The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-01-30
FREE COINAGE DOOMED.
Reed VIII Defeat 1t to Avenge tie
Force BIZ.

AOAC0
WASHINGTON, Jan. 29-It was not neces
sary for Speaker Reed to announce. as he d
said to have done to-day, that there would
be no financial legislation this session. This
is done to kin the free coinage bill, by way
Of avenging the death OF the force bill. This
was perfectly apparent on Monday, when
he saw, before the other force bill mer
would let themselves see it, that the force
bill could not be revived again after the
blow dealt it by Senator Wolcott and his
associates, 81 am speaker TIL March 4, at
high noon," he Is said to have said,
significantly, whom the news was brought
! to him from the Senate. This meant. of
course, that he would use all Of the great
powers of the speakership, as now consti-
tuted, to punish the silver senator's who sac
rifced their bill to the national interest,
well knowing thai II they succeeded in kill
ing and burying the force bill Speaker Reed
would kill and bury the silver bill OF
| course the free coinage men in the House
are making the best fight they can for their
bill. but 10 Is hopeless.
BosToN's PROTEST.
The House committee on coinage, weights
and measures to-day heard further argu-
ment by delegation Of Boston business
men in opposition to the free coinage bill
| Arguments were made against the bill by
Gen. Walker, president of the Boston Col
lege of Technology; Mr. Endicott, president
OF the Savings Bank OF Boston; Mr.. Hooper
treasurer Of Harvard University; Prof
Taussig, of Harvard; Mr.. jackson, q stock
broker, and Mr. Breed, all of Boston.
GOLD FOUND IN SILVER
A telegram was handed TO the committe'
from q. r. Holden, Colorado miner, now
| in New York, reading as follows: "Fitty
per cent. of the gold produced in the United
States is found in silver ore. Are the gea-
temen of Boston aware Of this factl They
are not. If they were, they would not at
| tempt to Interfere with the industry of sill
yer mining. II free coinage is defeateC
it win seriously injure the silver mining in.
dustry and consequently reduce the supply
of gold produced in the United States
Whereas on the other hand free coinage o
| silver will stimulate mining generally anC
increase the supply of gold II this coaditoI
| obtains will gold bo at premiuml defy
the Boston gold advocates TO maintain sucl
a position"
WHAT TIE COMMITTEE WANTS NOW.
Representative Walker Of Massachusetts
who is, perhaps, the leader in the Aous,
coinage eommitte9 In opposition to fre'
coinage of silver, to-day said: "The com
mitbse has had no hearings until now on th,
simple question of free coinage
In tho hearings before the com
mittee last session very littl
attention was paid by the members Of th'
committee opposed TO free coinage to th.
statements relative TO the desirability o.
free coinage, for the reason that they die
not consider free coinage the issue. TIL
committee now desire information on bot
sides of the free coinage question, and wis
any gentlemen who come before them b
direct their statements TO the followin
points:
/. What effect hes depreciation of tn
commercial price of silver by one-fifth A
Europe and the United States below IT
coinage price Of fifteen and one-half TO on
Of gold had on the price of products aud o
wages in silver standard countriesa
2. What effect has the depreciation o
silver by one-hfth as compared with gold OF
the price Of products of this country which
are sent 20 Europe In competition with tn,
products of silver standard countries; ais
on wages in this couAtryi
3. What effect would II have on the price
Of products and wagesin this country to go 4
silver monometHlisln at 10 to of gold, witt
silver and gold at their present commercial
ratio?
4. Would or would not free coinage O
silver in this country alone, at It's presen
commercial ratio Co gold, have the sam
economic effect as an immediate reduction
of our gold coin by one-fifth in weight
The committee, Mr.. Walker added, will
not report the bill to the House until theJ
have thoroughly investigated the question
as 1t is now presented TO them, and will re
port to the House as soon as that can b
| done