The sun., 1892-02-16
FREE COINAGE OF SILVER.
THE MINORITY REPORT A9AIHsr THE
PASSAGE OF TIE BLAND BlLL


saeh . Law wos,A Result n . Partial
Repudiasios, ana Would Bring Disaster
70 the nusinsss Hnterests or the Country.
WARRINGTON. Feb 15.-The report Of the mi
nority members Of the Committee on Coinage.
Weights and Measures against the passage OF
| the Bland Free Coinage bill is signed By
Messrs. Tracey Of New York. Taylor Of Illinois.
Stone OF Pennsylvsnia Williams Of Masss-
| chusetts. and johnson Of North Dakota The
minority review the silver question. protest
vigorously against the Bland bill. and recon-
mend the massage Of q measure authorizing
tho President to invite an internal monetary
conference.
The report says that the FIRST eight lines Of
the Bland bill develop its true purpose. They
provide for two different dollars and oom-
pulsion upon the citizen to receive either In
payment OF debts due him.
1T does not require any knowledge OF none
tary or financial views" the report says. ITO
demonstrate that the compulsion Of the legal
tender power must force upon the creditor o
cheaper and debased dollar. Few debtors Will
pay 100 cents to discharge their obligations
when 10 cents will suffice In law.
This bill converts all existing Government
paper into paper which may be paid In silver.
and leaves no paper which must be paid In
gold. It 10 evidently intended to clear away
all obstructions In the form OF pledges to pay
gold. and. without distinct declaration Of re-
pudiation. to provide an easy track on which
We may descend to the silver monometallic
standard. Because IL 10 not acceptable
money this bill oompsls the Government to
buy silver as bullion. and pay for II nearly so
per cent more than its present market value
with y coin note which will be redeemsble In
gold 50 long as We maintain both metals In
circulation mt the fixed ratio"
The minority discusses the condition OF all
II e.n Sa no SsuSt as
SspPeelsted dollar = upon i tSs Country and
great Of an eyowed depreciation by our Coy
eminent OF tho value OF its own promises. We
eS or eorrp s' SpeSu 81
she ssSs ss
TS. SwhSh
does not elss ap IS eeuts at our Soiass as! nor
,a,s yis,lsa anything to fire or water-ths dollar of
ct tho very, moment the Treasu ury Of the United
States shall refuse to pay gold coin upon de-
single customer Of Tbs % World Tor silver eHe at that hat
sns Esaqssd submit thu.
posed n this 6iil Is tbe prompt saspsnsien Of
OF the cheaper monetary
a single silver dollar standard under the Bland
bill is an immediate and permanent elevation
o S 81 laso s
and gold. This price. 1t Is said. is $l.2oA per
The minority argues that the Bland bill will
bring silver from foreign countries. The
United States. 1t says. Is the only source OF
sSSep sSse s%e svsts aS sS R 5ss
unstable silver; The free coinage problem is
not. therefore. the minority holds, one that con-
or the annual product Of the mines. but it in
wolves PrSSSaos aet9n ct by every nation p Con
such exchange"
Silver coming from abroad would. it is held.
What sod vo our
ment then meet the silver bullion, Of France.
gold at the ratio Of sixteen to one3 Even ii the
Ew ne1s the aa Of the
any Secretary G Who shonia t1s e9eseise sSs
which France alone might demand. would be-
tive which our Government would have would
es.aors ss h sns s1Rsfy ssa sSS 'Sf Viii H s
adoption OF the silver standard is complete
ard we s stsnd s;m upon the monetary plano Of ln-
After arguing that Legislation has failed to
raise the price OF silver; the minority COM
ment on the effect Of silver standard as fol-
THE adoption Of single. standard. then.
mercy q f ths market ar ats and d OLE ne
cations now outstanding. incurred upon the
sGa would be PsyHSSs In
TRas to dsupsci lei ate our ~ standard % ot pSyments al
OiRhOn0st and fraudulent,
1.-THE second Sa Of the bin rsp0stsa
ins s''s 0fsn silver none
this H csuntry IT. % whoh must Involve ades degree oi
repudiation OF existing obligations. there can
and fraudulent. and from such a moral stand
ard there 3 is n3 appeal save to the moral sense
AS to tho effect Of the bill. the minority says
value Of savings banks securities. which It is
our, Industrious citizens Of their hard-earned
sayings. ,.,,d,., =, A., ,.u
enjoying the proceeds Of trust funds; vii! Dy SO
the standard OF the country. The revenues OF
tho Governpent will be depreciated in like
th!rass u s ths AMOUNT i now ;i3 hTsa by isx:
The eject OF this reputation upon future
attemp pts to borrow money will be disastrous
which accord with the risk. and Reputation
will raise the rates OF interest and a fuctuat-
ing standard OF value will burden the borrower
honest standard of payment"
The minority makes strong plea for an in
ternational monetary conference as the only
means Of settling the question fairly. and con-
ciudes with an argument In substance that
the b ia unwarrantablet 70 risk and is with
out advantage to the country.
Appended to the report is Q bill authorizing
tho President to invite an International mone-
tary conference.