St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-16
VOORHEES, SILVER Bill.

The charge, freely made during the
debate on the bill repeating the Sher-
man silver act, that Senator VOORHEES,
was in active sympathy with the silver
cranks, and secretly desired the defeat
OF the measure which he assumed to
champion, receives confirmation from
the senator himself. On Thursday he
introduced bill which provides for the
coinage of the silver seigniorage, for the
purchase and coinage of 50, 100000 worth
OF silver per month after the coinage
OF the selgnlorage, for the retirement of
paper currency of less denomination
than $40, for the retirement of all gold
coins OF less denomination than $40, and
Tor the appointment of an international
commission.
In some respects Mr.. Voorhees, meas
ure is far more perniclous than the
Sherman act, which it cost the country
so much to get rid of, and from the
efects OF which we are still suffering.
Inc Selgnlorage now in the treasury
amounts to about sixty million ounces.
Its coinage would add more than fifty
million dollars to our already abundant
silver coinage that can scarcely find
storage space in the federal treasury.
The monthly addition of two million
dollars to that coinage would still
further aggravate the situation, In
stead OF adding to, it would subtract
from the public convenience. The
withdrawal of paper currency of less
denomination than ten dollars is not
demanded by the public; it is opposed
TO the public interest and convenience.
MI. voorhees, mistakes the public
pulse If he thinks there is any neces
slty or demand for an increased silver
colnage-or any silver coinage whatever
Tor the next fifty years. The silver
already coined is sufficient for, the
wants OF population three time great
er than that of the United States TODAY.
The treasury vaults will not be cleared
or the surplus now lying there during
this generation or the next. There is
enough silver coin to give to each man.
woman and child a pounds weight to
carry around. In some instances this
might be no hardship, aud, indeed.
would De regarded as privilege greatly
TO be desired; but it would compel re-
modelling of many business methods.
No one asks the retirement of bills of
small denominations; no one desires it.
They are great public convenience, as
is proved by the preference shown to
paper silver certificates over the silver
itself.
The adoption OF the Voorhees, bill
would practically restore the silver
status as it existed previous to the re-
peal of the Sherman law. 1t would be
the renewal of dangerous experiment
AN experiment that has already failed.
and that has cost the country untold
misery. 1t is surprising that a man of
Mr.. Voorhees, intelligence should lend
himself to such a scheme-should en-.
deavor to galvanfze theory condemned
and repudiated by the people in the
most emphatic manner; should en-
deavor to restore conditions that he
bimself declared were fraught with the
most imminent danger to our economic
system. The senator must know some
what of the public sentiment: he can
not be unaware of the evils that were
brought upon US by the enforced COIN
age OF base metal to an extent far be-
You'd Its available uses. 1t Is to be
feared that by the introduction of his
untlmely and pernicious measure he
has forfeited the good opinions he won
by his conduct during the tendency of
the repeal bill in the senate so recently.
APRoPos of all this talk about the
ruin to industries and the reduction of
wages if the Wilson bill goes into effect,