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
We are solemnly warned that the full remonetization of silver in the
United States would place us alongside India and the other barbarous
countries of the world. This brilliant piece of reasoning is advanced
with great confidence, and is intended to be conclusive of the argument
against silver. But, Mr. President, India is no more barbarous now than
it was in 1873--before our silver dollar was demonetized. India is no
more barbarous now than it was in 1857, when Germany demonetized gold
and placed herself "alongside" India. Neither is Germany any more
civilized now than then. We did not at that time hear any complaint,
either in the United States or Europe, that the use of silver as money
placed any one nation more than any other in dangerous affiliation with
the civilization of India. We have never heard it charged against France
that its civilization was brought any nearer that of India by the
immense quantity of silver money in France. Neither did we hear it
charged against the United States up to 1873 that we were "alongside,"
or dangerously close to the barbarous nations by our use of silver as
money.
Up to 1834 we had no metallic money other than silver in our
circulation, and up to 1850 we had much more silver in circulation than
gold. Were we "alongside" India then? Where were the wise and patriotic
men of our country at those periods? History fails to record any protest
on their part that we were placing ourselves "alongside" India or any
other of the barbarous nations of the world by our use of silver and our
recognition of its full money power. All the nations of the earth used
silver and accorded it full recognition as money equally with gold up to
1819. Was all Christendom at that time "alongside" India? When, in that
year, Great Britain sundered the silver link that from time immemorial
had kept her "alongside" India and the other barbarous nations and, for
selfish reasons of her own, arising from her position as a creditor of
all other nations, decided to recognize gold only as money, was any
evidence afforded of a sudden advance in the civilization of Great
Britain? Was the emergence of that nation from the benumbing
companionship of India and the other barbaric countries into the
glittering and refulgent light of the gold dispensation signalized, as
would be expected, by a corresponding improvement in the condition of
the people?
Public-domain text, read in full here on John Shaqi.
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