The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-12-12
THE WHITE METAL.
National Executive Silver Committee Issues
an Address to Congress.

WASHINGTON, Dec. 1.-THE National
Executive Silver Committee to- day issued an
address to Congress. The committee be-
leyes the present money stringency and
breaking down OF credit ON both sides OF
the Atlantic is due mainly If not entirely,
to an attempt to conduct the worlds grow
ing business on the narrowin basis of gold
as a sirgle money standard, and again ap-
peals to Congress to delay no longer the res
toration of silver TO unlimited use as money,
with all the rights of coinage and legal ten
der possessed by gold. All attempts to re-
lieve the present situation by increasing the
volume OF credit, currency or multiplying
credit eXpedience can afford but temporary
relief. With the gold supply constantly di-
minishing. the population Increasing and
business rapidly expanding recurrence of
the present situation must come, forcing a
periodical adjustment of prices and bust
ness to the ever contracting scale of a single
gold standard. What is needed is broader
basis OF primary money, constant and ade-
quate in supply. Bmetalism must be re-es-
tabiished. There never has been and there
is never likely to be in the future too much
gold and silver to supply the worlds needs
for money.
To supply the probable population of the
United States alone for the next century
with the same per capita we now have will
require production of the metals as great
as the entire production of the American
Continent since its discovery by Columbus
With the free coinage of silver the differ
ence between silver bullion and silver coin
must at once disappear and end silver spec
ulation. Ii every body can have silver metal
converted into coin free of cost, at the rate
OF 371A grains to dollar, then, of course,
there can be no difference between the value
oi given weight Of silver in bullion or coin.
The committee believes the fear that free
coinage would destroy the parity of gold and
silver on our ratio of sixteen to one is not
well founded. Certainly this cannot take
place and continue permanently until enough
silver has been coined to provide us with
our full distributive share of the world s
money independently of gold. Our share at
present is 81 1,500.000.000, of which at least
$3.50, 900 is gold. Silver enough must be
coined. then, to give us full $1,000, coo, 600 be-
sides gold and besides enough to take the
place OF retired bank notes and supply
the requirements OF our increasing popula-
ton and growing industries. Besides the
proposed issue Of new paper money will
tehd ID the same degree to diSplace gold that
silver will.
Which, then, is best, metallic money,
constantly in supply, self-regulating and
that needs no redemption. or additional
credit money to be sometime redeemed in
gold that becomes constantly dearer as the
demands upon it increase? The people de-
mand their constitutional right to have re-
course to both gold and silver for money re-
stored 10 them"
NEW YORK, Dec. 11.-Dow, Jones & Co. s
washington special says: The President,
IN conversation with q Senator, has ex-
pressed himself as decidedly opposed to
either free coinage or the propositi ON author
Eing the Secretary OF the Treasury to pur-
chase all the silver bullion offered. He ex-
pressed himself in favor of the bill for the
purchase OF $13.000,000 surplus bullion in
the country and intimated pretty clearly
that that was as far as he would 20. He
would IKE TO see silver go up to 1870, but did
not propose that the United States should
De the dumping ground Of the whole world
to secure that result