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measures advocated by the silver men provide for the instantaneous conversion of silver bullion into legal dollars by purchase by the Government at our coining rate. Free silver coinage as proposed, therefore, means this: that the United States shall pay $1.2929 an ounce (now worth 90 cents an ounce) for all the silver which may be brought to our mints, in legal-tender money, interconvertible under existing law with gold at par.

The important changes which have taken place in respect to silver since the United States adopted the gold standard in 1873 may be enumerated as follows: 1. Depreciation in value, as measured by gold, over 30 per cent.-from $1.33 an ounce in 1873 to 90 cents in 1892. 2. European nations have for fourteen years discontinued the full legal-tender silver money. 3. The exchanges of the world are to-day settled everywhere in gold, or, if in silver, at its gold value. 4. The product of silver has considerably more than doubled-63,000,000 ounces in 1873, against 140,000,000 in 1891.

Such being the existing conditions, one result of the proposed legislation would be that we should be flooded with the world's silver. That the annual product of domestic as well as foreign silver would find its way to our open mints so long as we could maintain the price in gold, is very generally conceded.

How about foreign silver coins? The stock of silver in the principal countries of the world, exclusive of the United States, approximates $3,397,000,000, of which $2,930,000,000 are full legal-tender coin, and $467,000,000 subsidiary or limited-tender coin. The stock of full legal-tender silver coins in the principal countries of Europe is about $1,100,000,000, of which some $430,000,000 are stored in the vaults of five banking-houses. It is believed that if a free silver act should be passed, most of this stock of silver would be deposited at our mints for payment in legal-tender money interconvertible with gold.

There is not a statesman or financier in Europe, even the most ardent champion of bimetallism, who believes that free coinage of silver by the United States would permanently raise the price of that metal, and keep it at $1.2929 per fine ounce in gold. The general belief is that it would have that effect only for a short time, after which the price of silver, unless other commercial nations opened their mints to the free coinage of silver (a thing in the highest degree improbable), would steadily decline.

Again, it is well known that European countries are strongly tending toward the gold standard. Practically, all Europe is on the gold standard to-day. They are seeking gold with avidity and holding it with undisguised tenacity. The silver coins of the Latin Union have been kept in domestic circulation alongside of gold only by absolute discontinuance of silver coinage, and they cut no figure in international exchange. The effort of the United States to increase the use of silver for money purposes, not here alone but everywhere, would be defeated by a free-coinage law here, because, while it would undoubtedly increase the use of silver in this country, it would reduce it elsewhere. Further, by enabling foreign governments to melt down their silver coins and sell them for gold at our coining rate, it would destroy the interest of such countries in silver as a money metal. While temporarily raising the price of silver, the ultimate effect would be to raise the price of gold the world over, by enabling countries now having the double standard, or the silver standard, to reach the goal of all Europe, the gold standard, thus creating an increase demand for gold, and causing it to appreciate in value, aggravating, in fact, the very evil complained of the dearness of gold. At the same time it would necessarily lower the price of silver by enabling Europe (not to speak of South America and other

countries) to throw vast quantities of it on the American market.

If we should exchange our stock of gold for a stock of siiver, which would most surely and swiftly be the result were it not rendered impossible by the withdrawal of gold from the treasury and from circulation, what would be our gain? Under free silver coinage here, one of two things will most certainly occur: either gold will advance to a premium and be withdrawn from circulation, or it will go abroad to pay for silver shipped here for sale. In either event we shall reach a silver basis.

FREE COINAGE AND AN ELASTIC CURRENCY.

THE HON. R. P. BLAND:

I shall assume it to be generally admitted that all our credit money should be tied to coin in such manner as to insure the convertibility of the note. I shall also assume that to do this it is not absolutely necessary to keep a coin reserve equal to the note constantly on hand. Yet, so far as Congress is concerned, and the money issued by the Federal Government is contemplated in my proposition, a dollar of coin or bullion is required for every note issued, the only exception being $346,000,000 in greenbacks having only $100,000,000 in coin reserve. The metals alone never have been, and in all probability never will be, sufficient to supply our people with a sufficient volume of money. Yet when we go beyond the limit of coin, or paper based upon coin, dollar for dollar, we enter the realm of good faith, the domain of credit and confidence. We are in the latter condition to-day. We always have been, and probably always will be, to a greater or less extent, dependent on good faith and confidence for the stability of our financial system.

