New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-06
SCHURZON THE MONEY 1SSUE
THE EX-SECRETARY OF THE INTERIOR
SPEAKS IN CHICAGO.
THE DISHONESTY AND FALsITY OF THE FREE
SILVER CAUSE DESCRIBED WITH SriSlhlN"
,,>,c, ,,.y,w TUE COST WOULD

Chicago, Sept. Cal SchurZ uciNc''" an
address on the money issue here to-hlshl III
Central Music Hall before an audience oil -''oo
men end women. many going away ior iacN
of seats The meeting was under the auspices
of the American Honest Money League. Edwin
Burritt Smith presided. The audience lo"o"e"
the speakers strong anti-silver and anti-Bryan
analysis closely intcrrupting him with frequent
bursts Of applause Nh SchuIz said in part:
Fcuow-citizens: have come from the East 70 inc
,rarsne rnvsclf to be- in enemy cOuhtr!.
bdnndarics of this Republic. Wherever ! am
among Americans. am an pnG leGu 1910 ~ ~ na
common patriotism. IA his spirit Sha' ui tn
the question OF the da sm nd d nS' fs rS III
IN re are sporadic discOntcnts in the counttN'
partly genure p2ry PSd9' ,S There are farm
ers who complain of Inc low prices of 2griculturail
Iemuncritive employment; men in all sorts Of pnT-
suits complaining Of general DuS ,o Of he
ana OF ScsnrriV in The South ana West there
many people comPanns OF rS % @Tv q for " more
none is the favorite cry. These are the PRINCIPAL
ana Ins mos an npresson has ben spread by aei
tators that organized conspiracy ol mon, 49,
E EGn nG backed By the onachs and rsocr9s
Of the Old World is So King tne gene on,"noIizc
or corner the worlds money 20 the general de'r-
'nen'' THE 1ND1sPUTADLr FACTS.
Ave tbes, complaints wei founded? LOOK al facts
which nobody disputes. Tha; th're has D'eh
considerable fan in the prices OF many "Iur"S
since 1878 is certainly true But was inns I'''
caused by the so-caled decentralization OIL 'n'1
,hrorrh The act of 1879 Now not to speak OF
other periods Of oar history. such IS the por!ou
T.nrn ,sif 10 ISL everybody knows that there was
CGnsldeT@S5G Ia. 90 for instance dropp
from s. pound in 1885, 10 n- C. i' J." L., lore ,7
What Happened before lSl5 c4nho mn, nt' is clear
The shrinkagc after 1873 may therefore, nave "''"
caused by something else; ,vbo,evcr n
change i'm me prices of commodities is cius ~ H
change In supply or dom NJ. or no'h' r r II
ma rise in rrce the supply being proper tomato
short Ine spi Re bm plropor5ion:y abundant
lsut when change %. prices M, ,,.i,, mover
sennence of "A great change i'm the purcnasi3E pow ~.
change is sudden. then the erect mus ,ba, are
at least approximately 50 as 10 1 ,b. so-caicd de-
bought or sold with money II ny iIe ooI9T or the
rncnetizaton of silver in ls'S ur ' con-, dollar al
on mn # became a 2pi-cent dollar at once ana lor
,nr cen dollar for wheat and een ar doi
i5o-cent dollar for corn or for shoV''S' '''''''''7
any one 70 be facf The act Of 1873 in question be-
enc = law on the 18th Of February. h"l ~, ~
me eject? Wheat rye oats and corn rose a" I%7
the price of 1872. while cotton uo' i,, ,,,yard
"heat ~ oRr oats nd rye rose In $50 there was
general decline. In ls6 there was a oise IN iS
ana ueS' noth her rise in wheat carrying the price
ab9Te ' rh act Of lss Evidently far the 2o
cent dollar had not ade It's mark at an SUI III, l.
