Daily Yellowstone journal. [volume] (Miles City, Mont.) 1882-1893, 1886-03-18
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.

Mr.. Chairman: under the rules which
obtain here am accorded voice. but nc
vote. feel all the solicitude for the re
suit of your deliberations which can posi-
bly, attach to them upon this question, and
regret that can nut ia some more sub
stantisl way share the responsibility al
your ultimate action. speak for people
whose lives, energies, and fortunes have
been hazirded 10 The development Of thu
mineral resources of this country; a 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 of the
world for quarter of a century; Terri
tory which, If measured by the grandeur
of lts mountains, the fertility Of its valleys,
the majesty Of its rivers, the splendor and
utility Of It's waterfalls the richness of lis
mines, the number and value of its herds
and ilocks, the wealth Of its forests, the
health and vigor of It's climate, and the
intelligence, aspirations, ard patriotism
of its citizens, will soon be permitted Ia
take place in the grand galaxy Of AmeIi.
can States, the youngest but the fairest OF
them all, when representation here will no
longer be IN empty honor and delusion,
but full fruition OF that sacred and inesti
mable right j can not reasonably hope
to add anything Of value to a discussion
that has taken such wide range and been
elaborated upon by so many students OF
the subject both in and out of Congress
nor would | venture 10 claim the attention
of the House upon so important measure
IL il were not for the interest felt In IL by
my constituency.
The recent uiterances Of the Executive
in his message 10 Congress relating 10 the
suspension Of silver coinage. in which be
has taken such decided stand against the
continued coinage Of the silver dollar, has
invested the subject with dignity and i'm
portauce which otherwise il would mol
possess. HIS position is plain and unani
biguous and needs no construction. IL Ii
an open declaration Of hostility to silver
% money, and as such awakened the live
Hest interest in this country. No question
affecting the administration of govern.
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 be consid.
cred In the relation that il sustains to the
whole country.
Yielding none o. the many objections
which have been forcibly urged against a
suspension of silver coinage, my inciina.
tion leads me to consider briefly two prom.
inent questions involved in il.
First Has Congress the power 10 sus.
pend silver coinage under the Constitu-
ton!
Second. If it has, does our position
among the nations Of the earth. considered
with reference TO our comparative silver
productions and commercial position. jus
iify us in pursuing such a coursel
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 demonelinpg silver, the
minority report says:
This act was clearly an nfrsction of the true the
DRY of himetalism, and IN conflict with the Con.
stitution. IL 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 powe. 10 pro-
hibit or limit the co mage of silver, 50 IL has that
of gold.
To admit that Il can demOnetize one of the met.
ale IL TO admit that 1t demonetize both; there
fore, the gold monometallisis, who ale 80 swiit
in their demonstrations Of the supreme Court for
holding that Congress has the power 10 Issue pa.
per legal tenders, should consider the result If
their own theory of monetary science. For, II
Congress has the power 20 demonetlze the metals,
Il must necessarily result In exercising the author
ity claimed by the decision of the supreme Court
that il, in printing legal tenders and forcing
them into ejaculation.
AZ a constitutional question, 1t is here claimed
that Congress has no lawful right 10 demOnetiZe
either gold or silver; but II Is the plain duty 10
provide for the coinage Of 10th at some regulated
value or ratio. The Constitution says "the Con
regulate the value thereof, and of foreign coin
AGAIN, ssNo State shall make ANYTHING
hut gold and silver coin tender in payment Of
debts"
Upon The second proposition / submit
thar there are three incontestable facts
which forbid the pursuit OF a 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
$1l5. LAT. s7s; out OF this sum the United
States produced gas, SOC, 900.
Second. According TO report OF Mr..
Williams upon the mineral resources OF
the United States, q 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 10 the United
States. He says:
While, therefore, Il Is impossible 10 reach even
an approximate estimate as TO the actual invest
mept in eilyer mines, We know IL to be A large
amount, perhaps $S0000,OO0 perhaps stOOO0,.
0D possibly more, but certainly excess of sos,
000,6D.
Upon this industry alone he estimates
that $50, 900 people are dependent for sup
port.
Third. Seventy five millions worth OF
gold and thirty five millions worth Of ell.
yer. according to the report Of We Director
Of the Mint. are annually consumed In
ornameniation. manufacture, and the arts
The came authority Is responsible for the
. statement that the production of gold for
the preceding year was sos. 202, 800 and
that Of silver was $115, 147, S7S. In fact,
some authorities, considered TO be quite as
reliable, estimate the amount OF gold used
In the arts to be equal to the annual pro.
duction Of that metal, leaving N no mar
gin out Of which TO supply necessary cir
culation consequent upon the increase Of
v>rv,.,l atiou and comu,orfial intprcafn NJ the