Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-11

aeainst which tho silver certificates
we're ispucd, and which inder the law
are held as a reserve for the rcuenp-
lion OF such certificates on demand OF
the silver certificates. that declare On
their face that there Is deposited IN the
vaults of the treasury the same hui,i-
her OF silver dollars for the rcdemp,.
lion of the certificates Issued as named
on the face OF the certificate. Inc sene-
tor certainly would not rob the silver
certificates OF their only r0deemer. pe-
cause everybody Knows that the siiysr
certificates redeemcr liveth ana apiu-
eth with the treasury until their uny
OF redemption.
II the distinguished senator could be
prevailed upon to use hts influence 10
~ hurrect and carry into effect tile I'M
repeated portion OF the Sherman act 10
coin the bullion In the treasury mo
legal tender standard dollars that
would be fun legal tender FOR the re-
demptlon OF the sherman or coin notes,
and could persuade his excollency, the
president. 10 compel his secretary OF
Inc treasury, to carry the unquestioneu
lntendment OF the law Into enect, the
country would except the cucNogp
look upon the senator as II veritapie
Statesman.
The senator makes no provision, as
I understand this bill. to secure coinod
silver OF full legal tender, with when
to redeem tho treasury notes. whether
the gold reserve falls below the one
hundred million mark or not. The senu-
tor must provide for full legal tenner
silver dollar. before he can expect 10
carry Into effect the supposed purpose
and object OF his bin. the redemption
OF government obligations ana the
prevention OF the withdrawal or tho
gold reserve by the lckelhumers and
Heldunbucks, the representatives OF
foreign banking Institutions In TINS
country.
repeat, that II the contention Is
correct, that subsidiary coins nrc a
limited legal tender land the senator's
bill provides for the coinage OF no
other) they could not be used In re-
remption OF outstanding obligations
OF the government, and that II would
be unlawful to divert the standard ST.
vcr dollars IN the TREASURY, upon which
tho silver certificates are predlcated'
for their redemption TO such uses M
the bill OF the senator seems to pro-
vide for, Neither do / believe that the
senator's bill has a ghost OF chance
to pnsa and become law. AZ the
president IN my opinion VIII veto any
measure looking to an lncreuae OF sill
! yer money In our circulation,
The time was, however. whom the
distinguished senator could have boon
OF some service to the white metal
could have done something looking &c
j the rehabilitation or Increased use ol
| silver and that was during the strng'
Rlo over the repeal Of the purchasing
/ clause OF the sherman act. Then II
was that silver needed the voice nnt
vote OF the senator to prevent for th'
future lts destruction or at least While
tho present administration II In pow
or. In the debate no senator was more
obstinate, announcing that nothlnf
would swervc him from casting hii
vote for unconditional repeal, that th'
bill 1s II passed the house should no
be amended by the crossing of %
/ dotting ~ an l. that lie proposed stand
ing by the administration In Its de
mundA and turned deaf ear to IN
appeals OF n great majority OF III
constituents, and hnrkenei TO IN
voice OF the boards OF trade and cor
poratlona OF the country. with all du
respect to the Gazette, which l salute
as the only daily paper In the stat
that champions the rights OF the pco
pie on questions OF finance, must dis
sent from It's conclusion, that the scna
tors bill ia In fact but reailirmn
ton of the law aa II standa," and suR
gest that Il Nv rather miserable max
phft. vcritRble airnddle, the vnpol
ings OF scared statesman, with hi
,,,aulur eye "a the political bnrometo
and Ope1 mouth ready TO suck pnbl
hIm for another six years from III
senatorial teat II our contention
correct there is nothing In 'he bill bt
cheap political ciap-trap. and " passe'
e cannot relieve the treasury fro
being druinod OF Its gold by the spec,
lators OF Wall street. nor ~ thore an
reasonable hope that any OF tho prom
iseh for financial reform, upon the fal'
OF which the Democracy elevated NJ
trusted the present administration, VI
, ever be redeemed until the party Shn
elect "A Democratic president who "
recognize that all the financial integI
! ~ aud wisdom In thls country In N
located ON Manhattan Island,
. j. r. BLOUNT,
The Gazette did not discuss tho col
age features Of Senator MINIS II
. which, ns far as may BIO known fro
e the meaRer press report, are accurate
! stated by our correspondent. Tho !
: quiremerft of the bin that the treasa
Z. shall pay out silver for coin notes
y a reafrmatlon of the original la
/, which In plain Language makos pi
= vision for the coinage OF silver dolla
9 for that purpose. The only slgnihca1
~ of the bill Is that II Is n fiat repud
o ton by one who has hitherto been
" OF tho strongest supporters OF the o
y mInistration, OF the treasury policy
~ paylng out gold exclusively. II has
s. chance OF passage nor would 1t, W
\ the Objectionable features pointed o
nrford any relief TO the treasury.