The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-31
BY THE OREGON MAN
Senator Mitchell Raises His Voice in
Behalf of Silver.
NO BOND ISSUES FOR HIM
There VIII Probably Be a Vote on
Jones' Proposition Tomorrow,
Not Before-A Quiet Week
So Far In the House.

to-day. Hale reported pdch lHe URGENT
| deficiency appropriation bill, and gave
notice that he would ask to take it UP
tomorrow. Morrill, called up the bill
for the payment to the widow of the
late Samuel F. Miller, justice of the
supreme court, of sum equal to the
balance Of his salary for the year in
| which he died. The bill was passed.
The resolution directing the secretary
of agriculture to execute the law rela-
tive to seed distribution was then taken
up and George spoke in defense of the
course of the secretary. Gallinger and
Allen supported the resolution. The
resolution gave way at o'clock to the
silver bond bill and Call continued his
speech begun yesterday.
Mitchell followed in support of the
silver substitute. He said that the
question presented was whether 1t was
necessary to increase the bonded in
debtedness to maintain the gold stand
ard or, by a greater use of silver, re-
store 1t to its primary place as money
of the constitution. Mitchell pointed
out that our foreign Indebtedness dur
ing the past % years, had greatly in
| creased, notwithstanding the fact that
| during that time there was a balance
| of trade in our favor In merchandise of
81, 763, 500 900. besides silver exports of
1886. .311 .625 and gold exports of $2z1 $780,
| 721. 1.-The cause" said Mitchell, "of
this vast balance of trade in our favor
| during this period in merchandise, is
| that gold and silver has gone to for
| eign lands, mostly to Europe, to meet
| the expenses of freight charges in our
| carrying trade, to pay on the interest
| of our foreign Indebtedness and the ex-
| penses of travel of Americans in Eu-
| rope. This is the manner in which the
| debt has been created and is constantly
| accommodating, and we are unable to
meet the interest, much less the princi-
| pal, for the simple reason of the great
| depression in the value of our exports
| since 1873.
| There are, in my judgment, two
| remedies to be applied. First, our
shipping marine must be encouraged
and built up, and we must become our
own carriers; and, secondly, we must
| legislate to increase the value of our
export commodities so as to enable us
to meet, reduce and, If possible, wipe
| out the debt which to-day makes the
people of this country virtually slaves
| to the money lenders of Great Britain.
| We must reduce our expenses and in
| stead of issuing new bonds, stop incur
ring obligations abroad and increase, II
| possible. the value of our commodities.
including silver, with which to meet
| this indebtedness"
Mitchell discussed at some length the
competition of China and Japan with
the United States. 1T is incredible"
said the senator. that the people can
not be made to realise the great trans
parent fact. so absolutely apparent,
that the effect of the operation of the
single gold standard is to bring our Ia
borers, our manufacturers. our arti-
sans and our farmers. as well, into d.
rect and rulnous competition with the
laborers, the manufacturers and arti-
sans and the farmers of every silver
standard. silver using country in the
| world. We have as a nation proclaim
ed loudly and properly and iegislated
| vigorously and wisely against Chinese
immigration, but we are threatened to-
| day. and especially is this so with ref
erence to the Pacific coast states and
territories, with an industrial foe, a
mighty, desolating army, in comparison
with which Chinese immigration is an
| evil Lilliputian in character; and this
state of things is not only made posi-
Il
in this country and by the practical
operation of the single gold standard.
but is actually generated, warmed into
life. promoted. encouraged and sus-
tained by the monometallic gold pol
| icy"
Mitchell said trhis was so. because
the purchasing power of silver in all
silver-using countries has not depreciat-
ed. 1t is as great to-day as ever be-
fore. The purchasing power OF silver
bullion, even IN this country. is as
great now as ever at any time in the
past. Their standard of value Is silver
The yen of japan and the tael of China
go just as far in paying wages, in till
ing the ground. in the manufacture of
and in operating machinery. in herding
sheep, in growing cattle, in manufac-
| turing cloth. as ever they did at any
| time heretofore; whereas, gold in the
| single-gold standard with gold-using
| countries, has appreciated. as compared
| with silver. 100 per CEN. Their products
| their goods. therefore are prepared for
| the market, even were there no differ
| ence in the cost of labor I'm the two
| countries arising out Of diverse rational
| and climatic conditions, at Just one
| half what ii costs 20 produce the same
articles in the gold standard. gold-us-
| ing countries. What Is the result? ?
They. the Chinese and japanese, the
| people Of South and Central America,
can afford, without trench.ng on their
| proats, 10 sell the product Of their
farms. or OF their shops. or their factor
! les. to the people OF a gold standard.
gOld-using country. for just one-half
the price in gold they would have been
compelled - sen for r blmetall.sm had
been maintained and the destruction OF
the parity value bstwee the two mon
eys had not been brought about by sd
yer Concentration.
Mitchell described the great indus