Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-02-20
COINAGE COMMITTEE
Ono MiraY Doesn't Want FREQ Coinsgs
@ onntt,y ss Well as Qualify

WAsmIsGroN, Feb. l9,--There was .
very noticeable lick Of Interest today in the
proceedings Of the House coinage commit.
tee. only three members Of the committee
being present.. Representative Walker, oil
Massachnsetts, Continued the examination
CT the new lands. Walker said, ~ has been
charged, the gold pools and gold bugs arc
seeking to isfuence Legislation, and would
SIX il Gen. Warner was paid for his Ger.
vices by the silver organization. Witnes,
replied that Gen. Warner was not paid for
HE services, and that hls interest in the
silver question was entirely impersonal
| but he should decline 10 answer any ques
tions relating to the organic alton.
! Ne~lands said he did not indulge in any
Of this idle talk about pools, money oreaa-
| izations, corrupt influences on either side
He did rot believe either side was doing
more than attempting, by discussion and
agitation TO iIhaepce public sentiment.
The term gold rug is used, he thought,
| just as the term silver speculation used On
the other eide. j. s. Moore, "par,ca
| merchant" n1sde Statement. to the eject
that 1t was not characterization Of silver by
the Uniied States which caused the decii "
| in the value Of silver. but smaller dem nd
for silver in Inai,. larger supply Of s;i er
| Ia due 10 irnps rts.ions and improvement in
transportation among Indian PROVING. ..
India is called the "siak hoses for sill r,
| because although great smou e OF 81. ~
are vent there rome ever came beck,
VIM. IL. Beck, who 10 engaged in silver
mining in inontans, opposed free coinage.
on the ground that he believed the present
law, which took Fifty feur millions OF silver
annually out OF The market and absolutely
! locked il up was better for the silver miner
thsn free coirsgs, under which all silver
would be oa ihs Dx,ktt. tic d i not thick
free coinage legislation slo0s could raiss
the priee OF sliset bullion 70 its con val,s.
fier,e Humbsf.. Jr., civil esg neer, Of
hcssnr, speaking for Inc Esneui, Hail
mea'iHg, advO sated the recommendation Of
nivsr. Many bankers, he said, persisted
10 hlsihs about quality" IS the oae
essential In money. He and others b.lisged
tast qasoti.y was Jus: a. eszentis. A.
quality II quality was the only thi1g 70
De Considered platinum was in,ne asurabIy
superior 70 gold. Gold wss no, produced
IN srnicient quantity to 90 tie iesi,ilnae
ous'ness OF the country. Humhett ea -iestiy
argued 10 fsvo- Of ths b; metallic stsnaagd
A. bisnsfk said. the geld bIsntsr ~as 50
smsi'. snd each aaIoa rms tusAoy =. i,
until tie strain Lad become such the
blanket eeaH no. fail to sena ia pieces.
There has been constant depreciation in
prices until they were DOM very near tue
plane which about 154s csrsed t,emefdou,
troubles in Europe and placed il on the
verge Of bankruptcy. Portugal today Ia
shaken, Spain Is Ia revolt, all kne. vhu
hsd happened 10 Argentine, Isaly hsd
pulled DOM Minister Cf;s1i, smaa who
uo1bsd Germany had been p.ossra,eJ.
Easisnd hid undergone hnsociM pan.c
and the Untssd States WAS In . batter pest.
tion to stsnd the strain, ba. The tfosbls "a,
hs:e, Engisnd hsd been 6naIly conpel,ed
~ tue crssis 10 make tha Aamisaisn that
she vas no longer in posi-
ton 70 be the financial center Of the World.
There has lately been psnic aod bsakeys
nov talked much Of loss Of cosldsnc..
Had they los; confidence in the good r,onsy
q the country? Not bit Of IL Ia the
ability Of The people 10 produce - moch =
ever, wear ~ much. eat - mucss Not Il
se. be snswerei- There he'd been 4 loss
q ccn11sncs bssssss honas and secu,:tie,
40 q laae beer afiaeked ~ evsry cs,otrsct-
~ voiune 81 monsy. Ths qua.tty vas al
asre; ~ qsectisy saly VS. Iack los !.
Thsrs vas e70o0 FIRE Al 81. ssepksn