The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-05-16
MORE ABOUT SILVER
He Criticises the Committees Bill
as a HALFWAY Step The
Only Remedy 10 Free
Coinage.

bill aud Teller continued his argument In
criticism of Il. There were two features
of the bill which should be amended, he
said, II the bill was TO perform the two
things which Its friends proposed to ac-
complish by IL. That was to raise the
price OF silver and to give the country in
creased circulation. II was also abso-
lutely essential i'm the first place that the
treasury notes provided for in the bill
should have the highest possible money
function. IL on the principal duties money
''discharge OF Indebtedness" was denied
II, its depreciation and suspension of sill
yer purchases under the bill will be in
yited. He did not deny that the passage
of the bill would put the price OF silver up.
Its very introduction had that effect
because il was apparent to the peo-
pie abroad that il the United States govern
ment consumed the entire silver product
Of the country lone third of the worlds
product), there would be a demand for
silver that could not be met. II might
put the price up to par. He did not know
exactly what par would be. He supposed
81. - per ounce would be called par in the
United States. 1t would be less in Great
Britain and less i'm Europe. II il put the
price one-eighth OF per cent above par
the purchase Of the government bill
would cease, and the great interests ar
rayed against silver would obtain their
ends. This would be vain supposition,
no imagination on the part OF the people
There was party not in the United States
alone but all over the world that held the
credits of the world, that took the toll
from all quarters, that levied tribute on
all enterprises and was arrayed against
silver as money. For IL years that party
had held the whole civilized world. II
had its seat i'm Europe, but il had its in
fluence here. 1t had added one-third to
the material debt of the United States by
legislation and had added an equal
amount to the state, municipal and indi-
vidual debts. Those people had enriched
themselves at the expense of many. Col
lossal fortunes had been built up in the
United States and Europe within
IL years which had no parallel
in the history of the world.
Fortunes equal in extent to these brought
back to Rome by the conquerors, who in
vaded Asia, and did anybody believe these
vantage and adopt financial system
that would relieve the tax ridden debtors
of this country and the world and put
them back on the plane where they were
in 1873? The energies OF these people
were beyond calculations. Their avarice
was only equalled by their energy. They
could put silver at and above par when
they wanted to, and II they could thereby
destroy silver as money metal and
| then. when the United States
government would not buy silver
under the pending bill, they would
would not do for money; We told you il
| was not suitable money metal and that
| you have TO go to the only suitable money,
gold" Was il a delusion. he asked, TO
suppose that that would be done. He
suspected that these people would do
anything within the range OF Legislative
enactment or of commercial transactions
| to accomplish their purpose, and a bill
| that contained a provision which would
allow such state OF affairs. was no,
| a perfect bill. Butler requested Teller to
give his idea of the effect of the free coin
age of silver OH the international none.
tary arrangements.
Teller said everybody had To admit the
proposed bill whether II were n scheme oi
the secretary of the treasury to pile M
bullion in the treasury department and
pay il out on demand Of note holders oI
the amendment reported by the finance
committee was temporary affair. No
one member of the finance committc,
would claim il was permanent thing
They said IL was temporary. They were
waiting to see what the current of event,
going silver .a be- 'cspe ana they ;sa sS to h'
to accept this bill. II is not
il is true, full restoration OF sill
yer to its money function. but ]
is the halfway house at which you car
stop for while, and when you have gath
cred strength go on. The bill, he said
was n halfway scheme. II afforded n,
relief whatever except i'm making a spe
cial market of silver In excess Of the pres
ent government demand OF two million'
month. IL il was proposed to restor,
silver II would have TO be given It's full
money function. There were at least min,
men in the world calling for silver a.
against one man calling for gold. B,
preference and by law silver wa
the chief money. Silver was bette
adapted for use as money than gold ,whil'
he was himself bi-metalist IL there was I,