The Red Cloud chief., 1892-04-01
SILVER DEBATE.
Silver Giants Lock Horns In the
House.
Qr. Bland Opens the Discussion In Fs Vol
81 HIS Bill For Free ColnaGe-MessrA
Williams, Harter and Others
Speak In Opposition.

In the national house of representa-
tives on the 22d Mr.. BANDS free coin.
age bill being the special order, Mr..
Bland. chairman of the committee or
coinage, took the floor in favor of the
measure.
This BILL" said Mr.. Bland. in open
ing the discussion, proposes to &c
back q hundred years in the matter OF
coinage. 1t was just a hundred years
ago hat the wise founders of this gov.
eminent adopted what we call the
double standard They provided for
the coinage Of gold and silver without
limit at the minis of the United States;
that silver should be coined the same
as gold and should have the same ad.
vantages and the same recognition.
The silver dollar should consist of
ST. 400 grains of silver. precisely the
dollar of silver that is called for in this
bill. This bill provides that gold and
silver shall be coined at the ratio fixed
by the act of 1887. which was called
the ratio of 16 to L or, more exactly.
it is Is. 9s to l. This bill provides that
gold and silver shall be equal at the
minis [Applausel
SIN order that this equality should
be preserved. it is necessary hat silver
should be put on the same plane. in re-
gard to the issue of certificates of the
mint as gold. To-day the law provides
that gold bullion may be taken to the
mint of the United States and certifi-
Gates issued to the owner. or that he
may be paid for it in money. 1t is not
required for its coinage"
Mr.. Bland said that he had agreed
to. and would propose later, an amend
ment to that portion of the bill pro-
viding that coin notes shall be issued
as rapidly as bullion is deposited He
would move, at the proper time. to
amend by providing that the coin notes
shall be issued as rapidly as the minis
found it practicable to coin the bullion.
In arguing for a greater volume of
money, Mr.. Bland said that he would
admit hat the refined system of credits
which has grown up in the country
does TO a certain extent economic the
use of money. but in the end the day
of paymento of these obligations always
CCflcS diiu VIC UluSb AdSc L1OIcSs III
1851. when we had passed a bill for re-
funding the national debt, the national
banks of the United States sur
rendered SIS, OoO. 600 into the nation
al treasury, for the purpose of
inducing a veto from the president-a
threat which effected its purpose-and
the result of this withdraw val of SIS
COO, 900 from circulation put interest up
New York at the rate of one cent a
day. Notes and bonds are not money
are conveniences- The whole
fight over this issue is between the
capitalists, who demand interest, and
the people, who demand money instead
of interest. [Great applause
The gentleman denounced the peri
odic attempts for international confer
ences and international agreements
every time the free coinage of silver is
proposed. Are we to be shackled here
by the apathy of the governments of
other nations? Is our financial system
to be regulated, not by our OWE ideas
justice and our W conveniences,
but by the conveuieuces of other ma
tions? The moment this great govern
ment declares for the free coinage of
the other commercial nations,
too, will solve that question. Self
interest will COMPEL them to do so.
The restoration of silver means the
restoration of it the world over. Gold
and silver have been the servants of
civilization since civilization began.
They are twin brothers and when you
sever the ligature both are dead. Be-
fore gold can leave this country there
must be some other form OF money
take its place. The moment you
silver, if gold is taken
from circulation prices will go
down in proportion and that
money from abroad to pur-
chase commodities here that go down
because of the contraction of money.
Everything will be cheap. The man
who holds his gold is simply holding it
for silver; for silver will take the
channels of circulation. Gold is a ty-
Gold won't tolerate any compe-
He must dominate or he will
nothing to do with your finances.
silver be coined once and see what
tue TcouiI VII NC thch. lou DTiuS
him to the level of the common people
of this country. [Applause.l To the
level of silver where he ought to be.
You may have to pay a little more if
you have the two metals at par, but
let us remember that as a rule when
is plentiful prices are good.
You may have to pay a little more, |
but labor, after all. is the only money. |
street is to-day ~demonetiz;ng
labor and wheat and cotton This bill
remonetizes them all"
Mr.. Bland then explained the last
of the bill providing that when
ever France opened her minis to free
coinage of silver at a ratio of ISL to 1, |
the United States should adopt that
ratio. he called attention to the fact
that for seventy years France had by
her open minis fixed the price on both
and kept them on an u%nvarying
parity of 15k to l. To allay any ap-
pre- hcnsion that might arise because of
the French ratio being 15k to /, while
ours was 16 to I, it was proposed that
the United States should adopt the
ratio of 15I to l whenever France did
so. Continuing, Mr.. Bland declared
that the action of the government #