The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-12-05
SILVER QUESTION IS UP.
DISCUSSION OF 1T IN THE TRANS
MISSISSIPPI CONGRESS.
Congressman Bryan Chairman Of the
Committee of ResoIutions-Friend
of free Coinage Hope tn Win the
Day-Bimetallic League Meeting.


as warm applause, when free coinage was
mentioned been encouraging, but the or
ganization of the committee on resolutions
with Congressman w. ]. Bryan of Ne
braska, as chairman. and r. A. Marshall
Of Texas as secretary, has been highly de-
lighting. Nevertheless. there is as yet no
certainty that the matter will go beyond
this. In the convention there is strong
element opposed to any expression what
ever upon the subject by the congress.
Whether the bimetal.ists will be strong
enough to overcome both these elements
cannot be tod.
At today's session of the transmississip-
pi congress announcement was made
Of the members selected BY the
various state delegations for mem
bership upon the committee Of resolution.
Wyoming, Louisiana, Nevada and North
Dakota are not represented in the conven-
ton. while Minnesota, Oregon and Alaska
were abe to name but one member instead
Of two as authorized. The report of the
rules committee was adopted, being purely
formai, until the clause limiting the maxi
mum voting power Of each delegation to
thirty and the minimum TO ten was
reached.
At this point Delegate F. J. Cannon of
Utah moved to strike out the maximum
limit. thus giving the full delegations a
vote for every man.
Ex-Governor Prince of New Mexico in
dorsed the original report as necessary to
prevent near by sections from over
towering by their easily transported dee
cations, those unable to send a full delega-
ton from far away points.
Delegate W. j. Bryan of Nebraska op-
posed the amendment offered by Delegate
Cannon. as It Intended to permit two or
three states to rue the convention TO an
extent reducing the weight of the recon-
mendations Of the congress. After further
debate Mr.. Cannon withdrew his amend
ment. eXpaining that Utah had no more
delegates present than were legally called.
The original report was adopted.
Among numerous resolutions introduced
today was one by Delegate Bryan Of Ne
braska. favoring the restoration Of the free
coinage Of gold and silver at the ratio of
is 10 1 without the aid OF any other nation
on earth. Delegate Cahill of Missouri in
trOduced a resolution fav0ring efforts by
the government toward inducing other
governments to recognize silver more fu..y
as a money metal
The committee on permanent organiza-
ton named George Q. Cannon of Utah for
the permanent presiding officer with one
Vlce-presldent from each state The tenn
porary secretary, NJ. q. Butterfield of Ore
Son was requested to continue through the
congress.
Al the opening Of the afternoon session
CplgT'stsSnan-E,ect ShaffrOth Of Colorado
addressed the delegates upon the silver
question Mr.. ShaffrOth opened his re-
marks with theoretical discussion Of tha
effects of the complete decentralization Of
silver touched upon the annua. prOduc-
ton Of god and arguing from the Statistical.
assertions that more than 10 per cent. of
II goes INTO the arts held that, as the
remaining % per cent. was equal TO but |
per cent. of the aggregate money supply
or the world, while the increase of de
mand in trade was six times in excess of
that percentage. there was but one course
to follow to supply trade with its neces-
s3ry medium Of exchange, and that was
the free coinage Of silver
The discussion of the decentralization
of Silver" was opened by Ex-Governor
Prince of New Mexico. He charged tina,
the eastern section Of the United States
was opposed to bimataLism, not from prin-
cip.e, but from absolute ignorance of the
subject The West, by reason Of its init
mats association with the need of
greater supply Of money, was better in
formed. while in the East only the bank
ing element was acquainted with the mat
ter.
Turning to the demonstration act Of
1873. passed, as he asserted. by secret
fraud, and which no member Of congress
has ever acknowledged having voted for
with the knowledge that it did demmetZe
silver. he said al the silver men asked
was the repeal Of that law which no man
acknowledged paternity for, and which
every man In public life then or now de-
clared a child of stealth. The demand
would be the same We're there not sin
gle ounce of silver produced in America
1t was the need Of a circulating medium.
Take, for instance, the wheat crop. The
decline in the price per bushel had been
from 1.19 to about so cents or a net loss
10 the farmer at present of. $3.50, 900 600
per year, on taking the average acreage
value Of wheat, corn, oats, hay and cot
ton. the decline since the demonstration
Of silver had been from S15.65 to SS.15 or
As per cent. Taking the bimdtallic prices
Of 1873 as a basis. the gain by a restora-
ton of silver, t. agriculmrists, would -
1900, 900, 600 annually. This, in the face of
the fact that the decline of silver made a
net .oss Of $50. 000, 900 annually to the miners
proved that the issue was not loca. to the
mining interests. Indeed, the decline in
prices was not a decline Of values, but
an appreciation of purchasing power and
what more could be said In favor of an
increase in the medium of exchange.
Immediately upon Resembling tonight
the discussion upon the Decentralization Of
Silver" was resumed. Col. George Z.
Leighton of st. Louis being introduced
to present the views of the conservatives
upon the silver question. He belonged, he
said to those who believe thai free coin
age Of silver at 16 to would be a certain
aggravatiOn of existing ills and deprecated
the use Of artificial props to advance the
interests of anything
Congressman Bryan was received with
great outburst Of applause In the
course of his remarks he quoted James c..
Blaine, Secretary Carlisle and others
equally prominent as declaring that the
Decentralization of silver was a crime
against the people, in that it destroyed
from three-eighths to one-half of the eX-
listing medium of exchange and appreci-
ated the balance to the benefit Of him
who has a fixed income in money. There
were three propositions to be met, the
question of ratio, the limited coinage Of
silver, the coming Of silver alone or with
the aid Of foreign nations. To these prop
ositions he had but this answer-16 to
on unlimited coinage and by the United
States, without the aid of any nation on
earth
Governor Anthony of Kansas then came
10 the front and received a greeting scarce
ly less warm than that of Mr.. Bryan. The
government rested upon the consent of the
governed he said, and there is no power
in the government to say that any man
shall accept fifty cents worth Of silver as
a dollar The cost of an article was de-
termined by the amount of labor invested
therein. The value was determined by
the man who wanted to buy, and this same
test had been applied to silver and had es-
tabnshed its value. 1t is the province of
the government to fix only the unit, not
to decrease or enhance the value Of a
commodity.
/ ST. LOUIS, Nov. 2S.-In the transmits
/ sissippi congress today the chairman of the
committee on resolutions, the Hon. w. j..
Bryan of Nebraska, presented the major