Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-01-09

The National Committee Ar
CUES the Coinage Issue.
1T MUST BE NET AND SETTLED.

1T MUST BE MET AND SETTLED.
Principal Points in Docun cnt Against
Recommendation The state Presidents
the Alliance Also Hav.. Something to
Say to Ongress-Reme,Iics Suggested
for Depression in Agriculture Blaine
and Harrison As Viewed by Those Who
Know Il AiI-The Premier on Duty
Again oHcial Notes.
WASHIEGTyS. Jan. 9-Chairmau War
ner and Secretary Lee Crandau give out
the following the result OK the past
three days deliberations here Of the M
tionai executive silver committee. and the
position that the committee VIII take To-
ward silver legislation during this con
gress: "The national silver committee de
clares that continued experience demon
strates tuat there has been no adequate or
final solution ~ the money question ex-
by re-enGO"iI1 silver with the money
function, and masking silver coins stand
ard money cC-egual with gold for ell
money uses. The prcseu, policy " making
subsidiary money u silver u he redeemed ia
gold, and OF pil.lg continually higher the
fabric OF credit and credit money on con
stantly aiip ui-hing basi, Of gold, i III
sound and unsafe and must come 10 an
end .
Want the Pyramid on Its Base.
~WLat Is wanted is not more credit cur
renCy relatively 70 standard money, but
more standard money relatively TO credit
ard credit rur-.Yay l~r,..g... t.a..1e - mi
mary money aud not "a higher superstruct-
uTe OF credit devices. This can * secured
only by making silver aud gold co-eqUal AZ
money metals. with the coinage % both "n
equal terms 'Chs act OF July "A, 1890 as
interpreted ~ the treasury department,
under which over H. so, 100 ounces Of silver
are bought aud stored as a collateral Secur-
ity for notes rr-jeemuUle in gold makes no
addition u standard money, while it raises
higher the fabric OF credit On q foundation
that = growing narrower and not broader
Arguments for Eimetali~TO.
"The facts upon which bprnetalists base
their conclusions are unhisputed and un-
disputatle. The arguments by which
they are established are unanswered and
nswerablr Thc~r facts are that the
supply VI gold Is admittedly inadequate
to provide for the worlds needs for money.
That many times more people are now
made 10 use gold exclusively a. standard
money than IN l,73 that the production of
gold * diminishing, while population.
wealth and commerce and the cOusump-
ton OF gold I'm the arts are rapidly in
creasing-tht increase in tire demand for
the arts and dentistry ia tine United
States alone being sufficient to absorb,
cOrdiu% to the report Of the director OF the
mint, in ten years more, the entire gold
product Of this country
Gold increasing iH Value.
"That the value Of gold under these in
fuence5 has largely increased and must
continue To increase and prices a. certain
ly continue to fall is too evident to require
argument What fraudulent prpten-e,
in view of these facts, to insist that gold
alone is stable Or honest money stand.
ard. Scales that measure with no more
fairness than gold registers the value Of
product and the equities between debtor
and creditor, and in deferred payments,
would be tolerated nowhere outside of IA
robbers den.
Market and Monetary Value.
Nothing could he more absure or ride
ulous than to claim that shapeless lump
OF SILVER, 10 when monetary use j. denied,
measures the value of silver coins which
have monetary use added to whatever her
use silver may be applied Gold treated
as silver has been would act in the same
way. The bugaboO OF foreign sill
yer coming here no longer alarms intelii-
gent men Under free coinage silver would
be S1.29 an ounce here; it is Sl.3S in India,
and with open mints would be 81 - in tie
states of the Latin Union, which is the
value of all the coined silver of Europe.
The Silver Question AN Issue.
"The silver question, therefore, is an
issue and one that vitality concerns the
welfare not only of the industrial classes,
but of business generally, and it will not
down at the bidding of any party; nor can
it be ignored, thrust aside, or lodged. 1t
is living issue and must be, met and
settled; and the only permanent settle
ment is the restoration Of free bimetalic
coinage, or the ultimate Abandonment of