Arizona weekly citizen., 1892-03-26
LATEST TELEGRAMS.

WASHINGTON, March 22.-The silver debate of the fifty second congress open ed in the house of representatives today and from the indications it is to be 8
 battle of giants.
 "ThIs bill,' said MT. Bland in opening the discussion, proposes to go back 8 hundred years in the matter of coinage It was just hundred years ago that tn wise founders of this government in pur- suance adopted what we call the double standard" They provided for the coin age Of gold and silver without limit at the hints of the United States, that sil- yer should be coined the same as gold, should have the advantages of the same recognition. The silver dollars should consist of 371.4 grains of silver, precisely the dollar of silver that is called for in the bill. This bill provides that gold and silver shall be coined at the ratio fixed by the act of 1857, which was called the ratio of 16 to l." or more exactly it is 10 9S to l. This bill provides tha3 gold and silver shall be equal at the hints Applause. In order that this equality shall be preserved It is necessary that silver should be put on the same plane in regard to the issue of certificates at the mint as of gold. Today the law pro vides that gold bullion may be taken to the hints of the United States and cer- tiicates issued to the owner, or that be may be paid for it in money.
 "It is not required, for its coinage"
 MT. Bland here sent to the clerks desk letter from the director of the mint dated March 16, 1892, stating that the cost of coining silver would be about a cent and half on the dollar, and that s45,OOO,OOO in round figures could be coined every year. Continuing Mir. Bland stated that while this bill placed gold ana silver on an equality in the matter Of the issue of com notes ID their deposit at their hints, 1t also maintained that equaity by providing that when the com notes should be presented for redemption inc government should be free to redeem them either Tn gold or silver as it might prefer. Thus coin notes issued on deposit of gold bullion might Do redeemed in silver or com notes issued ln deposit of silver might be re- deemed in gold just as the treasury might prefer.
 In the course of his argument MT. Bland stated that he had agreed to and would propose later an amendment to that portion of the bill providing that coin notes shall be issued as rapidly as bullion is deposited. He would move at the proper time to amend by providing that the coiI notes shall be issued as rapidly as the mInts found it practic abl9 to cOIn the bullion. In arguing for d greater volume of money Mr. Bland sad that he would admit that the refined system of credits which has grown up ln the country does to a cer- tain extent economize the use of money, but in the end the day of payment of these obligations always came and then we must have money. In 1881, when We had passed a bill for refunding the national debt the national banks of the United States surrendered S18,0O0OOO into the national treasury as a threat made for the purpose of inducing a ve- to from the president, a threat which affected its purpose, ,sand the result of thIs withdrawal of SlS,000OOO from cir culation put interest npIn New York at the rate of l per cent. day. Notes and bonds are not money, they are con veniences. The whole fight over this is between the capitalists who de- md NR applausel
 The gentlemen denounced the at tempts for international conferences, and international agreements every time .he free coinage of silver is proposed. Are we to be shackled here by the ap- athy of the governments of other na- tions? Is our financial system to be regulated, not by our own ideas of jus tice and our own cODvenIences, but by tLe conveniences of other nations? TAp- plausel. The moment this great gov ernment declares for the free coinage of silver the other nat ms will too solve that question. Self interest will com pei them to do so. The restora- tiol of silver here seems the restoration of it the world over. Gold and silver have been the servants of civilization since civilization began. They are twin brothers and when you sever the liga- ture both are dead. Before gold can leave this country there must be some other kind of money to take its place. The moment you restore silver, If gold IS taken from circulation, prices will go down in proportion, and that necessi- Sates money from abroad to purchase commodities here that go down because of the contraction of money. Every thing will be cheap. The man who holds hls gold is simply holding it for silver, for silver will take the channels of circulation. Gold is a tyrant. Gold won't tolerate any competitor. He must dominate or he will have nothing 10 do with your finances. Let silver be coin ed once and see the result then. You bring him to the level of the common people of this country. Applause l To the level of silver where he ought to be You may have to pay little mere if you have the two metals at par, but let US remember that as a rule when money is plentiful prices are good. You may hate tC pay little more but labor after all IS the only money. Wall street IS today demonetiZing labor and cotton and wheat. TLis bill remonetlzes them all. [Applause.l
 LATER-The galleries were again packed when silver debate was resumed. Bland announced that he would post f