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Show k VOL III. GRANT AND AMERICAN SILVER. HIS SPECIAL MESSAGE FAVORING FREE COINAGE. Wl All Ika Him ! Clremlailaa Wt That Caa Ba Calaad UHirat Ad-- tf Itlaaal FarllltUa far M Lata a a Wu Igaaraat of DaaoMtlulloa. There ere etill some men who Insist thsi the net demonetising silver was not sneaked through Congress in 1873. Time and again the silver advocates Lave given sutmtantlal evidence to the contrary. The late Jamee G. Blaine, who was speaker of the house of representatives in 1873, hss been quoted tlmee without number. Other Illustrious statesmen of all parties have testified to the truth of Blaine's statement that Not a member of congress knew at the time that the act of '73 demonetized silver." Neither did President Grant, who signed the bill. Here Is his special message to the senate on the day he signed the resumption bill. No fane man, after reading It, will dare to say that President Grant knew that the act of 1873 debarred silver from the mints. The message: To the Senate of the United States: Senate bill No. 1044, "to provide for the resumption of specie payments," is before me, and this day receives my signature of approval. I venture upon thin unusual method of conveying the notice of approval to the house on which the measure originated because of its great importance to the country at large and in order to suggest further legislation, which seems to me essential to make the law effective. e The provisions of the third section of the act will prevent combinations being made to exhaust the treasury of coin. With such a law it is presumable that no gold could be called for not required for legitimate business purposes. 'When large amounts of coin should be drawn from the treasury, correspondingly large amounts of currency would be withdrawn from circulation, thus causing a sufficient stringency in currency to stop the outward flow of coin. The advantages of a currency of a fixed, known value would also be reached. In my opinion, by the enactment of such law, businees and industries would revive, and the beginning of prosperity on a firm basis would be reached. Other means of Increasing revenue than those suggested should probably be devised, and also other legislation. In fact, to carry out the first section of the act, another mint becomes necessary. With the present facilities for coinage, it would take a period probably beyond that fixed by law for final specie resumption to coin the silver necessary to transact the business of the country. There are now some smelting furnaces for extracting silver and gold from the ores brought from the mountainous territories, in Chicago, SL touts and Omaha three In the former city and as much of the change required will be wanted in the Mississippi valley states, snd as the metal to be coined comes from west of these states, and as I understand the charge of transportation of bullion from either of the cities named to the mint In Philadelphia or to New York city, amounts to $4 for each $1,000 worth, with an equal expense for transportation back, it would seem a fair argument in favor of adopting one or more of those cities as the place of places for the establishment of new coining facilities. I have ventured upon this subject with great diffidence, because it is so uniwual to approve a measure as I most heartily do this, even if no further legislation Is attainable at this time and to announce the fact by message. But I do so because I feel that it is a subject of such vital importance to the whole country, that it should receive the attention of and be discussed by congress and the people, through the press and in every way, to the end that the best and most satisfactory course may be reached of executing what I deem most beneficial legislation on a most vital question to the intercuts and prosperity of the nation. U. S. GRANT. Executive Mansion, Jan. 14, 1875. 'Gn motion of Mr. 8herman, the message wks referred to the committee on finance and ordered to be printed (See Congressional Record, volume 3, congress, second part 1, Foty-thlr- d session, Dec, , 1875, page 459). The above Is not the only substantial evidence that General Grant was ignorant of the whole proceeding. Following is one he wrote two years previous to Ms Secretary of the Interior. Believing that silver might still be taken to the mints and coined free of charge, he wrote: I wonder that silver Is not already coming into the market to supply the deficiency In the circulating medium Experience has proved that it takes about $40,000,000 of fractional currency to make the amnll change nee- eexary for the transaction of the business of the country. Silver will grad-tall- y take the place of this currency FORK, UTAH, SATURDAY, OCTOBER NO. 46. 