The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-15


demo uncing for twenty years the crime of
decentralization committed in 1873, we can
not now call this infamy blessing"
The speaker disputed the statement re-
Gently made before the Iroquois Club by
Colonel Irish that silver had been de-
monetized in 1853. He pointed to the fact
that up to 1873 the minis received all the
silver bullion brought to them as proof of
his assertion.
"The resumption of silver coinage is not
the dangerous experiment Colonel Irish
would have US believe said Mr. Braun
hart. ain fact, it cannot be called an ex-
pertinent. 1t is a system of finance which
las stood the test of centuries, and has
nothing new about it.
"There is no over-production of silver.
Neither can silver be produced at 1ok
cents an ounce. When the abandoned
shafts and machinery are considered, it
must be admitted that every ounce of Sill
yer that has been produced has. cost at
least 81 90.
''The amount of silver in the world avail
able as money is now 81 SO per capita This
refutes the statement as to over-produc-
ton. The low price of silver is due en-
tirely to the fact that the demand for it as
primary money has been filched from sill
yer by Congress. It's value has decreased
as the value of gold would decrease if il
were similarly treated.
eve do not ask bimetallism for the
benefit of the silver mine owners. Still
since the United States produces 40 per
cent OF the silver of the world. it is only
right that it should protect this industry.
Colonel Irish argues that the silver
dollar to-day is 100-cent dollar because
there is gold dollar behind it. The silver
dollar should not be a debt. 1t was not
made for redemption but as a redeemer.
If the silver dollar is to be treated as a
debt the gold dollar should be treated in a
like manner, or the parity of the two
metals is forever destroy ed. But all
Government obligations are made redeem
able in COIN
The sufferings of the wage-worker were
touched on. Major Pearce of ST. Louis was
quoted to show how industries had been
stimulated in China Japan and India bv
the low price in silver. In Mexico, Cen
trail America and other silver producing
countries the high rate of exchange had
forced the people to establish manufac-
tories of their own to the detriment of this
country. In this way labor is debasea by
being brought in competition with the
slavish hordes of the Orient.
Mr.. Braunhart put no trust in the Will
duce tariffs, though the revenues were re-
duced through MISREPRESENTATION.
with free coinage of gold and silver
and the retirement of all paper money and
coins below the denomination of $40. the
United States can rehabilitate silver with
out waiting for the action of any other
country. Those who claim that we can
not succeed without the cooperation of
Great Britain forget that that country
demonetized silver in 1916; yet the United
States continued to coin silver in unlimited
quantities without depreciating the com
mercial value of silver bullion.
"Ard later France preserved the parity
of the two noble metals after England
Germany, the United States, Norway and
Sweden had closed their minis to silver.
France did this without financial disturb
ance, although she had little more than
half our population and inconsiderable re-
sources compared with ours''
In conclusion Mr.. Braunhart said that
he agreed with Colonel Irish that PRAYER
should be offered for Grover Cleveland.
He said:
I join in the supplication to Providence that
the scales may fall from the eyes of the Presi-
dent, that he may see the great suffering he
has caused to millions OF his countrymen by his
arrogant, imperious and compassion less noIicv
Let US pray that he may be moved to follow the
best promp tings of his heart and to take heed
of the warning of the misfortunes that have
peial1en people whose wrongs cry aloud for
redress.
let us pray that he may listen to the voice OF
an enraged people VINO demand no special
privileges but equality before the law.
Let us pray that he may yet retrace his steps
and continue the greater battle of the gold and
silver coinage of the constitution to which his
party platform has pledged him.
Then c. w. Reed asked leave to read
ten-minute address. In it he declared
that the act of 1873 was passed after full
discussion in both houses, and without
any stealth or fraud. He quoted authori-
ties at length to support his position.
Charles Gildea did not like this. He was
as sure Mr.. Reed was wrong as Mr.. Reed
was certain that Mr.. Braunhart had stated
untruths.
Mr. Gildea declared that the Congress.
sional Record and the Congressional Globe
showed there was no debate on silver when
the demonstration bill of 1873 wa spassed,
and that even President Grant was ignor-
ant of the purport of the bill he signed.
Both gentlemen seemed about to lose
their tempers, when it was suggested that