The Argus. (Rock Island, Ill.) 1885-1886, 1886-04-20
SILVER COINAGE.
Able Speech on the Subject by Hon.
William II. Neece.

under the consideration of the Forty
ninth congress. was intelligently and
forcibly discussed by Hon. William II
Neece. on Saturday. April 3rd. We
copy from the Congressional Record.
The house having under consideration
the bill (H r. 5000 tor the free coinage
of silver. and for other purposes
Mr.. Niece said:
Mr.. SPEAKER: Could vote have been
taken on this bill to provide for the free
coinage of silver during the first three
weeks OF this debate | would have con
tented myself with voting and should not
have said word, but as this question has
undergone so many different phases feel
as though could not content myself
without giving my views.
| can see no reason for the suspension
of the coinage of silver as suggested by
the enemies Of silver. Ii the argument
is true that silver will not circulate, y
then there is but one conclusion, and that
is to suspend, There is no reason for
this government using $2.000,00O a
month of the peoples money to buy sill
yer bullion and go to the expense of
coming if it will not circulate. if it is to
lie idle in the treasury II that be true
the question is settled in my mind. The
suggestion Of the secretary of the treasury
should be adopted at once, for every
month you are taking the peoples money,
wrung from them by taxation and invest
ed in dead commodity; it is simply tax
ing from circulation that amount of
money and placing it out of circulation
And grant you that to the extent that
this silver money coined under the Bland
act lies idle in the treasury. where it is
not retained by the govern ment to meet
some demand. it is nm injury and wrong
to the taxpayer and to the prosperity of
the country.
Is it true that silver will not circulate
that the people will not have it; that the
people will pay more to return it into the
to pay to get it out, as has been stated
on this floor during this debate? | say
VI that be tue, suspension should follow
at once.
Who is it that viii not take this mon
ey2 Has there been an honest effort to
pay this money out on the debts and ey-
penses of the government? In order to
determine this question / do not think il
necessary to 20 back of the first bank
that ever existed and the conditions of
the finances of other nations at various
periods do not afford much light on the
subject unless il is shown that the cir
cumstances then were similar to the cir
cumstanceS and conditions of things now
| think we will get more light on the sub
ject by noticing more particularly the
conditions and circumstances Of the pres
ent day and of our country and people
What are they? We are divided into
two classes, debtor and creditor, tax pay
ers and tax receivers. Our duty is Ia
honestly leglslate for both. We should
have honest laws and honest government,
and alsO-which is so often repeated by
those who favor uspension-hOnest
money. The law should protect each
citizen, without favoring one at the ex
pense of the other.
Honest money is that kind which is
created by congress, the only power that
has the right under our constitution to
make or create money. 1t should be Of
that character that will circulate as money
among the people; it should meet the
wants of commerce and trade; it should
pay the debts of the government and OF
the individual alike. There should not
be two kinds of money unless they each
fulfilled the same object in the sight OF
the law No money should be created
unless 1t is made full legal tender for
all debts, both public and private. When
that is done | care not whether 1t is made
OF gold, silver. or paper. | believe that
in government like ours. with our peo-
pile Of so many different fances, doing
business in So many different ways, and
who are so well adapted to doing bust
ness with the whole world and our pros,
perity So greatly depending upon OUT
trade, commerce, and intercourse with all
nations of the earth, we should foster and
keep in circulation gold, silver and
grecnbacks to be made full legal len
der for debts, both public and private
am IN favor of encouraging business
and trade with the whole world, and thai
kind of money that will best serve the
ends of trade and commerce at home and
abroad, and we should have it in suffi,
Gent quantity to meet the legitimate
wants of the people.
He here refers to a table, taken from
the United States silver commissions re
port of 1877, showing the standard n
md ,aAnrlat;ap IF
countries. These estimates show tina
over 10000, 900 people have adopted
silver as the sole standard of money, and
over 10000, 900 have the double stan
dard gold and silver thus constituting q
total of more than 900, 900, 900 who use
silver as a standard money. Only o.,
So0,0oO have the single gold standard
Continuing, Mr. Niece said;
We are the producers of silver. Nearly
one half of the silver of the world i.
produced in this couatry. Now, as !
think 1 have shown that great majority
of the ye0ple of the world use silver as
their money, and as our country produces
both silver and gold in large Quantities,
would it not be unwise for us to adopl
gold rs the exclusive money of this coun
try and thereby deprive the people of lht
great advantage of making money out oil
silver, which is so beneficial in our for.
eign trade and commerce? That polio,
means simply contraction of our com
mercial relations with foreign countries.
The argument that England. Germany
and France have adopted, gold as theil
currency does not hold good with us
They have to purchase large proportion
of their bullion from abroad which they
use in manufactures and the arts, as wei
as what they use in making their money
and therefore il is to their interest to de
everything in their power to make tina
which they have TO purchase abroad a:
cheap as possible, but insomuch as WI
have large quantities of both gold ant
silver bullion to sell to foreign countries
why is IL not to our interest to keep it up
Now, as the argument is made by those
who favor suspension, that silver viii