The Red Cloud chief., 1892-04-01

ly.1 He opposed that bill and said the
gentlemen were de~ceiving themselves
and the country and that silver could
not be brought to par in any such man
ner.
The law of 1878 compelled the coin
age and use of the silver dollar. The
law of the last congress used the bull
lion for what? As mere dead capital
in the treasury which might as we'll be
at the bottom of the Potomac. Was
the United States to be frightened by
the actions of other nations? because
they were demonetizing silver and go
ing to a gold standard must the United
States follow suit? This silver ques-
ton vas one that would not down be-
cause it was one hat the American
people well understood
At the conclusion Of Mr.. BANDS
speech Mr. Taylor, Of Illinois, Of the
republican side. objected to Mr.. Viii.
liams. the democratic opponent of free
coinage, opening the discussion in OPP
opsition to the bill THE majority Of
the minority of the coinage commit
tee" said he, 'desire me to open the
discussion for the only party that is OPP
posed to this measure.
MR. WILLIAMS OPPOSES THE BILL
In his opening remarks Mr.. Williams
said he trusted that he would be found
to represent not only the minority of
the committee, but the 1.-THE majority
CT the minority of the COMMITTEES" as
we'll.
Continuing, Mr.. Williams said that
members of the house would feel
obliged to vote for free coinage al
though they did not believe in it. be-
cause their constituents have so in
structed them. Considerations which
now weigh with members would not
weigh in local conventions and local
He believed that an ap-
standard is better than q
fluctuating standard, better than a con-
falling standard 1t had been
adjudged that as we had the free COIN
age of silver before 1878 without disas-
trous results, why should disaster now
follow this bill? He desired to remind
the American people that the none
tary conditions of the world have en-
tirely changed since 1878 and those
are now beyond our control.
Gold is the standard of nearly all the
nations Of Europe, and when we de-
for the free coinage of silver.
will gold go? 1t will go to a
premium and a premium upon gold is
discount upon silver. The rest of the
world will fix the depreciation upon
silver according to the markets of the
world and our standard will then be
cents to 81. That means repudia-
ton; it mean the throwing of this
into a dishonest settlement of
every debt contracted upon our present
gold basis Applause. In conclud-
Mr.. Williams presented the substi-
bill of the minority providing for
an international monetary conference.
MR. HARTEE's OPPOSITION.
Representative Harter, of Ohio,
also a democrat, now spoke in opposi-
ton to the bill, and insisted that the
Bland bill instead of increasing the
of money IN circulation would,
its results. actually decrease it The
lay after the president signed a free
coinage bill, instead of having 81, $780,
200, QUO in circulation for the use of the
we will have 5000. 600, for
money will be deprecated to this ex-
.ent. Democrats are opposed TO pro-
yet many of them desired by
his bill to give the silver producer the
benefit of a protective system.
Continuing Mr.. Harter SAID that
1878 we have in eighteen years
SI29, 900. 900 in gold alone, or an
average OF over $40. GOO. 900 per year.
Now, under the Bland bill. this would
and free coinage would drive out
our gold and leave what remained mer-
.handise, as wheat. corn and cotton
Ire. Unlimited coinage of gold and
on the basis of 16 per cent of
to 1 of gold would drive out the
,old because it would undervalue it.
Gold sells in all parts of the world
or o.. Sc times is weight in silver, and
f under free coinage we only give it a
of 16. all human experience
we would have no gold in circu-
alton after the president signed a free
md unlimited coinage bill. This bin
; called a free coinage bill. 1t is not
'uch in any proper whatever,
it is, pure and simple, a bill to COM
bel the people of the United States to
the entire product of a most pros !
,erous and flourishing interest, small
n the mum Der of its members but
rich in dollars and cents, at a
,rice which gives them on the cost of
(if stated in the language !
# ordinary protection) 4 protective
ariff or bounty of owe 143 per cent
Not content with this enormous bur- !
len which the bill places on the over !
900. 900 of our people in no way in
crested rs of silver mines, it
opposes to make us the virtual pur-
.hasers of all the silver produced in
he world and at Sic per ounce, while !
much of it costs not over 81 cents per
and a great deal of it after de-
the profits On the lead prod
tets, not over 5 to 90 cents an ounce
81 submit that an equally mad propo-
ition never secured the assent of any
legislative body in the world and if it
,asses this house, now that its provis-
ons are laid bare. it will be a record
which will come back to plague and
bona ;tS IN hers down fO the hOur