"Gold is a wonderful clearer of the understanding; it dissipates
every doubt and scruple in an instant, accommodates itself to the
meanest capacities, silences the loud and clamorous and brings
over the most obstinate and inflexible. Philip of Macedon refuted
by it all the wisdom of Athens, confounded their statesmen, struck
their orators dumb, and at length argued them out of their
liberties."
--ADDISON.
SPEECH
OF
HON. JOHN P. JONES,
OF NEVADA,
ON THE FREE COINAGE OF SILVER;
IN THE
UNITED STATES SENATE,
MAY 12 AND 13, 1890.
WASHINGTON.
1890.
SPEECH
OF
HON. JOHN P. JONES,
OF NEVADA.
On the bill (S. 2350) authorizing the issue of Treasury notes on
deposits of silver bullion.
Mr. JONES, of Nevada, said:
Mr. PRESIDENT: The question now about to be discussed by this body is in
my judgment the most important that has attracted the attention of
Congress or the country since the formation of the Constitution. It
affects every interest, great and small, from the slightest concern of
the individual to the largest and most comprehensive interest of the
nation.
The measure under consideration was reported by me from the Committee on
Finance. It is hardly necessary for me to say, however, that it does not
fully reflect my individual views regarding the relation which silver
should bear to the monetary circulation of the country or of the world.
I am, at all times and in all places, a firm and unwavering advocate of
the free and unlimited coinage of silver, not merely for the reason that
silver is as ancient and honorable a money metal as gold, and equally
well adapted for the money use, but for the further reason that, looking
at the annual yield from the mines, the entire supply that can come to
the mints will at no time be more than is needed to maintain at a steady
level the prices of commodities among a constantly increasing
population.
In view, however, of the great divergency of views prevailing on the
subject, the length of time which it was believed might be consumed in
the endeavor to secure that full and rightful measure of legislation to
which the people are entitled, and the possibility that this session of
Congress might terminate without affording the country some measure of
substantial relief, I was willing, rather than have the country longer
subjected to the baleful and benumbing influences set in motion by the
demonetization act of 1873, to join with other members of the Finance
Committee in reporting the bill now under consideration.
Under the circumstances I wish at the outset of the discussion to say
that I hold myself free to vote for any amendment that may be offered
that may tend to make the bill a more perfect measure of relief, and
that may be more in consonance with my individual views.