A report issued by authority of the Secretary of the Treasury on the first day of last July, showed the following:

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It will not be contended that a reserve of only $176,450,378 of gold is a safe reserve for $976,019,784 credit money. Yet, if we are to believe the contention of the gold party, all this vast superstructure of credit rests upon gold only. If this be true, and we continue to add fifty-four millions annually in the shape of bullion notes redeemable in gold, one of two things will happen-either gold will slip from under this weight and go at one bound to a premium, or the contention of the 'fiat money advocate will be proven, that is, that no coin reserve is necessary for our paper. But the truth is, on this same date $347.976,227 in silver were in the treasury, constituting a legal redemption fund for this pile of credit. This reserve sustains or aids gold in sustaining our credit. If the fact that our reserve is principally silver puts us on the silver basis, then we admit all that is alleged against free coinage, namely, that our coins will consist principally of silver, and in that sense we shall be just as we now are, on a silver basis. But who is hurt? Every dollar of our money is as good as every other dollar.

But it is urged that to do this we must impart to all the world's silver a greater value than it now possesses. This is not true, and as a proof of the fallacy of this statement the fact is cited that the immense stock of coined silver in the world is now at par with gold, most of it at greater value than our mints give to it as compared with gold. The ratio of the Old World

being 151⁄2 to I against ours of 16 to 1 shows that silver is worth more when it is there than here, and that to send it here for coinage would entail a loss of three cents on every dollar brought to our mints. It is not denied, however, that the claim put forth and the effort made to induce the public to believe that all our credit money rests solely on gold for its ultimate redemption, and the published statements from time to time that, if necessary, the Secretary of the Treasury will again sell bonds for gold to procure a sufficiency to preserve and maintain a single gold redemption, has had the effect of very greatly enhancing the value of gold.

The purchase by the Government of 4,500,000 ounces of silver every month has not tended to bring the two metals nearer together, for the very plain reason that the notes issued in payment for this bullion are treated by law and the Treasury Department as gold notes. The coinage of silver dollars is suspended. This new strain put upon gold redemption, aggregating about $54,000,000 annually, has caused a semi-panic and sent gold up as compared to silver. This result was predicted by the writer in a report protesting against the passage of the Bullion Bill in the last Congress. (See Report of House of Reps., No. 1086, Fifty-first Congress, 1st session, page 8.)

Should the Secretary attempt to sell bonds to procure more gold, he would find that he had precipitated a very general feeling of panic, if not the real thing itself. The gold cannot be had. It is nowhere to be found. No country can spare it without financial disaster. The gold craze has reached the last extremity, Another strain and the final collapse of this conspiracy will come. The blanket is too short and too narrow; it will not go round. Free coinage will give an increased use for silver and a proportionate decreased demand for gold. This will cause the one perceptibly to rise and the other to fall, until the parity is practically restored.

A

PARLIAMENTARY GOVERNMENT.

DR. CESARE LOMBROSO.

La Nouvelle Revue, Paris, March 1. MONG the occasional factors of political crimes, there is not one more powerful than that epidemic frenzy which is begot solely by the assemblage of a large number of individuals. Often, in truth, riots or other disturbances are due entirely to the fact of a great many people having met at one place, even accidentally as at a festival, a fair, or the like, especially in summer, but above all when the assemblage has been brought together by a common political notice. Then, as Pietrazzani* remarks, the words of a superior man, spread among an excitable multitude, eager for novelty, full of imagination, and rich in faith, in ignorance, and in heroism, overawe irresistibly the assembled people like a suggestion from on high. There is produced what Puglieset calls a moral intoxication, during which, following the example of the leaders, joint cries are uttered spontaneously; the contact, the courage derived from unity of feeling, destroy the feeling of individual conscience, and hurry the crowd into committing acts, which a single individual among them would have had neither the audacity to do nor even the idea of committing.

