The Caucasian. (Clinton, N.C.) 188?-1913, 1893-02-02
HON. WIN. N. STEWART
OF NEVADA, MAKES 4 STRONG
SPEECH IN TUE L. S. SENATE
lie Unmasks the Schemes of the
Gold Bugs.
AND SHOWS THE DESTRUCTIVE
EFFECT OF MONOMETALr
ISM ON AMERICAN IN
DUSTRY.
LET EVERY VOTER READ 1T.

american people is the free coinage
# silver. You must constantly hear
lbout it and read about it, and if it
s not settled by the present admin
stration you must vote on it. Do
Tou understand the question, do YOU
know all the facts? Senator Stewart
N his speech covers the whole
ground. Every voter should read it,
every word. We give the speech in
full. Lay this paper aside for fu-
ture reference. In order that you
may understand exactly the question
before the Senate, on which Senator
Stewart delivered the following
speech, we will state that since the
demonstration of silver in 1878, sew
eral bills favorable to silver have
been passed by Congress, but none of
them fully remonetized it. The
present silver law was passed July
IA, 1890, and is known as the Sher-
man act. 1t provides for the pur-
chase of 100000 ounces of silver
each month aud the issue of silver
certificates therefor. This is the law
under which the new silver certifi-
Gates now in circulation were made.
The only objection to this law is that
it does not 60 far enough. Itmakes
commodity of silver and limits the
use of it. But John Sherman and
the other gold-bugs are now dissat-
isfed with even that mild law and
want to repeal it. To this end they
have introduced the following reso-
luton in Congress:
"a joint resolution Is. r. 1859 au'
thorizing and directing the Secre
tary of the Treasury to suspend al
purchases of silver bullion as pro
vided in the act of July IA, 1890
"Resolved by the Senate and Hous
of Representatives, ETC., That th
Secretary of the Treasury be, and HI
hereby is, authorized and directed t.
suspend, until otherwise ordered b.
! Congress, al purchases of silver bul
lion as provided in the first section
of the act of July Il, 1890, entitle
'An act directing the purchase o
silver bullion and the issue of Trea
sury notes thereon, and for othe
, purposes.
What would be the effect of thi
resolution if it were to pass?
would completely demonetize sllve
mot another silver certificate woul
be issued) aud put us back under til
! law of 1873 and completely taste
upon us the single gold standar'
When that resolution was offered W;
it Ransom or Vance who jumped
y ~ his feet to oppose it? No! it WI
Stewart, the Populist Senator fro
Nevada. He moved to amend Il
above resolution by adding the fe
! lowing sections:
Sec. 2. That the silver coins of t
;, United States shall be composed
IL standard silver. That. of the silv
lie coins the dollars shall he of t
II weight of 4124 grains, the half dc
ar lar OF the weight of 2O61 grains, t
- quarter dollar ST the weight of 10
nc grains, and the dime or tenth part
ed dollar of the weight of All graf
a And that dollars, half dollars, qu
or ter dollars and dimes shall be lee
lf tenders of payments according
: their nominal values, for any 81
=. whatever.
II Sec. 3. That silver bullion brouG
ow to anv mint of the United States
O? coinage shall be received and COLI
or by the proper officers for the ben
~ Of the depositor. Provided, Thai
las shall be lawful to refuse at the m
no any deposit of less value than 81
for and any bullion SO base as to be
J. suitable for the operations OF
.o, mint. And all silver bullion
longing to- the United States shal
US coined as rapidly as possible WITT
mas delaying coinage.
on Sec. 1. That the depcsitor of
He yer bullion at any mint OF
United States for coinage shall
~ =, ceive therefor silver coin or LII
the ury notes of the United States,
ave he issued by the Secretary of
to Treasury in such form and OF S
Gas denominations, not less than
= nor more than $1,000, as he
pa prescribe. The Treasury notes
sued according to the provisions
this act shall be redeemable on
mand at the Treasury of the Tn
nm States, or at the cffice of any
sistant treasurer of the Tn
the States, in either gold or silver {
'ur- at the option of the United 81
ope. and such Treasury notes shall
can legal tender in payment OF all q
de- public and private.
7l1o What would be the effect OF
ano amendment? 1t would make a
ems legal tender and give tosthe pf
ing the free and ualimited colr
ent' It was on this question tkst ser
llng Stewart made the following
= Is erful and uuanswerable sp'
| of Hear him..
s. STEWARDS SPEECH IN FULL.
.,ora Mr.. Stewart-Mr. President,
Zeal repeal of the act July IA,