Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1896-05-19

the prediction that in few months
from this time the gentlemen from
Ohio Notwithstanding his assertion
that the silver dollars will be boarded
in the Treasury, will see them begin
ming to circulate in every part of the
country.
| do not wish to be understood as
taking the position that the Secretary
of the Treasury may not acquire and
use silver coin for the purpose of re-
Stunning specie payments in case the
resumption law shall not be repealed,
} for | maintain no such proposition.
} My purpose is simply to show that
the Senate amendment, which pro-
vides for coinage on Government ac-
counts, affords him no more aid or
facilities in that respect than would
be afforded by system of perfectly
free and unlimited coinage on private
account Under either system he
might acquire the silver coin for that
purpose in two ways. First, by set
ting it apart out of any surplus rev.
enues that might come into the Treas
ury: and, secondly by issuing bonds
and selling them for coin-not bull
lion-in the market. Every gentle
man who reflects upon the subject
will, l think, acknowledge that his
right to acquire silver coin by these
methods, and his opportunity to ac-
quire it, would be precisely the same
under the House bill as under the
Senate amendment, and if this be 30,
the attempt to draw a contrast be-
tween the two measures lie this respect,
and to convince the people that they
have been again thwarted and cheat
ed, must certainly fail, and ought to
be abandoned.
One other thing ought to be borne
in mind in this connection. If the
Secretary of the Treasury has the
right, as the gentleman from Ohio APP
pears to think he has, to issue bonds
for the purchase of silver bullion to
be coined for resumption purposes, it
is clear that all such purchases and
all such coinage must be in addition
to the purchases and coinage author.
lied and required by the amendment
under consideration, because all such
purchases and coinage must take
place under different law, and for
different object from that contem-
plated by this amendment.
This measure is not an amendment
to the resumption act. 1t is entirely
new and independent legislation up
on different subject and for diff
ferent purpose The power of the
Secretary of the Treasury to issue and
sell bonds for any purpose whatever
is neither diminished nor enlarged by
it, and to say that he will attempt to
substitute the obligations of the Gov
eminent for plain appropriation of
money is simply to assert that he will
deliberately violate his official oath
and subject himself to impeachment
and removal
Whatever he may do or omit to do
under the resumption act, he must
execute this measure, when it becomes
law, according to its true intent and
meaning. or he must submit to the
consequences. However great may
be our want OF confidence in his finan-
cial policy, and however much we
may regret his unyielding hostility to
all measures for the relief of the
country, we are not authorized, l
think, to assume in advance that he
will contumaciously refuse to obey
the will of the people when embodied
In the form of positive law. That he
will limit the purchase of bullion and
the coinage of the silver dollars to
the minimum amount specified is not
only possible but very probable: and
this is the one feature in the proposed
amendment to which have serious
objections.
The Senate has declared by large
vote that the coinage should be limi-
ted to sum of not less than $4,000
600 nor more than 100000 per
month. If the execution of this meas
ure could be intrusted to public of
ficer whose opinions upon the sub
iect were in accord with those of the
great majority of the American peo-
Pile, and whose sympathies were WITH
THE STRUGGLING MASSES who produce
the wealth and pay the taxes of the
country, rather than with the idle
holders of idle carital, the provisions
alluded to would be of but little con.
sequence, because he would coin the