Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-12
NATIONAL CAPITAL.
Lengthy Report Of the National Silver
Committee.
COMBINATIONS BY THE SENATE,
Proceedings of Congress-Federal
Elections Bill-Pension
Claims.
NATIONAL CAPITAL.
NATIONAL SILVER COMMITTEE.
An Address Issued to Congress on the
Financial Situation,

WASHINGTON, December 1lth.-The National
Executive Silver Committee to-day issued an
address to Congress. The committee believes
that the present money stringency and the
breaking down of credit on both sides of the
ATLANTIC is due mainly, if not entirely to an
attempt to conduct the worlds growing busi-
ness on a narrowing basis of gold as single
money standard, and again appeals to Con-
gress to delay no longer the restoration 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 situa-
ton by increasing the volume credit of cur
rency or multiplying the credit exuedience can
anord but temporary relief. With the gold
Supply constantly diminishing the population
increasing, and business rapidly expanding
the recurrence OF the present situation must
come, forcing the periodical adjustment of
prices ana business to an ever contracting
scale OF single gold standard. What is needed
is a broader basis OF primary money, constant
and adequate in supply. Bimetallism must be
re-established. There never has been and
there Is not likely to be in the future too much
gold and silver to supply the worlds needs Tor
money.
To supply the probable population of the
united states alone for the next century with
the same per capt. awe now have Will require
production of the metals as great as the entire
production OF the American continent since its
discovery by Columbus With free coinage OF
silver the difference between silver bullion and
silver coin must at once disappear If every
body can have silver metal converted into coin
free OF cost at the rate of 37lh grains to the
uoaiolJ tlicA. vi CUuISe, lnSre call De no UlIer-
ence between the value of a given weight of
silver in bullion or in coin.
Ihe committee believes that 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 dis
.tributive share of the worlds money independ-
ent OF gold Our share at present is 81 500 .OOO,-
600, OF which at least $3.50 600 900 is gold Silver
enough must be coined, then. to give US the
full 81 500 0o0,c0O besides gold, and besides
enough to take the place OF the retired bank
notes and supply the requirements of our in
Besides the proposed issue of new paper money
will tend in same degree to displace gold that
silver will. Which, then. is the best metallic
money, constant in supply and selfregulating.
and that needs no redemption, or additional
credit money, to be some time redeemed in
gold, that becomes constantly dearer as the de-
mand upon it increases. The people demand
their constitutional right to have recourse to
both gold and silver for money to be restored to
thpm -