The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-06-17
NO MIDDLE GROUND.
Democrats Demand Free Coinage and VIII
Stay With That Issue.

Democrats Demand Free Coinage and win
Stay with That Issue.
WASHINGTON. June l5.-In concluding
his speech in the senate, Daniels said that
the world moved and that this was the land
of progress has never been better demon
strated than by the fact that great leader
of the republican financial policy in the
United States ,alluding 10 senator Sher-
man, who had carried single gold
standard over two continents had come
forward in his speech and lain down at
the feet of "A double standard and pro-
claimed that he was AT least an advocate
If silver money.
Allison next addressed the senate. He
said he had voted for the house bill as
amended by the senate finance committee
as he considered IL the wisest and best
solution of the question. The question
To he considered was what currency could
he safely substituted for national bank
circulation. The judgment of the
finance committee was land he thought
il would he the judgment OF the senatel
that IL the government issued paper
money il should issue IL on something
that was i'm and Of itself convertible into
legal tender money. Therefore the bill
proceeded on ideas that whatever paper
money should he issued should he issued
on silver bullion purchased 10y the gov
ernment at thc market price. Why, he
asked, had silver bullion been selected as
basis FOR that new paper money? IL
was because the public mind rested in
the belief that sooner or later that silver
bullion would be coined and become me-
tallic currency. II was on that basis that
he would vote Tor the bill.
II was on that basis hc was willing the
coinage of silver dollars as now provided
for should cease. There were people who
believed coined dollars in the treasury
were useless and that il would be wise
pnblc policy to cease that coinage. He
believed that II was just as well to con-
tinuc them To the utmost limit of 4,UO,uO
| "A month. But there was a large public
opinion against that view and therefore
he consented that bullion should he left
in the treasury uncoincd. He did that
more readily for the reason that he he
lieved sooner or later the United States
would have To change the number of
grains of silver in n dollar and therefore
dollars now coined would he rccoined
He was therefore willing bullion should he
in the treasury until IL was known whether
there would be an international agreement
as To ratio. IL was true the pending
bill provided bullion in the treasury
should he coined for the redemption of
treasury notes. Whatever might bc the
opinion of other senators in that respect
he did not labor under the delusion that
the house bill or the senate bill, any add-
tional silver dollars would he issued.
| There were now more than DO,UO,UD
coined dollars in the treasury against
which silver certificates are issued; so
\ although those dollars belonged Ia the
| holders OF certificates the certificates
were payable for public dues, and when
they were received into the treasury they
belonged To the government of the United
States. So the government would always
have working balance sufficient 10 re-
deem those treasury notes. He believed
the only safe way To rchabilitate silver was
concurrent agreement among nations
whereby they would open their mints con-
| currently to the free coinage of silver at
"a great rate. So believing, he was willing
| to go ON as they were going on now ten
tatively as II wcrei, with provision
| Tor the use OF silver pending negotiations
that ought la bc had for the rcinteration
| of silver on some rate agreed upon by the
nations of the world. In supporting the
bill, he supported il on the basis Of the
| idea that the government Of the UBited
States would use its power in endeavo oring
| To secure an agreement whereby all COM
mercial nations Of the world would use
| silver AS gold was now used. He regarded
| the pending measure and the unanimity
with which il was supported, as complete
Justification of the Legislation of ls1s, ,whic IA
contemplated the minimum monthly
coinage Of 2,uOuO silver dollars and "a
maximum of i,0OO,UO. lie was for the
full aud complete restoration of silver as
one of the coin metals of the world and
was willing to do whatever lac could do to
promote that most desirable object. lie
could not vote for the free coinage of sill
| yer AT this time or any time in the near
future. lie could not do so until every IL.
| fort To secure the use Of silver by the
commercial nations Of the world was ex'
hausted.