The Providence news. (Providence [R.I.]) 1891-1906, 1900-01-04

silver coins with the free coinage Of
both metals at a fixed ratio this per-
manence can onlv be secured by con-
current action OF all the leading ma
tions.
DEMOCRATIC PURPOSES.
Mr. Aldrich said that the Democrats
while masquerading as the friends OF
bimetallism have for the past four
years been engaged in crusade in be-
half of the single standard of silver in
serious attempt to place the money
and business of the country upon a sill
yer basis that the assertion that free
and unlimited coinage of gold and sil-
yer at the historical ratio of 10 to /.
without waiting for the consent OF any
other nation on earth Will be the SUI
preme issue in 1909 as IL was In 1896,
has not been contradicted.
mo sane man." said the senator.
"can be found outside OF the ranks OF
the small band Of bold, able and ag-
gressive leaders who at present domi-
natesthe policy OF the Democratic party
who believes -or an instant that the
opening OF our mints 20 the free COIN
age Of silver at the ratio of is TO will
raise the value OF silver bull
lion from it's current commercial
bullion from it's current commercial
price 10 it's mint price measured with
feidllOn TO BOlQ. INT OcIuOtIdllC dd-
voOates OF free coinage are not In any
sense bimetallist. but silver monometal-
lists of the most pronounced type.
THE GOLD RESERVE.
THE second section provides for q
reserve fund OF $3.50. 900 900 in gold TO
sour the prompt and certain redemp-
on Of outstanding United States notes
and treasury notes. That this amount
OF $3.50 900. 600 can be held without EN-
barassment to the treasury will be evil
dent when we consider that the total
amount of gold in the treasury on the
first OF November, 1899. and exclusive
OF the amount held TO pay gold certifi-
Gates was 1852 900 600. and the availa-
bles cash balance. including the gold
reserve, was s2s9. O00. 900.
"In case the gold in the fund shall
fall to 800 000. 900 then Il becomes the
duty OF the secretary Of treasury 20
sell United States bonds the proceeds
ITO restore the fund 70 the maximum
amount. by paying the goli so obtained
into the general fund OF the treasur',
and then exchanging for Il an equal
amount OF notes which have been re-
deemed from the reserve fund. The
committee having in view the rapid In
crease in the gold production OF the
world and the equally rapid Increase In
the available stock OF gold in this coun-
try are OF the opinion that ~ viii not
be at any time recesea~'- 80 &C." bonds
under the provision OF this section
TO MAINTAIN PARITY.
'1n considering the adequacy ana
use Of the gold reserve we are bound ~
inquire into the ability of the treasury
10 maintain an equality of value be-
tween the silver dollar and silver cer-
tificate and the gold dollar withOu. pro-
vision for direct eNchanRea hirtv.
Experience OF other countries not-
ablys France and Germany clenr'v
prove that II is possible 10 keen IN cirr'i
lation at a pariiy of value with cnt
a large but lmlted amount W iegsi
tender silver or notes based upon sf'r,
silver without any provision for COM
pursory redemption In gold.
THE amount Of silver certificates N
circulation on tho frs, of December,
1899 was 1894 2s2 500 and ~ STANDARD
silver dollars s1S 232. .i5l. u total of St77
52j.254 This amount Will be gradualiv
Increased by the silver coinase which
will take nlacc uraer the provision -
the act of June 70. iSss Both silver
Continued on Fags TwJ)