The Mineral argus. [volume] (Maiden, Mont.) 1883-1886, 1886-03-25
TOOLE ON SILVER.
Brilliant and Sound Speech of
Our Delegate
On the Question Most Vital to
Montana's Future.
Facts, Figures and Authorities
in Convincing Array.
Silver and Gold. Twin Sisters,
the Worlds Money.
The Continued Coinage OF Sill
yer Ably Advocated.

MIR. Chairman: under the rules which
obtain here am accorded voice. but no
vote. | feel all the soliciiude for the re-
suit of your deliberations which can posi-
bly, attach TO them upon this question, and
regret that can not in some more sub
siantial way share the responsibility OF
your ultimate action speak for people
whose lives, energies. and fortunes have
been hazaided ia the development of the
mineral resources Of this country; peo-
pie who are the bone and sinew Of Ter
ritory whose valleys Of gold and noun
tains of silver have never ceased 10 swell
the volume Of the precious metals ct the
world for a quarter of a century; Terri
tory which. If measured by the grandeur
of it, mountains, the fertility of its valleys,
the majesty Of its rivers, the splendor and
utility Of its waterfalls the richness OF its
mines, the number and value Of is herds
and fiOcks, the wealth of Its forests. the
health and vigor Of it's climate, and the
intelligence, aspirations, and patriotism
of its citizens, will soon he permitted TO
take place in the grand galaxy Of Ameri-
can States, the youngest but the fairest OF
them all, when representation tere will no
longer he an empty honor and delusiOn,
but q full frnitiOn OF that sacred and inesti.
mable right. ] can not reasonably hope
to add anything of value TO discussion
that has taken such wide range and been
elaborated upon by 80 many students OF
the subject both 10 and out Of Congress;
nor would venture to claim the attention
of the House upon 90 important a measure
II IL were not for the interest felt In II by
my constituency.
The recent uiterauces Of the Executive
in his message TO Congress relating TO the
suspension Of silver coinage. in which be
has taken such decided stand against the
continued coinage Of the silver dollar, bias
invested the subject with q dignity and i'm
portance which otherwise II would not
possess. Hrs position 10 plain and unani-
biguous and needs NO construction. 1t IL
an open declaration Of hostility TO silver
% money, and rs such awakened the live.
hest interest in this country. No question
ment has elected such careful and consid-
crate attention and investigation. But,
happily for the country. as believe. II has
resulted in dispelling whatever of fear and
alarm the words Of the Executive may
have created. The highest order Of states.
manship and intelligence asserts and de-
mands that this question shall he cOnsid
cred in the relation that ii sustains TO the
whole country.
Yielding none O. the many objections
which have been fOrcibly urged against
suspension of silver coinage. my inclina-
ton leads me to consider bret fly Two prom.
inent questions involved in it.
First. Has Congress the power TO sus-
pend silver coinage under the Constitu
ton?
Second. If it has, does our position
among the nations Of the GARTH considered
with reference to our comparative silver
productions and commercial position, JUS
tify US in pursuing such couTsey
Upon the frs, proposition am in full
accord with the reasoning and conclusion
Of the minority report of the Committee
on Coinage, Weights and Measures. Re
ferring to the act demonctizing silver, the
minority report says
This act was clearly an infraction of the tru. the
DRY Of himeiaiisni, and IN conflict with the Con
stitution. II assumes that Congress should exer-
else the power of controlling the volume of money
BY prohibiting the coinage of one Of the monetary
metals recognized in the Constitution Ii, under
the Constitution. Congress has the power Ia pro-
hibit OF limit the CO mage Of silver - it has that
of gold
70 admit that it can demonetize one Of the met
ais IL to admit that II can demoneiize both there
fore, the gold monom.tallists, who are lift
in their denunciatiuns of the supreme Court fer
holding that Congress has the power to issue pa
per legal tenders, should consider the result of
their own theory of monetary science. For, il
Congress has the power to demun.iize the metals,
i must necessarily result IN exercising the author
ify claimed by the decision of the supreme Court
that il, in printing legal tenders and forcing
them into circulation.
AZ constitutional question, it Is here claimed
that Congress has no lawful HIGHT 10 Genonetize
either gold or silver but it l. the plain duty TO
provide for the coinage Of 10th AZ some regulated
value or ratio. The Constitution says 'the Con
.ress shall have power to coin money,
regulate the value thereof aud OF foreign COIN
Again, ssNo state shall make ANYTHING
hut gold and silver coin tender in payment OF
debts.
Upon The secona proposition l submit
that there are three incontestable facts
which fol bid the pursuit of policy which
will result in the decentralization of sill
yer.
First. Out Of the worlds product of
silver we are now producing about one
half. In 1884 the worlds product was
SIS, 14s ,SsS; out Of this sum the United
States produced SIS 5000
Second. According TO report Of Mr..
Williams upon the mineral resources of
the United States, a work prepared under
the direction and supervision of the Blu
reau of Geological Survey, millions Of dol
lars have been and still are invested in the
production OF this metal in the United
States. He says:
While, therefore, II IL impossible 10 reach even
an approximate estimate a. TO the actual invest
inent in silver mines, We know il 10 be a large
amount, perhaps S3n,A0,ea perhaps sJp,Nsi,-
Gu, possibly more, but certainly in excess of SlCs,
US,eo
Upon this industry alone he estimates
that j2O, 900 people are dependent for sup
port.
Third. Seventy-fvc millions worth of
gold and thirty-five millions worth Of sill
yer, according TO the report of the Director
OF the Mint. are annually consumed in
manufacture, aud the arts.
The same authority is responsible for the
statement that the production OF gold for
the preceding year was So. 292, 1863 and
that Of silver was Sl15, ,s7S. In fact,
some authorities. considered to be quite as
reliable, estimate the amount of gold used
10 the arts to be equal TO the annual pro-
ductiOn Of that metal. leaving US no mar