Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-06-17
THE SHERMAN LAW.
What Senator Dubois Says OF It's Probable
Repeal and of the Financial Situation.

What Senator Dubois Says of It's Probable
Repeal and of the Financial Situation.
''The fashion now," said Senator Dubois to a
STAR man, 'seems to be to charge all Of the
ills Of the country to the so-called Sherman
law. The Mckinley bill and high tariff have
been lost sight of. My own opinion is that the
large city journals entirely mistake the senti-
ment Of the country in their never-ceasing at
tacks on silver. The people are in faver Of
blmetallism. They are in favor Of both gold
and silver as money and without subterfuge
The present tendency of money centers is to-
ward a distinct gold standard. pure and simple.
The Sherman law has nothing to do with gold
leaving our shores. Anv thinking man knows
that. Repeal the Sherman law today and gold
would continue to leave in exactly the same
quantity il trade conditions remained as they
now are. The Sherman law does not suit me.
1t is q makeshift II will not be voted
out by the Senate, however unless free coinage
or something leading to it is substituted. Ever
since silver was demonetized in 1873 we have
had trouble with our finances. We will not
have stability until silver is remonetized. You
must base your currency upon coin-gold and
silver-in order to have sufficient and safe
money to transact business with. The Sherman
act provides that certificates issued against
silver bullion shall be redeemed in coin. The
President and the Secretary OF the Treasury in
sist upon redeeming them in gold alone argu-
ing that IL they redeemed in silver gold
will 60 TO premium. The first and natural in
quiry is, how do they know this? If they try
to carry out the law fairly they can tell but not
otherwise. Again, if gold should go to a pre-
MUM the Secretary of the Treasury could re-
sumo the paying out of gold for notes and thus
| reduce the premium. Again, lis not gold, con-
sidered as the basis of our currency, going to a
sba
by the falling prices occasioned by the scarcity
of money?
SILVER ADVOCATES CONSERVATIVE.
"The silver advocates are the most conserva-
tive financial men in the country notwithstand-
ing the ridicule heaped upon them II the
Shermanac is repealed and nothing substituted
you will have fat money based upon the credit
of the government only. Many advocates of
its repeal attempt to say that il will be followed
by free coinage of silver. No one attempts to
argue that there is a sufficient amount of
gold to serve safe basis for the requisite
| amount of circulating medium. Some adyo-
Gates OF the repeal of the Sherman act contend
at the same time for a repeal OF the tax on
state banks so that we will have money issued
on the credit Of the different states. The pop
ulists, q very respectable party IN point of num-
16 to 1, but only as stepping
stone to fat money. They care
nothing for free coinage per sc. The silver
men believe in both gold and silver equally
as q basis for money and in nothing else, and
they are not concerned as 10 what the views
| and wishes Of other countries may be.
The people at large understand this subject
better than the bondholders and money centers
think, and unless / mistake you will see a prac-
ticsl demonstration of their views in the votes
on financial questions in the coming and sue
| ceeding Congresses.
As n Oenaral nron0sitiou Nv Clavala Nd Il