The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-10-11

commerce. Iudb SOO1 ilOhh oAS
of the state to the other. The federa
authorities have nothing to do VIII
that but they have with Interstate
commerce. L contend, and am proue
to say it, that 1 consider the Unltec
States fortunate that it had secont
copy of Andrew Jackson in the presl
Dental chair in this hour OF need
Cleveland's answer to the governor o
Illinois that his action was no lnVas
ion of state rights has precedence
Did Thomas Jefferson trample upol
the rights of Pennsylvania in sendlnG
troops to that state TO quell tn'
whisky riot? Washington sent tn
troops to Pennsylvania and Je ersof
approved 1t. 4.
The president is ever sworn t.
sustain the constitution. When N
takes the oath OF ONCE N
assumes that sacred obligation ant
must ever live up to it. And now
most heartily assert that every man
woman and child ought to feel PROUD
that they have such a president al
Grover Cleveland.
THE SILVER QUESTION.
1t is said that he is undemocratic OF
the question of money; that he is gu
of his party. This is false in every re
spect and | am here to deny any sucf
assertion. Solomon said, there is
time for all things, l was in congress
when the silver dollar was Wortt
more than the gold dollar. L saw Il
drop inch by inch in value in time Ii
waa then when it was getting lower
and lower in value that ! spoke
European counteries were at thai
time demonitizing all silver money
and right here L wish
to say that decentralization
means to take away its money
value, to refuse to coin it is not de-
moIetization. Along about this time
the German government was com
pelled to return to the recoining OF
silver. France was at this time stand
ing still awaiting our action, and the
United States, instead of passing a
bill fixing the coinage at 10 1S2 ounces,
we limited the coinage and dare not
take the lead.
All the states in Europe have closed
their silver mints and now Japan is
considering as to whether or not they
will likewise close down on the coinage
OF silver. Now, when the whole com
mercial world has gohe from us what is
to happen2 In 1885 we coined silver in
great quantities while the demand was
constantly decreasing.
| was talking with a doctor friend
the other day and he told me that |
had gone back on silver. l answered
him by asking him whether he
wouldn't prescribe calomel if his pa,
TENTS liver was torpid. He said he
would. then asked him if, when
the liver was all right, as to whether
he would prescribe any more calomel.
He said no, the conditions had
changed. And this is my position; my
object was to keep these two metals
together, but can you do it with one
of them bearing value of only 90
cents. This financial question is a
business question, not parry guess
tion. If il had been a party question
Hamilton and Thomas
Jefferson never would have agreed on
it.
Yet Jefferson and Hamilton both
agreed that these two metals were
both the money of the country. The
and Democrats both
agree to that fact today, but we argue
that we must have gold silver and pa
per in proper ratio. When silver was
first minted Hamilton and Jefferson
agreed that it must be done on par
ity. Their conclusion was that the
ratio must be 10 ounces of silver to
1 ounce of gold, and so the mint was
started as free and unlimited coinage,
but on a ratio of 10 to |. 1t was big
mistake. The gold dollar was under~
valued by cents, and what was the
result of that little cents. Why, it
that every gold dollar took
wings and left the country, and this
was silver tandard country from
1902 to 1884.
In 1918 a discussion set in among our
statesmen about recasting the coinage
of these metals. That discussion went
on until 1884. jackson advocated a
silver standard, but they made one
more trial, placing silver at 10 8 IS.
The two metals were near, but still
silver was in the lead. In 1S4S the
gold mines were discovered in Aus
tralia and California and gold flooded
the country. The result was that gold
declined; silver fled the country and
gold, the deprecated metal. was left
as the standard money of the country
and no silver could be found. In 1851
Mr.. Corley stated in n message to con-
gress, that there was no silver money
in the country. The little margin of
3 cents had taken silver out of the
country and shin plasters were struck
off to use as a common iuedium.
What was done? After so years trying
they abandoned the eXperient and the
coinage of silver was not limited in
1878 by congress, and then they
stopped the unlimited coinage Of silver
for private use. They ordered the
minis to buy silver and made a stand