The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-03-23


The An,i.Sllvcr Men Show up tho
Fallacy of the Free Silver Idcn..In.
tcrcs,ins Speeches =. Washington
News.
WASHINGTON. D. c., March 22.-Tho
silver debate Of tho fiity.second Con-
cre:s opened in tho house Of repre-
aniatives to-day, and from tho indica-
tions tits 10 be battle OF the giants.
Chairman Bland, Of the committee on
coinage, Weights and measures, opened
the discussion in behalf OF th c tree coln-
.se Williams, OF Massac husctts, an
.ati,ireo coinage Democrat, made tho
tFsning speech in opposition TO the
ill.
The galleries wero crowded when, at
l99:22j, The irco coinage bill was called
rpuuder the resolution OF the commit.
tee oil rules and its reading requested
By Chairman Bland.
Mr.. Tracey, OF New York, at once
raised 4 point OF order against the bill
being considered in tho whole house,
holding that rs the preparation OF coin
in notes by the treasury for tho cx-
change Of bullion involved expenditure
BY the treasury, this bill, like appro-
priaIion bills, should be considered in
tho rotn nmittnn nj thn whnln
The speaker, however, held that as
the bill did not make a specific appro-
priation' it should not be considered in
committee OF the whole, and Mr.. Tracey
acQuicsed in the decision OF the chair.
By unanimous consent, on the request
OF Mr.. Bland, it was agreed that even
ing sessions should be held to-day and
tomorrow, from 1880 to 10:S0, for the
consideration OF the bill. .:=st
BLAND OPENS THE BALL.
This bill, said Mr.. Bland in opening
the discussion, proposes to 60 back
hundred years III the matter OF coinage.
It was just hundred years ago that the,
wise founders OF this government adopt
ed what We call "the double standard"
They provided for the coinage OF gold
AID silver without limit at the mints OF
the United States; that silver should be
coined the same as gold, should have
the advantages and the same recogni-
t!9n. The silver dollars should consist
of31l 4-l6 grains OF silver, precisely tho
dollar oil silver that is called for in this
bill. The bill provides that gold and
silver shall be coined ut the ratio fixed
ythe act OF 1887, which was called "the
ratio OF l6 to J." or moro exactly it is
l5.9S 10 |. This bill provides that gold
and silver shall be equal at the mints.
lApp!ausc
In order that this equality should be
preserved, it is necessary that silver
should be put OH the same plane in re-
gard 10 the issue OF certificates at the
mine as the gold. To-day the law pro-
yldes that gold bullion may bo taken to
the mint OF the United States and GER
tlllcates issued to the owner or that he
may DO paid ior it in money. lie is
not required to wait ior its coinage"
Mr.. Bland hero sent TO the clerks
desk 4 letter from the director OF the
mint dated March Is, 1902, stating that
The cost oi coming silver would be about
cent and hall per dollar and that
49,OO0OOO in round figures could be
coined evcry year.
Continuing, Mr.. Bland stated that
while this bill placed gold and silver on
IN equality in the matter Of the issue of
INC com notes OH their deposit at the
;Nii's, 1t also maintained that equality
by providing that when the coin notes
should be presented for redemption the
government should be free to redeem
mem IN either gold or silver, as it might
ptc!eT. Thus coin notes issued on de-
posi-, Of gold bullion might be redeemed
III s!FeF, or coin notes, issued on dcpos-
u OIL silver, might be redeemed in gold,
JaSl as the treasury might prefer.
MI IN ihe course OF his argument Mr..
bialiI stated that he had acccded 10, and
would propose later on, an amendment
70 mat portion oi tho bill providing
INV com notes shall be issued as rapid
y rs bullion is deposited. lie would
move AZ the proper time to amend bv
E'V''.'Ilis that the coin notes shall be
issued as rapidly as the mints found it
p'aeilcable TO coin the bullion.
"a GREATER VOLUME WANTED.
' In arguing for u greater volume Of
money, Mr.. Bland said he would admit
iInat The refined system OF credits which
,'as grown up in the country does not
70 u certain extent economic tho use
" money, but in the end, the day Of
myMent OF these obligations always
SSEi SSlae and We must have money. In
;s ;;ooi, When We had passed bill for rc.
SNaIihs the national debt, the national
S;s Sa;'Ss rs OF the United States surrendered
rs'TvoCVo into the national treasury as
threat made ior tho purpose OF in.
I,I"s!hs 4 veto from tho President
u,Feat which elected lis PURPOSE and
cue cue result OF this withdrawal of
MNV10;0O IRON circulation nut interest
up IN New York at tho rate OF | cen. a
SIH, Notes and bonds are. not money
T,n.y TItnmey arc convenienccs. iThc whole
Cs,. cS"t over this issue is between ,Le
I,hhptaLlsis who demand interest and
"? "? people who demand money instead