River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1895-05-16
TALK OF MONEY.
Recent Utterances Upon the ALI
Absorbing Question.
The Views of Leaders on Either Side
Jones on the International Monetary
Conference-Morton and Cherry
-sfewart's Sarcasm.

Mr.. Morton says that lit appears you
and | perfectly agree on the fInda-
mental point namely, that demand
and supply inexorably regulate all
valuables whatsoever, at all times and
IN all places" He then likens the use
of the two metals in commerce to the
use of ''two yardsticks of different
lengths to measure cloth by in the
same market" and draws upon the
history of money in this country TO
support thesposition.
"Why is it," he asks, "there is so
/ little use for silver dollars in this coun-
try to-day while there are millions
upon millions of them lying idle?" He
answers his own question: Because
there is no demand for them" The
conclusion he arrives at is well put in
the question rhe torica lly asked: What
is the sense of clamoring still for 'un-
| limited coinage when the treasury
cannot get rid by hook or by crook
of a 1.-THE of those already coined and
| lying in useless heaps?"
stewart Is Sarcastic.
WASHINGTON, May Omitted States
Senator William NJ. Stewart, of Neva-
Ola, wrote third open letter TO Presi-
dent Cleveland Tuesday. 1t was very
sarcastic in all its utterances, and was
in answer to the presidents letter to
Gov. Stone, of Mississippi. Your
treatment of contumacious Office
holders" the senator writes, illus
trates the benefit of civil service re-
form when you tell them that in the
interest of good government office
hnl1nrS no S.,rrriGaA if thnxr
are summarily dealt with"
The reference in the letter to Gov.
Stone to the willingness of the south
ern people to submit to the disadvan-
tage of silver recommendation, etc.
leads the senator to remark: THE
originality of your discovery that the
south favors silver metallism,
when they only contend for the coin
age of silver upon the terms and condi-
tions applicable to the coinage of gold,
can never be questioned" and he sup
poses the president will explain in his
next letter why free coinage of gold
and the refusal to coin silver is bimet-
allism, and the unrestricted coinage
of both gold and silver is silver mon
ometallism."
Referring to gold recommendation
Originally discovered by the senator
from Ohio (Alr. Sherman). a" he continues
with the remark: THE honor and adj
vantages of gold recommendation ex-
clusigelY belonged to the republican
party under the leadership of Wall and
Lombard streets until you led the
scattered forces of democracy out Of
wilderness of financial absurdities
-, Icy L, 4 Il. a
associates"
The senator concludes by writing:
Fear not The Harrisons the Shermans.
the Reeds and the Mckinleys will never
be able TO rally the goldites OF the
republican side to meet the gold forces
commanded by you in the contest you
have inaugurated for the honor and emolu-
ments of sound money, safe currency and civil
service reform Their Indirect methods served
well in the past while secrecy was the
road 10 success, but will fail in the conflict
now raging while the mighty gold forces give
battle In view OF all men where the timid time
servers never appear. The hereditary rights
of the descendants OF shylock are safe in your
hands Your decree OF low prices and less
", ges for those who produce. and more gain and
less sacrifice Cor those who absorb will be ex-
ecuted by the power you command. while the
trimmers and dodgers of the republican fold
are confounded and paralyzed by your holiness
ana dash.
DENVER. Col, May Johannes A.
Cherry has mailed a reply to the letter
addressed 70 him hx Secretary Morton
given to the public or Tuesday. He
informs the secretary that his letter
has not given him the information on
the silver question he had hoped it
would. 1t does not make it clear that
values cannot be affected by legisla-
ton. whereas it has seemed to him
that legislation could affect values
both locally and generally. Mr.. Cher y
continues:
Ibid the fall OF silver from 1873 to 1893 cause
the legislation Of 1873? You ask what sent
silver down in 1893 to eighty-four cents an
ounce. Surely the fall In its value was not the
cause of legislation that preceded it. 1t was
the effect of II. Again. the senate of the
United States passed bill m 1891 which
provided for the free coinage OF silver
IN this country. IL was believed that the
bill would pass the house and probably be
sig ned by President Har Fison and become a law.
Silver jumped within a week from about "a
cents ounce - 81 IL an ounce. That rise,
remember. not confined to this country.
1t made a corresponding jumpin Europe. We
cannot get confused over the proper place to
put cause and effect in this instance.
Make silver into money, give 1t all its old
uses and there will be "a demand for it. And
what a demandi How men would work and
sweat and risk for IL, and what joy and good II
would bring the world You coin it. Mr.. Nor
ton. and give it these uses and | will furnish
the demand.
Everything is now measured in gold, and
that famous yardstick of yours and Mr.. Car
isles is getting too long The producer doesn't
get good measure for his products, the debtor
fails before such a measure and the laborer
cannot live when his labor is measured by it.
and the stick is growing and desolation keep
ing up with IL.
The silver countries on account OF gold ap-
probation are commencing to do all of their
own manufacturing With the loss OF our
manufacturing supremacy our commercial SUI
premacy Is IN danger.
These facts, when they are understood. are
likely to cause financial revolution. ulless IL
is made clear that it is not due to a mistake in
our fin tneial legislation Send more light"
CHICAGO, May 10.-As referee of the
bet made by W. ). Forrest with John
I. Hopkins three weeks ago ex-
Judge William A. Vincent has de-
cided in favor of Mr.. Forrest,
TO the effect that Coin" errs
in stating that silver was the unit
of value from 1892 to 1873. and that
the unit was both gold and silver, 37l4
grains being the quantity of silver and
24sI grains being the quantity of gold
which were to equally express the
measure and value of the unit adopted
Mr.. Vincent gave out his decision
Wednesday. 1t is quite an exhaustive
review of the subject.
WASHINGTON, May 14-Senator Mitch
ell, of Wisconsin, who has just returned
from visit to his state, says he is com
PEELED to confess there is a greater
free silver sentiment there thar
he supposed. A recent financial
publication presented the arguments
in favor of the free coinage of silver
was being read, he said, on all sides.
and was having a wonderful influence
over the people. Men he had hitherto
thought sound are now advocating the
doctrine expounded in that book. Still,
he believed both parties would do the
right thing by the time the cleo
tions came around and that sound
money would prevail in the land
Senator Mitchell said his impress
sion was that the national demo-
cratic convention would support
a free silver plank in its platform.
while it was probable that the repub-
licans would content themselves with
a statement emphasizing their friendli-
ness for silver and its coinage at a
ratio to be established by international