Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1891-02-06
WINDOWS LAST 1y,I,,,s.


Window at the banquet given by the
Board Of Trade aud Transportation
in New York Oh Tuesday event; z d
last weeks, Immediately after the clos,
IF which Mr.. Window died Of hear
disease:
believing that there is not enough
Of either gold "r silver in the world I.
meet the necessities IF business, I ~
IN earnest bimetalist and conce,le t.
n" one 4 stronger desire than I feel
TOR the free and unlimited Coinage "
silver, as soon as Conditions can l.,
reached through international agree
ment, or otherwise, by which sucI
c"inage shall be safe. But it is my
tirln conviction that Tor this coun,r,
to enter upon that experiment now
and under existing conditions, would
be extremely disastrous. and that i,
would result not in bimetalism, but il
silver nonomstalism. Such all ex-
pesiment would, in my Judgment,
prove n greater disappointment to it,
advocates than to anyone else. The,
Insist that it would expand the circu-
lation, and permanently enhance the
value Of silver. l believe it would
produce swift and severe contrac-
ti"n, and eventually reduce the mar
ket value Of silver. Let me brief,
suggest some OF my reasons for @hi>
belief:
Free and unlimited Coinage Of <il-
yer by the United States, while tn.
other great nations pursue an opposite
pulley, would invite all the owners o:
that metal throughout the world to
exchange 37l3 grains Of pure silver,
worth about SO cents, for 25 $40
grains of gold, worth everywhere 100
cents. Nearly Ill the nations of Eu
rope are anxi"us t" exchange their
silver for gold, and they would at
once accept so tempting All offer. The
mint statistics OF the treasury show
that the stock Of full legal tender il,
Europe amounts to $l,l01, 100000
au'! that Of his amount the banks of
England, France, Germany. Au<tro.
Hungary. The Netherlands and Bel.
GUM h"l'l s42S,S66,665. These vast
bank holdings would be ready t.,
transfer to lis at once, and the swift
est Steamers would be chartered to
deliver them to the treasury, in orde,
that With the proceeds the owners
might buy gold exchange ON Europe
before our stock of gold should he ex.
hausted.
Would our own people await the
arrival Of these silver argosies from
Europe before acting? Not unless
the Yankee has lost has quick scent O
danger, and forgotten his cunning
Bank depo>itors, trust companies, the
holders of United States notes am
gold certificates would instantly joi,
the panIc i"~. procession to the
treasury, each and all anxious to he
IN time to grasp the golden prize be
fore it is too late. Probably before
the swittest ocean greyhound cou't
land its silver Cargo at New York. tn,
lust gold dollar within reach would
be safely hidden away in privat.
boxes, aud in the vaults Of the SAT,
deposit companies. This sudden re
,ir"ment Of s6'U,O0O,0OOin COLL, Will
the accompanying panic, would eau j,
contraction and commercial disaster
unparalleled in human experience
and our country would at once stel
down t. the silver basis, when Their,
would be no longer any inducemeu
tor silver image, and silver dollar.
would sink to their bullion value
When the silver dollar ceases to huv,
more value than the bullion it con
tains, there will he little inhucemen
t" c"iu our own silver, and the cost g..
transportation willprevent its comiu:
rom abroad. How, then, will unlim
tied c"inage either expand the circu
lation "r enhance the value of silver:
| As it determined to omit nothin.
that might accelerate these result,
the advocate" Of free coinage in>i,
that it shall not await the slow pro
cess Of mint operations, but that IT,.
printing psess shall be set to w,rl
providing certificates to he issued f;Dl
silver bullion at 81 for 9Th grain
When this consumation shall ht
reached, as surely it will be it unl,m
tied coinage be adopted under exist
ing Conditions, the too ardent and i'm,
petu"us lovers Of silver will sad ,
realize the truth uttered by the wis.
King of Israel: He that loveth sill
yer shall not lie satisfied with silver.
MIR. President and gentlemen. m,
subject has tempted me to impose
upn your patience. l will close h,
merely calling your a,ten ion To-
one other thing which l deem YER,
important buth to our commercial aud
financial intrest, viz: the passage %
the bill now penling in Congress t,
the establishment Of an international
bank to facilitate our exchange will
Mexico and Central and South Am
erica. New York is destited, at n,
distant day, to become the tinarcia
as Well a. commercial centre Of thu
world, and such as institution wouli
in my judgement be u long stel
toward the end, as we'll us most valua-
BILE fundamentally for the promotion
Of Commerce with those countries.