Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-02-20
The slLvER.coINAeE HEARINGS.
A Pnrsee Merchant Produced-A Miners
Views" Quantity and Quality"
IBy telegraph to the Dlspstcn.I

WASHINGTON, February 19.-There WINS a
very noticeable lack of interest to-day i'll
the proceedings of the House Coinage
Committee, now that it has been decided
TO close the hearings on tue silver question
tomorrow, and only three members of the
committee were present. Representative
Walker, OF Massachusetts,, continued his
examination of Mr.. Hewlands. the inquiry
being chiefly on oorrelative subjects rather
than the direct issue involved IN the silver
question.
j, s. Moore. the Parsee merchant" of
New York, made statement to the effect
that il was not. the decentralization of sill
yer by the United States which caused the
decline in the value of silver, but small
er demand for silver in India and larger
supply of silver there. due to importa-
tions and an improvement in Transports
ton among the Indian provinces. India
was called "sink-hole for silver be-
cause. although great amounts OF silver
were sent there, none ever came back.
MIR. Bartine closely questioned Mr..
Moore with reference to his statements
touching Indian silver importatlons, and
called his attention to the fact that they
were in conflict with the testimony before
the English Royal Commission; but MIR.
Moore insisted that his statements were
correct, nevertheless.
a hONIANA MlNEh hAEWos
William II. Beck, who is engaged in sill
ACE ON the ground that he believed the
present law, which took fifty-four millions
of silver annually out of the market and
absolutely locked it up, was better thing
for the silver miner than FREQ COLI
age. under which all the silver would
be on the market. He did not think
free coinage legislation alone could
raise the price of silver bullion u
its coin value. Under free coinage our
silver coin would be Just as much COM
modify as the coins of Mexico, which had
free coinage, and the purchasing power OF
silver coin would be simply its bullion
value as fixed in the markets of the world.
The number of low-grade silver-ore mines,
he declared, was absolutely illimitable,
and with the greatly improved methods IN
production there would be great quantities
of SILVER put on the market.
SILVER PRODUCTION.
There had been such great improvements
in mining that he believed that within i've
years silver would get down to 50 cents All
ounce. He was sorry TO see 1t, but be-
heyed il would have to come. Mexico WAS
also greatly increasing her productions.
He read letter from Ex-Governor White,
Of Montana, expressing qualification at the
TACT THAT lItt NOiudbo bNuld NV
pass this Congress and declaring that
free coinage would be o great dis
aster TO the silver industry. Tho senti-
ment of the people the letter said, was
changing. If Congress were to pass a free
coinage law, he insisted that it should be
provided that gold dollars could DO OK
changed at the Treasury for silver dollars.
and rice oersa; and that IT either metal
went up or down the Government should
stand in the breach and bear the loss.
BOSTON nndETALLIsT.
Pierre Humbert, Jr., civil engineer Of
Boston, speaking for the Faneuil Hall
meeting, advocated the reconciliation OF
silver. Many OF the bankers, he said, pei
sisted IN talking about quality,
auRlity,n as the one essential in money,
but he and others believed that
quantity was Just as essential as quality.
II quality were the only thing TO be con.
sidared platinum was immeasursbly supe.
nor TO gold. But gold was not produced
in sufficient quantity TO do the legitimate
business of tho country, and Mr.. Humbort
earnestly argued in favor Of q bimetalhC
standard