The Red Cloud chief., 1896-08-21
SHERMAN ON FINANCE
THE OHIO SENATOR DE-
NOUNCES SILVER.
TIT Financial History Of tho United states
Discussed at Icngth-Dcciares tina
Workingmen and Pensioners Would u,
Ruined.

COLUMNS, Ohio. Aug. tT-Thc Re.
publican Sta.e campaign opened here
Mt l o'clock this afternoon in a great
tent IN the presence, 1T is estimated.
OF 10, 900 people. At 100 o'clock, after
the usual music and cheering OF some
well known men, Governor Bushnell,
MS chairman, formally opened the ex-
crcises with II short speech, after
which he introduced United States
Senator John Sherman, who was re.
ceivcd with great cheering. As soon
as order was restored, the veteran
hnancicr spoke, in part, as follows:
Both the silver aud tar u are vital questions
OF domestic policy of equal Importance. but I
Hfopos, on TIA q coca zion to conhnh my remarks
mainly to what il Known as tho 'rn, .o,uagc ~
.iIvcr NJ the ratio " slNi,u - ~ Il silver TO
one OF COLL lhis t,sur !, thrust upon IA hy
the Democrat e pat, or, rrtlrr 10y Tao ruru.
lat u Huct ~ the Demo rattle lrirjy
'Go,d aud silver COIN. are recognize 10y all
commercial nations a. tho world a. the best
standards ot value. as ths measure Of ovpry mr.
tiele OF dssirr. of evaryihi1g that Is bou zht or
sold. These two meta's not only mcasur.
al o'hrr things, but they measure och
other. Their relative valuo constantly changes
Wv y NtdiN = ~ 'hNh'tt VI ~"
yer were worth moro than one ounce Of gold.
Now thirty one ounces Of silver can be bought
by one ounce OF gold.
I'm 1874, during the administrative ~ Pro
idsnt jackson and under the leadership of
Daniel Webster and Thomas ". Benton, Con.
gr'ts adopted the ratio at 10 of silver to- | oi
gold. by reducing the number of grams in tho
gold oDin. As silver was thus slig ,tly under
valued 1t was not largely coined Silver could
b. coined Ia France az the ratio of l. to !, AMI
The owner uf silVor bullion could sond 1t to
Fracc and have II converted into coin at that
ratio. thus receiving about 3 per cont more for
his bullion than II coined at the American
ratio Of 10 Ia :. Gold became the ouly Amer.
lean coin in circulation, and the nvowed pur-
pose of tho passage 81 the law Of 1884 was to
make gold the standard. This law. ho,rtily
approved 10y Andrew JncSson, would now DO
called The Crime ~ 1854
THE ACTION AXE IN 1858.
10 1888, upoa the rorort Of senator Hunter.
when Pierce was president and whom all
branches OF the Cover mont were under Demo
cratic control, Congress reduced the quantity
OF silver in tho fractional coin, thalf dimes,
dimrs, quarters and h,lf dollars more than o
per cont, directed the purchase Of the silver for
their coinage on government account. abolished
the law for thnir free co mage and made them
afull legal tcader for S. only, leaving gold still
practically the only full legal tender United
st tee coin. At this time tho silver dollar had
disappeared from tn, current coinage OF the
United States and was practically aud pur.
posels dcmonctized. This. ! suppose, would
now DO called the Crime of 1853 Silver was
1910 "
.I, n.,,.i, ,,., ,,ou ,s,, uho, A.. Ian
o,snn .o,,,no n.osidar, % 10 .Inso - p,,h,n
ans al r~iuistrat on in 1851, tho D,mocra,ic
party " a gold party, opposed to silver and
all forms Of paper monsy
IA, H.. 81 AZ. -. y.
90 o. Co., ,.u;a H. r.holI;or go a..
lie, GOO .IiLo h,,isLod f,om ,i,,nI.,ia,
80 ,r"d.annhI. -, m",a,a ali Snnnlai
49,. go o. q, oc, -. -;
'aS u ,.n ~ wa us
w.. 800.
,m.n, A.. - A., n,a,Jo To- 49,
10 !, n,o1coS ~. fai,h ~ ,ho n.,nn - n.''
- H. ."n I'll 49,,
H. rn;,a, &c. "a .. 1890 H. HE
$50 no,.s y, 10 an.,ios, unss;hlo ~ an !,
cn,,
~ ,s-2 y,y,s,,v -, u~r
900 "N' hn""
IN "'"'t 10 carry OUT 'h's piedgc u o'caht
necessary W ravise Tn, various coinag, laws q,
tha United State'' ms was pity nnd
vary cai"'uIy done by a OH framod IN tho
treasury department "hiie DIT houtwei' wal
secretary. II WINS thoroughly considerei by
tho exports o' uhht department ana was printed
and submitted 10 all persons In the United
states WI" "ero suipos'u'o De timhat vitt
'he COINAGE laws inc Dill containing sixty
seven sections. accompanied bJ q mass OF infor
nation tlat mis- a volume, was sent TO Con
gross April q 49,, by Secretary Boutwell,
ana its passage was strongly d.
PIN ms Dill omitted from tho CONS OF th'
'nited Hthtes INC SILVER doi'ar' prcciseiy a'
was do1e In IL ) but provided Tor the coinage
oil tho fractional part'o OF the dollar In accord
ance WIN IN" act o' that year Inc MI wa
pendihk IN ohgrcss 10. ,hrec years was care
fuly considered IN both houss' and special AT
teniioh was cai,eh 10 the omission OF thoAi Z
gram 'ilver d" lar which was never IN the oilI
az any s!as'' ana 'ne reasons Tor thi, "n'is'ior
G'vsh' IL was nha''y "etormihei az th' urR'n'
!squosto mo'npors rom 'ne iaeihc coast u
insert among ina SILVER CONF trade dollaI
continuing '' grams OF euahn' rn si''e-' Oh
uhis doila, was maae IKE we minor COINS q
loeai tehoer 'of s'' only. ihc's was out ono
sea anu nay vote on 'he bili' an" mat was or
the pToposit'oh 10 fopeh' 'h' charso ha'o o'
thc mint Tor tho coinage oil gold i 'ot'o