Arizona weekly citizen., 1891-11-28
TELEGRApHIC.


mining congress session was occupied
by Senator Stewart of Nevada. who
delivered long address, upon the silver
question. He took the ground that
silver had been demonetizsd through
the influence of Wall street, and urged
the congress to adopt resolutions that
would compel the national house Of re-
presentatives TO pass laws restoring
silver to a parity with gold. Resolutions
| favoring the coinage of the American
product only, the senator said, would
not obtain twenty votes IN the assembly.
He entered into big dissertation upon
| the value Of silver as a circulating
medium and concluded by referring to
the California gold movement as the
foundation of the western country. 1t
had brought into existence states and
territories which had never been
gold and silver which furnished the
| basis of credit and made the preserva-
tion Of the union possible. Pioneers Of
the west opened new empire and were
accordingly popular. Times had changed.
Politicians appealed to their constituents
| against the silver movement, saying the
agitation proceeded from spectators
who desired to sell their product for
more than its market value. This blow
proceeded from the men who struck
down silver and aimed blow at the
prosperity Of the nation. They said
gold was better than silver, but where
100000 people use the latter compare
lively few used the former. The gov
ernment, which 1as sustained by gold
and silver raised in this section, has
made gain of the silver that has gone
into the treasury. Miners only ask the
market price, while the government
bought at market rates and sold at cur
rent value To talk about maintaining
the parity of the two metals is absurd
Do they believe they will rehabIlitate
silver and restore it's original parity? If
it is to be credit money it is tOo ex
pensive to print promises to pay up on.
Silver is now discarded, the gold ring
has repudiated it and they have reduced
the issue of commercial paper to the
narrow limits of gold alone. There was
about s4,0OOO0OO00 One half of this is
insufficient now if 20 years ago the
amount was inadequate. As con
sequence farmers are growing poorer and
the history of bank failures showed
that their circulation was not enough 10
keep the banks in reserve funds. Why
should there be hard times with a
quarter of century CT peace? Why
should times be worse than any other
time in the century? Want of money
was the cause. England had demone-
tized gold in India and maintained it in
England. Secretary Sherman, after
visit to England ana conference with
the gold bugs, returned home and sur
reptiously incorporated in a bill the
clause rejecting silver. If this had been
done to gold it would not be worth %
cents on the dollar. If il could not be
used for money it would have no COM
mercial value. But silver was univer-
sally circulated. II could not be des-
troyed, but l. could be oespreciated.
There was no surplus bullion i'll the
world previous to 1890. The entire
product was used for commercial purp-
oses. Great Britain was constantly sell
ling silver short The interest pay
ments of that nation were $50, ,COO,0C0 an
nually and were derived from the sale Of
silver When liver went up last yea.
England sold twice as much as the re-
quirements of the nation demanded, and |
they would do this SO long as silver re.
mained and commodity. Civilization
has kept pace with the growth of mires
and no nation in the world has been
aole to keep going after the exhaustion
of the mines. This nation has been
especially favored, but the greed of
misers has stopped the wheels OF prog |
ress. They increased the purchasing |
power of dollar. He protested agasnst |
the long dollar. Cheers The country |
was being robbed; the railroads were |
bonded TO the extent of S5.OO0,000,OO0 !
which was heavier than .Sl0,000,000, coo |
eighteen years ago. The farmer paid |
this assessment, the producer was tax
ed TO the utmost and the consumer was
asked to pay 80 per cent more than he |
should. The middleman was growing |
rich and the producer was growing |
poorer, because they ma3a = long dollar |
enough dollars could not be found TO |
pay debts. Hence stagnation and hard |
times were common. Want of money |
would make every man coward and !
there was not tramp In the city who |
would not fight at the drop OF a hat if |
you put 81 ,0G0 in his pocket.
LATER-sILYER RESOLUTIONS.
DENVER, Nov. 2O.-The committee on |
resolutions appointed by the Mining
Congress agreed upon their report, de-
claring that first National Mining Con !
gress is rnalterably in favor Of bi |
metallism.
That gold and silver should have by |
law equal rights, and to that end de- |
manded of the congress Of the United !
States that enactment of laws by which |
shall be coined free in all mints equally |
with gold and to have with it full unre-
strIcted monetary power, and tnat they be
in ratio of 16 to l, and when the coinage |
is represented by treasury notes each |
dollar shall represent 4l215 grains of |
standard silver or 25.S grains of gold.
BALTIMORE, Nov. 10. - Celso Cesar
Moreno, the Washington American agent |
of the national party of Hawaii who was
in Baltimore last night, had several let !
ters from the leader Of that party in Hon |
olulu that tell of the strong political fer |
ment there The Hawaiian leader. WHO |
was one of the revolutionists in 1889 !
asks Moreno to see Secretary of State !
Blaine and find out what attitude the |
United States would assume toward the !
proposed change of government If effect !
ed in the Pacific islands. His letter also !,
particularly begs the secretary will keep /
his hands off the domestic affairs of the |
Hawaiians and that be will not permit |
ships of the Urited States navy to in |
terfere against the interests of the native |
revolutionist who expected to assert |