The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1892-02-23
FOR FREE COINAGE.
THE SILVER BILL TO BE REPORTED
FATORABLT 70 THE HOUSE.
A Few Of the RcIuirements-An Argument
Showing That it Would Not Pay for Other
Countries to Dump Silver at Cur hints


sage of the Bland free coinage bill will be pre-
serted to tho house tomorrow by Mr.. Bland,
md by the consent of the minority OF the COM
mittee it has boon made public tonight Inc
report is % long and carefully prepared docu-
mcnt, which discusses the various oDJecilohS
made against free coinage, showing where' III
the opinion of the ajoriiy, those obJections
are iii founded, and how the free coinage OF
silver would greatly benefit this country ana
especially producers
EXPLANATION of Its Provisions
The report begins with an eXp'aa&ton Oh
the provisions of the bill reported. Free com
aee of silver is provided for and it is required
tbat it be OF a standard iincness to meet the
COS, of alloy used. the alloy being all the OK
pcnse now eNacted OF deposilors OF gold. Coin
notes may ne issued on gold or silver deposited
If demanded instead of waiting for coin.
Tic committee raised The maximum denom-
irafions of these notes from $500 to 81 600, so.
as t. accom- odate dealings in large tranSac-
tions and bank exchanges. These notes arc
mado legal tender, redecn,abe on demand.
The bill provides for the conversion Of all
our gold and silver notes into com notes, re-
deelr3lle III coin. thus dong away entirely
with all LEGAL distinctions. 1t is believed this
will greatly tend to promote equality III all re-
snec:s. Ihera will no longer he iSsGod gold
note or silver rotcs, bat b!moiailtC notes,
payable in either coin at the pleasure OF the
government -
The report under tho head "The Dump of
Silver" proceeds 20 the discussion OF the cry
that the free coinage of silver wcuid mako the
United States tie dUmping ground tor the Sill
yer Of the weird.
No Bangor from Abroad.
The report says:
Tie familiar warning that free coinage would
cause s!.!.old OF silver fro:a other countries to
I2 Eror"!lt tare and dumped At oar ihlntS III OK
ChaI..e ios gold is still urged. How can TINS
Ire iiisr the hlil " proposed law? ship'oad Of
silver broU. to Dlir minis 10y i foreigner Womb
be coined into standard dollars these do las
retur. t. Liza, inc IL could not 20 to oar treas
ury and demand gold ior them, ncr could he com,
dollar for silver dollar. If an American citizen
gave lin c,!d dollar for silver dollar shat IS a
voluntary trade tiat no ilY oi.lit !" h-teIiGie
with. SB x. d foreigner lake coia notes Tor ms
luio,l i!.steat! q coin. the same thing happens.
lie take lis coin note - the treasury and DC
mand rctcu!I ton, but the note is retecnian!c i'll
coin. and tic secretary of The treasury oor!d land
him bac;. coin strnc> from his sipoad oil bullion
Would Discover Lis EsiuiS:er.
The f i4uer tt1!i wou!d ascertain that he had
COMMITTED tie thunder 81 bringing silver
to on fIa a Gar " oss han il was t at Sos
and that he loses this $ Genus and tie cost Of
trans; ort-!!on besides. Wet, then, will he dc
with i5 money; lie must either invest il i'll
property II, - 20 home with IL lie ccdd not
buy gold With t Of gold exchange mn S E";d
AMI silver were at per In tins ct5e there eoUld
he 10 reason tur pr .9fr.n metal 10 }le other.
If gold went to premium he w"nid have ." l'ay
the premium lis exchange, thus entaiIinG on
him an additional loss in his enterprise Of
fen,iins u 5ig,oads Of .,I silver mt If he
nl roS's rd,.erf( ami bnsinas e!fgirses,
il will stimuli 10 industries, awaken enter
rrises @ni give Us a isa.t-y b5ihts: ana sound
Curren,Y. What could b" desired? Every
shiploatI of silver brought here ami invested IN
productive wealth would have & fwofod effect.
Would i;ri.g Prosperity.
Ii would lr.nr uneX lmpled pro -parity to this
country. The ,.cXt efecr Would lie l.;,iios il the
old weird. Business there would be paralyzod for
ta s S,r;iy here AID sta5i"n in the
Old centuries would force shlPloais 0 tier people
to come to THIS country i'll search OF their lost
The nations OF the old world arc aware of this.
