Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-09-17

IN
reney Of silver certificates: currency o.
treasury notes authorized by the nct 81
suy ~. lSo. and currency OF c.r-
Seatn authorized by the oct OF
Sie y hi-. a currency OF National
oaiik notes ard a currency OF United
S.a '' hotea or, In other words, the well
known gresnhacks created more than
thirty years age. and protected ana m,
ssFFea Al ~t6Sa.Oib, by the nct OF MAY
la'A So uniform IA purchaslix and
ueot paying power are all THESE curreneies.
50 In harmony with each other. aud SO
understandable at even and equal rates.
mat hanily one-half OF thein are generally
known 10 exist
II one Kind Of our circulating. purchAs-
lns and debt paying mediums ranked he
low the others In practical use there would
oe friction and confusion at once IN every
channel OF trade aud business. The cren-
i've power OF congress. however. as defined
by the constitution. underlles and supports
every American dollar In existence. and
II has proved impossible for the most de-
termined assaults OF Interested and power-
lui classes, on any one OF our currcneies,
TO shake the faith OF the American people
IN the credit aud honor OF their govern
ment National credit has been tested by
the smooth and harmonious circulation
OF our nine separate currencles. and has
met the ordeal In a manner 10 awaken
heart,
A ONCE DEPRECATED CURRENCY.
II 10 indeed historical fact. fraught
with extreme significance and Importance,
that no branch or part OF our National
currency was ever at discount, or stood
below parity with the best In clrcuia-
tion. except II was first dlscredlted and
dishonored by the government itself. This
happened once. and only once In Amer
lean history, and II will never happen
again. Provision was made I'm the memor-
able year OF 1861 for the purchase OF gov
eminent bonds with depreciated cur
rency for the benefit OF capitalists seekins
investments, and who could be induced
In no other way TO support their govern.
ment In the hour OF Its deadlieht peril.
The greenback currency was authorized.
and everybody required to take Il In pay
ment OF debts except the government
which created Il The bar sinister was
written on It's escutchon when Il was made
non-recelvable for custom duties. and In.
terest on the public debt when u was
stopped OF the highest functions OF the
money In The hands OF the citizen. and
stood, In open disgrace before the world
1t that condition Il became nm instrument
OF gigantic wrong and Oppression on the
laborlng massea OF the American people.
For every dollar received by the govern
ment an obligation was issued to pay In
the long run more than two, and the peo-
pe OF the United States are atm engaged
In carrying ont this unjust and dishonest
arrangement
What a striking contrast TO American
statesmnnship IN 1862 was presented hy.
the s'aiesmanship Of France when crush ID
TO the earth in the Franco-Pfusslan war
Of 1870 France issued her asslrnntr with
fun legal tender power for nh kinds OF
debts and based them on National honor
and National resources They never wav-
cred IN the storm. they never sunk below
gold, and France maintained. as aho has
ever since tho strongest financial credit
In Europe. The American gre nhr OK. how
ever has had Its full revenge for ali the
indgnitIes once heaped upon &C.
In the midst Of ohloGuy unnrobrious
epithtt', thr as a tltal structlon
wherewlth its Interested enemies assalled
IL fifteen years ago, the Erconback cur
rency was again touched by the power OF
the government, this time with respect,
and by the authority Of law II has re-
manned IN circulation ever since, always
on an easy level with the currency In ex-
istence. whatever that might be. This
once despised and slanderous currency Is
now in the pockets OF tn, peoples perpetu-
ated by act OF congress. guaranteed by the
public credit, and defylng the Impntent
rage OF It's enemies. have referred to its
well known career and TO its present use
full and honorable experience In order to
stlll further illustrate and emphasize tho
power and the duty Of the government In
furnishing a sound. reliable and cunstltu-
tional money for the use Of the people,
THE SHERMAN ACT AND ITS ORIGIN.
But, sir, at this point we are confronted
/ by law without precedent or parallel In
| American history. law which for months
past has been the them" Of all tongues
and pens. and In whose name financial
panic. alarm and distress have been in
| voked. and for whose repeal this congress-
has been convened. The origin OF the
Sherman act its motives and the object
It was designed to accomplish claim cspec-
ial confederation In reaching q conclusion
as to It's merits. Its author. the dstln.
guished senator from Ohio. has repeatedly
and quite recently explained the end he
had In view In It's enactment. A bill for
the free coinage Of silver had passed the
senate by the great majority OF sixteen,
and then the measure since known By the
name OF the senator from Ohio was
brought forward and rendered TO the rep
resentatlves Of States having silver hull
lion 10 sell. as compromise In lieu OF the
| great victory they had lust obtained.
In an evil hour the worst and darkest
that ever befell the cause OF bi-metalilsm
| or the honor and existence OF silver
money, this pecunlous compromise was
accepted and fastened on the country.
! The senator from Ohio Il IL true. now
] claims credit for his repeated assertion
Of late that there has never been an hour
since the compromise was effected that
he has not stood ready to violate Il BY
4 voting for its repeal. In other words
having Induced the producers Of silver
10 surrender their right 10 It's free coin
age at the mints IN exchange for the
right TO sell 4,5Oo.OOolOoo ounces per month
OF bullion TO the government, the senator
from Ohio and his followers on that side
OF the chamber have been willing and
anxious ever since 10 break the compact.
repeal the consideration on which the
compromise was made. and leave their
victims OF misplaced confidence from the
Psclhc coast and mountain range empty
handed. without either the privilege to
coin their silver or sven TO sell II aE a
mercantile commodity TO the government.
The dog IN the fable letting 70 the meat
he already had for the shadow which
looked larger made no greater mistQbc
than did the silver States when hey
supported the Sherman act as O snbstl-
tute for legitimate free coinage. The act
was not Intended IN good faith for the
coinage Of silver at all on tho contrary.
Il emnnRted from the enemies OF silver
money and its purpose was 70 degrade,
dlshonor and disgrace this one OF the
precious metals until Il could no longer
hold It's place with gold as n part Of the
specie basis Of this country and OF the