The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-08

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the silver coins of less denomina.
tions to secure its concurrent circu.
lation with them" He further
stated that the silver dollar Of
il2t grains, by reason of its ball
ion or intrinsic value, long since
ceased to be a coin of circulation,
and is melted by manufacturers of
siverware."
1t was not then urged that the
silver dollar lacked intrinsic value.
or that too many were coined, but
upon the contrary, that it was a
long-legged dollar and was too
scarce.
When the bill went to the senate
it fell into the fine financial hands
of John Sherman, the prince of
jugglers, who caused several amend
ments to be added which were non
concurred in by the house in gross,
aud committee of conference was
appointed of which Sherman and
Hooper were chief manipulators,
and it was finally passed as copied
without division in either house,
and perhaps without dozen mem.
bers knowing its venomous charac.
ter, and afterwards the country
walked up to the fact that the unit
Of value had been fraudulently, sur.
reptitiously changed, and vast
maj ority of the people have since
been asking to have the wrong
righted, but have only realized
fraudulent makeshifts.
On April 2s, 1890, Mr.. Leech,
director of the mint, made a report
to the secretary of the treasury on
the production and COMA ,e of the
precious metals, which report was
published by authority of congress.
On page 24G of this printed report
is a table giving the average price
of bar silver in London each year
from 1893 to 1889, and at no time
from 1884 to 1872 was silver quoted
at an average of less than s. 20 per
ounce, in 1872 being quoted at 1872,
or per cent above gold. On page
PAS the commercial ratio of silver
to gold is given for each year for
the last 200 years, and at no time
for 200 years prior to 1872 is silver
quoted at less than A to | and new
err as high as l6 to /, hence there
was no cause at that time for strik-
ing down silver on account of its
intrinsic value.
Mr.. Carlisle is reported as saying
that prior to 1873 there had been
but little more than 1000, 900 of
silver coined, but since tina. time
more than $3.50, 1000, 900 have been
coined. Then under that view
there was no occasion in 1878 to de-
monetize, disgrace or dishonor the
silver dollar.
Mr.. Carlisle might have baen
more fair if he had said he was re
ferring to the coinage of silver dol
lars only. For referring to Mr.
Leech's report we find the United
States coinage up to 1878 was as
follows (page 2S0):
Gold, value ....... ...... SslG, 1905, SIS
SIyer' value ;,a,.o li55il s ssJ
Prior to 1873 the country was
getting along fairly we'll with the
double standard There had been
no public demand TO strike down
silver as dangerous. No Legislature,
political convention, social club, re-
ligious conference, base ball club,
or debating society had passed reso-
lutions asking Congress to demone
tia silver. Then Why was it done
secretly and sneakingly? No doubt
John Sherman could answer this
question if he wanted to do so. His
statement now that he would like to
see the two metals maintained at a
parity will deceive no one who
knows that when they had been
maintained upon equality without
ripple for so years, he struck silver
down without cause or excuse. The
friends of silver now in Congress
will be worae than Golts if they
permit the unconditional repeal Of
the Sherman law without a strug
gle, trusting the vague promise that
something will be done for silver
afterwards. d. j. HEA sTON.