The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1892-01-30
THE LAST DITCH.

ooudtOI <AlullCh . "AS
appeared in the TRIBUNE's dispatches
Wednesday morning, providing for an
international bi-metallic conference, is
simply the last ditch" wherein the gold
bugs and weak-kneed silver men in the
senate may make a stand against the free
coinage silver bill which the democratic
house will surely pass. The experience
of the past evidences that international
silver conferences are international hum-
bugs, a fact of which the very
eminent gentlemen in the United States
senate who favor Aldrich's resolution
are cognizant. They are also aware Of
the fact that AZ long as congress fails to
enact a free coinage law just SO long
will England and Germany refuse to
enter into any agreement looking to the
full remonetization of the white metal.
Those nations are perfectly satisfied
with the present condition of silver.
The five leading banks of Europe, in.
GLIDING the Bank of England, hold a
little over S592,OOO,OOO in gold and a
tritie under S@i2O,OOO,OOO in silver. Their
gold commands a premium and their sill
yer, coined at the ratio of 1914 and 151a
to l, possesses a coin value exceeding the
coin value of our own. The purchasing
power OF gold being enhanced by its
scarcity is the favorite metal of the plu-
tocracy, and until compelled to receive
silver as a royal metal the money power
of Europe will never listen to any propo-
sition looking to it's more extended use
by giving 1t equal mintage rights with
gold. Hence Senator Aldrlch's resolu-
ton will be barren of results unless it be
backed by a free coinage law.
The enactment of such a law by this
congress would force gold standard En-
gland and Germany to listen to PROPOSE
tons for an international bi-metallic
agreement. They must have silver for
their foreign trade and to keep up their
supply of subsidiary coins. This coun-
try produces about s7O.OOO,OOO of the
$100,OOO,000 of the worlds annual silver
output. With a free coinage law the
States would be master of the
situation. This is the more clear
ly shown when it is understood that of
tho S~420,O00,0OO of silver held by the five
leading banks of Europe the bank of
bi-mctallic country-holds
s240,O0O,OO0. AS that silver coined al
the ratio of l515 to / is worth 3 per cent
more than our own it stands to reason
the gold standard countries of Europe
must look to this country for its supply
of silver. II we had a free coinage law
they would have to pay our own price
it. That would bring them to terms
and force them to lend a favorable ear
a proposition for an international sill
yer conference.
But silver has its enemies within us
well as without to fight. The continued
demonstration OF silver is a continued
source of profit to Wall street specula-
in the metal. Silver was quoted the
other day at 1924. That is the price our
miners get for their product, less
transportation and insurance charges.
At the same date the government bought
million ounces of the 4.50O.OO0
ounces which it is compelled to purchase
monthly. for which it paid 9S.4. That is
the spectators receive for their
profit of about 100000. 1t
pays to be "A gold bug when such large
are monthly received upon in
vestment.
The closest estimates by the United
mint place the gold circulation of
the country at s%G50,OOO.OOO. Mighty
little Of this money is held by the labor
ing classes. 1t is held by the wealthy.
These men want no silver-po CHEAP
money. Free coinage would place their
boarded gold upon a parity with silver .
1r silver upon a parity with their gold
c%hcapening it by weakening its
purchasing power. They object to this,
and We find them with the foreign and
other home directors behind the Aldrich
resolution determined to make a stub
born resistance against free coinage
The resolution is the gold bugs last
Itch. The free coinage men in congress
not be deceived by it. 1t is a
ielusiOn and a snare. and should not
stand IN the way Of the passage of a
rec coinage measure by this congress.
The Power-Fields matter seems to
laye resolved itself into a uuestion of