The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1892-02-16
MINORITY PROTEST
Objections Raised Against the Silver
Coinage Bill.
IT rs SIGNED BY FIVE MEMBERS.

They Assert That the Passage or the
Measure Would Result in 4 De
preciated Dollar, Would Destroy
the Gold Standard. and Benefit
Foreign Nations.
WASHINGTON, Feb 16.-The report OF
the minority committee ON coinage,
weights and measures against the pas
sage Of the Bland free coinage bill is
signed by Messrs. Tracey On. ", Tay-
lor Qlls.l, Stone pa, Williams (Mass.)
and JohnsontN. d.. The minority re-
views the silver question, protests vigor-
ously against the Bland bill, and recon-
mends the passage Of measure author
izing the president 10 invite an interna-
tional money conference.
The report says that the first eight
lines of the Blan bill develop its true
purpose. They provide for two different
dollars, and conpulsion upon the citi-
zen to receive the other in payment due
him.
The Road TO Republication.
It does not require any knowledge Of
monetary or financial views,n the re-
port says, ito demonstrate that the COM
pulsion of the legal tender power must
force upon the creditor q cheaper and
DECEASED dollar, Few debtors win pay
100 cents.tO discharge their obligations,
when seventy cents win suffice in law.
This bill converts all existing govern
ment paper into paper which may be
paid in silver and leaves no paper which
must be paid in gold. Il Is evidently m
tended 10 clear away all distractions in
the form Of pledges to pay gold, and,
without distinct declaration OF re-
pudiation, to provide an easy track on
which We may descend 70 the silver
tm0n0metallic standard. Because 1t Is
not acceptable money this bill compels
the government to buy silver - bullion,
and pay for it nearly 50 per cent more
than it, present market value, with q
coin note which viii be redeemable in
gold 90 long as we maintain both metals
lin circulation at the fixed ratio.
A 'sDeprcciafed Dollae.~
The minority discusses the condition
tof silver IN the. market, concluding with
doubt Of the purpose Of majority ct
1.-THE committee to force depreciated
Ifdollar upon the country" and then goes
ben. to say that the danger Is not great of
Ian aVowed depreciation BY our govern
lsment Of the value of its own promises.
The minority contend that the Dill
must precipitate silver standard and
maintains that the effect Of the bin will
be that the mints Of this country shall
receive all the silver which may be sent
from any quarter for coinage into
dollars. sixteen OF which shall be CON
vertible into one gold dollar
1T Is perfectly clear, " says the report,
that at the very moment the treasury
Of the United States shall refuse to pay
gold coin upon demand no one else will
receive sixteen silver dollars in lien Of
one gold dollar, because the single Gus
toner Of the world for silver at that
price has refused to purchase The mi
nority of this committee submit that the
only possible result of the legislation
proposed in this bill Is the prompt sus-
pension of gold payments by this gov
eminent, and the immediate adoption
OF the cheaper monetary standard Of
silver
Foreign Nations Would Benefit.
After reviewing the history of modern
monetary changes and making the con
tentiOn that the consent Of nations
makes and unmakes money, the minor
gle silver dollar standard under the
Bland bill is as an immediate and per-
manent elevation Of the price Of silver
bullion to the price represented by the
ration OF 16 to between silver and gold.
This price, it is stated, is $1.29 IA per
ounce.
The minority argue that the Bland
kill will bring silver from foreign coun-
tries. The United States, it says, is the
only source of supply to Europe, and our
gold, by virtue of the bill, becomes
available to take the place Of unstable
silver.
The free coinage problem is not, there
fore, the minority holds. one that con-
Germs the mere trile of superhuous
bullion in the annual product Of the
mines, but it involves probable action
by every nation in continental Europe
to dispose of its silver in exchange for
gold when any market shall offer such
exchange"
Would Destroy the Gold standard.
Silver coming from abroad would, it
IS held, destroy the gold standard.
'sDepreciate the standard of the dol
lar, says the report, s.and every pen
sioner OF the country, every holder Of
policy Of insurance, every widow and
orphan enjoying the proceeds of trust
funds will by SO much suffer from this
fraudulent reduction of the standard of
the country. The revenues Of the gov
eminent win be deprecated in like man
ner, and every dollar received in duties
and other ways viii represent about
two-thirds Of the amount now fixed by
law"
The minority makes strong plea for
an international monetary conference as
the only means Of settling the question
fairly.
Navaios and Cowboys Fighting.
DENVER, Col, Feb. ia dispatch
from Albuquerque, N. M. saws that the
NaYain Indiana nnanad fra rlr,l,.. liz