Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-08-27
FREE COINAGE
Work CT the Present Congress Not a
Final Settlement of Silver Question.
Only Step In the Right Dirsction-The First
Report of the National Executive
silver Committee.

Report of the National Executive
silver Committee
The following Is the first report OF the
national executive silver committee, ap-
pointed at the st. Louis convention
November, 1889.
The national silver convention, held
at St. Louis, November 26, % and %,
1889, adopted the following resolution:
Resolved, that the Fifty-first congress be re-
9uested by this convention to provide, at its
first session, for opening the mints of the
United States to the free and unlimited coinage
of standard silver dollars, of the present weight
and hneness, to be legal tender for all debts.
public ana private, equally with gold, and that,
until such provision is made, the secretary of
the treasury be required to coin the maximum OF
81, OoO, 900 worth OF silver per month as now
authorized by law,
And appointed a national committee,
consisting of member from each state
and territory, from which an executive
committee of nine was appointed to pro-
mote the purposes of the convention.
The executive committee met at Wash
ington, D. c., January Il, 1890.
An address was issued to congress and
the country, and steps taken to arouse
and direct public sentiment to the I'M
portance of the full restoration of silver
to its place as money metal, equally
with gold, as it was before the unfortu-
nate act of 1878.
To this end thorough discussion of
the question was begun and carried on
through the press, by public meetings
and the publication and distribution Of
literature.
Public meetings were held in several
of the large cities, which were addressed
BY the Hon. Thomas Fitch, an eloquent
orator and vice-chairman of the COM
mittee. Meetings were also held in
many places throughout the country at
tended by other speakers.
The discussion of the silver question
through the press of the country was
never before SO extensive or able. Petit
tions, In large numbers, and signed by
all classes, were presented to congress.
AS indicating the influence and extent or
the silver movement. it is worthy of note
that all industrial organizations through
out the country, including the Farmers
Alliance and Oranges, have everywhere
resolved for free coinage.
Except in the Eastern cities, and
where public opinion is dominated by the
Eastern press, public sentiment every
where is and has been in favor OF the
reconciliation of silver, and it is be-
lieved that If the will of the people could
have been enacted into law the silver
question would have been settled long
ago. The aim of the committee has been,
therefore, to arouse and give expressions
to public sentiment on this the most i'm
portsnt of all economic subjects.
The contributions to the committee
have been expended exclusively in this
direction, and money, in public cause,
was never more legitimately used. A
large part of the work done has been
gratuitous service. The members OF the
committee have served without compen-
satlon, and have mainly borne their own
expenses.
MIR. Pixley crossed the continent to
attend the meetings of the committee,
and his well-known pen has been effect
lively used, both in the East and the
West, in the cause of silver. Mr.. New
lands of Nevada also took leading part
in the direction of the " ork of the COM
mittee, and through the press and by
public address effectively opposed
bullion redemption, and forcibly and
clearly presented the arguments in favor
of silver. Mr.. Rumsey attended most
of the meetings of the committee, and
took upon himself an important part of
the work. Others Of the committee rem
dered service in person or by proxy.
The silver question was brought up in
both houses of congress early in the ses-
sion. The present administration came
in pledged to the use of both gold and
silver as money, which, fairly inter-
preted, means their equal use as money.
The secretary of the treasury, foresee-
ing the necessity of some action on the
silver question, devoted large space in
his report to its discussion. He proposed
to increase the purchase Of silver bullion
to the product of the United States, and
to issue therefor treasury notes redeema-
BILE In silver bullion at its market price at
the time of redemption, or in gold, at
the option of the government; or in sill
yer dollars if demanded by the holder.
The views of the secretary were en-
bodied in the bill introduced In the house
by Mr.. Conger, chairman of the commit
tee on coinage, weights and measures.
Senator Jones of Nevada early intro
duced a bill in the senate, requiring the
purchase Of 800, 900 ounces,
and the issue of certificates therefor re-
deemable in coin, which it was believed
would fully absorb the production of the
United States, and come as near free
coinage as it would be possible to get
this congress.
Various free coinage bills were also in
troduced IN both houses. The conten-
tion at first was over the proposal of the
secretary to be allowed to redeem treas
ury notes, issued for the purchase of sill
YER, in bullion at its market price at the
time of redemption.
On this plan silver bullion was to be
treated merely as commodity; it was
to be purchased as a commodity, held as
q commodity to secure notes issued for |
it, and in the discretion of the secretary |
to be paid out, not as money, but as |
commodity in the redemption of notes |
and to go on the market again as SO |
much silver metal. 1t was rightly con- |
tended by che silver men that although |
silver might be utilized as money at its |
market price, when once convert |
I'D into money 1t should remain |
Otherwise no one could |
tell what the real and per-
addition to the money volume |
would be. The point that whatever sill |
yer was converted to use as money-was |
monetized-should stay money, was on |
It's face so sound and was SO well sus-
tanned that Il could not be overthrow,
the house, under party |
a nm az rt,lo.