New-York tribune., 1901-11-25
SENATOR JONES'S RETURN.
IN TO RESUME HIS PLACE IN RE-
TTrrTCt< ;ANNS-BIMETALL1S
- ONLY DEFERRED.
p srGrsRArH 70 THE rR1BUSE.l ]

> u
,;,,arcr Nov. Ex-senator John P Jones'
,-,-s4a who recently announced his renun-
o a-.;on 4 Populisrn and 1G TO l and his return
-. Fepublican party. will be welcomed back
=. fold as soon as the Senate meets. and
=, -ee1,rne his old place various committees
oro the Republicans instead Of the Demo-
-s as is now the case This will leave an
,o-rant opening for the Democrats the
- Finance Committee, Senator Jones at
.sanr being the ranking member on the minor
= side Of that committee The retirement of
-,sto- Chiffon of Texas. has created another
cancv for the Democrats the most in2por-
.,,- committee Of Congress, and already there
= an active but quiet contest for both places.
o-h of The Texas Senator's are candidates, with
.a chances more favorable to Culberson than
. RaiIey Il is expected that whoever among
re vouneer element of Democrats gets this
xs;gnuent soon will become the minority leader
- the Senate-a position now filed by Senator
ro,es of Arkansas, whose leadership has NOT
,ean satisfactory to his side of the Senate and
- which there probably would have been a re-
ol, during the last Congress had the session
been longer
Senator Jones. of Nevada, expresses great
-1easure that he has been able 10 return 10 the
REPUBLICAN party He says:
have never felt at home in the other party,
,6 no. that the course OF events AOS IN
.-o-ed biretanisn as an issue 1 have no sym
arbv whatever with Democratic principles
ioined the Republican party at ITS hirlh, anu
rave never had any difference with IL except on
- coi-7eee question 1t is the only organized
Constructive force in the nation. and It's eco
n-oic policies have brought the country UP
So, 6 posi1ion among the nations OF the sec
- class to & place at the head OF the .World
r-sst powers. I realize, however. Ihal the
Republican party has not Yet soiEea 'ne
~ hi-netallisn- The settlement OF 1haI queSt
- Wv temporary in an historical sense. ana TINS
.-+Isr7ert was effected by no political party
but by unexpected developments IN nlaflhlIio
.sra- ceasing search for gold
ne.et +,e r7rasent time the worlds production of
n5 Is greater than was the combined proouct
# gold and silver when carried my nsnI 1ot
.ta restoration of free coinage 10 the extent OF
ri-ng the Republican party The develop
s1t of the gold fields Of Alaska Austraiia ano
rser parts Of the earth has given 10 the NoIiu
Mel Of that metal for all the present neeos
- urinary money. / am convinced that ths
Sld field Of Alaska has only been s sciatclleG
ss.s Ear so that We can look for an increased
--o5,7crion of gold for some time yet AS long
ss the increase of gold production keeps pace
with the increase of population or me p7t pIeS17nl
ratio of gold per capita 70 the Worlo popuie,
+inn is maintained money will be ample lor all
-he needs Of business and good times VIII con-
tnue- =. o,s sa,-.,or,
roent is reached and its production decreases
and that is inevita ble-then the whole Worlo VIII
synerjence another dreadful PERIOD OF nara
.i-ass which are always due primarily TO scare
i-v of money. That was the case IN TINS coulI-
~ between 1910 and 1850 and would nave
been the case now but for the uheHpecteu hp: ~ !.
r-easa Of gold production. The hard times OF
ISl0-'5O were relieved only by the quick la ana
marvellous development Of the California golo
Fe1ds which flooded the world with that precious
rne+ei for use as primary money, and brought
long period of prosperity. Such facts as these
prove beyond doubt the superiority OF pilile.ai
liz over a monome1allic money system IN ulaI
II estab blfshes the Quantitative rather than 'he
qualitative money theory. l do not pretend 70
saw how long it will be before goio Prouuc ;ii
-, bags, 10 decrease and the world again VIII
suffer from currency contra ction, but 90 know
-,ten that occurs the issue OF blmetaIIsnl-
+ta o,1antitarive rather thar the quahtaIlNe
theory of noney-wiu again become alive ana II
represSible.