24, 1890. and, further, will become the standard Whlrk la Klcklf of values, which will bs hoarded in a SEND IN YOUR MITE. Once upon s time there was s farmer email way. I estimate that this will who was in great need of s thousand consume from $300,000,000 to $300,000,-00- 0 NO BILLIONAIRE COMBINE IS dollars, but he did not hava a single In time of this species of our cirA friend came forward and dollar. WORKINQ FOR US. I confess culating medium. said to him: "I will let you have the to a desire to see limited hoarding of money If you will give me your written money. But I want to see a limited Aa Appaal ta tha Plata fnpli ta Blip obligation to deliver to mo s thousand tka Klartlaa at Hrraa All tfca hoarding of something that Is a standbushels of either wheat or rys after ard of value the world over. Silver la Warklag far Mark Haaaa's next year's harvest." This proposition this. was accepted, notwithstanding the fact Our mines are now producthat wheat and rye were selling at a The appeal for funds which the chairing almost unlimited amount of sliver, and a half a bushel. The farmer and It is becoming a question, "what man of the democratic national com- dollar had neither grain, but he knew he shall w do with it?" I here suggest mittee has sent out to the people is one a solution which will answer for some of the most eloquent and significant could raise both on hie farm, snd tha contract gave him the advantage of years to put it In circulation, keeping documents which will appear In the two harvests in which to raise the it there until it is fixed, and then we preaent campaign. We recall the fact amount. So the contract was necessary will find other markets. (Extract from that some years ago, when Henry B. and signed, binding the written plainly a letter written by President Great to Lovering was running against Henry to deliver 1,000 bushels of either farmer Mr. Coudry, Oct. 13, 1873, eight months Cabot Lodge for congress, his commitafter he had signed the bill demone- tee appealed to the maaaes of the peo- grain, at his election, at the appointed artime. When the time of tising silver, not knowing what that ple for money. It was pointed out that rived It was found thst payment the market measure contained. See page 208, ConMr. Lovering waa a poor man and that of wheat had gone up to two gressional Record. Dec. 14, 1877). ho waa fighting the poor man'a battle. price dollars per bushel, and tha market On the other hand. Mr. Lodge waa a price of rye had gone down to one Can any one doubt the sincerity of millionaire, who could command unof General Grant? If there is let him vote limited funds for campaign purposes. dollar per bushel: and the farmer course to pay his obligation In elected for McKinley and the gold standard. The response was generous Some $600 to rye. But what was his was subscribed in sums ringing from find the man who held hissurprise obligation $1 to $5. Moreover, Mr. Lovering waa Old Klndalllin Seereedf insisted on having it discharged by the sleeted. New York Journal: A monometallist delivery of a thousand bushels of wheat A similar condition confronts Chaircontemporary quotes the Journal's reinstead of rye, and all the friends snd mark that bimetallic coinage is not an man Jones. He wants money to carry neighbors of the creditor sroee snd said on the canvass, but he finds that all untried experiment, but was an ap"Why, this man came to your rescue proved success through the greater the customary avenues are closed to when you were In trouble, and now part of our national life, and exclaims: him. The trusts, monopolies, the com- he wants to be paid honest, valuable How was it an approved success T" binations of bankers and capitalists, all grain, snd It is dishonest In you to even Did it ever for one month maintain the men of wealth are pouring their milwant to pay In rye." "But, says the lions into Hanna's coffers. Even the parity of the metals? Did it ever durfarmer, did he not agree to take either o democrats who have always ing the forty years of its existence give at my option?" They could not grain us concurrent circulation of gold and contributed to the party excheqner are but admit this fact, but still they insliver? If so. when? Did this magical now either sending their checks to sisted thst the bushel was s dishonratio ever do either of these things in McKinley's managers or supporting an est bushel and are still so Insisting Independent organisation of their own. and demanding that the farmer shall any other country? If so, where? So Senator Jones makes his appeal to nut On the very same page our contemexercise the option given him in the people. porary prints a table that ought to enhis contract, and thst good faith" senIn his address to the people the able it to answer Its own questions. that he discharge his obligaator aays: "We have allied against us requires The figures show the relative production in wheat, snd the creditor and his contest not financial in this tion of silver and gold. For the presonly the friends even insist that all men of ent century the outputs as given, forces of Europe but the subsidized brains will say so. The case Is not yet were: press, snd all the monopolies and trusts decided. Which party is right, the here at home, who are determined, If farmer or bis creditor? X. Gold. Silver. Ounces. Ounces. possible, to fix forever their relentless 1801-10- .. 5.715,627 287.469,225 59 to 1 yoke on labor for all time. To oppose Whtl Hlitnrf fraH. 1811-20- .. 3.679.568 173.857,555 48 to 1 them we must rely upon the patriotTo those of our readers who bellevo 1821-30- .. ism and manliness of heroic the plain that th 4.570.444 148,070,040 32 to 1 republican party did a great 1831-4. 6.522.913 191.758,675 80 to 1 people the toilers who create the and good act in resuming specie pay- 1841-50- .. With wealth which absorb. 