The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-04
JOIIN SHERMAN ON SILVER.
vorIy NAVE ro1ED no REPEAL
THE SHERMAN ICT AMI DAY.

,,,, only n Compromises MEASURE Designed
az Save the Ceuntry from Free-eoinaEs
NH Ir Parity Between Gold and silver
=. Nh. Maintained There VIII n Wide
,,.,,,.t-But silver Mintage May Be
,,.,.d--i'be Restoration of Con ndcnce.
ru,c,Go. July a." There has never been
.,.,a since the law OF $780, known rs the
.shcrman act was passed that would not
,,ys voted for its repeal." said Senator John
sherman at the Lexington Hotel to-day. The
shorman act was a compromise measure, and
=, was PASSED TO savo tho country from free
a.,,ape bill that had been passed by the Som
~. nv nm overwhelming majority. Tho Demo-
sra,s belped pass the Sherman bill. and now
.hov abuse 1t and blame it for all the financial
%. of the nation. II tho Sherman bill had
mt been passed free.ooinage bill would. and
th. result Gould have been Infinitely more
damaging to the country"
Twill YOU outline what you think should be
done in the present CRISIS"
'"No will not. prefer to have President
Cleveland and advisers unembarrassed by my
ADVICE. l have told Mr.. Cleveland and Mr..
Carlisle that / will stand with them for
sound, safe, stable currency, and that will
40 But the present dispute over the silver
ouestion is o Democratic party issue Mr..
Cleveland. in opposing silver. is fighting three
fourths Of his party"
will the Sherman bill be repealed2"
Probably so: but before Il 10 repealed there
ara ant to DO some warm expressions OF opin-
ion. would not be surprised II some Of the
democratic Congressman and Senators should
consent to tho repeal OF the Sherman act only
on conditions that the Administration might not
favor. In the silver States and In many other
States are Congressman whose constituents
believe in free coinage. What will the Admin
istration do II free coinage rider be put
on the repeating act2 Down South they want
more money, plenty Of It and they are not SO
very particular as to what kind Of money IT is:
How will the hard money Demoerats like 1t *
Ssnt Snrrency fhese only
conjectures as to what might happen. but they
indicate how the Democratic party stands on
attitude, to certain extent OF spectators; but
oe ~ tSnE the Sherman law viii
repealed but the danger is that Congress may
I ss0 ~ IL Silver
monthly DO stricken out It would be we'll But
ss op a 60 s sts repeal sSa
parity between gold and silver coins. It would
cause widssp 4 a%d G distrgst There IL in the
and Sas sit5, 200 in uncoined bullion. The
! ssfved and their parity to gold @ainsaineS
age Of silver, but. that IN circulation must
e maintained; Many newspapers seem to
5 sI e sS 01 aees ecneG e the ss
ate Of purchase. 50 that those silver dollars
Agoid basis. and the Government can redeem
,he M an l n gold now with loss OF only about
SWbSt in vour opiniop IA the ranedv for tha
The restoration Of confidence in the COM
caused ~ AZ sppIeaen.ion ii the mencsnhie
SsssS .s Il S q. S :Sosa Ky .ssSa
ssef the CESSATION q Silver e Coinage viii Srins
a!s ssaS 81 g much Il
s sS NJ SSp am y is,s ; sns
Th u. action q india VITA resaTd to silver Is
The that ac the ns' rae.e shah a. b
worth l8 pence 10 in the nature Of fiat money
eRa h sSa e t isf aas acted
tSs cold basis All the srsst co@mereisi alma ma
sss. sssi sna a tS rs 81
s1e 8Sflds e noa ss IL the soinsss
rslseated to the position 81 Subsidiary coinage
90 In the other nations Of the Latin Union. the
world would know that We proposed TO pay
sonndence would be restored The sxporta-
tion Of gold to Europe Is brought about By the
1dsnce is restored tho gold will come back.
II Congress- acts conservatively and does NOT
gotoo far In radical legislation all will be well.
the national bank system viii lapse when our
rational debt shall have been paid Of and
basis for bank notes. DO not attempt to guess
the details Of the system that will follow 1t.
put think that no money should be allowed
full guarantee Of tho United States Govern
ment. Treasury notes to b. Issued in such
would seem to the purpose"
The Treasury Not Buying Bullion.