The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1894-05-24

la,borers to be employed, II they are cut
oH from this resource? 1t is impossi-
BILE and blind man ought to be able
IN see 1t. l think the Democrats will
succeed in forcing this Wilson iii
through congress. Now, the next house
NJ representatives will undoubtedly be.
Republican. The late elections point
70 II; then Congressman Reed will be
made speaker, a protective tariff bill
will be passed; 1t will be sent to the
senate; this is Democratic, and 1t will
probably be rejected. The issue will
then go before this country in 1896 I
have no doubt about which party will
succeed"
your views on silver, Mr.. Mont
eomery, are of course very pronounced,
and would you mind stating what you
believe is and will be the position Of
the Republican party on this important
question:"
"I will answer that question by stat
ing a fact. President Harrison, in 1881,
appointed five delegates to the Brus-
sells monetary conference. They were
Henry w. Cannon, of New York, SEN
ator VIM. B. Allison, Of Iowa, Senator
.Jno. p. Jones, of Nevada, Republicans;
Gov. McCreary, of Kentucky, and Pres
ident Il. benjamin Andrews, of Brown
University, r. l., Democrats. These
men were all devoted to bi-metallism
and TO a free coinage Of both gold and
silver at a fixed ratio. They went there
and for six weeks tried to induce that
conference. composed Of twenty ma
tions of the earthf to adopt bi-met-
allism They did not accomplish their
porpose, because England refused TO
acouiese; but England, recognizing the
necessity for the further use OF silver
, pronosed. through one of her represen
tatives. Alfred de Rothschilds, that
the nations Of Europe would buy annu
ally s25,OOO, 900 of silver provided, thu
limited States would continue its pur
chase Of 54,OOO,OOO ounces per year; but
our delegates refused to consider the
proposition. This was because 1
was not bi-metalism, and that is what
we believe in the United States-espe
cially tae Republican party.
"The United States, France and the
Latin Union and Germany, all coineC
silver for 100 years at ratio of about
151-2 to / of gold, free, and made i
legal tender for all debts. During tha'
. time the ratio between gold and silve
was maintained without any consider
able variation, notwithstanding the fac
= that during the first 70 Of that 100 years
the quantity of silver produced In thu
world was three times as much as th'
, quantity of gold, and notwithstanding
the fact also that during the last y
: years of the century. three times al
much gold was produced as there wa
of silver. I say that the mint ratio o
1912 to was maintained during tina
time, which shows that the quantity o
gold and silver produced in the worl'
has nothing to do with the maintenane
of it's value.
+ "The statement of the gold mono
4 metallist that silver was demonetize'
on account of its great over-production
is false. When silver was first de
7 monetized by Germany, in 1871, ther
was only 5000 900 mined in the world
n against $lS2 100000 of gold.
, 'Silver has degraded or demonetlze
n not because of over-production, becaus
q the production of silver today as com
4 pared with gold, is not one-half create
than 1t was so years ago. when tn
: parity between the two metals wa
: maintained. Silver has deprecated De
= cause 1t was degraded as a coin money
. Silver has not deprecated today, 1t
gold that has deprecated, and to sho'
. you that, will merely state that tax
!, ing the two articles of wheat and cot
ton, silver today will buy more Q
either than 1t would in 1878; but gol
will buy more than twice as mucf
showing that gold has appreciated, an
silver has not deprecated.
NEARLY every public man in tn
United States is in favor Of the use
= both metals as money.
ut is u mistake, as some people as
sumo that bankers are interested IN dc
monetlzing silver They are all intel
ested in its reconciliation, for this rea
son. While values continue to fall, n
business prospers everything is dni
the banks cannot discount paper p'
cause of the want of confidence in tn