12 to 1 17,605.018 250,903,422 speculators mants we submit the following bit of 1851-60- .. unlimited money in their hands, our 64.482,933 287.920,126 4tol A1. ukn from 81r Archlba,d 1860-70- .. ... 61.098.343 329,267,778 6tol enemies are printing and distributing of E 1870-9- 5 . . . 1 46,539.875 2,513,984,119 17tol misleading and untruthful statements: Pnsion of specie payments hRed Peakn emissaries are b If this table had been supplemented Bknk of England In 1797 lad to by another exhibiting the market Talus the use of an enormous amount of of the metals, It would have shown delude the people. To meet snd coun- ! Irredeemable paper money. -, docuteract we must this distribute that while in the first seventy years of waa magical. The result the century the production fluctuated ments for the dissemination of tha It terminated In a blase of glory and so enormously that In one decade only truth; wo must explode their fallacies. a flood of prosperity which has never selfour ounces of silver were produced to their misstatements and their utter since the beginning of the before, fishness. To do so we need money at one of gold, and In another the disparworld, dearended upon any nation. can from for and only hope help ity was fifty to one. the average an once, Prosperity universal and unheard of the plain people. We ask only for the nual market ratios ranged for almost every department of the empervaded to means conduct a the whole time in the neighborhood of necessary vigorous pire. 164 to 1, and never varied more than snd aggressive campaign. No matter Agriculture, manufactures and comfrom 15.04 to 1 to 16.25 to 1. It wonld In how small sums, no matter how hum. merce Increased in unparalleled ratio. ble the contribution, let the friends of also have shown that while the proThe landed proprietors were In afduction from 1870 to 1895 approached liberty snd national honor contribute fluence. can to cause. all To the the good more nearly to the mint proportions they Wealth to an unheard of extent was than ever before in the century, the overflowing treaeury of the money pow- ,mon ofer rr?ted accumulated will the oppose value of silver fluctuated between 15.57 Our Imports and tonnage exports. and 32.66 to 1. ferings of the masses, fighting to be more than doubled, and the condition "Concurrent circulation is not the free, and ask the Ruler of the Universe of the people was one of extraordinary for His blessing." test of a successful monetary policy, alprosperity Mr. notifies those Jones further was never there a though year in From 1797 to 1819 no financial cm whose he solicits contributions the that times of specie payments between 1803 and 1874 when ailver five franc pieces headquarters are at Hotel Bartholdi, liarrassments of any moment were exand gold twenty franc pieces did not New York city, and that Mr William perienced, and in vain Napoleon waited circulate together In France, and when P. St. John, the treasurer, will receive for the stoppage of Englands financial It resources. both gold and silver were not coined and acknowledge all remittances. But the resumption of specie payto be will study the effect at the French minta The real test is Interesting In 1819 the change of the flnnn ments of Will this the peodifsuggestive appeal. of value. makes It little stability ference whether one metal or the other ple respond? Or will they allow the rial system from legal tender paper to merciless Hanna to secure grip upon metal money was ruinous to all the or both be in circulation if the fluctu the national government through the industries of England. The distress atfons in value can be kept within nar row limits. Between 1837 and 1873 the election of the candidate whom he has became Insufferable, and in Mancbre ter 60,000 men, women and children gold value of 371 4 grains of pure silver bought and paid for? SENATOR UlTLER. CHAIRMAN assembled, demanded blood or bread never averaged more than $1,052 or OP THE PEOPMSS PARTY NA- and many of the people were killed lees than $1,003. The range of fluctuation was less than five cents on the TIONAL COMMITTEE. HAS ALSO IS- and many were wounded by British SUED AN APPEAL FOR FUNDS. troops. Cannot the reader who is 35 dollar in thirty-si- x Between years. years old and upwards turn to Auer 1873 and 1895 the gold value of the iran history and recall a parallel to the same amount of silver varied between IiiUb for Free Silver. In 1878 Senator John J. Ingalls ef above? 49.1 cents and $1,004. There was a greater fluctuation in a week than Kansas, made use of the following lanthere had been with open mints In sevguage In the United States senate. It KapiMkti OMalal far Stlvar. Buffalo INi Y.) Times: United States enty years. That ought to answer the should have much weight with RepubCommissioner Henry D. Fitzgerald question whether the policy of open lican voters this year: g "No people In great emergency ever mints proved a success or not, as comrepublican, who hss taken the found a faithful ally In gold. It Is the tump for the republican party pared with the one that has followed It. most cowardly and treacherous of all western New York every presidential metals. It makes no treaty It does not election since the campaign of Greeley NstahalU Wit boat Bara ala. ind Great, has come out break. It has no friend It does not befor St. Louis Chronicle: A considerable Armies and aaviea are sot main Iryan snd free silver. Not