Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-03-23
THEIR SPEECHES.
what Was Said For and Against the Free
Coinage Measure-Strong Arguments.

what Was Said For and Against the Free
Coinage Measure-StrOng Arguments.
WASHINGTON, d. c., March 22.-The
silver debale Of the Fiity-secOnd Con-
gress opened in the House of Represen-
tatives to-day, and from the indications
it is TO be a battle Of the giants. Chair
man Bland, Of the Committee on Coin
age, Weights and Measures, opened the
discussion in behalf OF the free coinage;
Williams, Of Massachusetts,, an anti
free coinage Democrat, made the open
ing speech in opposition TO the bill.
The galleries were crowded at
1895 when the free coinage bill was
called up under the resolution Of the
Committee on Rules and its reading re-
Quested by Chairman Bland.
Mr.. Tracey, Of New York, at once
raised a point Of order against the bill
being considered in the whole House,
holding that as the preparation Of coin
in notes by the treasury for the eX-
change OF bullion involved expenditure
by the treasury, this bill, like appro-
priatiOn bills, should be considered In
the committee or the'whOle.
The Speaker, however, held that as
the bill did not make a specific apprO-
priation 10 should not be considered In
the committee of the whole, and Mr..
Tracey acQuiesced in the decision OF the
chair.
BY unanimous consent, on the request
of Mr.. Bland, 10 was agreed that even
ing sessions should be held to-day and
tomorrow from 7;30 to 1880 for the
consideration Of the bill
s.This bill. 80 said Mr.. Bland. in opening
the discussion, proposes 10 30 back hun
dred wears in the matter Of coinage. II
was lust hundred wears ago that the wise
founders Of this Government adopted wnaJ
we call the double standard They pro
vided for the coinage Of gold and sill
yer without limit at the mints Of the Unit
81 States. that silver should be coined the
same as gold, should have the advantages
and the same recognition. The silver dol
lars of the United States should consist OF
S1i 4-l6 grains of silver, precisely the dol
lar of silver that is called Tor IN this DILL
This bill provides that gold and silver shall
pe coined az the ratio fixed by the act OF
1857 which was called the ratio OF 10 70 J.,
or more exactly, it IS l29o to l. IhIs OIL
Drovides that gold and silver shall Oeequal
at the mints. Applause.
IN order that this equality should be pre-
served. it is necessary that silver should
be'put on the same plane in regard to the
issue on certificates at the mint as the
gold. To-day the law provides that gold
bullion NAV be taken 70 the mint or the
United States and certificates issued to the
owner or thache may be paid for 10 IN
money. He is not required 20 wait Tor us
coinage
Mr.. Bland here sent TO the clerks
desk a letter from the Director OF the
Mint, dated March Is, 1892, stating that
the cost Of coming silver would be
about IL cents per dollar, and that
$4,000, 900, I'm round figures, could be
coined every year.
Continuing, Mr.. Bland stated that while
this bill placed gold and silver on an equal
ity in the matter Of the issue OF the coin
notes on their deposit az the mintS, IL also
maintained that equality by providing that
when the coin notes should be presented
for redemption the government should De
free to redeem them in either gold or sill
yer, as 10 might prefer. Thus coin notes
issued on deposit Of gold bullion might be
redeemed in silver or coin notes, issued 10
deposit. OF silver might be redeemed in
gold Just as the Treasury might prefer.
In the course Of his argument Mr.. Bland
stated that he had acceded TO, and would
propose later on an amendment TO that por-
ton Of the bill providing that coin notes
shall be issued as rapidly as bullion IS oe-
posted. He would move az the proper
time TO amend by providing that the com
notes shall be issued as rapidly as the
mints found it practicable TO coin the 0ul-
lion.
In arguing Tor a greater volume or money,
Mr.. Bland said he would admit that the
refined system Of credits which has grown
up in the country does 70 certain extent
economic the use OF money, but In the END
the dav Of payment Of these obligations al
ways came and we must have money. In
1881. when we had passed bill for refund
inc The national debt, the national banks OF
the United States surrendered SlS,0OOOOO
INTO the national treasury as a threat made
for the purpose Of inducing veto from the
President threat which effected its pur-
pose. and the result of this withdrawal OF
$4,000, 900 from circulation put interest up
i'm New York az the rate Of l per cent. a
dav. Notes and bonds are not money;
they are cOnveniences. The whole hght
over this issue is between the capitalists
who demand interest and the people who
demand money instead Of interest. Great
applause. .-,-,.-,
The gentleman denounced the periodical
attempts made for International confer
ences and international agreements every
time the free coinage of silver is proposed.
Are we to be shackled here by the apathy
OF the governments Of other nationsi Is
our financial system 70 be regulated, not
by our own ideas Of justice and our own
conferences, but by the conyeniences Of