The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1893-09-01
CONGRESSMAN BELL SPEAKS.
Our Congressman Calls the Attention
of the Representatives to . Few.
Plain Facts Concerning
silver. r..tf

Congressman Bell Of Colorado got chance
| to speak on the evening Of the aSrd and pre-
sented 4 carefully prepared paper on tho
question Of free coinage. lie marshaled an
array Of statistics and facts 10 prove tho need
OF more silver currency and showed the fall
lacy Of those predicting disaster rs the result
| of full reconciliation. A special dispatch to
the Denver R,publieas gives synopsis Of Mr..
Bells speech.
That the present depressed condition Of the
country was due to the purchase OF silver un-
| der the Sherman act Mr.. Bell denied. This
| cry came from tho East, where, with an ns-
sessed valuation Of property amounting to
.,orc than se7, 0O0, 600 900, such . statement
VA absurd. The tightening Of our money
market. Mr.. Bell said, was due to the return
of our bona, and tho demnnd for the money
advanced upon Them, and u 9 failures In other
countries. II vm a.,,.o due h, the fact that the
government, - at present "a ministered wsd
against silver, and IL failure to coin IL y rel
aairea BY Law bad caussd the other metal q
60 TO premium.
One Of the main causes that !How amice
cd the country, Mr.. Bell found, issA iss orig
In the iuhAmmatory circulars sent bs> adcasy
and the uttcrances Of the press, for ~ put
pose Of compelling an extra scsslon of 20
grcss TO repeal the Sherman act. This IN
undated the laboring people and causd
them 10 draw their money from banks. ,pA1
ucuiarly was this the case In Colorado. u
the panic Of 1864 In India, when her instit,
tions failed, II was impossible 70 secure loal&
Of silver rupees on any amount Of EngMA
gold, and 80 to-day In Colorado money coul
not be borrowed even on gold ore. With y.
money famine such M this 10, business wG&
depressed and the weak fell into tho hands -
the strong. What was needed was legal tee
der money IN abundance. The I,othschil
and the Bank OF England owned e9s, 700, Coz
900; payable In gold, and the world only n
little less than a 900 900 900, not enough
pay more than 10 cents on tho dollar. VI
Mr.. Bell argued against any change In Il y
ratio, and said that the present silver DOLL
was above par. A ratio Of 20 TO would ~
auire rccoiuagc aud contrac, the currcnt
and not only disturb this but other countrL
What was needed was an abundance Of &C.
automatic currency, and silver should 10 q y
en- fair coinage test before the ratio ~
changed, for tho reason that the actual raj
OF silver to gold WAS now 1871 TO I. "
In refuting the statement that there wa
oyer-productlon, Mr.. Bell quoted the iabl( )
showing the yearly production and the ngurD
TO prote that II wins always absorbed BY IL
world. The national and other dcbh wc1I'
made when silver was money and then lac
had been passed making them pay able In gol&
Mr.. Bell then showed that tho present Z y
yer dollar Was an honest standard and thu
gold was m apprceiating medium having got&
to ti.to. ID
Drawing comparison between tho uniil1
States and France. he showed thst II wouo3
require q ,is7, 100 900 In silvcr to make Z
even with that country In per capita. Franz
msintained her silver because her debts wsen'
held by her own people instead Of for forcis
creditor. - "a
Tho whole logic Of tho gold men was faisl
The president and bis follower. in the midi
Of n scarcity Of money, were seeking 10 cu&