only does tray. number of people are getting up "nuttallied by gold. In times of panic snd io intend to vote for the ticket, but he shells which he who runs may read," break. It baa no friend It does not beays. If necessary, be will take the Intended to prove that the free coinage comes the and minister of ruin. tump for It. Commissioner Fltsgersld agent of silver would ruin the country, afid No nation ever fought a great war by ipoko at scores of republican meetings about an equal number are getting up the aid of gold. On the contrary, in ihrougbout western New York during similar "nutshells" to prove that the He has been the crisis of greatest peril It becomes the campaign of 88. is a standard device of the an single gold foe United States commissioner for the more than the enemy potent gold barons of lombard street. These when the battle is past 27 years, during which time hs has two kinds of nutshells resemble each In the field; but been of great service to the party. other In the fact that not even he who won and peace has been secured, gold the rlaims and of the fruits reappears stands still, sits down and thinks for victory. In our own civil war It Is Neyaaa Elertloa Kara. half an hour or so, can read them. doubtful If the gold of New York did Denver Times: A New York estimmo Mar Orerthrow the Leaden. not work greater Injury than tbs pow- - of Mr. Bryan's strength Is utterly un Catskill (N. Y.) Recorder: The people der and lead and iron of the rebels I 'rltable. Hs will be elected by voiei of this state. Major Hlnkiey, are gowas the most Invincible enemy of th 'iitslde of the Empire state. His cam-alg- n ing to support Bryan and free silver will be conducted In other states, public credit. Gold paid no old soldlr and all. they are not going to wait un or sailor. It refused the national obi: nd when the vote is cast and counted til September before declaring their gatlon. It was worth most when on n November New York will have the Moreover, if some of their fortunes were lowest. Every defes1 pleasure of recording, despite Its wishpurpose. e leaders don't like it they may gave it an Increased value. It was si: es to the contrary, something concernthrow up their commissions and take open sllianee with our enemies ing the strength and the will of the back seats. over, and all its energies were people west of the Erie canal and the evoked for our detrurtlon. Out, as Reading coal fields. And now it Is claimed that the Jawnsusl, when danger has been averted bones of civilized people are gradually The truly proud man would rather and the victory secured, gold swaggers becoming attenuated, chiefly owing to to tha front sad asserts the suprem- - wear last year's clothes than ride on the prolonged use of knives and forks. a aarAnri.aiit lilnria WHV WE OPPOSE THEM. The Difference "Conservative" Methods of Certain National Banks, as ta well-to-d- 0. - Kmt ; I : ... , life-lon- flat-foot- ed old-tim- ALL AGAINST SILVER. COAL BARONS FORCE WAGES DOWN AND PRICES UP. fat Tbay FrataaS that Thay Ara Afraid That tha Warklag Maa WU1 Ba raid la Cbaap Dalian Tka Chlaaga Trl-ka"Ordarad Ip." aa The following letter was reoently addressed to tbs Chicago Tribune. Thst paper boasts thst it answers all letters rereived. It evidently made an exception of this one for the very good reason that Its publication wo aid have opened the eyes of s large number of tha Tribunes readers We publish it thst its influences may not be lost: Editor, 8ound Money column, Chicago Tribune Sir: Its not a fact that J. rierpont Morgan, who is at the head of the gold movement In this country, and who recently made a profit of on a bond transactloi (which transaction was only made necessary because we are on s gold basi and insist on paying our obligations In gold), Is also at the head of the anthracite coal trust; which trust has recently raised the price of that article for no known reason whatever except Its own voraciousness? Is It not also a fact that Senator J. M. Thurston, one of the leading supporters of the gold party, is the paid attorney of the Union railroad, a corporation which has robbed the United States government of millions of dollars? Did not the Union Pacific make every effort possible to elect Thurston to 00 Fa-eJf- lo the senate, knowing full well thst IU rascality was about to bo exposed, and a question of restitution raised? Is it not also s fact thst tha members comprising each snd every one of tbs numerous trusts, which are fast driving competition from the field and raising the price of every article they handle, are, without exception, aetlvs supporters of the same gold party T Does It not seem strange that th variant members of these trusts, which have robbed the publle, Individually and collectively, on every conceivable occasion, should now have the Interest of s public at heartf It looks to mo that, having always robbed the workingman In the peat, they wish to continue to do so In tho future. Maybe I am wrong. I sincerely hope so. It Is with that hope in my mind and s wish to be further enlightened, that I pen this lengthy eplstls to jroq; n fairness to relying on your answer through the columns of your RICE WA8BROUOH. paper. long-sufferi- well-know- knrk. m BlrS. For a professional like Cockran to refer to the agriculturists at "farmers who labor with their jaws is an excellent