Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-10-05

80 $500 adonted the gold standard and our
commissioner reported that this result
was largely due TO the letter OF Mr. Sher-
Senator sherman next attempted to
easily fix by law in this country the
new monetary system so essehtiai 70 tne
success of the scheme above descrlD.eIis y
that end on the Sth of February. lo6S. ne
introduced in the Senate bill ono. 10 10
demonetiZe silver by disseminating the
coinage of the silver dollar. lie reported
this bill favOrably from the nnahce cQIl-
mittee but Senator +. d. Morgan, OF New
York. vigorously antagoniZed II IN MI
nority report. in which. after showing the
advantages to the United states OF con-
tinuing the double standard, ne sara; ~.
we have a distinctive American polcy
to work out-one sufficiently free from the
traditions of Europe TO be suited 10 OPT
peculiar situation and the genius OF our
enterprisng countrymen
From this stalwart blow by the great
merchant Senator from New York the bill
never recovered. Mr.. sherman never
again called il up. II nowhere appears
that either he or any other advocate OF
the gold standard ever denounced Sena-
tor Morgan as an Anarchist or a silver
lunatic." 1t is an interesting fact that
the first attempt TO demonetlze silver was
made by a Western Senator and was de-
feated by a Senator from New York.
A second unsuccessful attempt at the
decentralization Of silver was lnauSurated
on the 18th of April, 1870. by the lntroduc-
OF "A bill (No. Sj9) revising the laws re-
lating TO the mint. assay offices and COIN
age of the United States According TO
his statement the bill was framed in
the Treasury Department by distin-
gushed body of experts. II contained
seventy-one sections. the htteenth or
which gave a list Of all silver coins 10 be
thereafter issued ana the eighteenth OF
which OF ohibited the issuance Of any not
named therein The silver collar was
omitted from the list and the mints We're
thereby to be closed against deposits OF
silver bullion for coinage. But the hlll
contained no reference to this fact. which
might be said to appear only by not ap-
pearing Nor did Mr.. Sherman call the
attention of the Senate to this proposed
mOmeutOuS revolution in our monetary
system on the contrary, he reported
deceptive amendment TO the bill, impOs-
ing q charge OF three-tenths OF per cent.
for coinage whether the gold ana silver
deposited be coined or cast into bars ana
ingots." He vigorously supported TINS
amendment. which contained, by necSs-
sary implication, the assertion that Gnder
the bill silver bullion could still be depos-
tied for coinage, when he knew thdl sec
ton is expressly provided that II could not
No better proof could be needed that the
Senators he addressed were unaware oil
the omission by him of the silver dollar
than the fact that no one appeared 10 Cd
serve this gross inconsistency
The bill passed the Senate January lo'
ISL. but was never acted on by the HOUSE
ment for the decentralization OF silver was
the introduction in the House OF RepreSeu-
tatiVeS on the 9th of March, l0tl. OF a Dill
(No. .42O revising and amending the laws
relative 10 minis. assay offices ana com
ace OF the United States" II was intro
duced by AIR. Kelly. of Pennsylvania
chairman of the committee on colhdse,
and reported by him faVorably from ina
committee on the 9th of January, ~. lie
informed the House that II had been pre-
pared in the Treasury Department TOT me
purpose of codifying and supplying the
mint laws and he and his colleague on the
cornmittee-Mr MAYNARD. Of Tennessee
both stated that 1t was a mere revision OF
the mint laws. the only important cnanse
being the creation of mint bureau IN the
Treasury Department.
again reported with amendments tebru,
airy O. 1S12-this time by Hon. samuel
HOOPER. of Massachusetts,. lie stated tHal
The hin reduced the weight of the silver
dollar from N2lb grains to 3S4. but he did
not state that it proposed. as II dld. 10 og-
mOnetiZe silver by making the silver uol-
lar a legal tender only in sums not 10 eA-
coed So Mr. ClarksOn Potter, or New
York. however. debated that provision
which he objected to as being III timed
and he also strongly objected TO other Tea
lures of the bill. go, It'll. A.
Hooper had carefully concealed having
been thus disclosed by Mr. folte5' L.F
measure was apparently ,anahQolleqt:, ", ~
on the 2'tn OF May AOiloM 81, - ~. AZ
slumbered nearly four months MI
Hooper. in the absence OF Mr.. Potter,
again called it up for the purpose of NOV
ing n substitute. This substitute W3s
never read. Mr.. Hooper assuring the
House that II had been submitted 10 lhg
different gentlemen in the House, VINO mao
taken speciai interest in the bill. and that
in had met with universal APPRECIATION in
the form in which ne offered it. TINS l6 was
C6ntoined the provisions objected TO by
Mr. Mr., Potter. Mr.. Hooper answered every
question concerning it, but no question
was asked or statement made as 70 Ih9
silver dollar or the limitation OF Its legal
fender quality TO s.. This statement can
easilv be verified by a reference to the
Congressional Globe, part .. second $3.50 $3.50
sion Forty-second Congress pages "oN-
The hin then passed the House in the
s,,bstitute form under a suspension oil the