Daily capital journal. (Salem, Or.) 1896-1899, 1896-02-06
SENATOR CLARK TALKS.
Olives a Little History on the Money
Question.

/ OIL III uAOCNoohhE W.
government on the subject of silver
and the competency and Incompetence!
OF parties and persons as manifested
in legislation, the celebrated and verl
ilIomened Sherman Act arises to oul
view at every step. speak Will
habitual respect of the senator from
Ohio, but never before in the history
of the world did member of parlia
mentary body find himself compelled
TO turn, as he did, on his offspring and
assist in putting it to death. 1t
stood openly confessed as an un'
natural monster by the very author
OF its being. 1t was neither a friend
to silver nor to any other form of
sound money, and did not even pre-
tend TO be. IL was a disturber Of the
financial peace Of the country and a
standing menace to permanent busi-
ness prosperity.
do not cite this act now, however,
for the purpose Of dwelling upon 1t
at any length, nor to hold it up as an
evidence Of the wisdom or the unwis-
dom, the competency or the incompe-
tency, Of the senator from Ohio, or Of
his superior qualifications to sit as a
censor on the mental capacity of other
people in matters of financial legisla-
tion. allude to this most dlscredit-
able act in our legislative history for
the purpose of showing the clear, ex-
plIclt, and unequlvocal position which
this government assumed in regard to
the coinage and use OF gold and silver
both, as standard money, only little
more than two years ago. The act re-
peallng the purchasing clause Of the
Sherman Act is composed Of only
three sentences, and two Of them
read as follows;
And IL Is hereby declared TO be the
policy Of the United States to con-
tinue the use OF both gold and silver
as standard money, and TO coin both
gold and silver into money Of equal
intrinsic and exchangeable value, such
equality to be secured through inter-
national agreement, or by such safe
guards Of legislation as will insure the
maintenance of the parity in value OF
the coins of the two metals, and the
equal power of every dollar at all
times in the markets and in the pay
ments Of debts. And IL Is hereby
further declared that the efforts Of
the government should be steadily
directed 10 the establishment OF such
q safe system OF bimetallism as will
maintain at all times the equal power
OF every dollar coined or issued by the
United States in the markets and in
the payment OF debts. I
How like the bugle notes of the
and the laws as enacted
and interpreted by the fathers of the
republic these utterances salute our
ears! The policy here declared re-
celyed the sanction OF both houses OF
congress, and was approved by the
executive ON the lst day of November,
1899. There IL stands, and there IL
will stand forever. The doctrines
therein contained have been indors, d
and upheld by all the great names In
American history srom George WASH
ington TO Abraham Lincoln. Illus
trlous leaders of parties have differed
on all things else; but on the one
great cardinal question OF the coinage
aud use of both the precious metals as
standard money no differences have
ever existed until since the creation
OF n vast national debt and the
hungry insatiate demands Of
powerful creditor class. Jackson, Clay,
Adams and Crawford were all in the
field as rivals for the presidency in
1884, and antagonlzed each other ON
every other issue except the greatest
Of them all-the bimetalllc specie
basis for all our currency,
On this question no sound OF disa.
greement was heard between them.
General Harrison, with the battle.
helds OF Tlppecanoe and the Thames
behind him, defeated Martin Van
Buren In 1910 on cry OF hard times
and dlsordered finances, but therew,s
no note OF discord between parti,
'hen as to the Soundness or unsounC-
ness OF either silver or gold. Lincoln
and DOuulas I'm fhatr k.an l.,s.,.... ,