The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-02-25
Let window Prove II.

Let Window Prove IL.
Secretary Window was before the house
committee on coinage, weights and meas
ures to-day for the purpose of having an
interchange of opinion ON the subject Of
silver coinage with the members of the
committee. He declared his bill was
framed 10 meet in the best way he could
devise the present financial condition of
the country. He disavowed all the charges
that tho bill WAS makeshitt that its author
did not believe in IL, and that II was
brought forward 10 defeat some other
measure. He said he was really strong
friend Of silver, although come people did
not think so, and he was anxious for some
measure that will enhance its value.
Windom took up the objections raised
against the bill. The first difficulty was
that of excluding foreign ores. To meet
this he had prepared an amendment 10 add
TO the first section. making II the duty Of
collectors of customs 10 stamp on eveiy'bar
of silver bullion imported the word Tor
eipn," Ii also makes il the duty of every
assayer or Ieiiner of the United States, or
nny other person or firm who may receive
bars of silver stamped ''toreign," in case
such bars are remelted or refined, to stamp
the resulting bars foreign" In case the bars
OI hllNGT htlillltu luitlIn NV ANAnNAAiA
or refined with the silver products of the
United States. it shall be the duty Of such
assayer or retiner 10 stnmp on the amount
of silver bars which would be equivalent 10
the amount of foreign silver melted or re-
finei, toe word foreign" The safro rule
sh.Ei a5hy tC foreign silver CONS. Penal
ties are provided for failure 10 stamp the
bars or for removing the stamp TO prevent
identification. This section shall not APP
ply 10 silver extracted from imported ores
by processes of smelling. anlalgamatlon
and lixlyintion, or other metalufgical pro-
cess used in the United States.
Concerning the objection 10 the sixth sec
tion, authorizing tbs secretary 10 suspen
the receipt of silver bullion when satisfied
| the price in arbitrary. the secretary said 81
| far as the speculative power was concerned
| the powers of the secretary now are greater
than those conferred ON him by the bill.
II the bill passed the price of silver would,
in HIS opinion. advance steadily and rap
idly. The excellent feature OF the discre-
tionary powers vested in the secretary
won d he Is deterrent effect on speculation
in silver and IL WAS with reference 10 pre-
venting this rather than any expectation of
usingit, that he proposed ~. lie, however,
would leave IL 10 the committee.
| In speaking of the objection 20 the bill
/ that il made commodity Of silver and de-
graded il from its high use as money
metal, the secretary said be thought this n
sentimental objection. His purpose was
not to degrade silver, but 10 bring IL up 0s
nearly as he could 90 an equality with gold.
I lie was convinced the measure would meet
all the needs OF the situation without en-
dungcring the interests of the country, and
would absorb the surplus silver and thereby
put up the price certainly and rapidly
/ In answer 10 n question by Conger, Win
dom said there was not any reasonable OBJ
/ lection TO including gold in the first sec
/ tion Of the bill. 10 benefit tho interest Of
the silver producers was not the only motive
| ia the bill. He believed aiding everybody
affected by the measure. He thought the
wheat raisers Of the country were more in
terested than the silver people, fer the
farmers were heavy losers on account of the
depression in silver. and the operations of
the bill would tend 10 raise the prices of
farm productions. Free coinage, Window
said, would reduce silver below its present
value, the present bill would increase the
circulation of the country TO the extent OF
$95,000,0O0 annually.