Waterbury evening Democrat., 1895-06-01
SENATOR HILLS REPLY.
He Picks Flaws In Mir. Sher-
 mans Zanesville Speech.
TELLS HOW HE STANDS ON SILVER.
He Believes In an International Bimetal- Iism, With Free Coinage at a Ratio of IS I-2 to Would Exterminate the Greenback Dollar Forever.


 IS 1-s to Would Exterminate the
 Gresnbaok Dollar Forever.
 ALBANY, Juno l.-Sonator Hill was asked whether he had read Senator Sher- mans speech on tho monetary question.
 Yes" said the senator, II have care fully perused Senator Sherman's s Zanes- ville speech on silver. If an Ohio Demo- Crat had made the speech, tSere would have been condemnation all along the Re publican ranks
 "The implication startled mo that there are in prosperous state like Ohio Repub- Hcan voters who wish to degrade our dol lar standard, repudiate one-half our pub lie debt and pay their debt in cheaper money than they promised to pay.
 II have not met such voters in New York. It 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 ordur that thereby debtors may evade the payment of one half or one quarter or any percentage of what they owe and have promised. That would be worse and mure indefensible than the creation in 1869 by Senator Sher- mans party of the full legal tender green back dollar. Then the country was in tho agony of civil war, but now there is pro found peace
 The Degradation of Our Dollar.
 Until read the latest legal tender de cision in 1883 by a Republican supreme court in Juillard's case l did not think that our highest judicial tribunal could tolerate such a repudiation of private con tracts by degradation of our legal tender dollar. It had not been attempted in our history till 1862. Whether our standard alla 1x-gr ik from l7g2 to 1862 an honest standard, an undegraded standard. During those 70 years nobody loaning dollars felt it neces sary in note or bond~ns now to describe the dollars of payment as gold dollars of present. weight and fineneSs. Not till 1862 did congress begin to force the circulation of degraded dollars by imparting to them a full legal tender faculty.
 Tho failure of congress in 1884 to adopt the European international coining ratio of l5l2 undervaluod silver and OK pelled it, so that in order to keep in the country minor silver the law of 1858 au- thoriZed the coinage of small underweight- ed silver pieces, but they were not full legal tender. That Senator sherman de sCribes as proper and truo bimetallism deny it. It was compulsory treasury sill yer purchasing and coining like the Bland Allison statute of 1878 and his own stat ute of 1890, which differed in no substan- tial aspect from tho law of 1858 excepting that thuse of 1878 and 1S90 coined dollars (not minor silver as in lS53) and made them full @gal tender.
 Senator sherman said at Zanesville what was news 10 me-that for II years aft CT tho resumption of specie payments while tho Republican party was in power we had gold. silver and paper money pass T world. had never known that from 1880 till lSS4 when Cleveland came. our silver dollars and grecnback dollars were exporta- hle like our gold dollars. One of my ob- jections to our pr9sent government taking full legal silver and greenbaok dollars is that they are not exportable.
 Grccnbacks Cause Our Currency Woes.
 II would exterminats forever the green back dollars, which by the endless redemp- tion chain mako the chiefest of our exist ing currency woes. l would by interna- tional bimotallism, by free bimetallic coinage on ratio of l5'2, and not by Sen ator sherman s bastard bimetallism exem. plitied in his law of 1890, now repealed, lift our standard silver dollar into a world widc parity wita our gold dollar.
 'I w'sIld thereby put an end to the degradation of any coined dollar of ours. "Oulu IUl uaNCs uS nONS uLo rdllO WnlCD is 16 for our silver dollars, and higher ratio, as now. for our minor silver ob- ject to Senator Sherman's miSdescription of tho bimetallsm of l192. which on an international ratio of l5l2 advocated. 'Wo have suspended the compulsory ! treasury purchasing of silver and COining of silver dollars. l urged it in the inter est of international bimotallsm. The sus, pension is steadily working in Europe tO that end. It has pursuRded Bismarck. Ii l could have my wish. ] would not have the treasury purchase another ounce oi silver or coin another silver dollar under l existing conditions till tho possibility oi international himetallism on a ratio oi i l5'2 has heen fairly tested by tho whole 1 power of the United States, exerted earnest | ly and in good faith by their congress their president and cabinet. their secre tary of state and their diplomatic and con sular agents everywhere.