Morris tribune., 1895-05-15
TALK OF MONEY.
Recent Utterances Upon the ALI
Absorbing Question.
Hansbrough CritIcises President Cleveland
Jones ON the International Monetary
Conference-Morton and Cherry
Stewards Sarcasm.
DEVILS LAKE. N. D., May s.-After
reading President Clevelands to Gov.

Tedd1uQ ET6SlQGuV OlcVc1duQ,b 10 OOt.
Stone, Senator Hansbroughssaid:
..This is the first time In the history Of
this country when president has
threatened to remove all federal of
dcials who do NOT sink their opinions
as free born American citizens and In
dorse the personal policy Of the executive 1t
shows the desperation OF the men who are bat
thing to sustain the gold standard. The friends
OF honest bimetallism hope that Mr.. Cleveland
will write another letter."
WASHINGTON, May SENATOR Jones,
of Arkansas, is among those who be-
lieve that the international none
tary conference will be held dur
ing the present year to consider the
relationship of silver to gold as a
money metal. He is one of the mem
bers on the part of the senate chosen
to attend the conference in case one is
called, and has naturally kept track
of all that has been done in the matter.
WASHINGTON, May 9.-Secretary Nor
ton has written a letter to James A..
Cherry, of Denver, in reply to letter
from that gentleman criticisiDg some
statements in the interview with the
secretary of agriculture.
Mr.. Morton says that st appears you
and I perfectly agree on the funda-
mental point = namely, that demand
and supply inexorablY regulate all
valuables whatsoever, at all times and
in all places" He then ikens 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 theoposition.
'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
thequestion rhetorically asked: What
is the sense Of clamoring still for 'un-
limited coinage when the treasury
cannot get rid by hook or by crook
of tthe of those already coined and
lyingip useless heaps?"
stewart Is Sarcastic.
WASHINGTON, May 9.-United States
Senator William M. Stewart, of Neva-
da, wrote third open letter to Presi-
dent Cleveland Tuesday. TWAS very
sarcastic in all it's utterances, and was
IN answer to the presidents letter to
Gov. Stone, of Mississippi. "Your
tgratment 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
holders must not be surprised if they
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: 1.-THE
originality of your discovery that the
south favors silver recommendation,
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 monometallism
Originally discoyered by the senator
from Ohio Mr.. Sherman), he continues
with the remark: "The honor and ad-
vantages of gold recommendation ex-
clusive1Y 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
taught by Jefferson and his deluded
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
welt in the past while secrecy was the
road to 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
wages for those who produce. and more gain and
ecuted by the power you command. while the
trimmers and dodgers OF the republican fold |
are COMPOUNDED and paralyzed by your boldness |
and DASH
DENVER, Col, May 1O.-James A.
Cherry has mailed a reply to the letter
addressed to him by Secretary Morton,
given to the public on Tuesday. He
informs the secretary that his letter
has not given him the information on
the silver question he had hoped it
would. It 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.. Cherry
continues:
Ibid the fall OF silver from 1873 to 1893 cause
the Legislation of 1873? You ask what sent
silver down in 1898 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 It. Again. the senate Of the |
United States passed bill In 1891 which I
provided for the free coinage of silver
IN this country It was believed that the |
bill would pass the house and probably be |
signed by President Harrison and become law.
Silver jumped within week from about % |
cents an ounce to 81. ~ an ounce. That rise,