The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-15
BLAND'S COINAGE BILL.
4Is MAJORITY REPORT TO BE
PRESENTED TO-DAY.


The Report Opens With On ExpIana-
ton of the Bilps Provisions and Coin
Notes - Reasons Why Foreigners
Gould Not Afford to Dump Their
Silver on This Country.
WASHINGTON, Feb. 1.-THE report of
the majority OF the committee on coinage,
weights and measures recommending the
passage of the Bland free coinage bill will
be presented TO the House tomorrow by
Mr.. Bland. and by consent of the minority
Of the committee it has been made public
tonight. The report is long and carefully
prepared document which discusses the
various objections made against free coin
fg,. showing where, in the opinion of
the majority, those objections are ILL
founded, and how free coinage of silver
would greatly benefit this country, and
especially the producers.
The report begins with an exclamation of
the provisions of the bill reported. Free
coinage of silver is provided for, and it is
required that it be of standard fiueness TO
meet the cost Of the alloy used, the alloy be-
ing all the expense now exacted Of depositors
Of gold.
COIN NOTES.
Coin notes may be used on gold or silver
deposited if demanded. instead Of waiting
for the coin. The committee raised the
maximum denomination of these notes from
$500 to 81 600, SO as to accommodate deal
ing in large transactions and bank ex-
changes. These notes are made legal tender,
reieemable on demand. The bill provides
for the conversion of all our gold and silver
notes into coin notes, redeemable in coin,
thus doing away entirely with all legal
distinctions. 1t Is believed that this will
greatly tend to promote equality In all re-
spects. There will no longer be issued gold
notes or silver notes. but bimetsllic notes
payable in either coin at the pleasure of the
government.
DUMP OF SILVER.
The report, under the head dump Of
iilver," proceeds to discussion Of the cry
that free coinage of silver would make the
United States tho dumping ground for the
silver OF the world. The report says: "The
familiar warning that free coinage would
cause shiploads of silver from other coun-
tries to be brought here and dumped at our
mlnts in exchange for our gold is still
urged. How can this be, under the bill or
proposed lawl A shipload of silver brought
10 our mints by a foreigner would be coined
into standard dollars and these dollars re-
turned to him, out he could not go to our
treasury and demand gold for them Nor
could be compel one of our citizens to swap
gold dollar for a silver dollar. If an
American citizen gave him a gold dollar for
silver dollar, that is a voluntary trade
that no law ought to interfer with him.
COULD NOT DEMAND GOLD.
"Should foreigner take coin notes for
bis bullion instead Of coin, the same thing
happens. He can take his coin note to the
treasury and demand redemption, but the
note is redeemable in coin and the Secretary
Of the Treasury could hand him back the
coin struck from his shipoad of bullion.
The foreigner then would ascer-
tain that he had committed q
blunder of bringing silver to our
mints when it is worth 3 cents on the dollar
less than it was at home, and that he loses
this 3 cents and the cost of transportation
besides. What, then, will he do with his
noneys He must either invest it in prop
srty here, or 60 home with it. He could
not buy gold with it, or gold exchange un>
less gold and silver were at par, and in
his case there could be no reason for pre-
'erring one metal to the other. If gold
vent TO premium he would have to pay a
premium on his exchange, thus entailing on
aim additional loss in his enterprise OF
ending us shiploads of silver.
INVESTMENTS WOULD HELP US.
IF he invests his shipload of silver money
our property and business enterprises it
Will at once stimulate industries, awaken
Enterprises and give us a healthy business
md sound currency. What more could be
iesireds Every shipload of silver thus
Tought here and invested in productive
wealth would have two-fold
'nect. 1t would bring unexampled pros
perity to this country The next effect
would be panics in the old world. Business
here would be paralyzed for want of money.
yrosperity here and stagnation in the old
Countries would force shiploads of their
eople to come to this country in search Of
neir lost shlploads of money. The nations
u the old world are aware of this
they would see to it that no such
olng occurred, they knew the advantages
rec coinage Of silver would guarantee to
rs nenoe their uniform predictions that
aamlty would be the result instead Of
Nosperity. They are not in the habit of
pVing US trustworthy advice as to the
ourse we should pursue in this matter"
WINDOWS REPORT.
Ihe report then quotes frotn the report of
Ir' Window, then Secretary of the Treas
Ty lor the vearlSS9, in which the secretary
ooK the position that no danger need be
ppTehended Of food of European silver.
Inc truth is" the majority report then
SnInues, that the conspiracy formed in
@ ue Old World, planned aud so successfully
.artled through there and here was aimed
'ot ~ connne the debt paying mediums Of the
Eva.lons concerned to a single metal. gold.
WI wi tnls purpose the record of centuries
sS SaS Uroken. Gold was decreed rapidly to
,at. rse ID value, thus adding so per cent to the
0S ,utue OF credits, enrching creditors, public
iaS iab. private, at the expense of the
,sUs ,SUsols and taxpayers, enormously
aarrp4esslng the value of labor aud the
1SGucts OF labor as compared to notes
,; .lS ana mortgages. The words free
ga Ig"uage OF silver send thrill of terror to
promoters of this conspiracy and its
SSilsefciaries. N.Y. They know that when
s great government thus throws
T,,,1 weight in the silver balance the
ND Sm NV. WI again be restored to full faith
"a. W ouIdence in the future safety of sill
rs,,4 @ money of the world, the old par will
hgttuu the two metals being tied together
M 4e sSt strong ligature of forty-four states
Ef10T o3t territories, with a population oi
rfs s'VCO w on an area Of 3,001,000 square
ns,or Vhe greatest people and the greatest
Arsa power in the world eau never
sxn1s.ge 70 disturbed. Conspiracy would be
kbsCeu and defeated. 1t is this phase OF
lceds 'ae as they fear, the swapping of ship.
II It ~, ot dollars of silver and dollars of gold
sbe sS1e tue restoration of bimetallic par; It il
lhgt%Veoon OF defeated fraud and avaricc
tha MI rs In the closet OF the gold palace
The tro. are called upon to NEST in battle Oh
ee coinage question.
ur., PARITY CLAIMED.
~ Is argued frat oil O,,r rroId mil