The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-20
!. THE FINANCIAL FORUM /
ONLY HALF THE RECORD.
Correspondent Errs From Failing
to Read 1t All.

To the Editor OF the Globe.
In ~ your issue OF the 18th inst you say
ee1ni!sorlaliy: The advocates of the Bland
AIison act were not surer of or lnsistent upon
any other proposition than that the enactment
| OF that law would raise silver bullion to mar
with gold at the ratio Of IS to /. and main
In this you are entirely mistaken The
bIand act was originally introduced into the
house OF representatives by Mr.. Bland as
Tree coinage measure. and such passed
that house OF congress 1t provided in unmis-
takeaDie terms for the free and unlimited
! coinage at the ratio Of 16 to l.
1t was then sent to the senate. There the
gold bugs flew upon 1t and amended 1t out Of
all semblance to the bill that had passed
In the house These amendments were Bit
terry fought by the silver men in the SEN
ate and the charge was even then made
that the object of the amendments was to
discriminate against silver while pretending
70 legislate In its favor. The bill was SO
amended that instead OF providing for the free
ana unlimited coinage of silver it provided
mercy mat the government should buy and
coin from 10000 600 to 81, 000, 900 per month of
SILVER, and that instead of issuing the silver
uoiiars and putting them in circulation silver
S eertlncates should be issued in their place.
90 amended, the bill passed the senate and
was sent back to the house for concurrence
What took place then you will find recorded
In the Congressional Globe Vol 7 mart } re-
ginning on page ,251.
For the purpose of giving your readers the
true history Of this very important matter
paper to print most of the following en-
tracts:
Mr.. Bland said page 1.25p-I do not like
this bill (as amended). 1t is not what the
country expects. But / am in favor of taking
this now as making one step in the right di.
rection But give notice here and now that
this war shall never cease so long as | have
a voice in this congress until the rights of the
people are fully restored and the silver dollar
shall take its place alongside the gold dol
lar. l say l protest against this bill
while | vote for it under that protest
Mr.. Whitthorne page 125D-Treating the
senate amendments as one, 1 am opposed
First. Because 1t invites capital to coerce
into general use the single standard of gold.
| Second. Because it discriminates in favor
of gold and against silver.
Third. Because it creates a public debt
unnecessarily.
Fourth. 1t pledges the faith or seeks to
pledge the faith, Of the government to what
may become an entangilng and dangerous
alliance in the life-blood of domestic
trade and commerce.
Fifth. 1t Is not responsive to the demands
Of the people and their industrial interests,
nor, indeed, to the requirements Of the con-
stitution.
Mr.. Southard-I take this measure as a
choice of evils, while l am opposed to most
of the senate amendments. The discrimina-
ton made by them against silver, as COM
pared with gold, will always cheaper silver
and keep it at a discount.
Mr.. Ewing page 1858, calls 1t ''delu-
sve compromise
Mr. Finley-The limitation Of the coinage
Of silver, provided by the senate amend
ment, is Objectionable; but l am willing to
take a half loaf rather than bread at
all.
Mr.. Cox page 1851 stand upon the prin-
ciple that gold and silver shall walk hand
in hand in their financial function, and it Is
but just and fair to both of them that they
should have equal chances; otherwise the
result expected may fall But have not time
to discuss that (hiS time was limited to three
minutes), except to say that although the
bill does not come up to the standard which
l marked out, / will stand upon the old
the very best thing, then take the best you
get.
Mr. Springer could not be reconciied to the
amended bill and voted against 1t, although
he had voted for the free coinage bill when
1t passed the house. He said page 1889:
Nine-tenths of the people demand of their
representatives the passage of an act re-
free and unlimited coinage, and making 1t
full legal tender for all purposes. VIII
they be satisfied with this halfway measure,
which while 1t remonetiZes, degrades silver,
and locks up in the vaults of the treasury
the whole coinage, If silver were some
thing unfit for circulation among the people2
So you see Mr.. Editor, the silver men Of
1873 said just the opposite Of what you would
have the people believe they said. II Is
time that, while the free coinage measure was
under discussion in the house. its friends
predicted that If 1t became law 1t would
raise the price of silver to a parity with
gold but that measure never became law,
patched uD from Ii in the senate was an al
together different thing-a thing that sill
yer man ever predicted would raise the price
of silver to parity with gold Yours very
respectfully. %. A. Turner.
Aug. IS. 1885,