Show THE SHIER SILVER the report or of the hi Maj majorita of the committee johnt to fret free Coit iaze reb feb 21 tho the adverse verse a report of 0 the majority of 0 tl he a house coinage committee oil 0 i the senate ire free e coinage bill bayr in part under t the h e pre present ts e u t act annually aro being added to the vol volume nine 0 ot I 1 the curri currency ney of he ilia coun country try in in the form of treasury notes for bullion purchased this largely exceeds the contraction in the way ot of retirement of bank notes and al od in ten years would at the same rate ri ate gradually add to the volume of the currency aboe above the tile amount of the bank notes should they be all retired the secretary secret try of the treasury states that the amount of surplus of silver in in the world above the amount used need in the arts and coinage in in all countries than the uni united to states was for 1888 ounces if it this estimate is correct under the present law there ia Is provision for using the wor ids surplus which is all that unlimited coinage could accomplish but the d demand e n d 0 of f t the h e p present r e s e n t t law a w d does 0 e 9 n not 0 t c call a in t at for 0 r a all 1 I 1 t the h e a silver 1 I 1 v e r a eur r p plas I 1 n s a and n d there are now bearing beating the market ounces which are sufficient bent to keep t the b e price of silver to its present selling figures whether these fifteen million ounces are likely to remain a threat to the market or ft hether whether the they y are used by designing persons as a temporary means to depress the price is a matter upon which intelligent persons who have appeared before the committee differ this can be determined by a continuance conti nuance of the t he present pres mt policy of buying no more t than ban the 4 1 ounces monthly provided provided G for by y the existing law W if the presence of ounces is 18 continued only tor for the purpose of effecting some change in the legislation it will soon be permitted tojo togo its way if on the other hand it icis is an actual excess over the demand it will be easy at any future time for congress to provide for ita its absorption I 1 into nto the volume of the currency treasury notes issued under the present law are legal tender thia this is is the highest function that could be given silver under free coinage BO so that under the tile existing law we have a provision tor for the use ot of all ir silver that would be brought to the mints minto under it free ee coinage a assuming that the w worlds surplus is la already stated the money issued has all the legal qualities and purchasing I 1 in g power poter of coined money an and d in addition is con confined fired practically to the american product so the united states is out of 0 all al tri danger ger BO so strenuously insisted upon a pon by many persons of a flooding of C four our market with the silver of the world the present law lav at the time of its passage was declared by many arden t supporters of free coinage to be satisfactory the conditions are ate substantially substantial lythe the same as then it if the present law when passed promised to all intents and purposes the use 0 of I 1 the american product and authorized zed ahe issue of money as good for all purposes as coined silver it is not now evident to the committee wherein it ha has failed in that promise nor wherein it is is likely in the future to accomplish that desired end |