W, &c 1S7S having been passed i'm secret people ulI
Iot know anything about II. ana pIlces '11r,i'iFr
,nnasurablv steady In ignorance OF what Irra"l ~
s ~ hannened II So then 1t would appear
mat If the knowing ones had onlS 40 ,,o,,d n
IA t I'M doar and nobody would have been hHrt
BIt scrousy speaking. II may ne sdiu IN ' ,;," iv
'ba nc. Of 1873 was passed we were silil usl'E va,
clusivey paper money that neither GoIu no. AZ
was in circulation; and lhSSdi "' Very we'll But
tbe, In 1879 specie payments were resumed, ~; ~
taic money circulated AGAIN Ang nor resoinded in
tn,,ress ana in the country Then at last me ~,
cent gold dollar had It's opportnnniN n,nrcd9 In
iSSo wheat rose above the price OF by 20
corn cotton and oats In lssl wheal ioso d rotton
corn oats and cotton. In - NI'a ,rfo rc,orts
decred while corn ana I'd Sa,s 15 market They
~ Ssrv somewhat from reports o. farm prices
bnf they present tho rises ana ueo''H'S u '
with substantial correctness
PRICES UNAFFECTED FOR YEARS.
These facts prove conclusivcly 10 every san"
mind that for nine years after the act OF
.. tarora and three wears after the resumption
- s,acia navments-the prices of the agricultural
.tanles mentioned. being in most Instances con,
siderably above 1860. show absolutely no II ~ r
any such effect as would have been produ.ftu uiv r
.ber, bad a great and sudden change in me pur-
chasing mower OF the money OF the country an an,
Dlace: that It would be childish TO pretend WAY,
Rut for the act 1873 those prices WOuld De ~, o
"a or q or 10 per cent higher. and mat therelon
all on ,hls ,i dollar or I5O-cent dollar l25-cent
dollar is-pardon the eXpressonLaIr dd rrry
much declined alaog o5 in 1881 ssrn so TG"G in 1891 3d.
more m ot SSrber Than in 1919 But If the act OF 1913
49, bad il really ENLARGED the purchasing power
OF the doar wC' no such effect for nine years
liter lis enactment. ii would be ABSURD 20 Sds ''
II produces it twenty years ai'er us endo''''' -
hIt However there be somebody believing nat 5, IN
epi'e oi oct ~ 1s7S must in some mysterious way
I've done something to depress prices me,' nm
wnrlaanticaily demone ,ized long before 80 u,.
'Rut hear myself asked u ms Is 30, VIZ " =,
~ 1s73 passed secretly, suiiepi- louS,N
sesSy? For silver orators have been peT,''1nY
DINING into the popular ear .g' ~ si'ver doll ~
millions es ssnaied through the law Of 1913 by
dark cO5TqRi Gi I" dsproTed hat
snu,illng 70 take UP again in cc;aiI HSlA,ol
Sherman Gia x ina" only add ihat l was member Of
ina Senate at The time and know whereof ahm
ana .b c, of Is7s Being passed surreptiouy abou
senators and mem noe know oFn VIA hey wr ong
about some Engishmen being on IN, s. .o ~
,nucn and So on as wholly and unquahedly lalse
wish to be scrupul9usly courteous 20 y %po
raneous history am bound 70 ray tnat IN 1ny n
years during whlcn nave Det zen an i,1essed nor
heard OF such INSCRIPTIONS. shame.ess persS,em d
audaeous epmuSye rlgsrd 20 ne ac Of us Ks
oriein. its nature. and i,s consequences
OITCRY STARTED BY NINE OWNERS.
How did Il happen that The act Of 1913 did not
attract more popular attention a. the time? Simply
because the dropping 0. the obsolete silver dollar
from the coinage regarded by everybody taking
an interest in such matters as the mere recording OF
an accomplished fact. as matter OF course. Just
as much so as a law would nave been providing
that the od nintlock should longer be used in
the Army And how did it happen that few year
afterward such uproar arose about II? Inc
reason for that too. very simple. In 1873 tn,
market value OF silver. although already yielding
was still high The silver in the silver dollar Wa
,rar.h "a 81 The sLlNar mine oMncr 90 no, car.