Los Angeles herald., 1892-03-23
Bland Leads the Assault on the
Gold Bugs.
williams of Massachusetts Fires the
First Gun in Defense.
Hnrter Of Ohio, Tracey of New York and
Many Others, Including Our Own
Bowers, Take Part In
the Fray.
Associated Press Dispatches.

mittee on coinage. weights and meas
ures, the author OF the bill, opened the
discussion in behalf of the free coinage
men. Williams of Massachusetts re-
spunded in behalf of the anti-free coinage
side. The air is full of rumors of fill
clustering designs on the part of the
anti-free coinage people to postpone the
vote. If such designs exist, however,
they are evidently not to be carried into
execution until after three days Debate.
The galleries were crowded when at
1890 the Bland bill was called up under
resolution of the committee on rules.
Tracey, of New York, raised point of
order against the bill being considered
in the house, holding that as the prepara-
tion of coin notes by the treasury for ex-
change of bullion, involved expenditure
by the treasury, the bill should be con-
eidered in committee OF the whole.
The speaker held that as the bill did
not make such an appropriation. it
could not be considered in the commit
tee of the whole.
1t was agreed that an evening sessi on
should be held today aud tomorrow.
"This bill," said Bland, in opening
the discussion, sis proposed to 60 back
one hundred years in the matter OF coin
age. 1t is just one hundred years ago
that the wise founders of this govern
ment adopted double standard.
They provided for the coinage of
gold and silver without limit at
the fnints of the United States that
silver should be coined the same as
gold, should have the same advantages
and recognition likewise; that the dol
lar should consist of 412.04 grains, pre-
cisely the dollar of silver called for in
this bill. This bill provides that gold
and silver should be coined in proper
tion of 16 to l, or more exactly, 1898 to
i. The bill provides that gold and
silver shall be equal. Applause. In
order that this equality should be pre-
served it is necessary that silver should
be put on the same plane in regard to
the issue of certificates at the mint as
gold"
Bland here sent to the clerks desk
letters from the director OF the mint,
stating that the cost of coming silver
WOnld be about q cent and half per
dollar, and that $45, 100000 could be
coined every year.
Continuing, Bland stated that while
the bill placed gold and silver on an
equality in the matter of the issue of
coin notes on their deposit at the mints,
it also maintained their equality by
providing that when coin notes should
be presented for redemption, the gov
ernment should be free to redeem them
an either gold or silver, as il might pre-
Ter. United States coin notes issued on
deposit of gold bullion might be re-
deemed in silver coin, or notes issued
on deposit OF silver might be redeemed
in gold, as the treasury might prefer.
In the course of his argument Bland
stated that he would propose later an
amendment to that portion of the bill
providing that coin notes shall be issued
as early as the bullion is deposited. He
would move at the proper time to amend
by providing that coin notes shall be
issued as rapidly as the mints found it
practicable to coin the bullion.
In argning for greater volume of
money, Baud said he would admit that
the refined system OF credits, which has
grown up in the country. does to a cer-
tain extent economize the use of money,
but in the end, the day of payment OF
these obligations always came; then we
must have money.
I'm 1881, when we passed bill for re-
funding the national debt" said he,
tine national banks of the United
States surrendered $l8,000,O0G into the
national treasury as threat made for
the purpose of inducing veto from the
presldent-a threat which effected it's
purpose, and the result of this with
.drawal of $4,000, 900 from circulation.
put interest up in New York at the rate
of cent a day. Notes and bonds are
not money they are cohvenienees. The
whole fight over this issue is between
the capitalists, who demand interest,
and the people who demand money in
stead OF interest" Great applause
Rland denounced the attempts made
Tor international conferences. He said
An international agreement is pro-
posed every time the free coinage OF
<ilver is proposed. Are we to be shackled
mere Dy the apathy OF the governments
ct other nations? Is our financial sys-
tenn to be regulated, not by our own
aaeas of justice and our own convent
Ences, but by the conveniences of other |
nations? Applause. The moment this |
great government DEGREES free coinage OF |
SILVER, other commercial nations, too. |
wlH solve that question. Self-inter- |
est will compel them to do go. The
restoration of silver here means its
restoration everywhere in the world.
[ Applause Gold and silver have been
the servants of civilization since civiliza-
tlon began. They are twin brothers.
When you sever the ligature they are
both dead. Before gold can leave this
country there must be some other form
to take its p ace. The moment silver is
admitted to equal circulation prices will
20 up. Let silver be coined once. and
see what the result will be. You bring
t to the level OF the common people OF
his country. Applause Let US re-
member the rule that when money is
plentiful prices are good. You NAV have
% pay little more, but labor, after all.
3 only money. Wall street today IS de-
labor, wheat and cotton.
The bill remonetizes them all" ZAP
,lause.]
Bland declared that the action oil the
government of the United States on the
liver question had been an invitation
Q Europe to go upon the gold standard.
We began silver decentralization il
S79," said he, "and in all our efforts to ,
estore silver we have been defeated by
limitations. When a coinage bill was {
assed in the house in 1873, by a two
birds majority, and went to the senate,
he same idea of an international agree. ,
aent was injected into the question,
nd meanwhile We prOvided for tho nm r. | =