The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-16
FIGHTOF THE SILVER MEN
n MAJORITY OF THE DEMOCRATS
6IGN TIE PETITION.

The Minority Of the House Committee
on Coinage Presents Its Report on
the Bland Bill-Ths Silver Men
Charged With Trying to Bring the
country to Silver Basis.
WASHINGTON. Feb. 15.-Tbe silver men
have secured upward of 100 democratic
signatures to their petition asking that the
rnles committee bring in special order for
the silver bills. There are 23s democrats in
the House. so that the silver men have Sc.
cured a majority. They say they have
recsived assurances from the members of
the rules committee that they will do what
Is shown to be the will of the majority of
the democrats in the House, but it is not
ikelv that the committee will meet for some
DAYS, as the speaker is sick and Mr.. Catch
Ings is absent from the city.
THE MINORITY REPORT.
The minority report Of the House coinage
committee on Mr.. BANDS free coinage bill
is made public to-day. 1t is signed by
Messrs. Tracey of New York, Abner Tay-
lor OF Illinois, Charles W. Stone Of Penn
svlvania, williams Of Massachusetts,, and
Johnson Of North Dakota. The report
says:
The bill reported by the majority of the COM
oi value in the United States shall be two
units; one the standard silver dollar. worth 70
cents, and the other the gold dollar, worth
100 cents. The bill further provides
that standard gold and silver coin shall
be received in the United States in payment of
all debts The first eight lines Of the bill de-
velop its true purpose. They provide two diff
ferent dollars and compulsion upon the citizen
to receive either in payment of debts due him.
II does not require any knowledge Of monetary
or financial laws to demonstrate that compul-
sion of the legal tender power must force upon
the creditor the cheaper and deoased dollar.
Few debtors will pay 100 cents to discharge
their obligations when 70 cents will suffice In
law.
THE COIN NOTE.
Section 2 of the bill provides for the retire.
rnent OF gold and silver certificates, and the
substitution therefor of a so-called coin
note, which presumably means note
payable in gold or silver coin, at the
therefore, converts all the existing government
paper into paper which may be paid in silver,
and leaves no paper which must be paid in gold.
structions in the form of pledges to pay gold f.,
and, without a distinct declaration of
repudiation, to provide an easy track
On which We may descend to the
by the majority of the committee is not alone
tor free coinage Of the TWO metals, but provides
mat the government itself shall receive all the
bullion offered and shall issue its notes for such
the coinage value fixed in the bill
MEANS 70 CENTS FOR DOLLAR.
The true meaning and effect of this bin
should not be clouded by any misunderstanding
ot the present valve and convertibty of silver.
The standard silver dollar OF the United States
contains silver which is bou1ht by the govern
ment for about 20 cents and stamped 81. ANY
citizen can to-day purchase like amount of
silver for 20 cents. He can purchase 1884
grains of silver bullion with s7lA grains of sill
yer. which has been stamped as 81 by the gov
ernment. 1t should be understood that it is not
the virtue of silver which :, makes
tits the government stamp, behind which is the
credit Of the people, pledge of the wealth and
honor Of the republic. There can be no doubt
Of the purpose of the majority Of the commit
tee to force deprecated dollar upon the
country. A motion to make the silver unit"
named in the bill correspond substantially with
the gold unit" in the market value was reject
ed by the majority.
WHERE THE DANGER LIES
The peril is not great OF an avowed deprecia-
ton by our government of the value of its own
promises; we shall never openly repudiate our
debts, or corrupt the medium of payment; the
Danger lies in legislation such as this bill pro-
poses, which shall make the government un-
able to maintain its promises and tokens on the
basis upon which they have been accepted. The
minority Of this committee submit that the
only possible result of the legislation proposed
In this bill is prompt suspension of gold pay
ments by this gOverpment, and the immediate
adoptlon OF the cheaper monetary standard
n Of silver.
WHAT MAKES MONEY.
The report continues that the consent Of
nations makes aE6 unmakes money; that
this bill cannot raise the price of silver to a
ratio value; that it will bring silver from
foreign countries; that this silver coming
from abroad would destroy the gold stand
ard, and it recites the failure of the act of
S1O to raise the price Of silver. 1t then says:
The adoption of single silver standard then
would place the dollar unit at the mercy of the
silver bullion market; and obligations now out
andlng, incurred upon a gold basis, would be
payable in q deprecated silver dollar worth
only what the world should think it to be- worth
az q given point of time. Thus to depreciate
our standard of payments is clearly partial re-
puulatlon and unqualihedly dishonest and
fraudulent.
MEANS A SILVER STANDARD.
Yhe secondsection of the bill reported by the
Torlty OF the committee is a confession that
tpurpose of the bill is to place the United
.aIes esaIes upon silver monometallic standard. To
.u3se who are willing to accept silver stand
Nu M II tnls country, which must involve a de-
see Oh population of existing obligations,
S iere can be no answer made except that it is
s. S.tsu9nest and fraudulent; and from such moral
sonao Hnuard there is no appeal save to the moral
senSe OF the people
me minority are convinced that there Is but
I Gne method by which silver can be restored 70
i uo Irst place in the monetary systems of the
~SlQ' and that is by the consent of the nations
consa,ourGl control those systems. An international
g.. S,.tefence should be requested by the United
I1"s ISHees ana an earnest effort be made TO secure
tS S consent, and bill is presented authorizing
afy Conference