The representative., 1896-09-30
HOW 1T WAS ACCOMPLISHED
JOHN SHERMAN THE ARCH
TRAITOR
George G.. GOrlam, Formerly Sec.
retary OF the U. S. Senate,
Heard From.
lie Cites Congressional Records and Speeches
to Prove That Silver Was Demonetzed
in Secret.
WHERE is McCLEARY. WHO SAID 1T WAS
ALL RIGHT.

St. Louis, Sept. 12.-George c. Gorhan Is
again to the front. This time he affects to
d. enlghten the people on the ''crime of 1873
and presents letters and documents in re-
gard to the proceedings in congress that
resulted in the demonetization of silver.
Following is the communication:
Charles p. johnson, St. Louis Mo. Dear
Sir: In compliance with your request l
present the following narrative of the
steps which led to the decentralization Of
silver in the United States in 1873 and the
methods adopted to accomplish that result.
The national debt at the close of the war
was about $500, 600, the principal being
payable by law in airy legal tender money,
and the interest in coin. Certain great
banking houses in Europe-following the
example set by their predecessor in Eng
land Immediately after the fall of Napoleon
and setting an example which was followed
by their class in Germany after the Franco
Prussian war-inaugurated scheme to
greatly enhance the value of this vast OBJ
legation by making it payable in gold, and
then increasing the value of gold. This
involved two legislative measures:
1. Such changes In the laws of the United
States as would provide for the payment
of the principal of the bonds in coin only
and would forbid the payment of any por-
tion of it prior to the resumption of specie
payment in legal tender treasury notes, in
which it was expressly made payable by
the law authorizing the issue of the bonds,
and in exchange for which, when greatly
deprecated, they had all been issued.
2. The decentralization of silver in the
United States, SO that coin would mean
gold only, and the value of that metal at
the same time be greatly enhanced.
John Sherman, a senator from Ohio, be-
came the chief promoter Of this foreign
scheme. 1t was, of course, also support
ed by the American satellites of the
European houses referred to.
On May 10, 1867, being then a visit to
Paris, and having just visited London, he
addressed a letter to the United States
commissioner to the international confer
ence on coinage, weights and measures.
then In session in the former city. In
that letter. which was published he
strongly urged the adpotion of the gold
standard, and said of his own country:
LAS coin is not now in general circulation,
we can easily fix by law the size weight
and measure of our future issues The
conference adopted the gold standard, and
our commissioner reported that this result
was largely due to the letter from Mr..
Sherman.
ATTEMPTED TO FIX THE LAW.
Senator Sherman next attempted to
"easily fix by law in this country the
new monetary system SO essential to the
success of the scheme above described.
TO that end, on Feb. s, 1868, he introduced
in the senate a bill (No. 217, to demonetize
silver by disseminating the coinage of the
silver dollar. He reported this bill favor
ably from the finance committee but Sen
ator E. d. Morgan, of New York, vigor-
ously antagonized 1t in a minority report
A second unsuccessful attempt at the
demonstration of silver was inaugurated
on the 25th Of April, 1870, by the introduce
tion in the senate by Senator Sherman Of
"A bill (No. S59), revising the laws rela ting
to the mint assay offices and coinage Of
the United States" According to his
statement the bill was framed in the treas
ury department by distinguished body of
experts" 1t contained Il sections, the 18th
of which gave a list of all the silver coins
to be thereafter issued, and the 18th of
which prohibited the issuance of any not
named therein. The silver dollar was
omitted from the list, and the mints were
thereby to be closed against the deposits
of silver bullion for coinage. But the Jill
contained no reference to this fact, which
might be said to appear only by not ap-
pearing.
The third and finally successful move
ment for the decentralization of silver was
the introduction in the house of represent
atives on March 9, 1871, Of "A bill (No.
1,420 revising and amending the laws rel
ative to mints assay Offices and coinage
of the United States.' It was introduced
by Mr.. Kelley. Of Pennsylvania, chair
man of the committee on coinage, and re-
ported by him favorably from that COM
mittee on Jan. 9, 1872. He informed the
house that 1t had been prepared in the
treasury department for the purpose of
codifying and simplifying the mint laws,
and he and his colleague on the committee
Mr.. Maynard, of Tennessee, both stated
that It was a mere revision of the mint
laws, the only important change being the
creation of a mint bureau in the treasury
department..
FINALLY BECAME A LAW.
1t was recommitted Jan. TO- and again re-
ported, with amendments, Feb. 9, 1872
this time by Samuel Hooper, of Massachu-
sets. He stated that the bill reduced the
weight of the silver dollar from 4121a
grains to 3s4, but did not state that 1t pro-
posed, as it did. to demonetize silver by
making the silver dollar a legal tender only
In sums not to exceed S.. Clarkson Pot
ter, of New York, however, debated that
provision. which he objected to as being
ill-timed, and he also strongly objected to
other features Of the bill. Pending debate
the house adjourned without motion.
Hooper had carefully concealed, having
thus been disclosed by Mr.. Potter, the
measure was apparently abandoned; but
on the 9th Of May. following. after 1t had
Numbered nearly four months, Mr.. Hoop