New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-26
a DISCUSSION OF "HoyEsr MONEY!
A"S EXCHANGED BETWEEN HosMER r. PAR.
GUNS OF THIS CITY. AND SENATOR SHERMAN.

Owns OF THIS CITY. AND SENATOR SHERMAN
Two Interesting letters were recentlv exchanged
"evn Hosmer B. Parsons. OF this city, and Sem
po o. 'ohn sherman. on the money question Mr..
PARSONS wrote as follows:
eres 1 o yo tina, honest money subject OF in
smaa sooa feature in the coming general election
policy Of financial integrity TO read what fo!ows:
,, auen OF the commercial Inertia marking present
nuenee Of this doubt and lack Of international sup
money OF the world. No one wishes to do work for
The coined saver mShg sxaD W H
honesty Hn shall be- snS yS f Wbs
ever be done as to and with future emissions Hc
eording to accepted figures the existing coined money
sent god. and the whole was issued and paid at par
honor honor requires the restoration Of the impaired IN
when made he a" chief 1a nations of ih hs
M mo- San WIN perfect safety mutually agree that
Of gold I9a se s
r a all az eSs a Mh h h1e es M ts the
;,e .sg quality OF subsdiary coins shall be lin
man exacis no less probity than this would Imply.
and atoms should be held as amenable to right as
without delay and should establish such methods
and regulations as Will give full effect 10 such an
tons haVc pcse dn ras w"t to manan Se @
Stamped power Of their respective eonsIs9d and
Government reserves will be a matter of no mo-
to point will be needless except so far as required
for payments in coin 1t is equally clear and has
Of specie payments in the United Siates-that an
agreement IKE TO that suggested would be followed
by the presentation for redemption of but small
amount of coins.
EFFECT OF THE ACTION.
The great value Of the action urged will lie in It's
effect upon the general mind the influence which 1t
will surely have In assisting to restore confidence and
Sc, the wheels of business in motion and the aid 1t
Will afford in helping toward solution of the prob
lem Of the present large product of silver. The
benefits which would accrue TO the world At large
from the successful contamination of a plan like
that herein family sketcheJ many and so OBJ
v.ous that more mention of them Is not essential
much desire for good money and to help the cause
OF those parts OF our country which have derived
revenue from the mines Of precious metals If that
ures first establish the integrity OF all present
Of international agreements 10 that end. believe
will command the support OF a large majority i
respect Of coin already made viii commend Itself 10
the countries whose cooperation is necessary. since
Il will be call 10 them 10, as IL were. merely honor
their outstanding obligations in full upon demand
II action such outlined can be induced and Is
taken l cannot see wherein II can do injury TO any
nation person. on the contrary, believe II VIII
bring universal almost immediate benefits, OF Snor,
favorable adjustment Of vexe1 financial questions
ins,ated In power measures for proportional and
moderate international purchases OF new metal Tor
posts Of for In international transfer. and
for other useful purposes. VIII present In natural
sequence and can be adopted For some time now
there have been compulsory purchases OF silver.
and yet there known large accumuiations or
the uncoined metal In the chief markets. A re-
newal of purchases after the recstabshment o. the
present silver coinage. need not therefore be upon n
large scale work better prices ana restore 10 USE
full operation the mines which for economic reasons
have been closed
/ trust, sir that in what is here said you may
find hint OF use In the pursuit OF the good
money measures which has distinguished your OFF,
cial lie, and. with sentiments OF great esteem !
beg 10 respectfully subscribe myself your obedent
servant.
MR.. sHERMANs ANSWER.
To this letter Senator Sherman sent the following
answer 10 Mr.. Parsons
Your letter OF the ist inst H. received and read with
attention. ! concur with you In your general oplh-
IONS hut II Is utterly futile for me TO seek to advo-
cate any financial measure. as both Houses OF Con-
are under the control OF the Democratic parry
and any proposition made by me would necessarily
meet with opposition. AS can do no good tnere-
fore avoid doing harm by attempting TO ensrai' MY
opinions into current legislation