The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-02-15

ton News. -.-a-
WASHINGTON, D. G., Feb. l4.-The re.
port OF tho majority. OF the committee
on coinage, weights and measures ro-
commencing tho passage OF the Bland
free coinage bill will bc presented to
tho house tomorrow by Mr.. Bland, and
by consent OF the minority OF tho COM
mittcc it has been made public tonight
Tho report 10 long and carefully pre-
pared document which discusses tho
various objections made agains. FREQ
coinage. Tho bill provides for tho con-
version OF all our gold and silver notes
into coin notes, redcemable in coin,
thus doing away entirely with all legal
distinctions. 1t is believed this will
greatly tend TO promote equality in all
respects. There will no longer be issu-
ed gold notes or silver notes, but BIZ
metallic notes, payable in either coin at
the pleasure Of the government.
The report says it is contcnded that
the reason wo exported silver bullion
out OF our mints while still open to its
free coinage was that our ratio was SO
that our coin and bullion silver was
worth moro as compared TO gold ut Euro
pnan mints than hero and that the same
result would again follow our ratio, re-
naming at lC to !, with the French
mints open to free coinage at 10y to l.
This it is held would prevent European
nations, especially France, from again
returning to the bi-metallic system. To
avoid this the committee provided that
our ratio should bo changed to 151 to l
SO sool as France resumes FREQ silver
coinage ut that ratio. SSe,
The report says il gold went to pro-
MUM the foreigner would have to pay
the premium on his exchange, thus en-
failing on him additional loss in his en-
tcrprisc OF sending us ship loads OF sill
ver
Il ho invests his ship load OF silver
money in our property and business en-
tcrprises it will at once stimulatelndus-
tries, awaken enterprises, and give us 4
healthy business and sound currency.
The next effect would be panics in tho
old world. Business there would be
paralyzed for want OF money; their
prosperity destroyed. Prosperity hero
and stagnation in the old countries
would force ship loads OF their people
to this country in search OF their lost
ship loads OF money. Tho nations OF
the old world daro aware OF this. They
would see to it that no such thing
occurred they know the advantage the
free coinage OF silver would guarantee
us, hence their uniform predictions that
calamity would be the result instead OF
prosperity. They arc not in tho habit
OF giving US trustworthy. advice as to
the course We should pursue in this
matter" - r =
Tho report then quotes from tho re-
port OF MIR. Window then secretary OF
tho treasury for the year 1889, in which
the secretary took the position that no
danger need be apprehended OF q flood
OF European silver. ..f .s,-
"Tho truth Isl" the majority report
then continues, Chat the conspiracy was
formed in tho. old world, planned and
successfully carried through and their
aim was to confine through debt paying
mediums concerned to tho single metal
gold. For this purpose, the par of CEN
turtles was brokon. Gold was dccreed
to rapidly rise in value, thus adding
iiity per cent. to tho Vnluo OF credits,
onriching creditors, public and private,
at the expense OF the debtors and tax
payers, enormously depressing the
value Of labor and tho products OF labor
Is compared to notes, bonds and mort
CAGES.
That the change proposed in our cur
fency laws involving the complete
restoration OF the bi-metallic standard,
return to the coinage of both metals
IN equal terms, will cause for tho mo-
mcni some apprehension, and probably
adlsposition to hoard gold may be en-
pected. Yet tany evils that may result
must in the nature OF the situation be
transltory. No important change that
Affects our fiscal system can bo made
without i'll some respects, in first effects
~ least, causing some inconvenience or
irc!ion somewhere. 1sf
We are now suffering all the evils
alleged against free coinage by its op-
ponents without tho realizations OF
many Of tho benefits OF free coinage
caImnd by its friends. The restoration
ol silver asamonoy metal by, this coun-
Hy would at once allay all iears Of. its
ultimate remonetization by tho nations
ol IGcworid. 1t would givo confidence
III silver as a safe medium OF exchange.
leaylng no pretext whatever for the ap-
PFsAensions now indulgel in.
Bullion purchases,h it SAYS, "will
nor Rot restore the purity OF the two metals.
n'Metalism does not tolerate the idea
lh3t ono metal--gold. for instance
snaiI be set up as tho standard by which
tHo other metal, silver, shall be pur-
s'laSGda or measured This is gold non
;;neHtIlsm and fixes gold US the measure
tuS metal or tho solo valuator. BIZ
iMetNiism means that each metal shall
oGa standard with itseli.' z Il
Tho majority then 90 on to show that
;,eo ;reo coinage would put moro money
.i'o circulation, besides doing what is
y, prime Importance, viz, raising tho
s'2tus OF silver tho world over.
a., IN conclusion, the majority submit
ii%e i!e report mado ut the last session
y! Ar. Bartine, OF Nevada, who
o was the leader OF tho free coin
"Se Republicans on tho committee.
THE LEAGUE CONVENTION.
ihs Secretary of \ynr WI, no tb,r, r.,.