The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-06-01

Albany, n. Y, May Ex-senator Hill
was asked today whether he had read
Senator Sherman's speech on the none
tary question.
Yes said the senator, 81 have care
fully perused Senator Sherman's speech
at GAINESVILLE on silver. If an Ohio Demo-
crat had made a speech, there would
have been condemnation all along the
Republican ranks The implication star
tied me, that there are, in a prosperous
state like Ohio, Republican voters who
wish to degrade our dollar standard, re-
pudiate one-half our public debt and pay
their debts in cheaper money than they
promised to pay.
II have not met such voters in New
York. 1t is difficult for me to believe
that a majority in any American state
or in any American Congress will vote
TO create a new dollar merely in order
thereby debtors may evade the payment
of one-half or one-quarter or any per
centage of what they owe and nave prom
Used. That would be worse and more
indefensible than the creation in 1852, by
Senator Sherman'S party, OF full legal
tender dollar. Then the country was in
the agony of civil war, but now there IS
profound peace. Reputation of private
contracts had not been attempted IN our
history until 1862. Whether our standard
dollar was silver or gold or both, 1t was
from 1892 to 1862 an honest standard, an
undegraded standard.
New to Hill.
Senator Sherman said at GAINESVILLE
what was new to me, that for fourteen
years after the resumption of specie pay
ments, while the Republican party was IN
power, we had gold, silver and paper
money passing current in all parts or the
that from 1880 to 1884, when Cleveland
came, our silver dollars and greenback
dollars were eXportable like our gold dol
lars. One of my objections to our pres
ent government making full legal tender
silver ana greenback dollars is that lhey
are not eXportable.
i would exterm1nate forever the green
back dollars, which, by their endless re-
demption character, make the cnle1eSt OF
our existing currency woes. would, by
International bimetallism, establish coin
age at a ratio OF 1512 and not by Senator
ShermanS bastard bimetalliSm exempli-
fed in his law of 1890, now repealed, and
lift our standard silver dollar into
world wide parity with our gold dollar.
/ would thereby put an end to the degra-
dalton of any coined dollars Of ours. l
would not have, as now, one ratio which
is 10 for our silver dollars, and higher
ratio, as now, for our mined silver. OBJ
ject to Senator ShermanS mlSdeScrlptlon
of the binetallism of 1892 which, on an
international raUo of 1512 to l, adVo-
cate.
international Bimetal1isnt.
I'VE nave suspended the cOlHpulSoiy
purchase of silver and the coming of sill
yer dollars. l urged it in the interest or
international bimetallsm. The suspension
is steadily working in Europe TO that
end. 1t has persuaded Bismarck. If
could have my wish, l would have the
treasury purchase not another ounce of
silver, or coin another silver dollar under
existing conditions. The possibility of in
ternational bimetallism on ratio of 1512
has been fairly tested by The whole power
of the United States exerting earnestly
and in good faith by Congress, the presi-
d.zgC and cabinet, the secretary of state,
the country's diplomatic and consular
agents everywhere.