The farmers' union. (Memphis, Mo.) 1891-1895, 1892-03-31
Discussing silver.


the silver question i'll the House. The
galleries were filled and the number of
members on the floor of the House was
unusually large. Mr.. Bland at the out
set told the Farmers Alliance members
that they could not lie treated as a
separate party in sharing the time for
debate because there was no party in
the silver qus sIion. Mr.. Bland was at
his best and he brought out the POINTS
of the silver men with unu ,ual force.
George Fred Williams led the speech
for the opposition inside the Democratic
party. In its economic discussion it
was an able pres cntation of the subject.
Mcssrs. Harter, Rayner, and other
Democratic OPP oncnts Of silver also got
their inning. Col Abner Taylor tRep.),
who is a member of the Coinage COM
mittec, made Il vigorous speech, con-
trasting the way tha rights of tie minor
ity had been ov.Ir.ddcn in the pr, sent
House in the interest of free silver with
the consideration which had been shown
its supp orters in the last Coagre $,
when they were in the min srity, by
Speaker Reed. Col. Taylor said the
measure was the most vicious one ever
presented in the House. II has made
the nomination Of the idol of Democracy
impossible and had forced every
other Democratic candidate asst. ide The
fon,e yet it must be passed to assist
Democratic members in their election to
the next Congress. After this prclim-
! nary scorching. Colonel Taylor entered
upon a searching analysis of the eff, CT
OF free coinage. He yielded a portion
of his time to 4. J. Hopkins OF the Au-
rora district. Mr.. Hopkins male Il con-
else speech showing the weakness of
free coinage and con,iemning the reck
less folly which would jeorardize the
financial in creStS of the country and
de ,.civc the ia -ner and the lahCring man
In order to try Il dangerous experiment.
Mr.. Band sail, in opening the dis
cUSsinn:
1t was just 100 years ago that the found
crs Of this Government adopted what We
call -the double standards This provided
for the coinage of gold and silver without
limit at the mints OF the United ate,:
tina, silver should he coined the same as
gold. should have tie advantages and the
same recugniti. n. The silver dollars should
consist of 81 l-1G0 grains of slrer-pre-
ciseiy the dollar of silver that is cal C for
in this bill. This bill provides that gold
, anc silver shall be coined at the ratio fixed
/ by the act of 1857; that gold and silver
| shall be equal 1T the mints, In ocder that
! this equality should he preserved it is nee
cssary that silver should be put on tie
same plane in regard t, the issue OF certif-
Gates 1T the mint as the gold.
; While this bill places gold and silver on
an equality in the matter of the issue Of
coin notes in tier deposits at the minis. il
also mafnt!i ins that equality by providing
/ that wien the coin notes shall be presented
| for redemption the Government shall be
! free Ia redeem them either in gold ,r silver
! as il may prefer. Thus coin notes issued
on deposit of tcll bullion may be redeem ID
in silver. ccin notes issued on deposit of
; silver may be redeemed in gold, Just rs the
. Treasury may prefer.
| IE arguing for a greater volume of
! money. Mr.. Bland said he would admit
| hat the refined system of credits which
| has grown up in the country does to a
| certain extent cconomiZe the use of
! money, hut in the end the day of pay
III nj Of these obligations always came.
! and tn. II wn must have money. In 1881, 8,
i when We had las ed Il hill for rcft!ndiny
! the national debt. the national banks of
| the United States surrendered SIS,G0o, =
nGo into the National Treasury as a
threat made for the lurpose OF in,lucin.
| a veto from TIL fres!Gent-a t!lr ut
i which effected its pu,posc-and the rc-
suit cf this withdrawal Of SIS,OW, 900
| from circulation put interest up in New
| York at the rate of on. cent a day. Notes
| and b n Is are not n:oney--thcy are con-
| vcniances The whole fight ,vcr this
| issue is he;wc'n Il the capt. lists who de-
mand interest an the peo lc who de-
mnnd money instead of interest.
The gentleman d. nounced the periodic
attempts made for intcrnati, nal confer
cnres and inteI Ina.iona! agreements
every time the free image of silver is
| proposed, and said:
| Are we to he shac.lcd here b, tho apa tn V
! of the governments of otiC- nations: j.
| our financial system 10 Ec regulated. not by
our own ideas tf Justice and cur own ctn-
| ven.cnces. but by the convcnrntcs of other
| na'iCn5? The moment that this great gov
eminent declare, f.r the free coinage of
| silver the other commercial nations. too.
| Will solve that question. Sclf-interrst " i'll
| compel them [, do SO. The restoration of
| silver here means the restoration of it ev-
| cryW herc-tIc world over. he moment
| you restore silver il gold is taken from cir
| rulati IN. prices will go down in prop rticn
| and that ccc>sitates rnon"y from abroad
| 10 purchase commodities here that go down
because Of the contraction Of money. Ev-
| erything y i'll be cheap. The man who holds
his gold is simply holding il for silver. for
| silver Will take The channels Of circulation
Let silver be coined once a3d see what
tho result will he. You may have toply n
| little more if you have the two metals nj
par. lu; let MS remember that as a rule
when money is plentiful price, are gtol.
Labor. after all. is the UrlE money.
Mr.. Bland then explained the las!
sectit II OF ihc bill providing that when
ever France opened its mints to free
coinage of silver q. a ratio of Isl to |
the United States should adopt thai
ratio. He called attention to the fact
that for sew, nty years France had by
its OPP II mints fixed the price of both
metals and kept them on an unvaryin2
parity of ija to /. To a1ay any appre.
hcnsion that might arise be, ause of tn,
French ratio being 15a TO l. while ours
was 16 TO !, it was proposed that ths
United States should adopt the ratio 9
15t to | whenever France did so.
Continuing, NIr. Bland declared tha
the action of the Government of th,
United States on the silver question ha,
been an invitation to Europe to go III or
the gold standard. We began silyer's
demonetization in 1872, and in all cul
efforts to restore silver we had been de
fcatcd by Limitation. When frc, coin
age bill was passed in the House in 1879
by n two-thirds ma ;ority and sent to the
| Senate, the same idea of an internationa
agreement was injected into the ques
ton, and meanwhile we provided for tn;
| purchase Ci from S2,Nun,NHo 10 ii 4,tV',o ,oot
a month. The last Congress passed
an act 10 purchase $4,500,C00 o
silver monthly, and it's friends
proclaimed that it WAS done in the in
terest of silver. He opposed that bill
and said the gentlemen were deceiv.ne
themselves and the country, anI thai
silver couli not be brought to par il
any such manner. The law of 1877:
compelled the coinage AMI use of the
silver dollar. The law of the las t Con.
gress used the bullion as mere dead
capital in the Treasury, which might az
we'll be at the bottom of the Potomac
In conclusion, Mr.. Bland said:
Iappeal to the gentlemen oa this 7ocr tt
lay aside every idea of party e>i,ency
| every idea b.. that which is ri.ht ant
| Just. and to cast their votes arcordin, tt
the dictates of their own conscienccs and
to the plojges they mace to the greater
| productive masses Of the country. II they