They know the ADVANTAGE the free coinage Of
silver woGld guarantee 20 Us, hence their Uniform
predictions that Calamity woaid ne me result, IN,
Stead OF prospect Y. They are not IL the habit OF
giving u trustworthy advice us TO tie course we
SHOULD pursue III This matter.
The report then quotes from the report Of
MIR. Wimdon1, then secretary Of ,he treasury
for lie year 1885, in which the secretary TOOK
the position that no danger need be appre
hended of food Of European silver.
,;Ie Conspiracy si.inst Silver.
Tie truth IS the majority report then con-
tinucs, that the conspiracy formed IN the old
world, planned and so successfully carried
thrCuLi there and here, aimed 70 Con.inc the
debt paying mediums Of nations concerned TO 4
single nlcta-,coid. Fer this purpose the par Of
centuries was broken gold was decread rapidly to
rise IL values. this .Gdlng 50 per cent to
the value of credits, elricilin4 creditors, public
and private, at TIE expense q debtors and tax
ami products OF Tabor as compared ~ hotes, bonds
and mortgages 1hc wor'ia ''iree coinage Of sill
this conspiracy and beIc.ic!lres. They know that
when this gr1ls GOV rninent thus throws it,
wei .t on the silver haiaHee, thc word NIi again
he restored iuil faith and confidence in the
fu: safely a. >I!;"T a. the money Of he world
The o" ia; WI. ri'ifn, ;l.4 I've ta.''s ei tied
together. y taa strong it-4jHre ~ iogiy-iour
st:tas :!.l Ave ttl. .oriel, with population Of
65,0Jo0J0 and an area OF 10000 square miles.
r;esar again t;e Disturbed.
q I.,anip q +a-t ~ ! lin
power in the world can never again he disturbed;
the con piracy wIid io Xpo scd ana defeated. 1t
L. this pass OF tie Issue they fear tho swapping
of r!.i:t!3:A7 II dollars of silver and dollars of
gold. it j. HE rc5 nrat;on II The binetillic par
IL i ;ie skeleton o. defeated fraud and avarjce
thai IUlk III the ciGsct OF the god palace that
otlcd urr; 20 meet in battle on Tbs free coin
II IS ai.uo, FIRST that all orr gold viii % g q
premium and 80 bearded IL tine next breath it
j. said ti.4t IL. silver miner VIII be enriched by
coinIng. hi hHiii"n worth - cents INTO dollar
worth hundred c, ms, not stopping to think that
Til, cr; Uti .tc az less Ii" free coinage OF sill
ycr Isit2 L - pr &il4 I" II WING case there
could c i.r.. liHn Oh GOLD, and 40 boarding for
s.Ich T,..5r:i- TIE next slogan is that billions Of
siiy-r c'lus - otler countries world immediately
Gc hrou lit Il ~ t. eNrhanso for o,ir gold, thus
without s.ouinE 10 reii,cs ti.at today We have
oi.iv $3.50 500 oi god in the federal treasury
and even tAi- .luot by any proposed free coin
aye Law. lie drawn out in payment for silver do
lars OF coia nos
tnJi.'~ Single Standard.
The report tton takes uP The question Of the
relation O! tie silver question to IL liza for de
purpose Of showing that even decentralization
operates IS a bonus Oh Indian exports TO our
disadvantage. 1t says:
Tie fact tlat nearly tlIu Whole OF cur experts Of
agriculture - 10 European cold >in" countries.
to he sold III coH edition there with countries
single silver basis, is melted ~ economic writers
Of this country and OF the Old world to show the
disadvantage OF the American farmer such
competition 1t Is claimed, and the history of
prices ahu VS. that rs silver falls IS compared to
gold, III about the same ratio the prices q!
farm products fall TO say that silver is low
tant;mo'iItt to saying that tic price
of cotton. wheat and other farm
exports depressed Tie reason is plain.
Count?i, having silver standard avoid, as far
possible, lquidating foreign debts lit money,
for the reason that silver is as oinparGd with
gold, depreciated TO settle foreign balances,
therefore, III silver entails loss of the difference
in exchange between the value OF silver COM
pared 81 gold, the difference Icing the divergence
between the commercial value and coinage value
of silver. Hence the silver standard country,
India, instead of sending her money, silver, to
pay foreign balances, sends wheat and cotton and
other exports, which in her currency have not lost
their value At home or abroad
Works a Bonus.
This system works rs an indirect bonds upon all
such exports from silver standard countries Not
so with the American farmer. Here silver is
coined only on gold account. We are thus tied to
the single gold STANDARD. Consequently, when