Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-02-05
THE FREE COINAGE MOVEMENT.

mn rum 'OiNA6E MOVEMENT.
Tnr latest dispatches from Wash.
ingion Indicate that the Silver bill will
be shelved for the session. In the
Coinage Committee meeting yesterday
debate mn high, and by majority Of
Two. further consideration Of the bill
was postponed until Tuesday next.
The Committee on Silver Lcgisla.
ton OF the Washington State Fnmcrs'
Alliance forwarded to Congress last
night report urging the necessity Of
free aud unlimited coinage OF silver on
the same plan that gold Is now coined.
The report states that the present
siagnatIon Of business and strlngency
IN the money markets is due b All
insuiilcioncy OF the circulating mcdi-
um. II says that any attempts on the
part Of Congress 10 delay legislation ON
silver, viii be condemned by the
laborcrS and farmers Of the country.
Men who obstruct lis progress, will be
held responsible, irrespective OF party.
Banker 81. John OF New York Ia an
ardent free coinage man. A communl.
cation from him was read yesterday
before tho Colnngc Committee. II
deals entirely with the part foreign
silver would be likely To play under a
free coinage system. He says that
foreign bullion could only temporarily
teek our mints, because the mints OF
British India continue open at
moderate scignioragc for the coin.
age Of anybody's gold and sll.
YER Mt ratio OF fifteen
OF silver 10 one Of gold. Our ratio Mt
present In the United States minis Is
sixteen Of silver TO one Of gold. In
British India, then, silver for legal
tender n valued about per cent
higher than our minis value II. Not \
withstanding Banker st. Johns POSI-.
live arguments In favor Of frec-coinage, |
yet he has an Idea that II would be OF |
doubtful utility as the following words |
viii chow. He says:
"Mr. Lincoln Is said to have remarked
hat no question Il settled until settled
ight' This silver question has been for
'oarS before tho country. Il will not
Town. A trial Of equally frco coinage
or silver rs for gold will settle the qucs-
Ion. aud finally.
"llaylng very earnest conyictlops.
ave yet been unwilling 10 assert lint
hey are inialliblc. ilonco my suggestion
Or compromise for absolute safety
ihile frcc coinage can have it, trial by
no people.
THAT compromise would open our
iinls TO equally froo coinage Of gold and
liver, giving to every deposition Of bull
on notes of the United States, at coin
instead Of his coin, these notes
be maintained NJ tho equal OF gold bv
reserve OF gold and silver In tho Treas.
ry."
On the other hand the anti FREQ coin.
70 men, or as they are called IN.
'liites, contend that absolut. min
III follow free silver. The Epenf,g
Dc by figures which. II correct, shows
at during the past five months sg7
1000 OF gold has left the United
a'es while silver has increased by
:, 100000. The POD further ooni,nJ.
at II Is only a matter Of time when
9 entire gold OF this country viii be
aimed oil, and silver ia IL plac,
u this reason II demands the rene,l
last summers Silver bill, rs well ne
9 total subyersion OF the present
nate Silver bill.
The Chicago Tribune contends TINT
nee coinage Of silver, would work
'st injury to wage workers and
all industriallsts. Ina short Tim.
$50 latter classes, would feel the evil
much that they would tar and
ihef what II calls the free COINAGE
'ocales--demagogues and incendI.
u.s. II further says that free coinage
lld rob small industriallsts Of one.
y OF !heir earnings in the past, and
y one'half In the future.
nus the battle goes on. Plausible
lnents are presented on both sides
matter rests with the people, and,
" John says, II they demand IL,
hem have 1t, II only by way ofex.
menl. hut 1t looks to the dlsin-
slod aud patriotic, us II 1t might be
~ costly experiment.