Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1892-02-16
THE SILVER BATTLE.
Will Be Forced by The
Democrats.
THE MINORITYS OPINIONS.
Changes in the Tariff by the Ways
and Means Committee.

have secured upwards OF lD Democratic
signatures To their petition asking that
the rules committee bring In u special or
der FOR the silver bills. There are 22s
Democrats in the house 40 that the silver
men have secured majority. They say
they have received the assurances of mem
bers of the rules committee that they
would do what was shown to he the will OF
q majority OF the Democrats In the house.
but IL is not likely that the committee
will meet for some days. as the speaker Is
sick, and Mr.. CatchiDYs Is absent from
the city. IL Is probable a special order on
the tariff will be brought In at practically
the same time as the order relative 10 sill
YER
The Report OF the Minority Members
Of the committee on coinage, weights and
measures against the passage OF the Bland
free coinage bill, Is signed by Messrs.
Tracey of New York. Taylor Of Illinois,
Stone of Pennsylvania, Williams of Mas
sschusetts, and Johnson Of North Dakota.
The minority In the report review the all.
Yer question, protest vigorously against the
Bland bill, and recommend the passage Of
a measure authorizing the president to in
vite an internal monetary conference. The
report says that the first eight lines OF the
Bland bill develop its truepurpose, They
provide for two differens dollars and o
compulsion upon the ciizens to receive
either in payment Of debts due him. II
says:
IL aoes not require any knowledge OF none.
tary or financial views TO demonstrate that
the compulsion OF the legal tender power must
force upon the crditor a cheaper and debased
dollar. Few debtors will pay 100 cents TO dis
charge their obligations. when 70 cents will
suffice IN law. This bill converts ell existing
government PAPER into paper which may be
paid in silver. and leaves no paper which must
be pCid in gold. Il is evidently intended to
clear away all distractions ia the form Of
pledges to pay gold, and, without q distinct
decls ration Of repudiation, TO provide an easy
track IN which we may descend to the silver
mononct ,llic standard
Because IL Is not acceptable money this bill
comic,s the government to buy silver as bull
lion. and pay for IL % por cent. more than its
present market value with coin note which
Will bo redeemable In gold so long as We main
tain both metals in cirt ulation at n fixed
ratio.
The minority discusses the condition Of
silver in the market, concluding with the
comment: There can be no doubt Of the
purpose of a majority of the committee to
force deprecated dollar on the
country" and then goes on TO say
depreciation by our government OF the
value of its own promises. IL also says:
We shall never openly repudiate our debts,
or corrupt the medium. OF payment: the dan
ger lles In legislation such as this bill pro-
poses which she'll make tie government un-
able 10 maintain It's promises and tokens on
the basis upon which they have been accepted
That basis Is the dollar which Is changeablo
now here. eIchanIeahle everywhere; which
"A " N nt nnr
yield anything To fire or water
The Dollar of Gold.
The minority contend that the bill pre-.
cipitates silver standard and maintains
that the effects OF the bill 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 DC convertible into one gold
dollar"
After reviewing the history Of modern
monetary changes, and making the con.
tcntiou that the consent of nations makes
and unmakes money, the minority state
that the only escape from single silver
dollar standard under the Bland bill, is an
immediate and permanent elevation of sill
ver lullion to the price represented by the
ratio of sixteen 10 one between silver and
gold This price, il IL stated, il 81. % IA m
An ounce.
The minority argue that the Bland bill
will bring silver from foreign countries.
The United States 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. Silver coming
from abroad would, IL is held, destroy the
gold standard.
After arguing that the legislation has
failed to raise the price Of silver the
minority comment on the
Eject Of u silver Standard
IA the following vigorous language:
The adoption Of single standard, then, would
place the dollar unit at once at the mercy of
the silver bullion market, and obligations now
outstanding, incurred upon the gold basis,
would be payable In a deprecated silver dol
lar worth only what the world should think Il
Va bc worth at n given point OF time. Thus
To depreclate our standard Of payments 10
clearly partial reputation and unqusliAedly
dishonest and fraudulent.
The second section of the bill reported by
the majority OF the committee il a confession
that the purpase of the bill Is TO place tho
United States upon silver monometallic
standard, To those who are willing 10 accept a
silver standard Ia this county. which must
involve degree of rcpudiation OF existing OBJ
igni Ions. there can be no answer made except
that 10 IL dishonest and FRAUDULENT; and from
such a moral standard there Is no appeal save
20 ttc moral sense of the people.
As To the Effect Of the Bul
the minority says that TO deprecistc by 80
or ~ per cent. the values of savings banks
securities, which 1t is claimed the bill will
do, would rob millions Of our industrious
citizens Of their hard earned savings The
revenues Of the government will he dcpre-
ciated in like manner, and every dollar re-
ceivod in duties and other taxes will rep
resent about tvo-thirds the amount now
hxed by law.
The minority makes a strong plea for AN
international monetary conference ~ the
only means OF settling the question fairly,
aud concludes with an argument In sub
stance that the bill II unwarrantable TO
risk. and IL without advantage TO the
country.
Appended to the report l. hill author-
ising the president to invite an int.rna-
Nonsl monetary conference.
IN Congress
wAsBrseroS, Feb. 10 In the senate q
bill was reported to reorganize the artil-
lerY and infantry branches Of the armY.