The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1893-06-30
cueScRiPTlCN RATES
AN ABSURD REPORT.

democrats in their efforts to repeal
the Sherman silver purchase act
of 1890, but will allow the admin
istration to be discredited by its
failure to command the support
of majority of its party for a
distinctively administration meas
ure. The report is probably with
out foundation. The Sherman
silver purchase act was not a
measure of which John Sherman
or nine tenths Of the republicans
in congress approved. MIR. Sher
man has recently stated that it
was a desperate choice between
the passage of a free silver coin
age act or the compromise meas
ure of July, 1890. The free silver
democracy in the senate together
with dozen free silver repub-
licans had a clear majority, but
they finally consented to the pas
sage Of the silver purchase act Of
1890, because under it the govern
ment doubled its purchases of
silver, and this they believed
would stiffen the fallen market
for silver.
The Sherman act was really
Hobson's choice for the anti'free
silver coinage republicans, and
was accepted only as a break
water against tidal wave of free
silver coinage. The Sherman act
has utterly disappointed the free
silver men who voted for it, for
under it the price of silver has
steadily fallen. John Sherman in
the fifty-second congress strongly
favored the repeal Of the Sherman
act. Henry Cabot Lodge, of
Massachusetts,, favors its repeal.
In the last session Thomas B.
Reed of Maine and Lodge of
Mass. steadily supported with
their voices and their votes the
efforts of the honest money dem
ocrats to defeat the Bland free
coinage silver bill.
There is no reasonable doubt
that Mr.. Reed, who will be the
leader of the house republicans.
will assist the Cleveland democ-
Excy to secure unconditional re-
peal of the Sherman act OF 1890.
He will do this because he knows
that any other course would be
utterly unpatriotic and injurious
to the financial and commercial
welfare of the, country. All
classes of business men are in
terested in the return of the
country to sound financial pol
icy, and the republicans IN con
gress could not afold to make a
factious opposition to the repeal
of measure which was never en-
acted by the republicans because
they believed it sound legislation.
but as a desperate choice against
free silver coinage.
The republicans in congress
will undoubtedly support the un-
conditional repeal of the Sherman
act, but they will not support its
repeal burdened by any free silver
riders; nor will they support any
proposition to revive the Bland
silver act of 1878. There is nc
force to the objection that the re-
peal of the Sherman. act would
contract the currency. With its
repeal the country would have
less silver per capita than it has
to-day, but it would Nave more
gold, as the gold which the re-
dundant and deprecated silver
has sent out of the country would
return if the silver absorption
should cease. Neither the Bland
Allison act of 1878, under which
We issued paper against silver
coined, or the Sherman act OF
1890, under which we issue paper
against silver bullion, can possibly
add to the actual use of silver as
money so long as the silver paper
is actually redeemable by the
terms of the law in gold. The