Republican Responsibility for Present Currency Perils
Republican Responsibility for Present Currency Perils
Perry Belmont
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Next to the President, Mr. Sherman is the chief per- son in the present McKinley administration. An exami- nation of the public record of both will be useful now. Mr. McKinley entered Congress in 1877. He forthwith began to vote to modify the Republican coinage law of 1873, and to restore silver dollars. A special session of Congress was called to meet on October 15, 1877. A bill was presented to the House of Representatives for the free and unhmited coinage of silver. On November 5th Mr. Bland... of Missouri moved to suspend the rules so as to enable the House to pass the bill. The rules were sus- pended and the bill was passed, without consideration by a committee and without debate, by a vote of 163 to 34. Mr. McKinley of Ohio was recorded in favor of the bill. Mr. Garfield of Ohio was recorded in opposition. This bill was the basis of what afterward became the Bland- AUison Law of 1878. It was amended in the Sen- ate so as to provide for the purchase and coinage of $2, 000, 000 every month.
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