Money: Speech of Hon. John P. Jones, of Nevada, on the Free Coinage of Silver; in the United States Senate, May 12 and 13, 1890Jones, John P. (John Percival)
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Money: Speech of Hon. John P. Jones, of Nevada, on the Free Coinage of Silver; in the United States Senate, May 12 and 13, 1890
Jones, John P. (John Percival)
Silver question -- Speeches in Congress
LONDON, _May 6_.--The friends of silver deeply regret the death
of Senator Beck, whose services in the cause of monetary reform
are warmly appreciated on this side of the Atlantic. The
bimetallist party of the United Kingdom, now including over one
hundred members of the House of Commons, attach the greatest
value to the debate about to commence in your illustrious
chamber. We fully recognize not only that the support afforded to
silver by your legislation during the last twelve years has
helped the protect the industrial world from an acute monetary
crisis, but also that the debates in Congress have served more
than all else to educate our people to recognition of the
important issues involved. We believe also that the increase and
coinage of silver contemplated by Congress will restore, wholly
or considerably, your coinage rates, and will thus make
international settlement of this complex question comparatively
easy. We anticipate further and with much confidence, that the
advance in the price of silver which must follow your action will
stimulate both the export and the other trades of your country,
and, while tending to the prosperity of your agricultural
classes, will also assist the manufacturing industries of the
United Kingdom and the whole body of our wage-earners.
Mr. Moreton Frewen, of London, an able writer on economic subjects,
whose recent work on the "The Economic Crisis" I commend to the careful
perusal of Senators, says:
It may, indeed, be affirmed, without fear of contradiction, that
legislation arranged in the interest of a certain class, first by
Lord Liverpool in this country, and again by Sir Robert Peel at
the instigation of Mr. Jones Loyd and other wealthy bankers,
which was supplemented recently by simultaneous anti-silver
legislation in Berlin and Washington at the instance of the great
financial houses--this legislation has about doubled the burden
of all national debts by an artificial enhancement of the value
of money.
Public-domain text, read in full here on John Shaqi.
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