The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-31
Sherman'S Speech.

To tho b.NllNT VI ! NV i'''-
Senator John sherman on IN" l''n ms
onencd the National campaign tor w
Mckinney gold STANDARD party. In that
a,,oo,.h he saws; '"rhe total number ot s'l'
,.o, cellars ,oinod from 1872 To 1873 was
S.osl c2S. while the number OF t''ie '"'''''S
issued under thc coinng" act VI ''"'' wa
tHlning IA grains more silN'r '"''
old dollar. was A.sN91i ana Tue h""'''
of standard silver dollars coined under .po
nlaud and Allison act Of my was 'Ss, . ,'D
on. OF nifty -four times the nu'n'.r 80" Nn
hriorc i%T3." and again. fur h"r on I've
says: Under its provision ln,eahlms ,r'
Bland Allisou ocu the tnAtea S's'vS ~" ~
chased over ri 900 Gn uIHccN OF " ~,
mo cost of sSuS 21g2o' 1t was h"rth NJ
his enormous purchase would a. t'stu WV
dcclins of silver. but In suite 81 HlN',
.,c,dly declined In market value anu ~
the nesen. price. the loss I! thv hoN
amounts TO over sl" r~WW mt.
l'c Then aitcmp,s - r.'s s5n, '' n'o'"'wi,h
Standing the demand me tHltfu H'",,
might create for siNc' ny ~, Xxx 80 10
unlimited coinsi;". th1t W',uH m" o,id
Tho nrice Of S,lpor hullmn AM we tuu'u
rot hon to main a - the eIuaulN rrtWVrh
,hc oliver dollar Of il2. ~ unE WIN tne
sold dorar Of 22 grains or ~ me ,"ii' w.,
mater with the Bland Allison act INN q
I,J NO, raise tn. pricc Of silver a. 10 10
/ "a that OF gold As a mhtrf ~ lN''
mat law had the effcgt OF rreo', oR u
rr@ot,, demand for gold than hi. ever
L.. f~rr existed, and the Pee. II S'ln "
nrociated nj = greater r!tc man ever n
fore and although the lcihlhi l"i s,N'
cr.a, Cd hv that act was great. IN" d'mhnu
e., ,,oil hat resulted was t"nfoli greater.
Now why" Up to ISIS tho gold CONTRACT
was not known Prior to nc pNsrtGIr 'i
hy Nr sherman nc ono had rirh, To
make contract dcmardlug payment ol
IoIlars in any other kind Of doNar iW'n
n dollar mad, legal t'ndcr by the IA" OF
,be I'nitrj Statrs or to make contract
d'mnndinE ono kind Of n legal tender uol-
lar TO tho exclusion of other legal lehue'
dollar In ,'her words. the gold ron
,ract'' vas practically unknown and il
,rroi Ru, II, IN. i''and Allison at ihcrr
was inserted an. oTc"pton 10 ne rEA
tender arali'y OF N" silver d9",t u" h
door 10 what We call aud now know NJ
"goild contracts" THAT ;aw provided mat
the silver dollar 10 he cc'rcd thcreun1tr
should he fun legal tender Tor MI h,plS
hubble and private, except where oher-
wise provided IN the contract" WHAT
was the result? The lender who ~ 81
wave IN 4 position Ia nlmc his terms vi
,h,- borrower, commenced to MAKE M
no,cs and bonds PAYABLE In gold, nnthor-
tied and invited as ne wn@' by TINS m
iou'tors execution Clause IN. n, Inr ~, tnr
Sfaies under the sanction Of this law, ~
shylock WAS allowed 20 demand the pouu
OF nesh. and he did Il From that time 20
ate bonds by the millions have been made
r,vabie IN eold. what was The inevitable
RESULT Even n contemplation or me iu-
tire maturity ~ these debts. there began
a rurh for roli and this extraordinary
demand made upon gold, which had no" .
hcpu known before. sent the price Of - .
up-or, whe, is b" SANE. sent ne prio ~
Ton. DOWN Further, f.nc" tro ,st dnv or
January ISIS the period az whicA - were"