Middlebury register. (Middlebury, Vt.) 1886-1937, 1895-07-19


BILE.
Mr. Edmunds in his speech on the in
come tax before the supreme court stated
that that tax would be paid by five per cent
of the population of this country. SO 1t
is said that two per cent of the population
now own over fifty per cent of the prop
erty. With this vast aggregation OF
wealth In the hands of comparatively few
individuals and families. it must follow
that there is none in the hands of many.
Certainly not desirable condition to be
perpetuated, and still less to be intensified.
Again, as regards the bimetallic stand
ard. as a cOntemporaneous writer (Judge
Hillyer of Washington has so forcibly
expressed it: "Under the condition of
the free coinage of both metals the
fact that only one metal is at any
pal ticular time in general circulation
as currency is of no considerable I'M
portance. Neither parity nor concur
rent use is in any way an essential
quality or necessary accompaniment OF
double standard. 1t is the right to use
either metal in making payments ana the
right to have either coined at the legal
ratio for this use, which is the efficient
element of double standard and gives 1T
nearly all its value. 1t is wholly unim-
portant whether at any particular time
both. or either. or which of the two, is in
actual use. The essential is that they
are both within reach and may be and
ought to be had when needed
Mr.. Edmunds continues:
"That was the condition of things when
the act of 1873 was passed, which some
have said was passed secretly. and that
the wage-earner and debtor and all the
people that demagogues address them
selves to had been deluded and cheated
by the secret passage of that act. hap
Dened to be a member of the senate at
that time and am able to say from per-
sonal knowledge that any such statement
is absolutely devoid of truth
We do not care to discuss here at
length the question whether the demone-
tization of silver by Congress in 1873
was surreptitiously done, or what the
motives were of those men directly res
ponsible for it. Probably Mr.. Edmunds
would admit that the decentralization of
silver was one of the most important
and far-reachlng laws that ever was or
that ever could be enacted by Con-
gress; as any law would be radically
changing the money standard. 1t GER
tainly would seem as if bill brought in
to accomplish such a result, if not intro
duced surreptitiously, but openly and
candidlv. would have state in its title
the object intended as plainly as possible:
thus, "A bill to demonetize silver. Or
"A bill to change the double standard of
money hitherto used in the United States
to the single gold standard
Something similar to the above GER
tanly would have challenged the atten-
ton of every congressman to the very
important subject proposed. What was
the title of the bill that did this: Here
it is: IAN act revising and amending
the laws relative to the mnts, assay Of
fees and coinage of the United States"
This bill was introduced into the Senate
of the United States April IS, 1870, by
John Sherman of Ohio. The bill occu-
pied some - pages of manuscript. The
Niger in the fence, Struggled IN along
towards the center of the bill, was the
demonstration of silver.
Mr.. Sherman had tried once before to
accomplish this in comparatively honest
attempt on its face, in bill introduced
by him, Jan. G, 1865, entitled; "A bill in
relation to the coinage of gold and
silver" But the subject being thus
brought to the attention of congress and
opposed by Senator Morgan of New York
the bill was never brought up for action
{ We add statements of different mer
that as well as Mr.. Edmunds were pres
ent, and part of the congress that pass
ed this bill, including that of Mr.
Grant who signed it.
81 did not know that the act of lS7;
demonetiZed silver."-U. s. Grant, as re
ported by Hon. Edward Pierrepont
attorney general and subsequently min
lister to England.
perhaps | ought to be ashamed
to say it, but it is the truth to say
: that l. at the time being chairman
of the committee on appropriations
and having my hands overful
during all that time with work,
: never read the bill. | took it upon tn,
faith of prominent Democrat and
: prominent Republican, and do not know
: that | voted at all. There was no call o
the yeas and nays, and nobody opposed
that bill that | know Of 1t was pu
o through as dozens of bills are, as m,
= friend and know, in congress, on tn
q faith of the report of the chairman OF tn
committee; therefore | tell you, becaus
{ it is the truth, that have no knowledg
about Thames 4. Gdrfeld, as reporte
e in the Congressional Record, volume :
: part l, Forty-fifth congress, second SEES
:, sion, page 9s9.
II 81 want to ask my friend from Maine
i whom am glad to designate in that way
It whether | may call him as one more vii
a ness to the fact that it was not general
y known whether silver was demonel
ha aC he, - .,