Rocky Ford enterprise., 1893-08-31
CONGRESSMAN BELL SPEAKS.
Our Congressman Calls she Attontisn
= Of the Representatives to . Few
Plain Facts Concerning
- silver. f,-y


to speak on the evening Of the 23rd an
sented carefully prepared PAPER
question OF free coinage. He marsha
array Of statistics and facts to prove the
of more silver currency and showed the
lacy of those predicting disnster rs the resi-.
of full remohetization. A special dispatch 70
the Denver Republican gives q synopsis Of MI
Bells speech. f4--
That the present depressed condition Of the
country was due TO the purchase of silver ,ln-
der the Sherman act Mr.. Ben a.-iaa rh'a
cry came from tho East, where, with an as
sessed valuation of property amounting to
more than SCI, 900 900 600 such statement,
was absurd. The tightening Of our money
Market Mr.. Bell said, was due to the return
Of our bonds and the demand for the money
advanced upon them, and the failures In other
countries. 1t was also due to the fact that tho
government, as at present administered, was
against silver, and Its failure to coin 1t as re-
Quired by law had caused the other metal to
60 to q premium.
One Of the main causes that now Affiict-
ed the country, Mr.. Bell found, had its origin
in the infammatory circulars sent broadcast,
and the utterances OF tho press, for the pur-
pose Of compelling an extra session Of Con-
gress to repeal the Sherman act. This In
them to draw their money from banks. Par
ticulsrly was this the case in Colorado. In
the panic Of 1884 in India, when her institu~
tions failed, 1t was impossible to secure a loan
Of silver rupees on any amount OF English
gold, and SO to-day In Colorado money could
not be borrowed even on gold ore. With
money famine such AZ this 10, business was
depressed and the weak fell into the hands Of
the strong. What was needed was legal ten
der money in abundanee. The Rothschllds
and the Bank of England owned $2s, 900, 000,-
600, payable in gold, and the world only had
little less than "a 900 600 600, not enough tc
pay more than 10 cents on the dollar 4. i
Mr. Bell argued against any change in the
ratio, and said that the present silver dollar
was above par. A ratio Of 20 to would re-
quirc recoinage and contract the currency
and not only disturb this but other countries.
What was needed was an abundance Of good
automatic currency, and silver should be Civ
en- a fair coinage test before the ratio wac
changed, for the reason that the actual rattle
of silver to gold was now 1877 to L.
In refuting the abatement that there was an
oyer-production, Mr.. Bell quoted the tables,
showing the yearly production and the figures
to proSe that 1t was always absorbed by the
world. The national and other debts were
made when silver was money and then laws
had been passed making them payable in gold.
Mr. Bell then showed that the present su-
yer dollar was an honest standard and that
T gold was an approaching medium having gone
to lao. q NAgt
Drawing comparison between the United
States and France he showed that II would
require 81 ,1s7, 500 900 in silver to make us
even with that country in per capita. France
II Hooo hne dohf
held by her own people instead Of for foreign
creditors. -
The whole logic of the gold men was false.
The president and his followers, In the midst
Of a scarcity of money, we're seeking to cut
of the supply. Labor, at best, had been un.
employed, and still they sought to add humid
reds of thousands to the great and constant
ly-increasing army Of unemployed. By this
act they destroy their best customers-the
West. The silver states alone purchase from
the Eastern states over $50, ,00O, 600 per annum
of their product, trade that is worth more
than that of South America and Europe COM
bined Already 50. .OOO,0 600 Of fall orders have
been countermandcd. How would the turn
Ing loose Of 15O, 900 laborers In the West i'm
prove the condition of affairs in the East!
The right of the subversion of private for the
public good should only be recognized in
cases Of necessity.
The constitution and tradition have recog-
nized silver as a money metal and privatepar-
ties had been urged by the government to e1-
plore and develop the West, and Lincoln told
us to go In the mines and add to the wealth
of the country, and Grant said that silver must
form a part, and large part, Of our circulat-
ing medium. The people were not demands
Ing the abandonment Of that money 1t come
from the boudhoiders-the same power tha
broke the banks fp the South. The nai4
tcnancc Of silver Inans equal rignts
and special pr'-'