The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1899-07-08
A HOPELESS STRUGGLE.
steadily since the First Free
Coinage Dill.

On November 5, 1877, in the first of
President Hayes two extra sessions of
congress, Representative Richard l..
Bland moved TO suspend the rules and
pass bill directing the coinage of SSH
yer dollars Of the weight of 4l2h grains
of standard silver, as provided in the act
of January IS, 1887" the coins TO be
legal tender, a. their nominal value, for
all debts and dues public and private.
except where otherwise provided by
contract With this motion Mr.. Bland
became national character, and the
silver question became an absorbing
issue in American politics.
This was the original Bland bill. IL
provided for the unrestricted coinage of
silver dollars, then worth seven or eight
cents less in intrinsic value, as Indicated
by the market price of silver bullion,
than gold dollars. The house in which
that bill was introduced had demo-
crntic majority OF 20. Samuel j. RAN
dali was speaker. BANDS motion was
agreed TO by vote of 164 (07 democrats
and 67 republicans) 10 "a CA republic
ans and ten democrats). AS reported
in the senate by William ID. Allison,
from the committee on finance, the bill
was changed from the free coinage
form to a limited coinage measure. 1t
provided that not less than 100000
nor more than s400O,00O of silver bull
lion should be bought each month and
coined into dollars OF the weight pre-
scribed in the house bin, the profit from
the coinage, however, 10 60 into the
treasury, and not, as i'm the house bill,
into the pockets of the owners of the
silver bullion. The bill passed the sem
ate in this shape by a vote Of As CA re-
publicans, % democrats and one indie
pendent) TO 81 GA republicans and
seven democrats) was accepted by the
house, was vetoed by President Hayes
on February %. 1878, in one of the
strongest state papers ever penned by
an occupant Of the white house, but was
passed over the veto on the same day.
Silverism on the day when the modi-
fled Bland act was passed over the veto
OF President Hayes touched its high
water mark. At that time the silver
bullion i'm the dollar was worth % cents.
There was only eight cents of fat In
the silver dollar. Many republicans
voted for the Bland bill at that time be-
cause they supposed that the creation
of an enlarged market for the bullion
by making the government purchaser
would send it's price up TO point at
! which the silver dollar would be worth
100 cents in gold. They quickly found
themselves mistaken, and then they
abandoned the silver side. The repub-
leans did, indeed, pass the ballion de-
posit act of July IL, 1890, called the
Sherman law, but this was far safer
measure than the Bland act which il
displaced, and ii was enacted TO head
off the passage of free silver measure.
Three years and third afterward, find
ing the accumulations of silver cur
rency of the various sorts a menace TO
the financial stability of the country,
the republicans helped To repeal the act.
and thus stopped silver absorption in
every shape by the government. The
Bland faction continued their fight for
free silver, however. and at the Chicago
convention of 1896 they secured control
of the democracy, and. for the first time
i'm n presidential canvass, the contest
was specifically between the gold and
the silver standards, the gold standard
gaining n sweeping victory. IL is now
II years since Richard l.. Bland intro
duced his first free coinage bill. The
silver cause is to-day distinctiyely
weaker than IL was then, or than IL has
been at any time since then How long
is the deocrntic party going TO keep up
it's fight against fate ?-St. Louis Globe
] Democrat. {