The herald., 1894-11-28
Debated by Men Who Have
Made a Study of the
& Subject.
FREE COINAGE ADVOCATED
Ey Congressm an Elect ehnfroth, Eek.
Governor Prince, Con ongressman
Bryan and Othsr Able
6peaksrss
By the Associated Press.

ST. LOUIS, Nov. 27.-The develop
ments of the second days session OF the
transmississippi congress have not been
without interest for the advocates OF the
recoinage of silver. who have been
anxious to s""ure definite expressions
from the congress in favor OF the white
metal.
Not alone have the minor fea lures,
such as warm applause when free coin
age was mentioned, been encouraging.
but the organization of the committee
on resolutions, with Congressman w. J.
Bryan Of Nebraska as chairman and E.
A. Marshall of Texas 40 secretary, have
been highly delighting. Nevertheless
there is yet no certainty that the matter
will 60 beyond this. In the convention
there is strong element in favor of in-
ternational free coinage only, and OPP
posed to any expression W whatever upon
the subject by the congress. Whether
the bimetallsts will be strong enough to
overcome both these elements cannot be
told. Yet there is e certainty that the
main struggle will be on this portion OF
the resolutions committee'a report and
the battle will not be a brief one.
FLEA FOR FREE SILVER 49,
At the opening of the afternoon ses-
sion, which was delayed until nearly
O'Clock, there being nothing before the
convention having special precedence,
Copgressman-electS ShRfroth OF Colorado
was invited to address the delegates on
the silver question. Mr.. Shafroth
opened his remarks with theoretical
discussion OF the effects of the complete
demonetization of oliver and the conse-
quent compelling of any one metal. gold
for instance. to transact the business of
the country or of the world. He
touched upon the annual production of
gold, and arguing from the statistical
assertion that more than rs per cent of
that production goes into the arts, held
that the remaining % per cent was
equal to but per cent of the aggregate
supply of the world. while the increase
OF demand in trade was six times in ex.
cess of that percentage. There was but
one course to follow to supply trade with
its necessary medium of exchange. viz:
the free coinage of silver.
Following this he reviewed the posi~
tions of the various governments of the
world with relation to gold and the in
creaae in the number of nations relying
entirely upon the yellow metal as basis
of circulation. asking if it were not
reasonable that, with the necessarily
appreciated value of gold, silver should
be used to meet the ever'growing de-
mand fer exchange.
He opposed with all bis might any
proposal for the limited use of silver, for
anything short of free coinage under the
financial system now existing, meant
simply the redemption ultimately of
Al.o I'll
preciating the value of the latter metal.
Silver and gold. he claimed, under un-
restricted conditions, were automatically
regulative OF each other; and moreover,
tho facts showed that the production Of
silver WAS annually larger than that OF
gold, vet when relative comparisons
were made of the totals in the world at
the end of the year, there was less than
one per cent greater increase of silver
than of gold--3S. 100 of per cent, to
speak correctly. What danger was thers
in that?
MORE RESOLUTIONS.
At the close OF Mr.. Shafroth's remarks
more resolutions were introduced and
referred to the committee on resolutions
without debate. Among them were
these
By the Seattle chamber OF commerce,
opposing the adoption by congress OF
any resolution demanding the free coins
age OF silver; iavoring the early con-
struction of the Nicaragua canal; OPP
posing the so.called Olney plan with re-
gard to the Pacific railroad debts, and
favoring the foreclose Of the government
mortgage, with the restoring to the peo-
pie of the granted lands; favo.ing tax
ing away from congress its coinage
power and its return to the people un-
der the system of initiative and refer
endum; favoring the withdrawal of all
existing circulating mediums and tho
substitution therefor of an issue of full
legal tender treasury notes to the amount
of $50 per capita; favoring the creation
Of cabinet Office TO be known IA the
department of trade and commerce. and
numerous others Of minor character.
RECONCILIATION OF SILVER.
The hour of 4 o'clock having arrived,
the special order took precedence and
the discussion OF the reconciliation Of
silver was opened by Ex-Governor Prince
of New Mexico.
Upon the principle that all structures
must first have foundation, the gov
ernor stated he would conine himself to
statements Of facts. leaving the super