Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-04-16
FOR SILVER MEN.
A Bill Aimed to Suit the Ideas OIL
Western Men.
Views Of AtsIph Meyer Of New Orleans On
Silver Question.
wAsmrsoros, Apr. b. Special. j.

WARRINGTON, Apr. l5.- Special. j.
Hon. AdoIpii Meyer, one Of the represent
atives from the city Of New Orleans, has
introduced bill which he fondIy hopes
Will accomplish all and more than the
Bland seigniora9e bill could have done,
satisfy the silver men for the present, rec
orcile the factions Of the Democratic par
~, pass both houses and receive the sigma
ture 81 the president. Amy man who en-
tiers with confidence upon 20 herculean Il
task a. that Ii well worth listening to. In
a lengthy conversation on the general sub
jcct Mr.. Meyer said:
I" IL IL plain 10 my mind that silver has
received It's final defeat. | am not in favor
Of free coinage in the present condition
and temper Of the commercial world. j
want the largest practicable use Of silver,
but gold must be- the standard. And all
this talk or free coinage on a new ratio Is
beside the question. Practically IL makes
no difference what the ratio il with frue
coinage established, for there will lie auc-
tuation just the same, and We shoull a.
tcrnatr batwecn the two metals just "A we
did before, always using the cheaper ore.
But Nil this i old II we have free coinage
ut all, am IN favor of the old ratio.
Twenty Dollar Bonds Proposed.
"Thc first part Of my bill authorizes the
secretary 10 issue $50 bonds at 3 per cent
interest, but not because | doubt bis legal
power to borrow under the resumption act
Of 1875. The argument against 1t seems
10 me very unlawyerlike, for IT. Is u rcgu-
lar statute which has never been repealed
or nullitIod by tho courts and has been re-
pcn,cdly accepted M still in force. OF
course 1t will continue the law until 1t is
repealed and they virtually admit that
in seeking to repeal IL. However, my bill
makes the power more specific, popularilcs
tho bonds and fixes the rate OF interest. 1t
also provides for coming the seigniorage.
/ take no stock In that talk about coin
ing u vacuum. The surplus silver il there
and paid for, and SO we have unqucs-
tionablo right to coin it. This bill not only
docs all that the Bland bill would do. but
more, for | am sure the second clause Of
that bill would operate 10 contract the
currency as much rs coming the scignior-
age would expand It. Down with Us there
Is "a great deal OF talk, some Of 1t wise and
good deal Of II unwisc about the neccs-
sity OF more money, so much per capita
and all that sort Of thing Now, | think
this Is largely mere sentiment but it Is u
quite general feeling all over the west and
south, and even sentiment ought to be
grutiIcd where II can do no possible harm.
Another point, and II Is really the Inn
portant one j. that this bill will satisfy
the president. 1t Is all very well to talk
about sticking to principle and passing
laws to fit our first ideas, but il Is the bust
ness of practicable men to pass measures
that can really become laws In the com,
mon affuirs of life men very seldom get
just what they want but content them
selves with coming as near 1t rs they can. /"
A Change of Views.
Mr.. Meyer Is u short and active man
whose features show lsraelite blood, and
whose manner is Nil business, but just tho
same he was an active soldier for thrlG
years leaving the University OF Virgins.
AT the age OF 20 To join the army. The
views Of Che few southern men opposed to
any further coinage of silver are much
sought for just now, and commenting ON
the new proposition Josiah Patterson says:
1t il not because am from commercial
city tMemphis), for | think my constitu
ents arr for silver, but when this question
began to press on us studied IL as never
studied II political question before. liter
ally shut myself up for mont MS and studied
every document on tho question, and with
every desire to advocate free silver---In fact,
with II very strong bias in Its favor--I was
compelled Ia decide against it,
Il noted first that every really great and
progressive nation had accepted the gua
standard with silver as subsidiary. aud
that tho greater their commerce and the
longer their experience with the two mot
ais thc more were they set in favor of the
gold Standard. Surely those nations un-
derStand their own interest and il is not
the creditor nations alone. We cannot say
that the experience of all Europe must go
for nauRht, and ,nat the Judgment Of their
best minds on 1t is all wrong. | then con.
sidercd the hundrcd and thirty odd million
bales of cotton which the south had pro-
duccd since the war. and that all the sur
plus of 1t, with very few and triiiing ex-
captions, went to the nations where gold
Is the standard, and chiefly TO England. |
could not consent to subject our people to
n disadvantage in the exchange.
Again, there Is much said about the
concentration of wealth and the big for
tunes created, aud am satisfied that the
foundation of 1t was laid in those grecn-
hack times when the money was down to
40 cents ON the dollar or less, and am
afraid that would happen again by the
fluctuations in the value of silver. One
thing NOR, the parity can only be restored
hy a union of the great commercial ma.
lions, and IL we should consent to absorb
their surplus silver England and Germany
and the rest would never agree TO such a
union. | am IA certain rs 1 can be of any
thing that our repeal VI the sherman act
and sticking to il have done more to bring