The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-05-09
IT IS RED HOT SHOT
Lawyer Cherry Answers ]. Sterling
Morton's Paint.
SILVER WILL DO ALL RIGHT
The Secretary IL Invited to See
That the Metal Is Coined and
Market VIII Be Found
for the Money.
SILVER WILL DO ALL RIGHT

Denver, Col, May S.-James A. Cher
ry, the welI-known lawyer. to-day
mailed the following reply to a letter
addressed to him which ]. Sterling
Morton, secretary Of agriculture. gave
to the public yesterday:
MY dear Sir: You have my sincere
thanks for your candid. lucid and cour-
teous letter of the first inst. My rea-
son for writing to you was to get the
honest conviction of an honest mono
metallist. You have not helped me, as
/ hoped. You don't make 1t clear that
values cannot be affected by legislation.
You put silver with salt. sugar, and
soap and said: The axiom applied to
all alike; that not one OF them could
be affected by legislation
1T has seemed to me that legislation
could affect values locally and gener-
ally. Did the fall of silver from 1873
to 1898 cause the legislation of 1873?
You ask what sent silver down in 1898
to S4 cents en- ounce? Surely that fall
in its value was not the cause of leg
islation that preceded 1t. 1t was the
effect of It. Take the case of India
again. Legislation stopped the further
coinage Of silver. taking thereby part
of the old demand and the use of sill
yer away and it's fall was flashed over
the wires to the wounded producers
and debtors of the world as instantly
as thunder follows lightning. In that
case we cannot get cause and effect
turned around. The fall was the effect.
the logical and historical effect
You suggest that 1t may have been
the legal recognition of the existing
facts. That is exactly what it was.
Just the legal recognition of existing
facts, and If clearly understand your
meaning, caused the fall of silver to
"a cents. Again, the senate of the
United States passed a bill in 1891
which provided for the free coinage of
silver in this country. 1t was believed
that the bill would pass the house and
probably be signed by President Har-
rison and become a law. Silver jumped
within a week from about "a cents an
ounce to III cents an ounce. That
rise, remember, was not confined to
this country; ii made a corresponding
jump in Europe. We cannot get con-
fused over the proper place to put
cause and effect in this instance.
Make silver into money, give ii all
it's old uses and there will be demand
for 1t. And what demand, how men
would work. and sweat, and risk for it.
and what Joy and good 1t would bring
to the world! You coin II, Mr.. Nor
ton, and give 1t these uses and I will
furnish the demand. To carry out my
part of the contract, 1 can get good
bondsmen, those princes of maskers,
Reed and Mckinley, and the great un-
masked president of the New York
Bankers association, to go bail for
me, and If I fail in my part of the con-
tract, they will carry it out to your
entire satisfaction.
Everything now is measured in gold
and that famous yardstick of yours
and Mr.. Carlisle's is getting too in
formally long. The producer doesn't
get a good measure for his products.
the debtor fails before such a meas
ure, and the laborer cannot live when
his labor is measured by it. The stick
is growing and desolation only is keep
ing pace with it. The silver countries.
on account of gold appreciation. are
commencing to do all of their own
manufacturing. With the loss of our
manufacturing supremacy our COM
mercial supremacy is in danger.
These facts, when they are under
stood in this country, are likely to ere
ate a financial revolution unless it is
made clear that 1t is not due to a mis-
take in our financial legislation. Send
more light. Very sincerely yours,
JAMES A CHERRY"