The record-union., 1891-02-11
Conference Held by Republican
Silver Advocates.
AN EFFORT TO BE MADE LOOKING TO
FREE COINAGE.
st. Louis Merchants Appear Before
the House Committee end yigor-
ously Protest Against the Passage
of the Bill Adjournment of the In
ternational Monetary Conference.
Special to the REcoRp-ux1oS.


WASHINGTON, Feb. 1O.-The silver
question continues the chief topic of dis
cussion on the House side of the Capitol,
and to-day matters have taken q new
shape. The silver Republicans had a
conference last night. at which there was
pretty general and free Interchange of
views. 1t was determined to make an
effort locking to the free coinage of
the American product, with seigniorage
charge on foreign silver, in quiet way.
The advisabiiity OF holding party eau
Gus on this proposition will be nooted.
Those in charge Of the plan are not very
sanguine Of success, and at present the
situation is full Of complications.
The Democrats, it has been found, are
not as o rule willing to favor any meas
ura which does not provide for absolute
and unlimited free coinage, while to a
very considerable number of Republi-
cans the free coinage OF the American
proiuct is almost, il not quite, as obiec-
tionable rs the bill which passed the
Senate. In view of the many difficulties
in the way, the silver men are moving
very slowly.
TESTIMONY HEARD BY THE COMMITTEE.
WAsHINGToH, Feb. 10.-The House
Coinage Committee assembled this morn
ing. George Leighton ard L. A. Hitch
cock OF st. Louis, representing merchants
and manufacturers with capital of 800. :
Coo, 900 who signed the memorial against
the passage OF the free coinage bill, were
present, and the former addressed the
committee. ''fhe memorial signed in St.
Louis" he said, did not have the sigma
ture of a single banker or capitalist y
Vrs.~ .4<.., Il LIZ. 4
now i'll such close business communica-
ton that an international bimetallic ar
rangement might be effected on proper
ratio, but that nothing could be accom-
pliSned II this country started out with
the determination to force the acceptance
OF It's views. Notwithstanding the cry of
interested parties he maintained the great
body OF the industrial people of the West,
and especially OF Missouri, were opposed
90 free coinage
Witness having stated it was necessary
that the currency should be of metal
whose value varies least, and that metal
was gold, Carter called attention to the
fact that silver never varied so greatly as
gold between 1S4S and 1880, and then
asked why the use of both metals would
not constitute more unvarying standard
than either OF them separately, as expert
ence had shown alternately but tnot stimuli
taneously that the supply OF silver had
increased.
Witness, in reply, said he was bimet-
allist, but believed the free coinage of sill
Yer, without an international agreement.
would not mean bimeiallism, but the use
of silver only. That the silver agitation
had greatly affected business, he said was
shown by the fact that notes and new
bonds now in many instances were made
payable in gold by contract. The silver
advocates might say the gun was not
loaded, but the substantial point was that
good many people believed it was
loaded, and nothing should be done to
disturb confidence when business was in
very satisfactory condition. In the end
it would be the consumer and the pro-
ducer, and not the business men, who
would have To- bear the burden of the
wide fluctuations. Commerce would al
ways take care Of itself and would ALWAYS
charge a premium that would more than
cover the rise taken. In his Judgment,
| this country was already adding too much
silver to the currency of the country, and
our getting on silver basis. All the talk
about public sentiment in favor of free
coinage was bosh. 1t was a manufactured
sentiment that did not exist
INTERNATIONAL MoNETRYY CONFER
ENCE.
WASHINGTON, Feb. 10.-The Interna-
tional Monetery Conference has adj
journed until March sd. The reason as
| signed by prominent member was the
fact that the legislation now pending in
Congress may materially change the stu
alton of silver, and until the question is
disposed of it is not thought advisable to
! further discuss the subject Of interna-
tional coins.