New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-16


. silver mcnometallc standard; To those who are
willing to accept silver standard in this country,
listing OBLIGATIONS, there can be no answer made ex
eept 5hst it is dishonest ami fraudulent
ana no aP S@ save e to the o q1pl cn o a sro
Men speak lightly and thoughe,sly Of the creditor
and for every debtor a creditor. If the Industrial
classes of this country are not bankrupt but on the
work, it is safe 70 say that their accumula
tons have In large part been 50 invested that
those who assa the creditor class In sayfngs banks
alone. in which the deposits are usually in mall
amounts. TlOOoOOO.OOO said to be deposited
Every woiknsman who is depo>itor Is q creditor OF
country 81 o0o0OOooo are said to he invested in
mortgages. To deprecate by 30 40 per cent the
value OF these securities would be 10 rob millions Of
our industrious citizens Of their hai-earned savings
The revenues Of the Government will be dcprcciat,d
in like manner and every dollar received in duties and
amount now fixed by law. The effect Of this repudia
disastioHS to lie borrower As rule. the poor % are
not in debt and those who borrow have means Of pay
Reputation Will benefit the rich and the money deal
ers more than any other class. They can protect
the minority Of this committee favor bimetallIc
j desirable that silver should again take the pace
in the worlds monetary system which ii occupied
before the financial policy ~ the civilized world Iclc
gated 1t to secondary place But they recognize CLIO
the fact that the great OF silver in the world
to nearly $1,000 900 900. caamo 2c moved in yaln, by
the fiat Of single nation which possesses and controls
3
are convinced thai there is but method by which
silver can be restored TO first place in the monetary
systems OF the world. and that is hv the conse If all the
nations which control thoSr systems An nlcnat Onal
conference should be requested by the Unici states
and an earnest enOr mad" 10 secure Thu consent.
Not even The advocates Of free silver coinage deny
that TINS Is an experiment new In me history Of mnn-
kind. ana lqScd upon conditions which have never
existed. When We attempt 10 raise IN" price Of
undertake To Mt also the value of St.4oo 100000
worth Of foreign silver in The value Of which We have
/ Il. II
Of this experiment. seventies Of " ch is for III"
bcnen! Of foreign countries, T.: TO be thrown upon the
rency VIII not be increased. but diminished. The bin
ton invite foreign holders Of securities sell At
any price to escape loss by reputation and our whole
monetary system will he thus disrupted. No possible
gain 10 our people can be demonstrated.
The minority of the committee, therefore, in pursu
of these views recommend that for the bill re-
ported by the committee there be substituted bill
authorizing the President to invite an international
monetary conference The report i, signed by Charles
Tracey Abner TAYLOR, George Frederick Williams
The majority Of the Committee on Coinage expects
to bring tie bill before the House early next week
to close debate and bring ii to vote after certain
amount Of discussion.
Mr. UPTON on THE MAJORITY REPORT
The report of the majority Of the committee, FOR the
! authorship Of which Mr.. Bland receives an undue
amount of credit is admitted by the opponents Of the
free coinage Of depre lated dollars 10 be the abcst
which has been made mat side Of TIE question
A fair ANALYSIS OF the report mad. to-day by Mr..
Upon, formerly Assistant secretary Of the Tr asuf2
urder Mr.. sherman. in conversation with a Tribune
core pondcnt In substance, hc ad;
Nj bland's report j. ole Of signal AFFINITY ana
lust escape, being good argument AGAINST tie CON
age Prop sed lie sets forth clearly ina nnGi tc
Of silver currency OF Of the foreign silver bullion bcne
dumped upon Our shore, for coinage llr treats A.
dyidull Is going 10 give GOLD dollar for silver one
lOll- the commer,m yaes ol ne Two d. it' 1a,
l.Ff IL
tie holder Of silver bullion VIII De "b" t. -c' rom
the min! OIL, the cll acnt Of the s,@r %g ia
thereon wiz he a guarantee only Of The weight ana
tncn.s, of the metal. not Of an fciiou, value bar
thnt fine coin i, 10 be- j. -.u tender u tir payment
of ali deot, pubic ana private N1i." ii,r rt L
the mntage Of the bullion OF the most imporiah
character enough not strongly brought To A-l III tue
80 much Of the report +, clear and d-pel, nue.,
Of the confusion which ms fN.s't t III ,y W. of the
ire coinacc Of Silver. There can BE- no que "n nD'n
that Willie 10 man would be o h-od 10 a', pi ,Iv'
dollar Tor gpid one, hr ""H,I -. "n ' " ,,,o,.n,
., auv dclis due him, although hnt Tor ~. u
c.inasc OF silver liz would receive therefor Only e'l'
jGdcr Ii provisions Of the Propoed b t1e 1n'ti
stale. ~ rv STAT. every count, every nuhlr" u'F-
.yrry .chool district. every railroad. bank or ot1"f
bnliion and win every 800 obtain $3.50 ir"m OBJ.
