The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1893-09-21
FiHOtS AEs on SILVER.
Utterances OF webster, Hiatne, Shcr-
man and Secretary Carlisle.

III the tItaulDie 10 inc fesOluliOui
adopted by the late silver convention il
Chicago, the utterances OF several famous
statesmen living and dead are quoted as
follows:
Daniel Webster: "Gold and silve. al
rates fixed by congress constitute the
legal standard Of value in this country
aud neither congress nor any state has
authority to establish any other standard
or to displace that standard"
James G. Blaine-Quoting this utter
ance, adds "On the much vexed and
long mooted question as to bimetalli'
or monometallic standard my own views
are sufficiently indicated in the remarks
| have made. believe the struggle now
going on in this country and in othei
countries for single gold STANDARD
would, II successful. produce widespread
disaster ia and throughout the CONNER
cial world. The destruction Of silver al
money and establishing gold a. the sole
unit Of value must have ruinous efiect
on all forms OF property except those in
vestm ents which yield fixed return ir
money. These would be enormously en-
HANGED in value and would gain a dis
proportionate and unfair advantage oyel
every other species of property. II, az
the most reliable statistics affirm, there
are nearly 1900, 900, 0CO of coin or bull.
ion in the world, very unequally divided
between gold and silver, it is impossible
to strike silver out of existence as money
without results which will prove distress.
ing to millions and utterly disastrous to
tens of thousands"
Again he said: 81 believe gold and sill
yer coin to he the money OF the constitu
ton indeed, the money Of the American
people, anterior 10 the constitution, which
the great organic law recognized as quite
independent OF its own existence. Con.
gress has, therefore, in my judgment, nc
power to demonetize both. If, therefore,
silver has been demonetized, l am in
favor Of remonetizing it, in favor OF order
ing it resumed. am in favor OF having
it enlarged.
II know the worlds stock of precious
metals is none too large, and | see nc
reason to apprehend that it will ever be
come so. Mankind will be fortunate in
deed il the annual production OF gold anC
silver coin shall keep pace with the an
nual increase of population, commerce.
and industry. According to my views o
the subject the conspiracy which seems
to have been formed here and in Europe
to destroy by legislation and otherwise
from three-sevenths to onc-half OF the
metallic money of the world is the mos
gigantic crime of this or any other age
The contamination OF such scheme
would ultimately entail more misery
upon the human race than all the wars
pestilences and famines that ever occur
red in the history OF the world.
THE alb dilute aud instantaneous de
struction OF half the entire movable prop
erty Of the world, including houses, ships
railroads and all other appliances for car
rying on commerce, while it would be
felt more sensibly at the moment, would
not produce anything like the prolonged
distress and disorganixation OF society
that must inevitably result from the per
manent annihilation of the metallic
money in the world"
John Sherman: THE contraction o
the currency Is far more distressing OPP
GRAFTON than senators suppose. Our owl
and other nations have gone through tina
operation before. 1t is not possible t
take that voyage without the sorest dis
tress. To every person except capital
list ont of debt, or salaried officer, or an
nuitant, it is period of loss, danger, las
situde Of trade, fall of wages, suspensions
OF enterprise, bankruptcy and disaster
Ii means ruin OF all dealers whose debts
are twice their business capital, though
one-third less than their actual property
1t means the fall OF all agricultural pro
duction without any great reduction o
taxes. What prudent man would dar,
TO build house, railroad, factory o.
barn with this certain fact before him.