The Globe-republican., 1896-08-20

Countries Of the world Germany in 1871
changed its standard from silver to gold
France. Italy, Switz ,rland and Belgium lad n
1Ssa entered into treaty called the Latin IN
| which the coins Of each Of these countries an
received and paid BY all OF them. This i'm
portant arrangement was hrst modified and
finally abandoned and gold became the stand
ard OF values OF these countries. but in all. sill
Yer was coio ard largely used a. . subsidiary
! coin p ecis'ly as in the United StateA
Mr. Sherman hers sketched At con-
| siderable length the history of the
| Bland-Allison act of 1875 and the
Sherman purchase act and its repeal
Referring to the bimetsllic declars-
tion in the repeating act declaring it
to be the policy of the United States
to always maintain the parity Of gold
and silver, he said:
This dec aratioa, made by Congress and ap.
proved by the president at a time when tas
public mind was entered upon tho silver Ques-
ton. is a wise statement of public pollc7 that
ought t. be acted upon without regard to par
| ty divisions This bill passed House of Rep
| resentatives fresh from the people By a vot, OF
2S yea, and lis nays and the Senat, b. the
| vote OF a3 yeas ag ainst 8, nays. This act was
not party vote. but it il, l believe the ex-
preston of opinion of a majority Of the two
great parties of the country.
And here, fellow citizens, We ought to stand
| appeal to Democrats and Republicans alike
We are all interested in having a sounl and
| stable currency founded upon gold and silver
| We cannot by law fix the value of either metal
or coin o: Of any Of the articles that enter into
the W" ITS of life
"W> lad July 1, last, in a.tual cirs ulation
among the people OF the Unit,d states. 81. .509, :
72I,?". as stated by this report of ths treasury
depart nens We had also at that date :65t,.
1898 in the treasury, mostly gold and silver.
held for redemption Of United States notes and
| silver certificates. All these forms Of money
have boen maintained by tn, government at
world without diminution OF their purchas ing
power. Though silver bullion has fallen to
nearly one half ~ former value yet We have
used it AMI maintained silver coins made from
It at parity with gold at the ratio Of 16to l.
But now We are brought face to face with .
proposition w'-;ch, + 2greel TO- WI make sill.
yer tn, ,le t .nda:d Cf valus 70. all d b 3 and
credits. %: the wage, OF l,bo. and tn, pur-
chase and s.le of property II tho frcs coinag,
of silver is authorized th,n the n1r get va ue
of silver bullion becomes tn anda-d t f,r pay
me ITS On Il contracts M lae in the past the
present tn, future and 4I2x grains Of
s:andarI silver b Illion, worth now cents,
can, witt free coinage, be coined into n dollar
upon the demand OF any holder of such b .llion.
ma; a;1tain i:s relative value W til goli. TNs
government stamps it This is a aoilar' Its
purch sing power Ia fifty three cents but its
debt paying power is one dollar Of debt 1t it
the doctrine OF tho opulist and Anarchist
but 1t Is In direct opposition to the traditional
policy of Jefers IN, Andrew Jackson and the
Democratic party.
1T IS sometimes said Of creditors that they
are blood thirsty Shylocks, aristocra,s, blood.
suckers extortioners. 1t may be that there
are among money lenders some m N who merit
epithets, but the great body of the creditors of
our country ar, among the thrifty, industrious
and intelligent mon and women of every COM
munity.
.'One great body of or Editors here is the 60.
0)O Unio1 soldicrs, their widows and orphans,
who are creditors of the United States to tho
amount OF over S1i0,0O.0o0 a year for s,rvi :es
ana sacrifices in the Union army. 1t would be
an act of perhdy and meanness beyond express
sion for this great country to pay them with
money OF less purchas ng power tn n gold roin.
merely because the overproduct;on of silver in
the United States has re luced the market value
of silver bullion contained in a silver dollar.
To take advantage of this decline in order to
reduce tho value of the pittance to those pen.
sioners is worse than to rob the graves of the
dead.
by far the greatest injury resulting from
the free coinage of silver will fall upon the
money of the highest value upon gold coin of
standard value. Under freo coinage of silver
the value of tho silver dollar will fall to fifty
three cents in gold, as l have already said,
the l0o cents Of the gold dollar will be worth
1sa cents OF the silver dollar. With free COIN
ago of silver every working man csn ard ought
to demand enough silver for his daily wages to
be equal to the purchasing power Of his pres
ent wages in gold The struggle between
workingmen and employer will then commence
AMI no one knows botter than the workinyman
how difficult it is to get an advance of pay We
have strikes and strif,s enough now. when the
working man gets his pay in gold coin. or its
equivalent. but what will be the condition
when he is paid in cheaper money OF the same
nominal amount but Of less purchasing poweri
Every sentim mt OF justice will be on the side
Of the workingman Ia his struggle for GOOD
money or increased wages in cheap money.
OF all the evils which a government can in
dict mono can be greater than cheap mon.y.
whether OF coin or paper That dollar is the
best dollar that buys tho largest quantity of
food and clothing That dollar Is the gold
dollar. for it buys moro food nd clothing than
any other dollar and will also buy a silver dol
Lar for fifty-;hree cents il tho COMA 20 of silver
u m'de fr"e at the ratio of II to Of gold.
Experience has shown that the U-ited
States gar make the silver DOR buy as much
- the gSld dollar. but It can only b, done by
and coming j. into dolars ON government ac-
ooant 1his has been tried.
This matter Of tn, free coinage Of silver and
the degradation Of tho standard OF value in
wolves not only Ques ions Of money. but OF
honor apd good faith. When their honor is in.
volved, the people never fail to respond They
have complied with every promise and pail
every debt contracted since tho organixati
OF the national government. ~ it became dua
They have paid four-ffths Of tho debts con.
tractsd during the civil war, and the prospect
vas hopeful that all of it would be paid before
the clio OF this century. but this reversing
our standards OF value has, like the fro bell at
night startled and alarmed our people"
Let n, settle it b! following the action OF
Washington. Hamilton. Jeifessoa. Benson.
Hunter. Lincoln md Grant. Let us maintain
silver and gold at par With each othsr at the
legal ratio Of Is to until conference among
nations can prescribe common standards OF
value In the meantime let No act b, done.
10 policy b adoDted. noexpedi.nt seso.ted 70
that viii tarnish The honor Of the srsaa repob.
Ne."
Assassinated By AooosAiaera
LrTTLx ROCK. Ark. Aug.-News Of