The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1883-03-08
STANDARD SILVER DOLLARS.
speech Of Hon. !. \. Hnscltlnc, Of Missouri
In the House Of Representatives. Friday
Feb. IN. tRaa.


speech Of Hon. I. i. Hnscitinr, Of Missouri,
In the House Of Representatives. Friday.
Feb. 10, 1883.
The House being In committee OF the
whole House on the state Of the Union. md
having under consideration the bill I'll. Il.
1,ls9 making appropriations for the legis-
lative, executive and judicial expenses Of
the Government for the fiscal year ending
June 10, 1ssi, and for other purposes. to
which Mr. lIaseltine moved ~ nm additional
section, THAT 10 per cent Of all salaricspio-
yided for by this Dill shall be paid IN stand
ard silver dollars" Mr. Hasetinc said.
The proposition have submitted is topay
one-half Of the salaries provided for In this
bill. or 30 per cent, In standard silver dol
lars. Every member Of this House IL aware
OF the fact that In the purchase
vi the silver bullion from which
| the standard silver dollars are coined
| the Government makes a profit of II per
cent | apprehend. therefore. that my
amendment will reduce the expenditures of
the Government IN that way, II In no other.
Ny amendment il proper also In that It
j proposes To utilize the standard silver dollar
and save the expense OF building additional
vaults We have reported to us from the
Secretary Of the Treasury that we have been
to nm enormous expense during past years ta
| build extra vaults TO store the accumulation
! Of silver con-Slsu,WN.WN. estimated To
weigh ], .Oo TONS and 1t would cost slntnu
| to move each million from san Francisco to
! New York
Its proposed to utilize these silver dollars
wherever we have Government officers and
creditors u pay, and IL save to the Govern
ment the expenses OF transportation, con
| strncting additional vaults for storage. mud
also the profit made upon the bullion |
submit that III that way this amendment
i does reduce expenditures.
According 10 the statement Of the Secre-
tary OF the Treasury. the coinage of the All-
YER dollars during the last year was So,
4 s.a,as5 and the increase of circulation less
| than million and n halt of dollars Under
| the present law We Will coin not less than S.l
uu,WO during the ensuing year The 1'reas-
urcrsays We now have sl.t. AS. kI. or about
/ 500 tons. equal In about ih cur loads III
NWo pounds per car. that there are S.l.
/ sSs,tfthF, nf these coins ut San Francisco.
equal ~ about It's tons, that IL costs SlNt w
for transportation 10 New York of each mill
ion transferred Ii il now nm important
! question who shall furnish storage and pay
carriage for this large accumulation of Dem
ocratic ard Republican intrinsic value spe,
Gle basis honest money! Democrats will be
quite happy i'll receiving their salaries from
that money which they have 50 earnestly
advocated
Did not the hontlholders and other credit
ors demand the credit it-strengthening act nf
lSi9. bid they not demand that their bonds
should be- paid In coin or its equivalent.
There are st1e, ON. .uO0 now due or optional
Make the bondholders and Government OH
GERS take the money they wanted We have
been to great expense to purchase the bull
ion and coin the money for them. Make the
bondholders and other creditors remove
these accumulated tons of metals Let the
Government saye the cost of storage, cart
age and the interest upon the bonds ANY
common sense business man would say pay
the interest bearing bonds and stop paying
interest II would give additional prosper
ity to the country To put this idle money
into circulation The President says;
1T is not apparent why it is desirable To
continue this coinage now SD enormously IN
excess OF public demand"
We are anxious TO comply with the credit
strengthening act, To purchase silver bull
ion With ereenhacks coin standard silver
dollars, save per cent. nat, pay the public
debt. stop interest and Increase the volume
vi money.
At the last session Of Congress we passed a
bill appropriating $4,000 tor additional
storage. The people arr tired Of this nn,
. necessary taxation To hold idle money aud
pay unnecessary interest \ resolution Ii
now before the House asking for more money
: 10 purchase more storage. Ii Is morally
, criminal 10 continue to pay these unneces
. and To withhold this money from the circu.
