The Monticellonian., 1895-06-07

the soundness or the unsoundness of his present views, the truth of history will not permit any mis- representations or suppression of the opinion which he held and dis tinctly stated in 1878. They were unequivocal. He was against the free coinage of silver only in the sense that he was against the free coinage of either gold or silver, holding that the Government should be paid for minting in the case of either metal. And while in that restricted sense he was against the free coinage of silver, he was in favor of the unlimited coinage of silver. We quote again his own words:
 My position upon this subject is briefly this: l am opposed to the free coinage of either gold or silver, but in favor of unlimited coinage of both metals on terms of exact quality. No discrimina- tion should be made in favor of one metal and against the other; nor should any discrimination be made in favor of the holders of either gold or silver bullion, and against the great body of the peo- pie who own other kinds of pro- perty.'
 A little further on in same speech:
 II do not wish 10 be understood as taking the position that the Sec retary of the Treasusy may not ac- quire and use silver coin for the purpose of resumlng specie pay ments in case the resumption law shall not be repealed, for I moin- tain no such proposition"
 As to the Secretary's denial that he has ever written or spoken in favor of the free coinage of sill yer at ratio of 16 to l or at any other ratio, the subjoiped extracts from his own remarks in the House on February 21, 1879, show the vaculty of that denial Tn 1895, whether it be technically and lit. erally true or not:
 "During Q period of l14 years. from l760 to the close of 1874, there never was single year, ex. eept one, when one ounce of pure gold would purchase 1898 ounces of pure silver: and yet that was the ratio fixed by the law of this country in l8a7, and is the ratio fixed by this bill.
 sI shall not now enter into an examination of the causes which have combined to depreciate the value of gold since 1873, but l am one of those who believe that they are transient and temporary in their nature, and that when they have passed away or been remov- by the separate or united action of the nations most deeply inter. ested in the subject, the old ratio of actual and relative value will be l raaSfo hl @ h a5 on n Grc,or {a,n1, tion than ever. According to my view of subject; the conspiracy which seems to have been formed here and in Europe to destroy by legislation and otherwise from three.sevenths to one.half of the metallic money of the world is the most gigantic crime of this or any other age.
 "The consummation of such { scheme would ultimately entai more misery upon the human race than all the wars, pestilences anc famines that ever occurred in, tht history of the world. The abso lute and instantaneous destruction of half the entire movable proper ty of the world, including house ships, railroads and all other ap pliances for carrying on com merce; while it would be felt nor, sensibly ut the moment, would no produce anything like the prolong ed distress and disorganization O society that must inevitably resul from the permanent annihilatior oi one half of the metallic money of the world.
 'I am in favor of every practi cable and constitutional measur, that will have a tendency to de feat or retard the perpetration o this great crime, and l am also il favor of every practicable and con stitutional measure that vii! aic us in devising just and perma nent ratio of values between tn, two metals, so that they may cir culate side by side and not alter nately drive each otber into exile from one country to another. Sil yer is now appreciating in th' market, and it's reconciliation and restoration to the coinage by this country will undoubtedly ac celerate it's appreciation in the flu ture."
 Is any further evidence needed