The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1896-07-30

Of his fun l"ga' tender money In order 10
iecoin II Z or m'nt>. Europe's silverware.
Ike America silyrrvarp. carries on II the
additional value Of labor and the munufac-
turcr's profit. They threaten us with a
Hood of SILVER from the far East. We an
Swer that the to1rse of silver is Invariably
Eastward ana never toward ;he West. Brit
ish India Is . - "'ftvai sink Uf silver. alb
SORTING =, tfr' "a rctTn ty from $50. 600
coo 20 '"' 9'''U worth every wear. And
midas ALSO" f. % CC si,v~: VII be enlarged
by the sic / eS' of price for silver fixed
by our REQ t''H minis. They threaten MS
with a sudden retirement OF Goa. 0OU. 600
gold. with the ""CCrlpany u SpaRic. causing
contraction ara commercial disaster up-
parai'e!ed.' We answer that our .o.al stock
of gold other than about S1o.OO0.0O or
~Slo,UN.W'n Circu'l;ing on the PaCiit roast
Is already in retirement. Practically a.;
our gold is In the United States treasury O.:
held by banks. The gold held in the treas.
ury VIII remain there if the secretary
ayails OF his option 10 redeem United
States notes In silver. The gold in the
banks constitutes the quiet and undisturbed
portion OF their reserves against their liza.
bilities. Ii will continue to do money duty
as such reserves after free coinage for sir
yer is enacted. Hence a premium on IL will
not contract the currency. The utmost
possible contraction Of the currency will be
he few millions circulating on the Pacific
coast. and this viii he retired but slowly.
A similar threat Of Il Eight of gold was
made for the Elanl AIT of 1878. Fresiden!
Hayes was urged to veto il. but congress
passed ii over tie veto. Instead Of Il flight
OF gold, as had Zen predicted, we gained
by Importation S4,OO0,C0c the first year,
SIO,OOo.OnO the next and :9A.OOO. coo the
third year. DUring the twelve years that
the act was on the stat1tc book We gained
S221 ,Orn oo0 of for,.g IN gold. In stead Of the
destruction OF our credit abroad. as hac
been predicted. the United states 4 pei
cent loan. which stood NJ III on the day OF
the enactment. sold at 40 per cent within
three years and At $50 per cent Subsequent
ly. Instead OF defeating the resumption OF
specie payments on Jan. l of the fol
owing year. the 1850. 90 silver dollars
which were coined in 1878 and circulated
by means Of the silver c~ertifcstes, reduced
the demand NJ n the government for gold.
Hence III" threat of disaster now Is with
out historic foundation.
This j. what will follow the reopening
of our mintS 10 silver. The gold already in
the treasury will remain there. If common
sense dictates the treasury management;
that Is. If the treasurer exercises the option
to redeem United States notes in silver. \
premium on gold will not occasion a con-
traction Of the currency, bank boards Of gold
continuing 10 serve As a portion of bank
reserves against bank liabilities. \ prem
ium on gold will tend to increase our eX-
ports by causing a higher rate of foreign
exchange: that iS 10 say, by yielding a
larger net. return IN dollars on the sale Of
bills of exchange dawn against goods eX-
ported. \ premium will tend to diminish
our imports by increasing the cost of bills
of exchange with which to pay for goods
imported. The tendency Of increasing our
exports and decreasing our imports Will be
to set our spindleS running. swell the num-
Der OF paid operatives, increase their wages.
thereby al linz 10 the number and capacity
Of consumers and thus enlarge our market
for all home products and manufactures,
with prosperity in general as the result as
sured. Tie tendency Of Increasing o1r
exports AID l'cIedSlng orr lmICr.s VII 1e
to estate 3 y~rd lit 'r'n. Q II Trade FOR
LIZ S- - -a,~Me of
trade iHt..iis t.at Europe has ,e,"lne our
debtor, and must settle with w. In money.
Eurv2e's silver money is overvalued in her
gold, compared with ours, by from 3 to
cents on he dollar. The European mcr-
chant or banker will therefore make his
trade settlements with us in gold moro
probably by from 3 10 : per cent than in
his silver. With the instant that European
trade settlements with the United States
are made in gold. parity for our gold and
silver money is established in the markets
of the world. Then with the 5Tl.25 grains
Of pure silver in our silver dollar ana the
23.22 grains of gold in our gold dollar be-
comes of exactly equai worth as bullion ia
New York"
TO Confer With Pops.
A motion was made that a special COM
nlttee consisting of one delegate from each
delegation be appointed to confer with n
like committee of the Populists for the
purpose of settling the differences between
the two factions. Half a dozen men at
once began to debate the question and
much confusion prevailed. NJ. l.. Olmsted
! n ~ krAHn gnfl he rwn, IN D.--l.a GOD 49,
populists were ready TO meet the silver
men half way. The object was to unite
the free silver forces. Half a dozen other
delegates spoke in favor of the committee.
An amendment was adopted directing the
committee TO notify the Populists of their
appointment and requesting them to APP
point a similar committee.
Mr.. Turner of Kansas ATTEMPTED to
talk against the motion, but there were
bowls of sit down. and calls for the
question. Twenty men got up and attempt
ed to address the chair. A point of order
was raised that Mr.. Turner had already
spoken twice and t.e chair ruled that Tur-
ner must cease.
Gen. Warner was called for and replied
that he Odd not oppose the appointment
of a committee 10 confer with the Populists,
but he thought ii would be wise TO have
a smaller to see il the Populists
would agree TO select a similar committee.
Mr.. Foster OF Missouri said he had been
appointed oae of a committee " the ma
tiJnal committee 10 confer v it'll the ropullst
convention and il had been decided that 8
more representative committee be appoint.
ed. 1t had been ascertained that the Popu.
lists were aHNluGs - confer.
The general trend Of all the speeches
was that the great object was TO secure
an endorsement OF Bryan and Sewall for
president and vice president. At every
mention OF the Democratic nominees the
DELEGATES checred.
The motion was at length carried by 0
viva Voce vote. The roll Of states was
theI called for the names of the men select