The broad ax. [volume] (Salt Lake City, Utah) 1895-19??, 1896-04-18
TARIFF AND SILVER.
THE LATTER IS THE GREAT 49,
SUE THIS YEAR.
me Most Prosoanced ProtsetIonist Mast
Admit It-soms ssraws which show
the Way the Wind l. BIowing-Divid-
ing the Parties.

ECbeUcu 80 Ouc VI inc tuOoe So-
alive Of the silver men from the minint
states. II was this fact very largely
, coupled with his astuteness as a poll
, tician, that led to his selection as chair
man Of the national republican com
mittee.
Therefore his speech in the senate OF
, the 18th ult was of the highest sig
niicance. In substance and effect ht
charged the republican party with hav'
Ing abandoned republican principles In
supporting the recent tariff bin with Its
horizontal" rise, and also with having
been guilty Of the grossest dishonesty
and fraud In It's Interpretation OF the
silver plank in the Minneapolis plat
form.
Concedins that the plank was not an
unqualified declaration for free coinage,
1t certainly did pledge the republican
party TO some affirmative legislation In
the interest of silver restoration. Upon
q platform quite similar Mr. Harrison
had been elected, and II was universally
regarded as a declaration that the re-
publican party should take a step for
ward In the direction OF silver restora-
ton.
The result was the Sherman Law"
for which every republican in congress
voted. and which was signed by a re-
publican president. II was not what
silver men wanted. but Ii was better
than nothing.
And yet In 1893. only a little more
than two years after its enactment. We
find an overwhelming majority OF the
republicans responding to the demand
OF a democratic president. and voting
for its repeal.
The last line Of legislation recogniz-
Ing silver as a money metal was thus
wiped from the statute books OF the
United States.
In brief, the democratic party pledged
to the free use OF both gold and silver,
without discrimination against either
or charge for mintage, and the repub-
hcan party pledged to bimetallism and
the use Of both metals as standard
money" have united and practically
fastened the single gold standard upon
the country.
This was the main point Of Mr.. Car
ter's speech. and Messrs. Sherman,
Hoar and Gear struggled in vain to
break its force.
II is a highly significant fact that ]
not one Of those republicans opposing
free coinage, while claiming to be b.
metallists. ever thinks Of proposing any
legislation looking toward the restora-
ton OF silver. Their bimetallism con-
sists OF opposing everything which even
sQuints In that direction. Whenever
the extreme silver men are in the as
tendency and a free coinage measure
Is In sight, these alleged bimetallists
always have some counter opposition
such as the Allison amendment in 1878.
and the Sherman law In 1890. Both of
these were substitutes for free coinage.
But when there seems to be no prob
ability Of free coinage enactment. not
step In the direction OF bimetallism
are they willing to take.
In fact, they favor bimetallism that
ID absolutely unknown in monetary
science
senator Sherman sounds the key note
for them. and. whether they agree with
him or not. they are very careful never
10 suggest any opposition. His idea of
is expressed in the follow
Ing words:
I believe that the policy of the /,
United States adopted In 1853, of coin
Ing fractional silver coins in limited
Quantities from silver bullion pur-
chased at market price, and making
them legal tender for small sums. Is
he only way to preserve the parity of
gold and silver coins at a fixed ratio
This is properly called bimetallic '
money" i
His Idea Of bimetallism Is gold as '
'ull legal tender. with free coinage of
nat metal alone. and small change in 5
diver, coined on government account p
md made legal tender for small Ii
Iums." s
II that be the correct definition n, q
then we have "trimetal-
Ism" in this country. because we also "
ave nickels. coined on government ac- d
cunt and legal tender for small sums O
In Iact' we have INSTRUMENTATION" G.
'ecause We also have cents of a differ 81
nj metallic composition. being made n
nleny OF copper. Ali OF these minor
oins are struck on government account
small amounts. and are limited legal
s sl 90 they embody all the con- Il
itions which he says are requisite for +
g.
Mr.. Sherman's idea seems to be that m
he all-important thing in a monetary b,
Tstem Is parity" II the gold dollar ps
ppreciates until It IL actually worth B,
20 In products. and the burden of debt th
increased fifty fold. nobody has any m
ght to complain II other forms Of VI
Ioney are only at a parity" with the 90
BID dollar. He apparently thinks that +,
le sole use which peopla have TO- al