The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-30
Memorial to Congress from Den
ver's Board of Trade.
ORGANIZING THE HOUSE
There viii Be Many Changes in the
Committees.
Speaker Crisp viii See That It Is in Har
Inony with the Administration : The
Coinage Committee VIII Favor Re-
peal of the sherman Law.

DENVER, July o. - The committees
from the chamber Of commerce and board
OF trade, appointed to prepare memorial
TO Congress, in favor of an Increase OF the
circulating medium by the free coinage of
silver produced from the mines of the
United States, and demand the paying
amt of money boarded in the vaults of the
treasury, through its chairman, Ex-Gov-
ernor John Evans, has made report.
It calls attention to the fact that the
amount of legal tender currency in the
country is altogether inadequate for the
transaction OF It's business; that owing to
this great injustice it relatively din1in-
ishes the value of property, wheat, cot
ton and silver; that this condition of the
currency has deprecated values,
and finally destroyed confidence.
brought ruin on the length and
breadth of tho country, closing
business generally, mines, banks, and
manufactures from the Atlantic to the
Pacific, and from the lakes to the gull;
that a repeal of the Sherman silver law
would further contract the currency and
should therefore not be done without pro-
yiding an adequate So Institute.
That such condition can only be rene
died by the government re toring the
amount OF legal tender circulating me-
dunn to the amount required in making
honest money; in fact to accomplish this
is an imperatively necessary result.
Prays Congress to require The secretary OF
the treasury to pay out on the debts of
the government, including pensions,
contracts and appropriations, and dis
tribute 10 national bank repositories for
that purpose all legal tender silver coin
4l.a
tary of the treasury t. coin into legal ten
der money and pay out in like manner
for debts OF the government, all the sill
yer bullion, now or which may hereafter
be IN the treasury.
That the reserve of 500, 900, 900 gold in
the treasury, which was placed there at
the time of the resumption OF specie pay
ment in 1879 to protect the credit OF the
government against a possibility OF de-
fault in meeting its gold liabilities, be
put IL circulation as since the credit ol
the country is SO abundantly established
all over the world such reservation is nc
longer required. The memorial earnestly
protests against any increase of the ma
tional debt to raise money to pay in gold
debts payable in coin only, or attempting
to administer the finances OF the govern
ment on strictly gold has 5.
The menorialists call attention to the
fact that monometallic England has g
per capita of only S1s.42 in circulation
and monometallic Germany only SIS. 81
and the United States S25. Is, while BIZ
metallic France has S45.56 in circulation
per capita, consisting of $500, 600, 900 gold
and 500, 600, 600 silver, with ratio of 15ls
TO 1, and that it is maintaining parity
between gold and silver coin.
We respectfully protest against the con-
tinuation of the practice by the authori,
ties of bi-metailism in America in follow.
ing moro-metallic England in matters o.
finance. Because Great Britain is the
largest aggregation OF money lenders il
the world, ana your constituents in de-
veloping the country have become thu
largest borrowing nation in the world
and because hers is an aristocratic govern
ment and administered by mobiles, land
lords, bankers and capitalists in the inter
ests of their classes whose interest ant
object is to make money more valuabl,
by a contraction of the currency for golt
basis, who have little regard for tn
wishes OF the common people, who ar
bi-metaIlists, while ours is government
of the people, by the people and for tn
people,"