| Show d THE OBJECTIONS To T Bill Bil to Exchange Gold for Silver Dollars IMPOSES I 1 M POS ES GR 0 Arll Elt lt 11 Create sin Ul i N of u ill I I Ii lift le Ito unit anti Washington Feb l cb 3 Congressman u or of tIne the on 01 coinage weights anil measures has prepared the tue report upon thu tine bill i direct In the time secretary of ot thu time treasury to ex cx exchange change gold old for tor legal tender tonder sliver silver dol dul lans lall when presented to the time treasury und and will WI file fe the timo same Ilme tomorrow The Time minority t says Wo We object to the time passage of ot this tubs I measure 1 It will wi impose Increased burdens upon the gold reserve of ot the To fo say gay that It I will Still wi not Is to deny den the recognized r principle of ot supply tumid nud ald demand To timid add the thu of sliver silver dollars which now net meet ns as re rl demotion dem lIon money lone for or the tIme silver certificates curll cates and lire are not a charge upon the gold Hold nc to the thu moneys which lute are In gold must greatly greot In Increase increase crease time the burdens uld nl upon the It I cannot be sate safe sae for tor a nation naton to increase its Is gold obligation without Increasing 2 It I will wi create erCa te a now end less Iti chain upon Uvon the tho gold of the treasury treasur Time The policy olcy of the tue government heretofore has hns been to diminish the tine obligations redeemable In sold gold gol und and thereby prevent runs upon time the treas treasury treasury ury ur The rue gold standard advocates have hlo unanimously contended that tho t the tile green backs 9 he be retired BO so 1 as ns to greCI re me hove leve the government of ot the tine necessity and cost coat ro t of at maintaining n a gold reserve They The contended that the time government should go 0 out of or the banking business l This Thil measure Is a reversal or of that poi pol Icy Ie H It I creates new nel obligations upon the tine It plunges the tine deeper Into tIme the banking business 3 Hecate e It facilitates time the ton of ot gold By hip tine the principal medium of ot exchange used by hy the tue people peole redeemable In gold It becomes much easier cas lei for the time exporter exhorter of ot gold gol to tl gather up UI UI payable In 11 that metal and nd present them th l to the tho treasury for fore or exchange e hane No other nation naton on 01 earth fn rn a me tIme te export 01 ot gold old The scram I Ihie ide hie Me of the time European Europen nations at the time pres Ires cat ent time line for tor gold cold rold demonstrate the Iho necessity for tor legislation lag ing InS Instead of ot encouraging the time exportation lion tion of that metal 4 4 Because He It will viii wil produce the des destruction of ot silver dollars and amid sliver silver tes certificates ns mis lS money mone When silver IIer dol dollars mrs lars mere are made payable In gold Jold they thy be he become come comine core simply promises to pay What government would maintain promises to pay stamped upon uon as n dear material ns os sliver silver when Ihen they could he le in upon paper at nt no appreciable cost Would It I not be ho foolish for tor the nation nallon to lo keep Invested In promises to pay tl the limo bullion bulion value alue of ot her nil II IIer ver er dollars when the rime could print them upon paper and save that tha amount Nearly every witness that lint testified be he before before fore tore the tine committee admitted that thul tho time measure would ultimately a n re retirement retirement of ot the silver elver dollars dolors and ond a n apale asale sale pale df dt r tho time same as bullion This Is a anew anew new policy In the treatment of tho ho precious Ir clous No nation nn on 01 time the face mice if ot time the globe dl Its Is sliver silver I I coins by making milking them beam simply Imph es to pay No government Its Ih sil silver sl ver wr In gold ROld Why Shy Wh should this nation which produces of ot nil all nl the tho the sliver of ot the tle lie world worM be b the tine very vcr first to I strike down ono one of ot its 1 own Important 1 5 lecause It will 11 depresS the time prices of nil all ni commodities and property Thu Timi measure will gold do o nil mull 11 time the work of ot basic money manu now done dohe by b both boll gold and Ild silver We Ve cannot thus thug the time burdens burden burd upon ulman gold guld without InK ing the demand for or the time fame Tho in II increase crease In the tIne worlds production of gold goldI If ii I nt to displace the thc th silver stocks In existence Statistics show that more rore than thun CO W 0 per imer er cent of ot time the tw gout jold product Is ID used In time thu arts alt or lost to commerce which leaves leaea only about a n year to supply the time needs need of otal mill all Christendom That Is lets less lel than 3 per r cent of ot the gold gol of or time the world miami and nd Is no miD more than thorn the tine legitimate leal mate mutu requirements of ot an nn commodity It y yG C G It I U is l Impossible for tor silver dollars to go to to a mu discount 11 long as 18 they tine are limited In number an as II now provided by bylaw law ILI and hence hunce there Is no 10 necessity for tr this tiuis legislation As IS It Is la Impossible for tor silver sll r dollars as now limited by law to depreciate in value why wim l should we 10 run runtIme the tIme hazard of making makinG Increased bur burdens burdens burdens dens upon ulon the gold cold Jold reserve of ot a new ner ne endless chain upon the time treas treasury ury Ut UJ of ot facilitating exports o ot of gold 1011 of or annihilating sliver silver and silver lver ertl as money mone and amid of producing an un era of ot failing fulling prices |