med ~ttt Mint ana pay Oh their ~ dito.- with
Ines. dollar. fli, may NOT De- ia fact hn b. j. Do
If. c. a compulsory exchange by thr debtor "i goa
dollar, for silver dollar, with profit % ln "i %"
pcr cent Whether such clan-e can cons. silently
l.. made urd.r the common understanding oI com
u,erril iuc,,ity ard personal honesty. D. gI 'S.i'l
which Mr.. Band dos not discuss hui " 'l' h J, H"sI
h. well for the country 10 consider VIZ. Lana '.n-
somewhat anprchcn-ive That under h, iie'c"ii"A-'
scheme gold may refuse to drcu"'r A'H uh'i l 1'
circulation Of m country mai thcip' %" r'','
probably six hundred millions. e. . npS't,int d" ;"i
pres mt monetary conditions ana lnNIlHRE h'' w.,
rum and panic throughout The country but hr s"l WA.
.ucb things must lee expected In any graf chait' ana
! that the results which Will folio" rom the IRE
coira e. Of silver will NOR. than cOmprl "'r ~. w.
evil. dreaded. ''l' OF lhc -l''' .'"'''.'-
which Mr. Band secs IN IA ihhinfn,, ID. ~ 49, .i,',.
Is Tie incrasd prices OF our ammonium i - ,l
> liver dollar taken at IT, c'nmer'!i N"n. ~ ". ~
tralrdnay figuring. ne 'a'' 't' ', n, " 'I,,'t -,
wheat In L.di obtain far more for the', p!ginl M
/. a curious and remarkable falhc\. VII. Inlu
bushel Of wheat anywher" ara T. ,ir n'' NAME,
for II. he need have no concern WhAl hHu v, ",nor
he is paid in whether silver. goo, ' oa6n, cciyrd
viii have the same purchasing power. ING SIppI
noo II, e5ld lie can take the gold back to india
can pay il ont intact or can convert II mo rupr ,n
power Of that money will be prec'gL re ,, e,
! Nr Gland who seems 10 have studied t"'e i"''''''
mus, i Eno% S,r If hi country ar to DE benefited BY
| ,,t,ng rnll for their product ln England ana ","i,
paid tor ,rar,T p"ngds Of liver 10 equal Of god
would there not be eater advantage III "'"7 F'''
/ f., c,unrr N 100 pounds for one u gold , GA,
Nix Hlard should understand that NE aiiiiIi' not b,
W,st were not born yc,crl4., aau 'ne r,mipnlatn~
| he currency i'm way they can ~ any ,' rIc
,Irir wheat than they can II paid Tor u III ep'i' ,
'v odvaniagc that possibly come rom n - '
n,,i,'',.eI Lv Mr. bland j. 10 the debtor cH., H.
onni 'd 70 them it viii prove boon for viii enable
upiD' nav n civ dcbts in deprecated Currency. hnt
=" m other class can II De Of any IO>sibl' t.
So Tar a. future contracts are concerned WerI r a.
n,in in gold o. silver. particular h1'h'Ht' n'd
advartag. can arise TO either ca-s mi io 'cl- | 80
rtroc,4d there T. a undOuht-d and - N aiNu''iS
,bn debtor class I'm paving n gold dcni Wl'H Hf
d,u,r II would be Sill greater WlV'n'hEr 10 ~.
u3Ih' law outbO lzing TIE cancellation ~ the ~ ~
Without any payment thereon at al 'h"nn g' h,,v
w.. eucb a renudiatiOn Mr.. Bland him-flf WON nary
dro advocatc \ pul'anOn NJ onc-thlId OF inr u'n,
- H." country public and private. n prol- IH w.,
I'm & All he can advocate AT present. ana ne i Ho'
,crv hold in doing that.