lUns-traliof the pot calling the kettle black. Bourke U a bird. It would bo Interesting to know tbs exact price be was paid for his speech. Oil City Derrick: jaw-work- er on Why Nat AsataT Youngstown Vindicator: It is worthy of note thst the United States maintained free coinage of silver from 181$ to 1872, without the consent of England or any other foreign nation. SHERMANS TWO SPEECHES. Sherman's pies for labor In the senJohn Sherman's piss for labor at ate of the United States In 1878: Wo Columbus in 1896: But by far tho are producing In this country this year, greatest Injury resulting from tho as estimated by Dr. Lindennan, some free coinage of silver will fall npon Their wages are now $10,000,000 In sliver bullion. He estiworkingmen. based upon money of the highest valuer mates the total production at of which 840,000,000 will bs upon gold coin of standard value. Unsliver. Why not utilise this silver as der free coinage of silver the value of legal tender? I admit that If It Is mads the silver dollar will fall to 53 cents a legal tender, equal to gold, It being s In gold, or, as I have already said, tha metal not so valuable. It would drive hundred cents of the gold dollar will the gold from the country, snd the sil- be worth 190 cents of tbs sliver dollar. ver alone would remain. By limiting it With free coinage of silver every workto s thousand dollars in one payment, ingman ran and ought to demand ninety-nin- e transactions out of every enough silver for his dally wages to one hundred will be transacted with It. be equal to the purchasing power of And all hue I ue si between individuals his present wages In gold. The strugnot bankers, between the mechanic and gle between workingman and employer employer, between farmers and their will then commence and no one knows merchants, and all wages, and Indeed better than the workingman bow diffthousands of transactions which under- icult It Is to get an advance of pay. We have strikes and strife enough lie society broad and deep, would be in this coin. The large transactions now, when the workingman gets hla between the bankers snd those between pay in gold coin or its equivalent, bat this and foreign nations would con- what will he the condition when he ie tinue to be in gold, but the silver paid in cheaper money of the same would remain here as the coin of tho nominal amount, but of lose purchasing Every sentiment of Justice people, and the laboring man as well power? as the small dealer, and Indeed of all will be on the side of the workingman those persons who do not deal In mil- in his struggle for good money or Increased wages in cheap money. Of nil lions at a clip. I therefore, Mr. President, look upon tha evils which a government can Inthis as one of the great steps toward flict none can be greater than cheap resumption. It Is by utilising the sil- money, whether of coin or paper. ver which we produce in large amounts The question will never be settled in this country and making it a legal until you determine the simple questender as It waa. heretofore. It re- tion whether the laboring man Is enmains s legal tender in France, snd It titled to have n gold dollar if ha earns is there succetisful as the coin of ths It, or whether yon are going to cheat Gold has people. It is also s legal tender In him with something else. many other parts of Europe. France made the world respect It all the time. Is one of the great commercial nations, The English people once thought they and they have retained the double could get along without gold for a standard: and from my reading I be- while, but they bad to come back to It. lieve if Germany could go back to the With the free coinage of ellver gold deeble standard it would do it most will be demonetized. Nothing can be They believed that the more certain than thst the cheaper cheerfully. large amount of French coin nhlch had money only will circulate. The United been brought there in a day would reStates has thus far maintained its silmain. and so believing they demone- ver coins at parity with gold coins tized all the millions of silver thst had only by its exclusive monopoly of coinbeen coined all the little principalities age snd by limiting the amount, but and duchies of Germany for ages be- with free coinage of sliver there could fore and substituted gold exclusively, be no limitation. Silver bullion la recoining the French coin so as to every form will be pressed upon the maka it the coin of the empire. But mints snd with the mandatory duty this liniierlal coin must go back to its of free coinage, silver dollars will soon imperial home; and, aa 1 said a while fill the channels of circulation and tho uge, it has left that country In a con- gold dollar will be hoarded or will b dition of paralysis and prostration, not quoted and sold as a commodity at siirpftssed by Its sad condition during about 190 rents of the sliver coin. Silthe Napoleonic wars. It should be re- ver will stand as the par of value am! ceived as a fundamental fact so as to gold will be quoted at Its commercial See John Shermans speech gutde the statesmen of this country value. thst the reverse of what anus England at Columbus, Ohio, Aug. 15, 1596. always suits us. And as ths exclusive gold standard undoubtedly suits her, the double standard suits us. See Record, March 8, 1871, PoBgremtlonal pages 1472 to 1482. |