Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-06-03
TERRELL AND HIS MULE.
n sauAnE-roED DECLARATION ron
THE GOLD STANDARD.
ono Of the Judges beautifully Con-
sfructed Pieces OF word Painting
h Anent tho Financial situation.
4 single Gold standard Ideas.


Special Dispatch.
Austin, TEX. June 2.--Judge Ter
relI. minister to Turkey, has written a
letter that will likely prove a three
days sensation. Judge Terrell and
his mule" have been made famous
by their antI-corporatlon foraya. Now
the judge turns his face on his former
allies. smiles upon Washington and
thus Expresses himself In favor Of n
gold standard:
Austin. Tex. May 30. 1sei-Hon. C.
G. connellee. Eastland. Tex; Sir
Your letter informing me OF tho cur
rent impression In Texas that would
be candidate for the United States
senate is before me, am not n can
didnic for that position. nor do ]
expect TO be candidate at any time
hereafter for that or any other office.
You also asked my opinion OF the
silver coinage policy OF the president.
Texas, like most Southern and West
ern states, has Just now an abundant
supply OF gentlemen who profess TO be
skilled IN national finances. hut to reg
Unite wisely the currency Of n grent
nation requires an amount OF learning
80 varied and accurate that few men
are qualified for the task. Conscious
of my own deficiency. / have never
discussed the silver problem, and will
not weary you with statistics in an
Ewering your question but hope that
you VIII again read tho Chicago plat
form, and then determine for yourself
who Is outside OF the Democratic par
~. Mr.. Cleveland or those who nssnil
him.
THAT platform on which we elected
the president declared as follows. I'VE
hold 10 the use OF gold ind silver ms
the standard money of tho country,
and to the coinage OF both gold aud
silver without discrimination against
either metal. or charges FOR mintngc."
IL DID not stop there. but continuing,
said "But the dollar unit OF coinage
OF both metals must bo OF equal In
trinsic and cychangcnble value. TO be
ndjustcd by International agreement
or by such safeguards OF legislation
as shall insure the maintenance OF the
parity OF the two metIlr and the equal
power OF every dollar at ali times In
the markets"
Last year congress met, legislation
began ana the relations of silver aud
bold In the ratio they should bear 10
each other had not been adjusted, nor
has It yet been adjusted. either by
International agreomen, or by logla-
lation. The silver purchasing clause
OF the sherman act was repealed as
demanded by the Democratic platform
ON the recommendation OF the presi-
dent. Tho Bland seignloragc bill was
also passed which provided for the
coinage OF silver bullion In the treas
ury amounting TO SlbG,0OO,0O0, aud also
the silver selgnlorage bullion, which
was enough 10 coin over 1000
more. The president vetoed II.
To judge rightly OF that veto, II
must be remembered TINT tho ntrin-
Gle value OF the metal In the silver doll
lar in the markets OF the world IL only
a little over 80 centa In gold IL is
true that the gold reserve ON hand,
the credit OF the government and tho
limit To tho silver In circulation mado
the coined silver dollar on parity with
gold. but In it's oxohangeahle value
only. II should be remembered that
when this bill wns passed aud vetoed
there WAS only about one hundred
millions OF gold In the treasury, which
was directly charged with the re-
dcmptlon OF three hundred and forty
six millions OF the iegal tender notes
of the government. 'rhe Bland sclgn-
tOFulrR hill Arnnpata1 "a
two hundred millions OF silver dollars,
without providing any Safeguards Of
legislation" 10 insure the "mninten-
anoe of the parity" OF the two metals,
and 1t contained no provision by which
the gold reserve might be Increased.
In his veto the president informed com
gress of his desire 10 preserve for
silver It's proper place In our currency,
ana his veto was avowedly Inspired
by a fear that the proposed law would
teopardiao the Intrinsic and exchange
able value" and the parity" and
equal power OF the two metals.
No thoughtful man believes that the
exehanseable value OF the two metals
at the present ratio OF 10 Ia TO | could
exist with an unlimited amount OF sill
yer coin in circulation, and so the DEM
ocratio platform contemplated by its
very Language that in future the parity
oil the two metals should be secured
either by international agreement or
by further safeguards of legislation.
The Wise precautions demanded by the
platform were dlsregarded IN the Bland
selgniorage bill. for It proposed TO Hood
the country with over s2cO. 100000 OF
paper money issued on the silver to be
coined without changing tho ratio be-