The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1894-04-24


any financial view other than that
which included both gold and silver.
1t is true that Mr.. Jefferson opposed
the coinage of "silver dollars" but
it was only "dollars;" he never OPP.
posed the coinage of silver in less
denomination. President Jackson's
gold measure never contemplated
the demonstration of silver further
than it made all import duties pay
able in gold, and required its depoe
it in the United States sub treasury
instead of in the kank. His veto
of the national banking act of 1892,
shows how he stood on the national
bank question. 1t is true that Pres.
ident Jackson's financial policy did
initiate against silver and in favor
of gold, and when President Van
Buren, came to the presidential
chair in 1887 (Mr. Clark is mis-
taken in his dates, President Jack
son was first inaugurated March a,
1929, and he served two terms,
eight years., he found the country
in the throes of the greatest tinan.
cia panic which had ever visited
it before or since-the present ex.
cepted. In the light of history it
can be said that this disastrous pc.
Rod was brought about by the
"avowed purpose to drive silver
from the country But the "pur-
pose" failed. For even then
the silver dollar remained the unit
OF value, as it had been from 1892;
but in 1884, under Jackson's admin
istration, to correct "the erroneous
standard of 1892" which Judge
Clark says Thomas Benton favored,
the ratio between gold and silver
was changed from Is to to l6 to
/, and the coinage of silver "dol'
lars" stopped by MIR. Jefferson, was
resumed. Was it done, as Judge
Clark leaves you to infer, by the
demonetzatio of silver? No, the
4l2 grains of pure silver in the sill
yer dollar was still retained, and the
pure gold in the gold dollar was re-
duced from 243 grains to 1871
grains-the silver dollar still re-
naming the unit of value, the
'Brant1rt Of measure.
But here Judge Clark, our great
political chameleon, changes his
views to another hue, and says that
he stands with 'that great Demo.
crat, Thomas II. Benton, who stood
upon the floor of the senate as the
neutrality-suspicious. Of the adj
ministration of President Jackson"
1t is fact that Mr.. Benton was, fol-
many years, bitter personal enemy
of General Jackson, and said as
little about him while he was presi
dent as possible. He did not APP
prove of his financial poll
cy as a whole, but he
did exert himself to secure
1t is the passage of "the expung
ing resolution" in order to relieve
a Democratic president from the
censure which had been passed by
both houses, condeming some of his
acts.
The financial views of Mr.. Ben.
ton, which Judge Clarke says he
endorses, were expressed very EN-
phatically on two locations during
this period; first, when the charte,
of the United States bank expired
she urged the adoption of gold
and silver currency as the true rem
edy for the embarrassment of the
times" This secured for him the
name of "Old Bullion"
Second. They were fully ex.
pressed by him in speech son the
floor of the senate" in 1887 under
Van Buren's administration, in ar
extra session of congress calle d tt
consider the emergency created by
"Old Hickory's" financial policy
and to devise means to meet the de
felt caused by his administration
and for which Van Buren, recon-
, mended the issuance of $l6, 600, OO(
of treasury notes. That session o
congress authorized the issuance O.
1slo ooc ,"c"- af-treasnry notes an
Mr.. Benton voted for the measure
| in order he said, "to divorce tn
government from banks and for tn
, exclusive receipt any payment o