The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-03-23
THE SILVER ISSUE
Bland Opens the Debate for
Free Coinage.
WILLIAMS, OF MASS, OPPOSES 1T
Harter Speaks Against it-Dire Results Pre-
d!cted-Mills' Election as Senator Hailed
by the Anti Silver Men.

uIcallonS IL Will be battle of giants,
Chairman Bland, of the committee on coin
age, weights and measures, in favor of the
Dill, opened the discussion on behalf of free
coinage. Williams, of Massachusetts, anti
Tree coinage Democrat, made the opening
speech in opposition. The air has been full
OF rumors of fllibustering designs on the
part OF the anti-free coinage people to OPP
pose vote, but if such designs exist they
evidently are not to be carried into execu-
ton until after three days debate. The
galleries were crowded when at 1920 the
Dill was called UP under the resolution of
the committee on rules. Tracey, of New
ork, raised the point of order against the
Dill being considered in the House, holding
as the preparation Of coin notes by the treas
ury for an exchange of bullion involved an
expenditure by the treasury, the bill should
be considered in committee of the whole.
The speaker held as tie bill did not make
specific appropriation it should not be
considered in committee of the whole. 1t
was agreed evening sessions be held to-day
and tomorrow.
This BILL" said Bland, IN opening the
discussion, proposes to go back hundred
years in the matter of coinage. 1t is just q
hundred years ago that the wise founders
OF this government adopted double stand
ard. They provided for the coinage OF
gold and silver without limit at the mints of
the United States; that silver should be
coined the same as gold; should have
TIE SAME ADVANTAGE
and the same recognition; that the silver
dollars should consist of ST. 4-1OO
grains of silver precisely the dollar
cd ~ L;
This bill provides gold and silver,
snail be coined at the ratio fixed by the act
OF 1887, called the ratio of 16 to l, or mora
exactly 1t Is 1898 TO ]. This bill provides
that gold and silver shall be equal at the
mint. Applause. In order that this
equality should be preserved it is neces-
sary silver should be put on the same
plane IN regard to the issue of certificates
at the minis as gold"
Bland here sent to the clerks desk a let
ter from the directors of the mint stating
that the cost of coming silver would be
ABOUT cent and half per dollar, that
SO, GOO, 600 could be coined every year.
Continuing, Bland stated while the bill
placed gold and silver on an equality in the
matter of the issue of coin notes on their
deposit at the minis, it also maintained the
equality by providing when coin notes
should be presented for redemption the
government should be free to redeem them
IN either gold or silver as it might prefer.
Ihus coin notes, issued on deposit of gold
bullion, might be redeemed in silver or
coin notes issued on deposit OF silver might
De redeemed IN gold, as the treasury might
prefer.
In the course of his argument Bland said
ne would propose late amendment 10 that
portion OF the bill providing coin notes
shall be issued as rapidly as the bullion
was purchased. He would move at the
proper time TO amend by providing coin
notes shall be issued as rapidly as the mints
found 1t practicable to coin bullion. In ar
guing for greater volume of meney,
Bland said he would admit
TIE REFINED SYSTEM OF CREDITS
which had grown up in the country
does, to certain extent, econo-
mlze the use OF money, but in the end the
day OF payment of these obligations always
comes. Then we must have money. In
1881, when we passed the bill for refund
Ing the nation debt, the national banks of
the United States surrendered SIS 5000, 900
into the national treasury, as the threat
was made Tor the purpose of inducing a
veto from the President, threat which
erected It's purpose, and the result of this
withdrawal of $4,000, 600 from circulation
put interest up in New York at the rate of
l cent day. Notes and bonds are not
money; they are conveniences. The whole
night over the issue is between capitalists.
who demand interest, and the people, who
demand money instead of interest. rGreat
applause.
Bland declared the action of the govern
ment of the United States on the silver
question had been in Difference to Eurore
TO go upon the gold standard. We began
sllver's characterization in 1853, and In all
our EFFORTS TO restore silver we have been
DEFEATED BY LIMITATIONS.
When free coinage bill passed in the
House in 1878 by a two thirds majority and
went TO the Senate, the same idea of an in
ternatlonal agreement was injected into the
question, and meanwhile we provided for
the purchase of from two to four millions a
month. The last Congress passed an act to
purchase four and half million ounces of
silver monthly, and its friends proclaimed
1t was done in the interest of silver. In
the mi crest of silver he opposed that bill
He said the gentlemen were deceivinp
themselves and the country, and silver
could not be brought to a par in
any such manner. The law of 1878 corn
PEELED the coinage and use of the silver
dollar. The law of the last Congress used
bullion for what? AS mere dead capital in
the treasury, which might al well be at the
bottom of the Potomac. Was the limited
other nations? Because they were de-
monetizing silver and going to the gold
standard must the United States follow
suit! This silver question would not down
because it was one
THE AMERICAN ProPLE WELL, uNDERsTooD
In conclusion, Bland said: ~ appeal 70
gentlemen on the floor to lay aside every
idea Of party exigency; every idea but that
which is right and just and to cast their
votes according to the dictates of their
consciences and the pledge they made to
the great productive masses of this
country. If they do, the bill is safe; the
cause is Won" Appause.
The gentleman denounced the periodic
attempts made for an international confer
ence or International agreement eyerv
time the free coinage of silver was pro-
posed. "Are we to be shackled here by the
apathy of the governments of other ma
tions! Is our financial system to be regu-
lated not by our own ideas of justice and
conveniences, but by the conveniences of
other nations? Applause. The moment
this great government declares for the
free coinage of silver, other comm ercal
nations, too, will solve that question: self
interest will compel them to do so. The
restoration OF silver here means its restor-
alton everywhere theBworld over. IAN
plause. Gold and silver have been the
servants of civilization since civilization
began;
THEY ARE TWIN BROTHERS.
When you sever the ligature both are dead.
Before gold can leave this country there
must be some other form of money
to take its place. The moment you restore
silver if gold is taken from circulation
prices will go down in proportion and that
necessitates money from abroad to purchase
commodities here that 20 down because of q
concentration Of money Let silver be
coined once and see what the result will be
L.