o.,,u.,,,,r wou,st rot ovsr-
look the fact that possibly the balance OF trade
may be against US next year The appropr "a,
alter the scrutiny Of careful economists. may
exceed the revenues Of the Government. and
some authority to make good the deficit IT, what
IN The COWS" matts E1'u II that be not dons
s so !ss the 5sysnsss sSSs
you'd have no mo p9wer to meet r ths de bY
party to any Aiministration whenever the
necessity hns arisen Another thing can be
done. l think. for immediate relief BY
strange rule OF logic we can coin m equal
amount Of dollars out Of q given quantity Of
bullion and then have a surplus over II there Is
there Isl l would. undoubtedly coin that sur
plus and use 1t IL necessary for the ordinary on
a silver
as they call it. lit is profit, it is an outrage
Il 1t i isnot profit it is fraud; and think 1t
At this point OF his speech Mr. Sherman
to reply to and clear away all the charges and
aspersions made hy Senators and others IN
, NTH Thqt j. sns the nfs d
to some annoyance Mt he statement make the
other day by Mr.. Voorhees, that the action q
been stealthy and treacherous
Mr. Voorhees, declared that nothing could be
70 sas an anknd ae % Abon
the Senator from ohio. That Senator was not
In his mind all when ne thSSe
him. he expressed his regret at having uttered
them. and declared himself capable of in
flictinR An affront unprovoked on any gentle
NH Mr.. sherman said that Certainly he did not
Ssns to
from Indiana had said was due to his exuber-
IoSss the eco n snG hs
matter OF the act OF 1873 pain and clear. and
to show that the whole proceeding was free
And hereafter, he added. in angry end
i'm putation. / will simply say that it is a false
hood. and brand 1t SO row and then. There
has been ANY S hsn the
and to say that it was passed surreptitiously
f talsenood and liS by whOe tSs u t ed
$sP'Sss '2@ Ss3 s
Til The last remark was In reference to an cpl
tibet appliedto MIR. sherman during the debate
ss%s9t Tetorted that in due time he
would explain how lie came to vote for the bill.
III. sherman boldly ayowsd his connection
ring tnnntingly I" Mr.. stewart OF Nevada. that
he would not plend the baby act. The Senator
OF 53.0UO Intelligent. active. industrious
people, Interested in the mining OF silver and
the seaa anG
gone or not He quoted from speeches made
by Mr.. Stewart in the Senate in 1873 and 1874
these words:
Iwant the standard gold. and no paper money that
IL not redeemabe in gold. By this process wo
receive his dollar 1t VIII have the same purchasing
Of a dollar Gold Is tho universal standard or
the world Everybody knows that
The reading Of these quotations. showing
such a remarkable change OF opinion on tho
mart OF Mr. Stewart prov0k cd general laughter
at the expense OF that Senator. who looked
somewhat hewildered but only stroked his
long beard. subsequently,, however. no prom
ised to reply to Mr. Sherman on Friday next.
Mr. Sherman followed up his advantage over
the Nevada senator by exhibiting newspaper
published in that State. one whole side of
which was occupied with notices or assess
ments ON silver mining stock. all payable In
United States gold coin" Then he came
back to the main subject OF his speech and
II do not think that the stoppaRe Of silver
coinage was the end OF silver. We have proven
that the mere purchase oil silver by us ON de-
clining market is an improyident use Of the
public money and ought to DO abandoned. or