The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-07-30

siiEer uOlihr piece, the history OF WHICH 10
here given, Is discontinued In the proposed
bill It is by law the dollar unit'--you
read that yesterday-'and assuming the
value Of gold to be 1874 times that Of silver,
being about the mean ratio for the last
six years, II is worth in gold premium Of
about 3 per cent. its value being $1.0S12
AID intrinsically more than per cent pre-
MUM In our other silver coin, its value
thus being s1.074s. The present laws con-
sequently authorize a gold dollar unit and
a silver dollar unit, differing from each
other in intrinsic value. The present gold
dollar piece is made the dollar unit in the
proposed bill and the silver dollar piece is
discontinued
A voice in the audience; when was that
written?"
Horn; "Just before it was sent to con-
gress in 1870. 1t was part of the report
that Secretary Boutwell, sent to the senate
in the spring OF 1870; it accompanied the
bill and was printed in the public docu-
! ments as being an explanation OF the bill
by order Of the senate. Is there anything
hidden in those sentences?"
| Horr then gave Sherman's statement in
| the senate in August. 1898, showing the
course of the bill in that body, the reports
| Pacific coast made no objections to the
bill, the frequency with which it was print
ed, etc. Horr then followed the bill into
the house. after being passed by the senate
by.a yea and nay vote. Senator Stewart OF
Nevada, voting for 1t. 1t reached the house
Jan. 10. 1871, and was printed on motion
of William d. Kelly. chairman of the
house coinage committee report In the
.f1aa fafi Of thcff 10 hat
that congress expired before final action on
the bill AT the extra session In 1871 II
was introduced again, and again no action
was taken. Kelly introduced it.
Harvey then took the floor again and re-
ferred to the charge against George A. Bas-
sett, clerk of the ways and means COM
mittee in 1873, OF having demanded $3.50
per month from New York bankers and
brokers to assist them in repeating the tax
on borrowed capital and quoted Chicago
Tribune Washington correspondent as fol-
lows: Turkish corruption under the pa
shas and beys, or Russian official rotten
ness, could scarcely be worse than it is
here" He referred also to the salary
list" bill. and said it was at this congress
that silver was demonetized. Then he said
that the bill as passed was not the bill
supposed to have been passed. He quoted
sections Is and q of the bin with the
words in brackets, the omission Of which
demonetized silver as he claimed.
He said: CAS- the bill passed both houses
the unit was on gold, and free and ualim-
tied coinage of both metals was provided
for. But as enrolled the minis were closed
to free and unlimited coinage Of silver, ex-
cept as to the trade dollar, afterward abol-
CHI -sl, an.
fraudulently omitted after the bill had
passed both houses"
Horr said the statement was preposter-
Gus. He quoted the words of Kelly, Of
Pennsylvania, in 1872. I'VE proceeded with
great deliberation to go over the bill, not
only by sections, but line by line, and word
by word" Hooper was also quoted, April
8, 1872, that section is re-enacted "the
previous existing bylaws. except in rela-
ton to the silver dollar, which is reduced
in weight from 41Sh grains to 1884 grains,
thus making II subsidiary coin"
Replying Harvey quoted from Kelly
May 10, 1872 1T the decentralization bin
was passed without allusion in debate to
the question OF the retention OF abandon
ment of the standard silver dollar"
Horr then quoted what Kelly said In the
leave'D, as follows "All experience has
shown that you must have one standard
coin, which shall be legal tender for all
others again call the attention
OF the house to the fact that the gentlemen
who oppose this bill insist upon maintain
ing silver dollar worth az cents more
than the gold dollar and cents more than
two silver half-dollars, and that so long as
in
silver coin in the country
The above was said by Kelly prior to the
passage of the bill. After anothefsdesser-
tatton by Harvey on the wickedness OF hu-
manity, Horr followed the demonstration
bill back to the senate and TO its final pas
sage, after being before congress for three
years. Harvey then quoted Kelly as say
ing during the debate on the bill that it !.
made no change in the existing value Of
coins. Harvey said: while the record dis
closed the intention to change the unit TO
gold. II nowhere revealed the intention to
close the miuts to silver" He further
said: The clause providing for the Ss4
grain dollar, with the right to unlimited
free coinage, was surreptitiously erased
from the bill in 1873 before II was en-
rolled"
Horn then quoted Hooper as saying dur
ing the debate This bill provides for the
making OF changes in the legal tender coin
OF the country and for substituting a legal
tender of only one metal instead, as hero
tofore, of two."
Horn proceeded: II submit TO this audi
ence there is right there In that speech
positive proof that that bill was well un-
derstood by the people who were legislating
upon 1t, Mr.. Potter opposed the bill, but
he was frank enough to state that one pro-
vision in the bill met with his hearty ap
proval. and that was the very provision we
are debating here today. No better proof
can possibly be given that that bill was.
like all the bills passed in that congress,
examined carefully, conscientiously." p
This ended the debate for the day, aid
Judge Miller announced that questions
from the audience would be now received.
Charles Coffin, of Arkansas, was the frA
questioner. He asked Horr why he ODD
posed the American people acting on the
free silver question. Horr replied that he
had never on the face Of the earth opposed
such action.
J. G. sibley, of Pennsylvania, asked why,
N the silVar dollar w Of q nor oa,s 80