The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-05-10
TELLS WHEN SILVER
WAS DEMONET|zED
M'CONNELL GIVES
RECORD SHOWING POPULAR
BELIEF is WRONG

lernOr and former United States SEN
ator for this state, and one of Mos
cows leading citizens, has written
the following able article telling how
and when silver was demonetized
The article is interesting in that it
upsets the popular belief that silver
was demonetized in 1873, as we were
/ told by the populists and learned to
| believe Governor McConnells arti-
Gle follows:
| Publishers Spokesman Review
Spokane, Washington.
Gentlemen
Your paper of the 9th inst. con-
tains an editorial relative to Senator
Walsh's predictions as to silver. The
comments made by the editor are
very apropos, but there is one refer
ence which should be corrected, it be-
| ing misleading; / refer to the follow
ing paragraph: CAT that price silver
i, would again be on parity with gold
the bullion in a silver dollar would
be worth a gold dollar, as it was when
silver was demonetized by act of con-
gress in 1873" What are the facts ?
Was silver demonotized in 1873?
Now that no political issues are in
volved we should be able to approach
this subject without prejudice. AS
is remembered by many persons, dur
ing the years 1898, 1894, and 1895,
the United States experienced peri
cd of financial stringency so disas-
trous in it's effect that thousands of
persons who had always been consid-
cred of affluent circumstances were
reduced to poverty. AS conse-
quence the general public was CROP
ing for the cause of such general fl
nancial disaster, and as usual the ma
jority of the people were inclined to
believe that congress was responsible
for all the ills which had befallen the
country, and naturally that political
party in control of congress was held
responsible.
The 51st session of congress-, dur
ing which Harrison was president,
was controlled by the republicans, but
their majority in the senate was linn
tied to but four votes after the sena-
tors from Idaho had been inducted,
consequently to retain control of the
senate it was necessary that senators
Teller of Colorado, and senators
Jones and Stewart of Nevada, should
continue to represent their respective
states, but owing to the decline of
the mining industry in both Colo
RADIO and Nevada and the consequent
dissatisfaction concerning wages and
hours of labor political upheaval
was imminent, and the republican
senators from those states were cast |
ing about for some issue, other than
tariff, by means of which they could
retain their seats, and the silver min
ing industry being of prominent i'm
rtQ in G. a.
TERMED to make the coinage of silver
their paramount issue, consequently
hey blind1y asserted on the floor of
the u. S. senate, as well as through
the public press that silver had been
demonetized in 1873,
and by so doing the money of final
had been cut in two, or
reduced one half, and the purchasing
power of gold increased in proportion
)r doubled, in consequence of which
act of congress the country was be-
ng bankrupted. These arguments
we're sprung upon the country in the
our of disaster when we all were {
ooking for some explanation for our {
rouble, and as the republican sena- S
ors to whom their political follow
rs were accustomed to look for in e
ormation and inspiration, did not de- il
y any of the damaging statements S
eing made, the public, not knowing d
hat republican leaders who were d
nxious to have Teller, Jones and
tewart retain their seats on account p
f their pronounced tariff position, b
ad tacidly agreed to allow them to G.
bay the moon" with scarce inter S
upton, believed the statements, ii
hich were being made without con- OF
addiction by representatives of eth d.
; political party. The fact being tt
len, as now, but few persons knew it
lything about the coinage legisla- dt
on enacted by congress since the CT
Establishment of the U. S. mint, and W
to be expected the democratic SEN We
ors anticipating the disruption of pi
e republican organization urged pc
the fray, rather than pour oil upon VI
e troubled waters, which they m
ight have done by referring the W,
untry back to legislation enacted Ps
congress in 1878; if indeed any of ba
EN- had ever read the coinage laws W;
the United States. Open confes- by
IN is said to be good for the soul" be
i desiring that benefit 1 shall WI
ankly confess that was free. us
mage advocate and went SO far as ed
make a Speecn III tHe u. .. SeIldte I'll;
advocacy of that measure before an
lad even seen a copy of such laws. sp,
Z constituents in Idaho endorsed The
It speech, because they in common gei
n myself and nearly all western st;
n believed what was being reite- prc
ed without contradiction, that Do
lver had been clandestinely demon VIII
sed," even Bryan told us so, and we the
ling to listen to reason. fiv
is difficult today for the thought in
person to realize how he or she exc
5 made to believe that the enact sib
Mt of law by congress in 1878, of
ich for approximately twenty no
RS resulted in bringing to the cul
tied States prosperity had sud- con
ly proven disastrous. We can the
z reconcile ourselves today by ad fin;
ting that we are after all like a the
d of sheep follow some leader al the
ugh it may be to destruction. We red
owed Bryan, Stemart, Teller and in
+ type, until wiser men who had tim
en- the time and trouble to ascer-
the historical facts relative to Mo.