Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1890-06-26

of their product. If the Free Coinage
bill passed the Congress of the United
States would fix the value at price 30
per cent above what silver was worth.
He had been invited time and again TO
join silver pools, but as long as he had
a seat here his voice should be raised
in behalf of the people of this country,
for the laboring man, for the savings
bank depositors, for the crippled and
starved soldiers of the country. In con-
clusion he said that he was for some
sort of legislation, and if it should come
about that there was no silver legisla-
ton the responsibility would rest upon
the advocates of free coinage, because
the delay up to this time rested largely
upon their shoulders. They had an op-
pOrtunity now to secure legislation by
agreeing to this motion.
Mr.. Bland knew nothing about any
lobby. He had not seen it and never
heard of it, except if it were called
lobby for gentlemen to print documents,
make arguments before committees and
give all the information in their posses
sion upon this important subject. To
that extent Congress was always pur-
sued by lobbyists. The speculation in
silver did not differ from speculation in
iron and other products. The only way
to stop this speculation was to give un-
limited coinage and then to establish,
as was done with gold, price for silver.
He predicted that the effect of such legis-
lation would be to raise the prices Of all
products. Farmers would get better
prices for their exports and prosperity
would set in. If speculative pools had
been organized they might have been
founded upon belief in the passage of
the House bill because that bill opened
the door to the wide est speculation. One
day there might be $4,000, 600 in the
treasury and the next day not 81, OGO, 900.
He critic sed the House bill in other re-
spects and contrasted its provision with
the Senate bill to the advantage of the
latter. He wanted it understood that
he was for free coinage, but If he could
not get it he would vote for this bill
If he could get two amendments
one providing that the notes out
standing should not be limited to the cost
price of the bullion and another that
the notes should be redeemed in coin
This latter was important in order that
the coinage should be kept up and the
bullion not stored in the treasury SIM
ply as a commodity. The people would
say there was just the same right to
store cotton, lead, iron and wheat in the
treasury as bullion. This would not be
necessary under free coinage, because
silver would then be not a commodity,
but money. With free coinage the
United States would be in position to
control gold and 81 yer. Instead of Lon
don being the place where gold and sill
yer was exchanged. and instead of En-
gland controlling the financial market,
New York would become the worlds
exchange between gold and silver-the
international clearing house.
The debate was continued by Messrs.
Kerr, of Iowa, Post and Hill, the latter
criticising the Bland act as failing in its
purpose of securing parity between gold
and silver.
Mr.. Bland explained that the amend
ments to his bill had defeated its pur-
pose.
Gtr. Brewer, 'pf Michigan, said SIN
other words, tic bill when it came back
was not so BLIND as when it went over
there"
Mr.. Bland feilied; No; 1T was more
Allison than 'Blapd,, and'I am afraid tn
bill will be, too.
Mr.. Townsend of Colorado, said that
Froo coioa0a UaS tho Onlv wav tn apcure
a stable financial system; but he would
say frankly that if he could not get free
coinage he would vote for this 81, 500, 900
bill as offering considerable improve
ment on the present conditions.
The question was further debated by
Messrs. Kelly, Struble, Wheeler and
Bartine the latter stating that he felt
1t his duty to vote for any measure that
pointed in the direction of free silver.
Altar which the House adjourned