Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-01-26
SENATOR MORGAN AND SILVER.


Senator Morgan, of Alabama, has
been widely advertised as an anti-Bry-
an and anti-Silver Democrat; but the
Senator has recently spoken in the
United States Senate to the confusion
OF the liars that have so reported him.
Speaking on the Currency bill o few
days ago, he said:
MIR. President, in discussing this
bill, which is the regular order, I set
out with the proposition that it does
not Affect the real Issue now before the
country whether the standard measure
Oh q dollar is 3T1A grains of pure silver
or 23.22 grains of pure gold. The dol
lar is the same, whether 1t is made OF
Sold or silver. 1t is measure, like a
yardstlck, or a foot measure, and it is
the same whether it is made of gold
OF silver, and If we adopt either or
ooth. as the measure of a dollar, the
dollar Is the same
THE real question Is, Shah we have
Dimetallism; shall we lave dollars
made of gold and also of silver, or shall
gold dollars alone be coined in the
minis, invested alone with full legal
tender power, and shall silver dollars
be denied these qualities, privileges and
powers?
The question now is. as 1t was in
1873. Shall the silver dollar be dropped
from the coinage and it's legal-tender
power depraved to the condition 1t was
placed in by the act of 1873, when 1t
was made legal-tcnder only for the
sum of $40 in one payment? Since 1873
the friends of silver money, who are the
friends OF an nnimpeached and invio-
l1hln Constitution, ho.
zeal that has never faltered to restore
silver legal-tender dollars to the people,
and they have SO far succeeded that
they have caused to be coined $40, 1885. :
55o the product of our mines, which is
now In circulation among our peo-
pie.
"Of this sum s345. 040.S47 is held in the
Treasury on special deposit to redeem
silver certificates of the same amount
rms mas been done to meet a mere
convenience of trade and commerce.
This silver coin and its representative
silver certificates stand in the way of
the Issues of notes by the national
banks. 1t occupies a field that other
wise would be occupied by national
bank circulation. and it's removal is
their fixed purpose, as 1t is the real OBJ
ject of this bill.
silver dollars circulate in the coun-
try and hold the volume of currency
at Il steady and firm standard of sup
ply. This silver money prevents the
banks from reducing the volume Of cir
culating currency when 1t is desired by
their controllers to put down the price
of property and crops. and from in
crcasinS the volume and raising the
price OF property and productions after
they have passed out of the hands of
first owners and producers.
The complete dominion over the
currency of this country will be estab-
lished by this bill in the hands of the
national banks. That must be It's lead
ing purpose. as all it's provisions lead
to that result. When this power is es-
tablished the banks will have no com
petitor In the whole field of money cir
culation except gold coins.
GOLD COINS ARE NOT. AND
WILL NOT BE IN COMMON USE BY
OUR PEOPLE.
There arc no gold coins of less size
than $3.50 pieces. AS to the gold dol
lar. that form of coinage is abolished.
Subsidiary silver coin will do the work
of trade and commerce in all minor
transactions. which. In the aggregate.
are really the major transactions, and
paper issues of the national banks will
do the rest when this bill becomes n
law.
ITO clear the field of all other paper
money competition. so as to give the
national banks full swing, this bill pro-
vides for retiring the greenback circu-
lntion of $34C, 100000. 1t destroys the
groenbaclS by changing 1t to n gold GER
tifcate of deposit. When this is done
and silver dollars are driven out, we
must find gold or national bank notes
to fill void of $3.50, 900, O0O."
This is clear and conclusive as to
Senator Morgan's status as Silverite.
He. like Mr. Bryan, has grasped the
true issue as felt and understood by
the people. 1t is TIE DOLLAR: The
silver dollar. the gold dollar the green
back Treasury dollar, against the bank
note promise to pay dollar! That is
the only great domestic issue, for the
TALK of gold is all the people will get
Of that y1ontn1t