, lation. Yet there Is 4 large class OF capital
lists interested IN perpetuating the national
| debt i'll order To proiang the existence oi
the national banks They are opposed u
, the coinage and use of silver. and they are
opposed to the issuing IT more grecnhack
currency To pay debts. because they are IN
terested in receiving still larger donations
, Of national bank paper ami controlling TIL.
entire volume Of moneG. The bullion
lists are interested in making market foi
! their bullion They would force the pecpl.
ia shaSs hair lin fn III fA.tf
although every intelligent american knows
that the intrinsic or commodity value has
nothing To do with American money, and
, that such commodity value il an entire los
to the people when the metals are used ~,
such purposes The fiat silver dollar i
worth more than the trade dollar
, This view OF the subject il fully sustained
by the Supreme Court decision uf December
1870 IL Mallacel. These two classes oI
capitalists control all the machinery ol
] government They subsidixe the piess I,
manufacture public sentiment. they contro
party organizations: they elect themselves
or their attorneys 10 the halls OF legislation
they enact special laws in the interest II In,
7 few to enslaSe the many.
: That money is best for the American
, people which performs all th'
! funct ons of money; is the most con
, vcnient in use, costs the least to III,
producers Of wealth and taxpayers, an,
which cannot be limited or controlled u,
bullionists, bankers or other money srecu
lators AL permanent increase in tn,
: volume Of money stimulates enterprise
: gives employment to labor and makes tn
. whole country mere prosperous This i
proved by the history II AL nations in al
!, ages
I The standard silver dollar being worth \
4 cents less III commodity value to other ns
!, tions than the gold. dollar, il becomes NOR
= of a permanent money of this country
> There will he less contraction caused b,
0 foreign wars II will not he drawn to o,he
i nations or subject To any such contingenc,
: rs gold. Therefore 1t is mere valuable In
the permanent prosperity uf the American
people than gold money. As matter .
il economy We save sla.uN.OOo npon ever
|. Siuu. u.tau.NN Of silver coined.
: Business men have deposited many mill
y ions of dollars III gold coins and taken sil
n yer cerfihcates based upon this fiat silver
: This establishes the fact cf absolute gain I
\ the Governments lii We are tn use an
: metal money We should sell our gold to 9th.
: nations and purchase silver as a matter !,
u absolute gain to this country. While th
4 people cling 10 their idols We should |,
: The standard silver dollars were worth J ps
9 cent. mere than gold in lSss before the Il,
Il moneti1ation of silver.
q During the Year ending june ~ lSS
y there was coined 81, ,osa, standard silse
Cpon this amount the Government saved
!, per cent fiat. equal to Sa,iss.S .SA4l. pufin
IL the same Year there was coined in gold SS'
- ila,l4 ~ III this coinage had been stan,
ard silver dollars instead Of gold the Go'
ern,n.at would have saved in fiat $ln, ~
bia ~ LII silver certificates had been issue
upon this amount they would have bee
preferred hs business men to gold coins
), this one item Of metal coinage for only Il
. one year, ISL. we should have saved 70 Il
u people Sii. i,t>. .+kill. This amount is near
10 equal To the appropriation for rivers a,
n harbors about which the capitalistic press
!, make such a hypocritical howl The use
- greenha,ks wau Il save the entire loss caus.
D. by the purchase of metal. coinage, storag
A. carriage and wear of coins In lSSs we pa
i. 81, 80, asa for silver bullion and sS.t Al;
!, ia.N for gald bullion, making
~ all stla. .ldd.ssoa paio for silv
N and gold bullion. also the expense of 81
tS., al ~ Tor coinage and carriage. makii
IN the sum ot Sill. HI. asS..ss, all OF which con
" ! have been saved IL the people by the use
T. greenhacks instead OF purchasing the ms
af ais
te According IL the annual report OF the
rector OF the Mint. June ~ IsSa, page |,
our geld money i'll circulation was S5t1, ,tss
iaa The intrinsi. value Of this gold mon
Of Is II per cent greater than that of standa