The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-07-12
An Issue With His Constituents


Hon. GeJ G. Pendleton, member
of G ,ngress from this district, has
defined his views on the silver ques.
ton. and be is go far in variance
with the democratic sentiment of
this people that we are "astonished
At his doctrine" The Washington
correspondent of the St. Louis Re.
public, under date of June IS, thus
telegraphs that paper:
Representative Pendleton, of
Texas, is in the city. He comes as
others are coming, to look after
fourth elias, postmasters. He says
that he has met with only the kind
est treatment from Mr.. Bissell and
has no trouble at all in placing HE
men where they will do him the
most good. Nc. Pendleton is bi.
metallist and in speaking today of
the repeal of the Sherman act de-
fined his position very fully. He
will vote for the repeal of that
measure and considers Secretary
Carlisle fully justified in the con.
cluson drawn in his interview pub.
lished few days ago.
The conclusion is, as everybody
will remember, that the Sherman
law practically forces the govern
ment to exchange gold for silver at
the rate of 4 100000 ounces of the
bsser metal every month, and is
ruinous financial policy. Mr.. Pen.
dleton favors, and will probably in
troduce bill declaring that six or
twelve months from date of passage
any possessor of silver bullion shall
have the right to have it coined
into standard dollars at the mint,
provided that the dollar shall con-
tain 100 cents worth of silver at
the market price then obtaining.
In other words he favors an "hon.
est dollar, mot 65.cent dol.
lar. He proposes to delay the coin
age six or twelve months in order
to give silver chance to rise if it
will do so.
1.-The moment" said Mr.. Pendle.
ton, ''that the secretary of the
treasury exercises the discretion
conferred upon him by law and re.
deems in silver the notes issued
against the Sherman bullion, that
moment our silver dollar will drop
to IS cents. 1t will have but IS
cents worth of purchasing power. l
am bi.metallist, but l believe this.
Such course would result in our
having two standards. That would
never dc. The silver dollar is
worth 100 cents today merely be.
cause it may be exchanged for 100
cents in gold. Take from the
holder of silver the option to secure
gold and he will not want the silver.
1t is not complicated proposition.
1t is very plain. We can have a
beneficial free coinage only by put
ting 100 cents worth of silver into
every dollar sent out from the minis.
There is no other way"
"He will vote for the repeal of
that measure" the Sherman act.
What does that mean? 1t means
that Mr.. Pendleton is willing to
turn his back on the white metal,
and to give this country over to the
single gold standard. We have
heretofore chara oterized this pro-
position as crime against the
whole people. We stand to that
decla ation.
Mr.. P.ndleton favors dollar that
will contain 100 cents worth of sill
Yer. Does not the present silver
dollar contain 100 cents? Mr..
Pendleton says not; that it is IS
cent dollar. We have been accus-
toned to read that sort of "argu-
ment" in our eastern exchanges and
as expressions of some of the pub
lie men of that section. But we
did not suppose any one down
this way held to that view.
The SILVER dollar as we now
have it Is just one hundr d cents,
no more and no less. 1t is true
that through hostile legislation sill
yer bullion has been forced below
gold, but for that crime our peo-
pie are in no wise responsible, and
1t i'll becomes their representative