The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-04-01

In conclusion Mr. Bland said: "l
appeal to gentlemen on this floor tc
lay aside every idea of party exigencies
every idea but that which is right anC
just and to cast their votes according
to the dictates of their own consciences
and to the pledges they made to the
| great productive masses OF this coun
try. If they do that this bill is safe,
this cause is Won" IApplause.
MR. WILLIAMS OPPOSES THE BILL
In his opening remarks Mr.. Williams
said he trusted that he woull be found
to represent not only the minority Of
the committee, but the 1.-THE majority
of the minority of the committee" as
well
81 am SO acting" he said, Sin behalf
of a cause which, so far as l know,
knows no party but is mere question
of patriotism on both sides. Applause.
A man who now draws the party line
upon the merits of this question does
not represent his cause. He represents
himself or his party, but he does not
represent the true interests of the great
American commonwealth"
Continuing, Mr.. Williams said that
members of the house would feel
obliged to vote for free coinage al
though they did not believe in it be-
cause their constituents have so in
structed them. Considerations which
now weigh with mem bers would not
weigh in local conventions and local
committees He believed that an APP
preciating standard is better than a
fiuctuating standard, better than a con-
stantly falling standard 1t had been
adjudged that as we had the free COIN
age of silver before 1873 without disas-
trous results, why should disaster now
follow this bill? He desired to remind
the American people that the none
tary conditions of the world have en-
tirely changed since 1873 and those
conditions are now beyond our control
Gold is the standard of nearly all the
nations OF Europe, and when we de-
clare for the free coinage of silver,
where will gold go? 1t will go to a
premium and premium upon gold is
discount upon silver. The rest of the
world will fix the depreciation upon
world and our standard will then be
20 cents to 81. That means repudia-
ton; it means the throwing of this
country into dishonest settlement of
every debt contracted upon our present
gold basis Applause. In conclud-
ing Mr.. Williams presented the substi-
tute bill of the minority providing for
n N II, fiona1 MONETARY oon faranoa
MR. HARTER's OPPOSITION.
representative Harter, of Ohio,
also a democrat, now spoke in opposi-
ton to the bill, and insisted that the
Bland bill instead of increasing the
volume of money IN circulation would,
in its results, actually decrease it The
day after the president signed free
coinage bill, instead of having 81, 500,
0O0, QUE in circulation for the use of the
people we will have $1,000, 900, for
money will be deprecated to this ex-
tent Democrats are opposed TO pro-
lection, yet many of them desired by
this bill to give the silver producer the
benefit of protective system.
Continuing Mr.. Harter said that
since 1873 we have in eighteen years
minted S129, 0oO 900 in gold alone, or an
average of over $40, OOO 600 per year
Now, under the Bland bill, this would
cease and free coinage would drive out
our gold and leave what remained mcr-
chandise, as wheat corn aud cotton
are. Unlimited coinage of gold and
silver on the basis of 10 per cent. of
silver to / of gold would drive out the
gold because it would undervalue it
Gold sells in all parts of the world
for % Sc times its weight in silver, and
if under free coinage we only give it
value of 10, all human experience
shows we would have no gold in circu-
lation after the president signed a free
and unlimited coinage bill This bill
is called free coinage bill 1t is not
such in any proper sense whatever,
and it is, pure and simple, bill to com
pei The people OF the United States to
buy the entire product of most pros
porous and hourishing interest, small
in the number of its members but
very rich in dollars and cents. at a
price which gives them on the cost of
production (if stated ia the language
of ordinary protection) a protective
tariff or bounty Of over 143 per cent
Not content with this enormous bur-
den which the bill places on the over
GS, 400. 600 of our people in no way in
as owners of silver mines, it
proposes to make us the virtual pur-
chasers of all the silver produced in
the world and at 81. 90 per ounce, while
much OF it costs not over 81 cents per
ounce and a great deal of it after de-
Quoting the profits on the lead prod
ucts, not over to 20 cents an ounce.
II submit that an equally mad propo-
sition never secured the assent of any
legislative body in the world and if it
passes this house, now that its provis-
ions are laid bare, it will be a record
which will come back to plague and
shame its mem bers down to the hour
when they go Into their collins If we
are to have coinage and free coinage
we must follow law and precedent
We must aim to do as this country has
always done before and as every other /
nation has done and that is 70 make !
The coinage ratio in close accord with !
he market ratios.
I'VE would, but for this Bland dis !
,ussion, be getting in fir ON Europe |
SIS, 600, 600 to ST. OOO. 900 gold month.
Instead of this, alarmed and excited. |
Europe is sending back our stocks and |
securities by the ream- Her purchases !
Of quarter OF a century past are COM
ng back by everv steamer, and instead |
If gold reaching our shores it pours
,ut and away through every channel
Continue this wild craze for free silver
md fair crops in Europe next year will
the United States. Neglect
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