Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-08-14
IRRIGATION AND SILVER

BOTH SUBJECTS ABLY DISCUSSED
BIZ SENATORS STEWART AND
REAGAN, SATURDAY.
Brief synopsis of the Remarks made BY
the Two Gentlemen on Those Import
ant Questions-They Convince Their
Hearers That They Know What They
Are Talking About.
The district court room in the court
house was crowded with an eager and at
tentive audience Saturday night composed
of men OF all classes, assembled there to listen
to two OF the greatest lights in the United
States senate upon two subjects OF vital in
terest to this territory, and, indeed, to all
the states and territories Of the West and
Northwest. The gentlemen were Senators
Reagan and Stewart, and their themes, irrl-
cation and silver. To the former they both
felt compelled to give precedence in their re-
marks. from the fact that they were MEM
hers of the senate committee now on q tour
through the West and Northwest for the
purpose OF gathering Information and sta
tistics to be utilized in national legislation
upon the subject at the next session OF con-
gress, and additionally from the fact, pre-
sumably, that once it was out OF the way
they could enlarge with a full sense OF free
dom upon a subject with which both OF
them felt perfectly at home, and which they
-z1Izl uro - - seal, ,plor fhoir tnnUnpa
The remarks of both were eloquent upon
the subject, and pre-eminently worthy OF
the most accurate report that could be
made, and the only regret The MINER has
is that it's space is too limited for a full
reproduction OF both speeches in their en-.
tirety. " a..
REAGAN's SPEECH.
Shortly after s O'Clock Mayor Kenyon
introduced Senator Reagan and he was
warmly received by the audience. The
senator looks every inch the sturdy ex.
ponent of Democracy in a body in which
he has always been in the minority, but
never, on that account, the less disposed to
a~bnegate one hairs breadth Of the tenets
Of the faith that is in him. He alluded to
the surprise that had met their party in
finding that Montana contained the ele-
ments of becoming one OF the most valua.
BILE states in the Union, and dilated upon the
rich valleys scattered over the territory.
What these valleys and much more of a
splendid expanse OF country in the territory
might become with the improvement
and certainty that would follow irrigation
was clearly set forth. He pointed out the
necessity OF the systematic treatment OF
the subject and explained the work in
which the senatorial committee was en-
gagged to that end. He did not favor max
ing the work a national one undertaken by
the federal government, but was inclined to
adopt the suggestion OF Major Powell OF
the corpse OF q. 8. engineers in charge
OF the subject, to lay of the
country into irrigable basins and to Or
ganize the people SO to enable them them
selves to control the subject OF distribu-
lions OF water in these basins. There was
likely to be less serious trouble arising
from the plan. if left to the people Of the
several communities in the arid belt than
if left to the government OF the United
States or even to the state governments.
For this reason he advised the people here
now engaged in the formation OF state con-
stitutiors to give earnest heed to the sub.
iect OF the control OF the waters of the
future state, as a failure to do so would
produce almost fatal results.
He confessed that he was not az familiar
with the subject OF irrigation and preferred
to leave the further treatment OF it to his
friends, Senator Stewart and Major Pow
ell, both of whom had much more extensive
acquaintance with the subject than he
could lay claim to. But there was another
subject that was OF very much interest to
the people of this territory and of the
United States, and that was the subject OF
the free coinage of silver. [Applause.] In
order to make the subject comprehensive
it was necessary for him to 60 into an his.
torical review OF the matterto demonstrate
that the country had latterly been run in
the interest OF capital, of the money lords
and bondholders, and not in the interest OF
the people OF the United States. Zap.
plause.
He then sketched rapidly and forcibly the
condition of the country at the close OF the
civil war. The country had been burdened
with a large debt. An immense amount of
notes had been issued. For the welfare of
the country it was deemed necessary to
contract the volume of the currency to in
the purchasing power of money.
The plan vas devised of funding the debt
in interest bearing bonds. The law pro-
vided that these might be purchased with
the deprecated notes atpar. He explained
the method adopted. A very large
amount OF notes were SO funded in bonds
SO that those who bought these
bonds doubled their capital. If it was the
best that the government then could do it
was well that capital should be doubled.
But the effect was Immediately to build up
IN immense number of m%illiona1res in this
corntru pafnro flso &;,no C%ooLo. H:-z-l
who accumulated a fortune of three mill
ions in legitimate trade was the wonder OF
the people. But now fortunes were created
to which his was but a trife comparatively.
In olden times property was more
distributed 10 this country than in
any other under the sun. He drew a strik-
ng contrast in the condition then estah-l
ished showing how men had accumulated
almost fabulous fortunes by the way then
made possible. No man by ordinary good
in the successful pursuit of bust
ness had accumulated a fortune of a hun |
lred millions-it was not in the nature OF
that he should do SO. The present
was not SO much the result of indi-
7idual effort as OF fraudulent legislation by
[Applause.]
In 1863 q law was passed declaring that
bonded Indebtedness OF this country
'hould bepaidi in coin alone and not in legal |
These were held tt have been /
,ood enough to pay the soldiers and sail. |
'rs OF the country and the private debts |
ii indiqiduals, but not to pay off these |
ponds that had been bought at SO cents |
IN the dollar. Thus by reducing the kind
md volume Of money congress increased |
he value OF the security in the hands of |
he holders OF them not less than five hun.
lred millions and increased the debts of the |
people the same mount. The rich were
made richer and the poor poorer. The act |
vas urged on the grounds that the govern
nent must pay its debts in honest money.
n this instance, as in many others in the |
history of the world, an outrage and wrong
vas inflicted in the name OF virtue and
morality and religion. In this instance it |
Eas honest money to pay honest debts.
A grosser fraud had never been perpe-
rated. Then by act of congress it was
rovided that after legal tender notes we're
aid into the treasury they should be can.
elled. The result was to reduce the cur.
At the time the act passed there
'as five hundred millions in circulation.
At once fifty millions OF these notes were
aid into the treasury and retired. In 1873
n act was passed covertly demonetizing
liver, suspending the coinage Of the silver
ollar and leaving no silver money except
lbSidiary coin. S0 little was tho ,sf,o4 =