Los Angeles herald., 1890-12-12
Bi-Metallism Must be Refs
tablished.
Silver Must Be Admitted to
Free Coinage.
The National Silver Committee Issues
an Address to Congress.
Atlantic by the Single Gold
Standard.
Associated Press Dispatches.

WASHINGTON, Dec. 1.-THE national
executive silver committee today issued
an address to congress. The committee
believes that the present money strin-
gency and breaking down of credit on
both sides OF the Atlantic, is due mainly,
if not entirely, to the attempt to con-
duct the worlds growing business on
the narrowing basis of gold as single
money standard, and again appeals to
congress to delay no longer in the res
toration of silver to unlimited use as
money, with all the rights of coinage
and legal tender possessed by
gold. All attempts to relieve the
present situation by increasing the
volume of currency, or multiplying
credit expediences, can afford but tenn
poraTy relief. With the gold supply
constantly diminishing the population
increasing and business rapidly expand
ing, occurrences of the present situation
must come, forcing the periodical adj
justment of prices and business to the
ever contracting scale of single gold
standard. What is needed is broader
basis OF primary money, constant and
adequate in supply. Bi-netallism must
be re-established.
There never has been. and is not
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 pro-
duction of the metals as great as the en-
tire production of the American conti-
nent since its discovery by Columbus.
With free coinage of silver, the differ
ence between silver bullion and silver
coin must at once disappear,
and end silver speculation. Ii every
body can have silver metal converted
into coin, free of cost, at the rate of
37114 grains to the dollar, then, of
course, there can be no difference be-
tween the value of a given weight of sill
yer in bullion or coin. The committee
believes that the fear that free coin
age would destroy the parity of gold and
silver, on our ratio of sixteen to one,
is not well founded. Certainly this can
not take place and continue perma-
nently until enough silver has been
coined to provide us with our full dis
tributive share of the worlds money,
independently of gold. Our share at
present is $1,5O0,000, 900, of which at
least $3.50, 900, 900 is gold. Silver enough
must be coined then to give us our full
$1,000, 100000, besides gold, and besides
enough to take the place of the retired
bank notes, and supply the require
ments of our increasing population and
growing industries.
Besides, the proposed issue of new pa
per money will tend in the same degree
to displace gold that silver will. Which
then is the best metallic money? That
which is constant in supply, self-regulat-
ing and that needs no redemption or ad-
ditional credit money to be some time
redeemed in gold, or that which be-
comes constantly dearer as the demands
upon it increase? The people demand
that their constitutional right to have
recourse to both gold and silver for
money, be restored them.