The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-03-23

frightened by the action OF other nations
Because they were demonetizing silver an
going to the gold standard mnst the unitel
States follow suit? This silver question
would not down, because it was one tn
American people we'll understood. In con
~clusion, Bland snid: II appeal to the gen
tlemen on the floor to lay inside every ide'
of party exigency, every idea but tina
votes according to the dictates of their con
sciences and tie pledges they have made l,
the great productive masses of this coantry
If they do. the bill ia safe. the cause il
won." EApplausel.
At the conclusion of Hands speech
Taylor (lll.l republican, claimed the right
to open debate in opposition, AZ represent
ing the only party opposed to free coinage
Wiiliams, however, was accorded that priv
ilege by the speaker. because lie had pre-
scented the views OF the minority. II an
acting" said Williams. "in behalf of .
cause, which, as far as l know. knows ut
party, because it is q mere matter of pat
riotism on both sides.o tArpiause.l Con
%tinuing, Williams said that many members
of tho house would feel obliged to vote TO,
free coinage, although they did not believe
in it, because their constituents had 40 in
ing standard better than a fuctuating stan
falling standard. 1t has been
adiudged that as we had
FREQ coinage OF silver before 1873 without
disastrous result, why should disaster now
follow this bill? He desired to remind the
American people that the monetary oondi-
tions of The world had entirely changed
since 1873, and those conditions ale 10Y
beyond our control. Gold is tho stand
ard of nearly all nations of Europe, and
when We declare for the free coinage of
silver where wilsour gold go? 1t will 20 to
a premium, and q premium upon gold Is a
Siuecppt mon silynr- This rASt inf fhH
world will Tx depreciation pom silver as
cordiug to the markets of the world, and
our standard will then be seventy cents to
one dollar. That means repuuiation; it
means throwing this country into a dishon-
est settlement of every debt contracted
In concluding, Williams presented the
substitute bill Of the minority. providing
for an international monetary conference.
Representative Harter [Ohio), also a
democrat, spoke in opposition to the bill.
He insisted that the Bland bill, instead Of
increasing the volume of money in circula-
ton, would, in its results, actually decrease
it. through depreciation.
Continuing, Harter said: "Sinos 1873 we
have minted SIS. 10000 in gold, or an
average Of over $40, 900, 900 ner year. Under
the Bland bill this woNld cease, and free
coinage would drive ont our gold and leave
what remained merchandise, as wheat,
corn and cotton are. TIE unlimited coin
age Of gold and silver on a ratio of sixteen
to one would arrive out gold because it
would underyalue it. Gold sells IN all
parts of the world for 22.sG times its
weight III silver, and if, under free coinage,
we only give it a value of sixteen. all human
gold in circulation. This bill is not free
coinage, it is pure and ,simole a
bill to compel the people Of the
United States to buy the entire
product of a most prosperous and flourish
ing interest, small in the number of its
members. but very rich in dollars, at Il
price which gives them the cost of produc-
ton by a protective tariff, or Il bounty of
over l43 per cent. Not content with this
enormous burden which the bill places on
the over g.. 1000. 900 psoqle in no way inter
ested as owners Of silver mines. 1t lB pro
posed to make us virtual purchasers of all
the silver produced in the world at 1919 cents
per ounce, while much of it costs not over
81 cents per ounce, and q great deal of it,
after deducting profits on lead products,
not over five to twenty cents an ounce.
II submit that an equally mad PROPOSE
ton never secured the consent of any legis-
lative body in the world, and if-it passes
this house, now that its provisions a:e laid
bare, it will be a record which will come
back to plague and shame its member
down to the hour they go into their collins.
But for this discussion we would be getting
fromEurope $15, 1000, 900 OF. 500, 900. 900 of gold
a month. Instead of this, alarmed and ex-
cited, Europe is sending back our stocks
and securities by the ream. Her pur-
chases of the past quarter of q century are
coming back by every steamer, and in
stead Of gold reaching our shores, it pouts
cut and away through every channel. Con
tlnue this wild craze for free silver und
fair crops in Europe next year will bank
rupt the United States. Let us counse
and compel wise and prudent action now,
and those who come after us will praise our
wisdom and bless our memories"
Raynor (Md.), also q democrat, said the
mine owners who are given 100000 a
year more profit than are o being made
could we'll afford to inundate congress with
whole libraries of literature and EN- ploy
hosts of lobbyists to advance and promote
their scheme. When the mints were opened
and seventy cents could he coined into d
government dollar, would people get any of
it? No. Every dollar of profit would go
deep down into the pockets of Nevada and
Colorado millionaires. Tracy IN. W at
this point announced the election of Roger
Q. Mills as United States senator from
Iexas. The antl-fres coinage men were
particularly enthusiastic in applauding, as
they regard Mills opposes to the Bland bill.
Abner Taylor (1ll.) then took the floor
and offered an amendment that all pen
sions be paid in gold. Speaking of the bill,
he said he represented the only party op-
posed to tbs measure-the republican
party. He ADMIRED the democratic party
for the facility with which it got on both
sides of the question. When the bill
reached the senate and WAS up for vote the
gentleman who would probably be nomi-
mated in Chicago (Hiil) would conyen-
iently be in a cloak room or out on an ex-
cursion. daughter. Then the demo-
cratic party would stradale the question.
The gentleman from Missouri would tell
his people he was for free coinage and his
mugwump friend from Massachusetts
(Williams) would tell his people he was
against it. Such was the facility Will,
which the democratic party got on both
sides of a question. This would enable tho
wealthy class to pay laborers seventy cents
worth OF silver for Il dollars wogth Of toll.
Tho majority report showed couclusiyely
that the purpose Of the trainers Of the bill
was to place this country on a silver basis
and let 1T stand side by side with India,
Mexico anu China.
silver would benefi only two classes,-the
rich silver mine owners and bullion holders
Hna spectators. During the last congress
1T was demonstrated that (; syndicate OF
these mine owners established q literary
bureau III Washington and sought to create
Il sentiment IN favor of silver, One of
their stock arguments Wns that more money
was needed for business, and, owing to
poor crops, this argument found read at
tentlon IN the west. He had taken raina
TO analyZa 1t. In 1860 We had SIS per capitu
OF money, and every one would admit that
there was prosperous business. Then there
hab Deen a great Increase Ill the circulating
medium until we have more money uer
CIrlfn tHID IN c)ty rixi -, "a