The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-05-31
EARNEST APPEAL FORTHE SHER
MAN SILVER BILL.

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bred in this country, who understands
fully the character of the Sherman pur-
chase Bill. That the readers of the EA-
GLE may be made familiar with the main
provisions of the bill, we copy the fol-
lowing from the report OF the Director
Of the Mint.
1. The Secretary is instructed to pur-
chase 4 800, 900 ounces OF silver, or so
much thereof as may be offered IN each
month, at the market price, not to eA-
coed our coming rate.
2. Payments for silver purchases are
to be made in new form of paper mon
ey denominated treasury notes.
3. The Treasury notes are to be a full
legal tender for all debts, public and pri-
vate, and may be held by any national
bank association as part of its lawful
reserve.
4. Ii is declared to be the policy of the
United States to maintain the two metals
on parity with each other at the pres
ent legal ratio. or such ratio as may be
provided by law.
). Two million ounces Of silver bullion
purchased shall be coined monthly into
silver dollars until July /, 1891.
g. After July 1, 1891, the compulsory
coinage of the silver dollar ceases ex-
cept as may be necessary to provide for
the redemption of the treasury notes.
:. The provision in tie act of Febru-
airy %, 1873, requiring the monthly pur
chase and coinage into silver dollars of
not less that 50, 600, 600 nor more than
81 600, 600 worth Of bullion is repealed.
s. The moneys on deposit with the
treasury for the redemption of national
bank notes, are covered into the treas
ury and retired bank notes are TO be re-
deemed from the current cash.
9. These notes are redeemable
in coin at the treasury Of
the United States, or at the office Of any
assistant treasurer of the United States,
and when so redeemed may be re-
issued"
Now, when this bill is carefully ex-
amined, it will be discovered that it pro-
vides one of the most valuable measures
in regard to our money that has ever
been adopted by the government. The
treasury notes authorized to be issued
for the purchase Of silver are the most
perfect form of paper money that the
government has ever issued. They are
far superior to the United States notes
called greenbacks that have
been iii circulation since the war. On
ibis account, the silver treasury notes
are legal tender for all debts, public
and private, while the greenbacks are
not legal tender for the payment OF
iuties on foreign imports or for the pay
nent of interest on the public debt
They are far superior to the national
)ank notes, for the reason that national
)ank notes are not legal tender either
or the payment of duties on foreign i'm
lorts, interest on public debts. or for the
payment of private debts between indi-
7iduals.
These notes are more valuable as
money than either gold or silver coin in
his respect-that they are lighter, more
to handle, and can be shipped
rom one part of the country to another
1t less expense, and they answer all the
purpose of money just as effectualiy as
loes either gold or silver coin.
Another valuable feature of this Sher-
nan silver purchase bill is that it pro-
tides a measure whereby gold and silver
,oin can be kept at par with each other,
md both be kept in circulation as money,
md the legal tender quality of this new
orm of treasury notes will be Of inn
nense value as tie future currency of
he country. Being full legal tender
or all debts, and redeemabe in either
,old or silver coin, they possess all the |
egal functions of money, as well as the |
intrinsic value attached to money, and |
hat value is kept at gold standard,
This Sherman silver purchase act |
hould never he repealed by any party. !
The only change required to make it a
perfect bill would be a clause au;horiZ- |
ng the secretary of the treasury at his |
'ption, when there is not sufficient |
IUantitv of coin on hand with which to
edeem these notes, to redeem them in a
or q per cent interest bearing bond. |
This clause would prohibit spectators |
nd others from depicting the treasury |
# its gold or silver coin, and would pre- |
'ent the depreciation of these notes be-
ow par in gold or silver coin,
This bill is worth more to the masses !
# the people of this country than any
rec and unlimited coinage bill that
ould possibly be passed by congress. 1t |
ives them better class of money for |
circulation and always keeps ii at par
With gold; while unlimited coin |
.ge of silver would drive gold out
# the country and put us on
permanent silver basis. The people of |
his country should not allow Wall /
treet to have the control and benefit of /
My gold as the legal tender of the |
nor should it be in the hands of /
he owners of silver mines, who simply /
want TO secure control of the market for |
heir silver. 1t Is a bill in the interest |
# the great producing masses of the /
,eopie of this country, and while it was j
dopted merely as a temporary measure /
o head off free and unlimited coinage /
{ silver, yet in reality 1t embracesthe /
MY measure that will keep both gold
nd silver coin in circulation and keep
hem at par with each other,
De. f. T. MILLER,
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A WICHITA WDrIAN'S wsIT