"Gold is a wonderful clearer of the understanding; it dissipates every doubtand scruple in an instant, accommodates itself to the meanest capacities, silencesthe loud and clamorous and brings over the most obstinate and inflexible. Philipof 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.
On the bill (S. 2350) authorizing the issue of Treasury notes on deposits of silverbullion.
Mr. JONES, of Nevada, said:
Mr. President: The question now about to be discussed by thisbody is in my judgment the most important that has attracted theattention of Congress or the country since the formation of the Constitution.It affects every interest, great and small, from the slightestconcern of the individual to the largest and most comprehensiveinterest of the nation.
The measure under consideration was reported by me from theCommittee on Finance. It is hardly necessary for me to say, however,that it does not fully reflect my individual views regardingthe relation which silver should bear to the monetary circulation ofthe country or of the world. I am, at all times and in all places, afirm and unwavering advocate of the free and unlimited coinage ofsilver, not merely for the reason that silver is as ancient and honorablea money metal as gold, and equally well adapted for the moneyuse, but for the further reason that, looking at the annual yieldfrom the mines, the entire supply that can come to the mints will atno time be more than is needed to maintain at a steady level theprices of commodities among a constantly increasing population.
In view, however, of the great divergency of views prevailing onthe subject, the length of time which it was believed might be consumedin the endeavor to secure that full and rightful measure of legislationto which the people are entitled, and the possibility thatthis session of Congress might terminate without affording the countrysome measure of substantial relief, I was willing, rather thanhave the country longer subjected to the baleful and benumbing influencesset in motion by the demonetization act of 1873, to join withother members of the Finance Committee in reporting the bill nowunder consideration.
Under the circumstances I wish at the outset of the discussion tosay that I hold myself free to vote for any amendment that may beoffered that may tend to make the bill a more perfect measure of relief,and that may be more in consonance with my individual views.
THE CONDITION OF THE COUNTRY.
The condition of this country to-day, Mr. President, is well calculatedto awaken the interest and arouse the attention of thinkingmen. It can be safely asserted that no period of the world's historycan exhibit a people at once so numerous and homogeneous, livingunder one form of government, speaking a common language, enjoyingthe same degree of personal and political liberty, and sharing, in[4]so equal a degree, the same civilization as the population of theUnited States. Eminently practical and ingenious, of indomitablewill, untiring energy, and unfailing hope; favored by nature with adomain of imperia