Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-08-27


showed this body. in this case at least,
| TO be nearer TO the people and In closer
| sympathy with their interests than the
/ house.
While it ia not proposed here TO go INTO
| the details of the discussion of the votes
| in the senate or house (Which will be
given elsewhere), it would be unjust no!
to speak of the unremitting labors OF
| senators which resulted IN the passage OF
the free coinage bill.
Probably no one on either side of the
ocean has done more to enlighten and
direct public opinion on the silver ques-
ton than Senator Jones of Nevada, be-
ginning with his first silver speech in
congress and the report of the silver
commission, which was manly his work i.
down to his last great speech in the
senate this session, which is In itself an
exhaustive treatise on the money oues-
ton.
Nor has Senator Stewart been behind
in his efforts In behalf of silver. Ever
ready and always aggressive ne has kept
up agitation in the senate, when without
him the silver question might have been
allowed to sleep.
Senator Teller of Colorado, who al
ways has the courage of his convictions,
stood as bulwark against bullion re-
demption and has always and consistent
ly advocated free coinage.
Senator Wolcott also distinguished
himself in his first speech in the senate
by bold and eloquent plea for silver.
The management of the free coinage
bill on the floor of the senate by Senator
Plumb was skillful and able, and his
speech was one of the strongest pleas for
free coinage made in this congress.
The senior senator from Kansas, who,
most of the time occupied the chair Of
the vice. president, was also unwavering
in his support of free coinage.
Senator Mitchell, of Oregon, has been
assiduous in his labors in the interest OF
the state he so worthily represents, W bile
the other senator form Oregon advocated
the gold standard.
OF the senators from the new states
who were present, all but Casey OF
South Dakota and Allen of Washington, ,
voted for free coinage.
The two senators from Missouri have
always, through all administrations, been
on the side of the unlimited use of silver
as money. Most of the senators from the
South took an active part in the dis
cussion on the side of free coinage. Flo
quent and able speeches were made by
Daniels, Reagan, Coke, Harris, Morgan
and others. Senator Evarts of New York
opposed bullion redemption In scholarly
speech. and favored freer use of silver,
while from the East, Senators Cameron
OF Pennsylvania, Blodget of New Jersey,
German Of Maryland, and Blair of New
Hampshire, voted for free coinage.
When the senate bill providing for free
coinage went to the house strong effort
was made by the friends of free coinage
to secure direct vote on it, but, unfor-
tunately, party considerations were in
voked and restrictive rules resorted to to
prevent discussion or vote fairly sx-
pressive of the views of members. For,
undoubtedly, the real sentiment of q
majority of members, as well as of vast
majority of the people they represent,
are in favor of the restoration of silver to
unlimited coinage. Such uncompromis-
ing advocates of free coinage as Bland
and others on that side OF the
house can, of course, always be
counted on to vote for such q measure.
A few representatives ON the other side,
as Bartine OF Nevada. whose labors nave
been incessant in committee and out for
free coinage, Townsend, Carter, Nor
row, CluDie and De Haven courageously
voted their sentiments. while others
although expressing themselves as in
favor OF free coinage, cast their votes
against the adoption Of the senate free
coinage bill.
1t had become evident, however, be-
fore this action in the house that free 4
coinage bill would not receive the ap-
prevail of the president, and therefore
could not become law.
A compromise bill became then the
only thing practicable. A conference
was appointed and the only
thing left for the silver men then was to
secure the best bill possible under the
the result was the act
which became law by the signature of
the president July IA.
OF this act the committee can only say,
that while 1t 10 not free coinage, and
while it cannot be accepted as in any
sense a final settlement of the silver
question; and while, like alls compro-
misses, it is not wholly satisfactory to
either party. nevertheless, when fairly
that it is decided step for
ward can hardly be questioned. That,
honestly administered, It will bring us
much nearer free coinage is rea-
sonably certain. It will in
creae the purchase Of silver for
use by over 2 800. 900 ounces
month. At the present price OF silver it
will add about $50 900, 900 more to our
money volume than the coinage of
81 200, 900 month under the present
law. 1t will absorb, for monetary use,
the entire production of our own mines,
leaving the production of the rest of the |
world to supply all other demands, ln-
,luding the demand for the arts.
The price of silver since the st. Louis |
has advanced from ninety |
three cents to 81 10 an ounce-almost half |
way to parity with gold. And with the |
advance of silver bullion, as silver men |
predicted, agricultural pro-
iuots. especially wheat and cotton, have |
advanced. AS il takes more |
gold to get the silver to coin into rupees |
With which to buy wheat IN India for the |
English market less wheat will be bought |
n India and more, and at higher price,
will be bought in the United States.
In this way the larger use of silver as /
money in this country may, by raising the
price of silver and with it the price of |
wheat and cotton, without diminishing |
heir export, increase the total value of |
,ur exports, and in this manner help to |
create large balance of trade in our
avor. Thus, while the producers of