Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-12
FINANCIAL STRINGENCY.
The National Executive Silver Commit
tees Address to Congress.
an Appeal That There Be No Longer Delay IN
the Restoration of silver to Unlimited
Use as Money.

! WASHINGTON, Dec. 1.-THE national
| executive silver committee to-day issues
the following address to congress:
The national executive silver commit
tee, believing that the present money
stringencY and breaking down Of credit
on both sides OF the Atlantic are due
| mainly, if not entirely, to an attempt To
| conduct the world 9 growing business ant
discharge of its vast debts on a narrowing
| basis of gold as single money standard I,
again appeals to congress to de-
lay no longer the restoration
of silver to unlimited use as
money, with all rights of coinage and
| legal tender possessed by gold. All at
tempts to relieve the present strained
condition by increasing the volume of
credit currency or multiplying credit ex-
pedierts can at best afford but temper
AIRY relief with u supply of gold con-
stantly diminishing while the population
is constantly increasing and the business.
of the world rapidly expanding. The
recurrence of such conditions as we are
now experiencing must come of forcing
periodical adjustment of prices, business
to the ever contracting scale of Ia single
gold standard. What is needed is
broaded basis of primary money, con-
slant and adequate i'll supply. To Sc
cure this bi-merallism must be re-estab-
lished and thef attempt sto stretch the
single gold standard over the world be
abandoned. There has never been in
the past, and ia not now. and will not
likely ever be too much gold and silver
to supply the worlds needs of money.
neH nv ha ista Of ha
fact that these metals are, to 3 large
extent, supplemented by.paper money,
to supply the probable population
OF the United States alone for the next
century, which same per capita of money
we row have will require production of
metals as great as any product of the
American continent since its discovery by
bT Columbus. With free coinage OF
silver the difference between silver bull
lion and silver coin must at once disap-
pear and end silver speculation. II
everyb body can have silver metal
converted into coin free of cost
at the rate of 3714 grains to the
dollar, then. Of course, there can
be no difference between the value
of given weight of silver in the form OF
bullion and in form of coin. Again, the
fear that with the free coinage the parity
OF silver and gold on our ratio of sixteen
to one will be broken is believed not to
be wei! founded. Certainly this can not
take place and continue permanently till
silver enough has been coined to provide
us with our full distributiye share of the
worlds money independently of gold.
Our share at present is 81 800 900 900,
of which at least $3.50 200 900 is gold.
Silver enough must be coined, then, to
give US full 81, 500, 900 900 besides gold,
and besides enough to take the place Of
the retired bank notes and supply the
requirements of our increasing popula-
ton and growing industries. Besides,
the proposed issue of new paper money
Will tend in the same degree to displace
gold that silver will. Which, then, is
best, metallic money constant in sup
ply, self-regulating and that needs
no redemption, or additional credit
money to be sometime re-
deemed in gold that becomes
constantly dearer as the demands upon it
increase. The welfare of civilization is
involved in this issue. The people of the
whole country demand that it is their
constitutional right to have recourse to
both gold aud silver for money to carry
on business, and the discharge of all
money obligations shall be restored to
them, and agitation of this great Ques-
ton will not cease till this demand is
granted.
The address is signed by Gen. A. j.
Warner and Francis q. Newlands for the
committee.