St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-19
A. SPEECH ON SILVER.
HON. J0HN LjND ADDRESSES THE
UKi0N LEAGUE
An Exhaustive Review OF the
Money Legislation by Congress
Prior to and Since the De-
monetization OF Silver - Acc
cordinR to the Speaker, the
Remedy Lies in Restoration.

cordinR to the Speaker, the
Remedy Lies in Restoration.
Hon. John Lind, of New Ulm, and
the ex-conRressman, spoke before the
Union League last night OH the coinage
OF silver and the financial issues Of the
day, his views being the same as eX
pressed while member of congress,
and at intervals he quoted from his
speech on the silver question. He
strongly advocated the placing of
silver Oh parity or equality
with gold, citing ratio of sixteen
ounces of silver to one of gold, and he
gave it as his firm belief that by so
doing the government would find solu-
tod of the money problem.
w. 7. Roberts, president of the club,
presided, and his remarks were listened
to with the utmost attention. the speaker
being frequently interrupted to answer
| queries.
In commencing he gave history of
the silver legislation prior to the pas
sage of the Sherman act, and he stated
that the bill demonetizing silver had
| been signed by President Grant under a
misrepresentation. Reference was made
| to the sagacity and acumen of the lat
ter. whom. he said, entertained we'll
defined views as to the relative
value OF gold and silver. Fol-
lowing the passage of the act
great scramble for gold had ensued and
especially in England and other Euro.
pean countries, the rapacity of which
had been again ard again demonstrated.
The result was that while the price of
gold went up the price of COM
modities lowered, and what was
true then is true today. He here
fortified his position with quo
tations from the speeches of Lord Bea-
consfeld and other eminent authorities,
showing that so far back as 1879 gold
had appreciated, while shrinkage had
taken place in other values. Ii con
gress, he said, at that time had passed a
parity with gold, there would have been
no silver question to solve today, and
the metals would now be recognized OH
an equality throughout the world.
Great and leading minds, he contin-
ued, throughout the world had now
come to look the situation squarely in
the face. as the question concerned the
vital needs of humanity. and il contrac-
ton continued to 20 on mankind would
rebel even If it came to revolution.
All agreed that it is absolutely
necessary to have more stable stand
ard, and the remedy lay in the restora-
ton OF silver as money metal. causing
1t TO bear an equal part of the burden
with gold. This did not mean imitation,
but steady and equitable value.
Figures were cited to show the rela-
tive production of gold and silver, the
volume in circulation and their bearing
on the national debt, and in this cOnnec-
ton he said that it is impossible to fix a
respective and unyarying value on the
precious metals for the reason that. ur-
like anything else. their production
is uncertain and would always remain
matter oil chance and fortune. By
the reconciliation of silver there would
follow decentralization of gold, and it
would follow that, as commodities, they
would assume parity and an even
raulo. The latter, however, is imma-
terial as long as just equality is estab-
lished, when their functions would
become of equal utility for the benefit
of mankind. This is the new political
economy of the age, and it is based on
the doctrine of equal interests. Money
is of use just as the people of nation
SKea Its y value it. and the United
hdS llC power 10 restore silver
and place it OIL fair equivalent with
gold. When Uncle Sam has spoken in
making the ratio 16 of silver TO of gold
all the world would acquiesce in the
justice of the measure. for there is not
Jew in all Europe that would sell his
silver at discount.
MIR. Lind's speech bristled with sta
tlstics to back up his statements. and
he cited copiously from eminent author
tiles on the money question.
Upon the conclusion of Mr.. Lind's
address short speech was made by
Prof. Folwell. of the university. The
latter complimented Mr.. Lind. saying
that lie agreed with him on most points,
and in a succinct manner he proceeded
to demonstrate that the country is suf-
fering from contraction of its circu.
lating mediums. In conclusion he
promised to speak more at length at
future date. when his subject will be
illustrated with charts.