Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1891-06-25
BIMETALISM.
Address Of the National Silver
Committee.
DEMAND FOR DOUBLE COINAGE.
fIasaelAl Events Claimed to Show the
SOpAisEIisS ps slpgie ttandaEd Men-A
Panic 1FtVentsd BY Timely
Legislation.

EEw YoAE, June 22-The national
executive silver committee met at the
Hoffman house. There were present
Gen. A J. Warner of Ohio, chairman;
Francis G. Newlands of Nevada, vice
chairman; L. NJ. Rumsey Of Missouri
and Lee Crandan of Washington, sec
fetary. Senators Jones and Stewart Of
Nevada were at the hotel and gave the
committee the benefit Of their advice.
As q result Of their deliberations the
committee gave out the following ad-
dress to the public:
Tho national executive silver COM
mittee desires to call the attention OF
the country TO the object lesson which
Is being exhibited in the desperate
struggle Of the great financial institu-
tions on both sides of the Atlantic to
increase the gold reserve to avoid bank
Tuptcy and ruin and that any increase
by any one necessarily reduces the re-
serves of the other. Why should such
. condition Of things exist in time of
profound peace and abundant harvests7
Why should all the great banking In
Etitutions attribute stagnation and hard
times TO scarcity Of money, while they
are exerting all their power to make
money scarce by adhering to the gold
standard, when they admit that there
Is not enough gold to maintain the
business and credit of the commercial
world?
For eighteen years the basis of credit
IN gold standard countries has been
growing narrower as the single stand
ard has been extended and the produc-
ton of gold fallen off, while the struct-
ure of credit has been growing proper
tionately larger and more insecure un-
til the relation of credit to actual
money, as disclosed by the Barings fail
ure in gold standard England, has
alarmed the world and started anew the
scramble for gold that threatens all
business undertakings and stalks as
menace to every legitimate enterprise.
1--WE have been doing business, paying
debts and distributing our annual prod
ucts by money standard that has been
growing dearer and dearer until il is so
per cent higher than eighteen years
ago, whom silver was clandestinely de-
nOnetiLed The people are determined
that this injustice shall cease and 1t |
will cease in spite of the sophistry of |
gold worshipers or the cupidity of credit |
holding classes. The remedy is in the
restoration of bimetalism. Support the |
credit structure of the banks and the |
country by both the metals under free
and unlimited coinage
Had 1t not been for the increased |
coinage of silver under the act of July,
1890, we could not have stood the drain
of gold that has recently been going
on without the precipitation of panic
and the prostration of business. Gold
and silver without limit are money by
the constitution. This money must be
restored to the people. This is the
paramount issue In this country and
should be made such in the elections
this year.
1--WE regret that the republican state
convention of Ohio practically declared
against the free use of silver as money,
when they indorSed an act of congress
which treats silver as a commodity.
The demand for free coinage of silver
is a demand that silver shall be coined
for use as money, not bought as COM
modify. 1t is a demand that silver it.
self shall be money and be coined in
the same manner for use as money as it
was for scores of years before Mr..
Sherman omitted from the mint bill in !
1873 the silver dollar.
''If the silver of the world and all that
can be produced cannot be restored to
its place as money to supplement gold,
bankruptcy and ruin are inevitable un-
less some other kind Of money can be
devised to take the place of both. Let !
the Ohio convention, representing the
gold trust, take warning that if )
silver cannot be remonetized gold
will be demonetized and pa
per substituted for both gold and (
silver. The people will not be de-
Itroyed for want of money. The gold
trust, by rejecting one of the precious I
metals, has taught how both may be
rejected The radicalism of the re-
publican party of Ohio for contraction
S in danger Of being met by a radical h
Sun for imitation. The time for sub .
serfuge and ambiguity of language is
past Platforms intended to deceive I
roters are insulting to the intelligence a
II the American people" y