Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-02-15

hENN hNAlNtt lfet tVih"aNf - -"
ion Of the commlttee,o only one OBSERVES
seiipus consideration, that we shanse
proposed In the currency Jaws lnNoiV-
ing complete rcstoraton 10 pimel-
allie standa,d. n return TO this coinage
Of both metals on equaltefiihtNill cause
for = moment some apptthenNlolsh anu
ptobnblv Jiauoaltion 10 hoard gold
may be- rxpeeted, yet nuy evils that
t.siilt nusl lie i'm the nature Of iraui.
tory ONES, To restore silver now would
not make the radical change effected IN
our currency laws by thu act of demo-
netzlnp. Indeed, characterization took
place without warning and at n time
when we were looking 70 the resump.
ton NJ coin payments and surely need
ed all the apccie possible. We have
approached free coinngo gradually.
A few t.mid people aud mlaers
might for q moment hoard thcir
gold, but the gold In this county
Tor the most lart IL held by n clnss oi
clti1cns too shrcwj 10 Nrow away the
inlcrrs. on gold. We b suffering all
Inc evils avninst free coinage by its op.
pouonts without tho realization Of the
many benefits claimed by ~ many
friends. IL would give confidence IN
silver ne medium Of exchange, luav-
ing mo pfe,uxt whatever for the appre-
hunflon now INDUCED IN. There
could BE- no boarding Of gold. Tho stock
ol coined silver that wouid be added
10 tho worli's money would ia the
nature OF thlprs cheaper gold and
render less burdcnsOnio gold contracts.
Tho report then nkcs up the qucs-
tiOn OF the
RELATION on THE SILVER QUESTION
10 INDIA,
for the purpose OF showing that de.
mOneNEatiOu operates a. q bonus on
Indian exports 30 our dtsajvantagu.
n says II IL FAC, that nearly tho whole
Of our exports " agriculture 20 10
European gOld-using conntrios, 10 be
sold In competition herewith. 10 IL
claimed, nEd the history Of prices show,
that, a. silver Is compared TO gold, 20
In about the same ratio the prices Of
our farm products fall. To say That
oliver Il low 10 taniamount 10 saying
that tie price Of cotton, wheat and
other farm exports H. depressed.
Countries having silver standard
avoid ~ far ~ possible foreign debts,
Tor silver 80 compared with goli il dc.
prcciated 10 settle foreign balances.
Therefore. silver entails q lofHo ditloT.
oncr Ia exchange between silver and
gold 20 India IN sending her silver
money to pay for her balances, aud the
! whoat anu cotton and other exports
which Ia the currency have not lort
their value Rt home or abroad. Tho
gold dollar will buy silver enough In
the London market 10 coin into Sl.2j
at our ratio. Therefore, the farmer IA
silver standard countries really got
sl.25 for his wheat. The American
farmer gets his dollar In gold, but can't
for that gold dollar buy silver for coin.
age ~ homo for the reason that free
coinage Is denied him, silver coinage
hero being limited 10 the government.
Free silver coinage would put silver
aud gold ON a practical parity, thus
putting the American tnrIner on au
equality with the hindoO and other
eiiver people. II IS beyond doubt that
the free coinage Of silver would thus
add At least II to 10 per cent. to the
value Of all iatm products.
a telegram from New York, dated
February /, IL also quoted. The tele.
gram related that
COTTON HAD 1uAmLED
tho day before, and amer noting that
the decline was partly due to the largo
unused supply, said:
"Thc low price OF silver IA also n fac.
tor In tho decline, as England sUttlos
with India In silver, aud the lower
silver goes tho cheaper England can
buy In India"
Continuing, the rcpOrt says that
brohdstuils arc doing somewhat better
now Than cotton, owing TO the failure
o. ruch crops nearly everywhere except
Ia thv United States.
This brings the report up TO the dis
culsion OF bullion purchases. "Bul.
lion purchases" IL SAYS, "will not 70.
store the parity Of the two metals. Bl-
motallism does not tolerate the idea that
one metal, gold for instance, shall be-
sot up as the standard by which Tie
other metal, oliver, shall DO purchafad
or measured. This Is gold mono.
netal!lsn, and fixes gold as the
measuring metal or sole valuator. III.
metallism means that each metal shall
bc n standard with itself. Tho
free coinage OF silver means that
all silver bullion Of 4l.l grains stand
ard, and 3sl grains OF pure silver
shall be worth a dollar In lawful pay
munts. IL ~ bullion that IN fact Il
legally monetized. This being ~,
bullion Of AZ! grains Of standard sill
yer Is always worth n dollar, because
the law no declares. silver cannot fail
below the value which the government
gives at tho mint, because the mint Is
an open market for all Of Il at n fixed
price. Tho same may be said Of gold.
Yet other countrits may make such q
demand for gold AS To make that metal
moro valuable than silver. They may
In Time make such demand for silver
~ to put II above gold, but at our mlnis
they remain the came in their debt.
paying power" Tho report quotes
from u well known authority 10 the
oilect thnt, ~ the people want always
10 pay In cheaper money, tho demand
under the double standard for tho metal
which falls of In price results In rails.
lug the value OF that metal again aud
bringing tue two together.
In conclusion, the majority submit
tho report made at tho last session hy
Bnrtine OF Nevada, who as the leader
OF the free'coinage Republicans, made
n comprehensive, exhaustive and ludi.
cclnl review OF the silver question In all
its details.
TANNER trust.
PHILADELPHIA, Feb. IA morn
Ing paper says that combination OF
English capitalists, through an agent
Acre, Is attempting tho formation OF
the tanners OF the United States into
a A. TO-