The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1893-06-30
THE SILVER CRISIS,
Views of a Number of Congressmen on the
Suspension of Silver Coinage in India.

suspension OF silver Coinage In India.
WASHINGTON, June 2S.-From the
comparatively few congressman in the
city the following views have been OBJ
tanned:
Representative Anderson, of West Virginia
sail the action Of the Indian government great
~ embarrassed the situation here He was
free silver man, but he believed the condi-
tions at this time would have to be considered
| in any legislation on the subject, that we
/ could not legislate on the conditions of ten or
twelve years ago and that congress would have
| 10 act in accordance with things they find
them and not upon theories. He thought a
great many silver men were disposed to agree
to some compromise, but the matter OF detail
could not yet be determined upon
Representative Meredith, of Virginia, said
matters were complicated for the silver men
he thought the Sherman law would be re-
pealed, but did not care to guess as to the char
ecter OF the substitute for it.
This action on the part Of the government
Of India said Mr. Boatner, of Louisiana,
throws good many more difficulties in the
I way OF free coinage have no doubt that had
not this been brought aoout Mr. Cleveland
would during the next session of congress
have had free coinage bill presented to him
for his sanction his veto. / cannot
| tell. and one can tell as yet, think, how
IN ch the demonetiZation Of silver in India will
affect this situa tion. 1 have no question in my
mind about the propriety of repeating the Sher-
man law, but re have got to have some means
of supplying money for trade and commerce
The volume of gold is not sufficient and the de-
fciency has got to be supplied by another cur
rency. 1 not welded to any particu-
lar scheme, but what the people of this
country want is sufficient money for busi-
ness and it has got to be supplied
large number of silver who
voted for the repeal of the Sherman law last
congress- did so on their faith that the begin
ming Of this congress the 10 per cent tax on
/ state banks would be repealed For my part,
l saw no reason why the two things should not
have been coupled, and was not willing to
trust to the future for action on the bank tax
and voted against the rereal of the Sherman
law. 1t is not silver per Sc that the people
want but it is suffciency OF sound money. 1
think that congress should have been called to-
gether in April, and now we should get together
as soon possible" "
Representative Oates, of Alabama says he is
hopeful Of a speedy settlement OF the financial
question VIXEN congress meets. He anticipates
CT course, that there will be consleri BILE trou-
bic, and that members will be inclined 10 hod
firmly to the theories they have been present
ing all along. but that the common sense of the
situation is to do sonnet thing to meet the condi-
tions He thinks the most Logical and common
sense thing will be to repeal the Sherman law
and the law levying a 10 per cent tax on state
bank currency. and TO provide for the free coin
age Of silver at such a ratio rs to place it at
parity with gold
4 J Warner of Ohio president of the Amer
lean B.metallic league said: THE stoppage
OF the coinage of silver in India is the Inaugural
tion OF new monetary revolution, or rather
the extension to The FAR east Of the revoluSion
begun in le1.-13 in the western world 1t is
the second act in the same great conspiracy.
II is a movement deep seated and will be far
reaching in its consequences look upon this
act of India by viii III the gatewavs of the east
are closed to silver, together with the deter.
mined purpose OF the monome talists of this
country TO repeal the Sherman act, events
frauyht with greater danger 10 man than any
thing that has before transpired within the
century
'What becomes of the claim that the
United States must stop the purchase of silver
| in order to force England TO join in an interna
tional agreementY England has determined if
possible to force the repeal of the silver pur
chase law in the United States The closing
OF the mints Of Bombay and Calcutta is a part
Of the gigantic conspiracy to seize upon the
present opportunity to establish finally and
forever the single gold standard and to extend
ii all over the world
This IS the critical juncture The turning
point is If free coinage were restored in
the United States it would be to the end of the
single gold standard On the other hand, il the
absolute repeal of the present silver law IN the
United States can be forced the work is done.
1t was. therefore, deemed safer to stop coinage
in India first
The immediate consequences will be that
silver will fall and gold will increase in value
faster than ever. Prices will soon begin to
fall in India The whole world in time, will
feel the effect of the consummation of this last
act of the gold conspirat tors Prices will con-
tinue 10 fall every where as gold rises. The
end no one can Every advantage will
inure to creditors and creditor nations En-
gland has set out to subdue the world not with
arms but with gold-by turning everything to
gold
In this movement, if allowed to run its
course unchecked, there will be fine grinding
before the mills are done. 1t is movement
big with revolutions and is sowing the seeds of
ANARCHY. But will it be allowed to run its
course? That depends on the United States.
If The United States allows England TO forever
dictate her financial policy, as she has done
since the war, then we must take the conse-
Quences. But if the American people have any
independence Of character left they will not do
so: and it should be evident to everybody that
the United States must finally act independ-
emily. The international conference has gone
with the stoppage Of the mints CT India
What is there left to do but for the west
ern continent under the lead OF the United
States, to unite and act independently, and
establish financial system founded upon
equity and calculated to secure stability in
value. and one which will keep an even balance
between the debtor and creditor, not one cal
culated to rob with impunity the debtor for the
benefit of the creditor.
"The god standard under this act of England
c,osing the mints of India, becomes a more un-
Just standard than ever because gold will now
increase in value faster than ever before. A
national convention OF the American Bimetal-
lie league has already been decided upon for
the latter part of August at St Louis Chi
caco This plan will not be changed unless
congress should be called together at an earlier
date than given out by the president"
Secretary Carlisle, in resp p)nse 70 request
to express his views the financial situation
as affected by the action of India on silver po-
litely declined to say anything for publication,
and did hot care to indulge in speculation as to
the future.