Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1898-01-08

silver coin. Now. imagine how that would
have simplitied the silver question. Thess
people In the West we're used 10 the use oil
metallic money. The people Of the East
were unsccustomed to the use OF metallic
money.
Why, metallic money hardly existed for
years before the war. IL did not exist dur.
ing the war. The people OF the East had
become accustomed to paper money and
unaocustomed to either silver or gold and
| rejected the use Of both. SO that we had
| paper in the East In the brosdest use,
| whereas on the Pacific coast aud In the
mountain States the feeling was quite 10
the contrary. There they are used TO the
coin, and DO not like the paper money. /
| find that / have 10 revolu tisnize my own
| habits twice every year In The way OF be-
coming accustomed to paper and metallic
| money. go to the West and reour to the
use OF the metallic money, and l find that
| do not like to have twenty dollar gold
| pieces and silver coins in my pocket, and
after become accustomed TO them pre-
| fer them 20 paper and then after white,
on my return 10 the East, strike pap1r
| money again and have no metallic money
aud paper money is distssteful to me, for
| il seems TO be the storehouse of contsgiop
OF every kind.
Now, this is a mere matter OF habit.
Had we consulted the habits Of the West,
we would have permitted the owners OF
silver bnllion TO present IL at the mint and
receive either its coinagevalue or its market
value. according to existing legislation, in
absolute coin, receiving in the one case all
and in the other only part, the difference
between the market value and the coinage
value being retained by the government
as seigniorage. And what would have been
the result? Probably three-fourths or
more OF the bills OF the miners are for
wages. The silver coin is paid to the min
ers, who pay il to the men from whom they
obtain their supplies and the merchants
use /. In buying -four and grain and clothes
and other supplies.
Thus you would find the actual use OF ell.
yer extending TO the entire Western region,
where they are accustomed to il. and grad.
ually TO the Southern and Middle Western
States, where also they are accustomed to
IL and like il, aud you would have circu.
lation OF this currency in the region that
now most requires it, instead OF having
this silver sccumulsting in your treasury,
where it constitutes menace to the world.
For recollect that the average intellect
does not comprehend that that silver lie
constructively coined and in the hands OF
the people in the form OF silver certif.
Gates. The average intellect regards it as
an accumulation Of silver which, as re.
suit OF hostile legislation, may be let loose
upon the world and produce food OF this
money.
So, say, wise public policy would have
putyour mills near your raw products, your
mints near your mines, and the result
would have been that both gold and silver
would, from these centers OF production
and oenters OF coinage, have been spread
all over the Western and Southern and the
Middle Western region and would gradu-
ally reach the East itself and aceustom the
people there to the use OF the only real
money, the only money OF redemption.
Now we come TO the question Of what
| Justice requires at this time. Philadelphis
has thus far appropriated almost all the
coinage Of the silver and gold produced in
the West. Only recently, outside OF the
legislation relating to the Carson mint,
has favorable legislation been introduced
| relating to the Denver mint, mint which
ia not yet completed. Increased appro-
prlationa have been made for the Philadel-
phis mint. while diminishing appropria.
tons have been made for this Western
mint.
Now, gentlemen, I wish to say, with ref
| erence to Nevada, that the total product OF
| both gold and silver In the United States
bas been little less than two billions and
/ hall since 1860. and that Nevada has
produced, in almost equal proportions oi
the two metals, one-foursh OF this amount.
said 10 friend the other day, with ref
erence 10 this legislation, that ID was hard
L. f,,f ~ Saka tha mint from
| Nevada, q State which has produced one
fourth of the country's metallic stock. and
he added. thetically. "And three.
fourths OF the hell" All I have TO say
with reference to that is, thai this remon-
| STRANGE from Nevada Ia a natural remon-
| s,rsnce against legislation which has de.
stroyed the leading industry OF that State
and paralyzed II.
You can understand what this would
mean simply as an industrial question al
applied 20 the iron mills or the steel plants
OF Pennsylvanis, or TO the cotton mills and
WOODEN mills of Massachusetts. II lie q
natural and healthy and indignant protes,
against what the State OF Nevada regards al
bad and destructive legislation. Now. II
Ia true that the bullion production of that
State has declined. She ia no longer pro.
ducing silver In large quantities. There ID
no stimulus now for the production Of sill
YER. and the people OF Nevada have turned
their attention 10 gold. Already this year
1t is evident that the product OF gold will
probably be double that of last year. The
total of both gold and silver production oi
| that State ia now pretty nearly $4,000, 900,
OF which, believe. three-fifths is gold.
Here the hammer fell.
Mr.. Dookery-How much more time
does the gentleman desire2
Mr.. Newlsnds-I should like FIVE min
u.es.
Mr.. Dockery-Mr. Chairman. I ask
unanimous consent that the gentleman q
time be extended five minutes.
There was no objection, and IL was 80
ordered.
Mr.. Newlsnds-As I say, Nevada has
| produced ak hundred millions OF gold
and silver. and yet she has been permitted
TO coin at that Nevada mint only AZ, ,O0O,.
| 000 There ia to-day stored up In the
Philadelpbia mint Sl10, 1000, 900 Of silver
bullion, most Of which was produced IN
Nevada mines.
Mr.. Williams of Mississippi-I shoule
Ike to ask the gentleman question for
| information.
Mr.. Newlands-whAt Is the gentleman's