Manzoni depicts admirably this passionate current which is formed so easily among crowds, and which can draw the calmest into excesses. It is at these moments, Sighele ‡ well says, when the most brutal and ferocious passions take a new flight, that we see the savage reappear all at once in civilized man; and then, even against our will, we turn, for an explanation of this strange phenomenon, to the hypothesis-put forward by Barbaste and by Lauvergne-of a sudden atavic resurrection of that primordial homicidal instinct which lurks like fire * La suggestione nella veglia e nello stato ipnotico. Reggio. 1888. Del delitto collettivo.

La folle delinquente, Bocca-Verino. 1871.

under ashes and needs but a breath of wind to burst into flame.

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In still another way Sighele accounts for the phenomenon I am discussing. A crowd is a medium in which the microbe of evil is very easily developed, and in which the microbe of good nearly always dies, not finding therein the necessary conditions of life."

The elements which constitute a crowd are diverse: "beside men accessible to pity are indifferent and cruel persons; beside honest people are vagabonds and criminals." In a multitude, the good qualities of individuals, instead of being added together, are eliminated.

They are eliminated, in the first place, by a necessity which is natural, and, I might say, arithmetical. Just as the average of a great number of figures evidently cannot be equal to the largest figures, so an assemblage of men cannot reflect in its manifestations the highest qualities which are found in some of these men, but will reflect only the average qualities which belong to all, or, at least, to the great majority of the individuals composing the assembly.

An assembly of individuals may, then, give a result quite opposite to that which each one of the assemblage would have brought about.

It is a phenomenon identical with that which is observed in innumerable committees-artistic, scientific, or industrialwhich are one of the plagues of our administrative organization. How, it is asked, could men like those, who form a certain committee, reach such a conclusion? How can ten or twenty artists, ten or twenty savants united, give a verdict which is conformable neither to the principles of art nor to those of science?

The why up to a very recent time, was not explained, but the fact was observed by everybody.

Not only juries and committees, but sometimes even political assemblies, do things which are in manifest and absolute opposition to the individual opinions and tendencies of the larger part of the individuals composing these assemblies.

An ancient proverb says: Senatores boni viri, senatus autem mala bestia; and the people repeat and confirm this observation when, speaking of certain bodies, they say that each individual, taken by himself, is an honest man, but, taken together, they are vagabonds.

The reasons for this are numerous, because the causes of every phenomenon are always manifold; but, in the subject under discussion, they can be reduced substantially to two: that these assemblages are not homogeneous and are inorganic. Chance groupings of individuals in a jury, a theatre, or a crowd, cannot reproduce in their manifestations the characters of the unities which compose those groupings, any more than a confused and disordered heap of bricks can reproduce the rectangular form of the brick. In the latter case, in order to have a wall, you must have a stable union and the regular disposition of all the bricks. In the case of the jury or the crowd, you must likewise have an aggregate which sums up the qualities of the individuals. These must be connected with each other by permanent and organic relations, such as those, for example, which connect a family or a certain social class.

This study of the criminal crowd brings us to another conclusion, which is, perhaps, still more important. We have seen that it is not the assemblage of a large number of persons which produces greater wisdom and new knowledge; quite the contrary. The excellence of the counsels is in inverse ratio to the number of the counsellors. The fact ought to destroy the false legend begotten in a parliamentary atmosphere-a legend which is constantly tending to increase the number of these who deliberate on the affairs of the State, thus dividing responsibility, while it is believed to be condensed and strengthened. In fact, it may be said of all higher councils, of all commissions chosen, not by a single man who

would be responsible for them, but by popular vote, that the power is placed in irresponsible hands.

From this results a necessity that the most important posts be individualized," and not "parliamentarized"; that the appointments to these be made by a single individual and never by deliberative bodies, be they ever so respectable, the votes of academies and committees uniting nearly always on the most incapable person. In Italy, the appointments, made by the votes of professors, are very often far from being as good as those which are made by individual ministers; and yet the professors constitute certainly the most enlightened electoral body that Italy possesses.

Von Moltke observed with reason that a very numerous parliamentary body drags a country into war much more easily than a sovereign or a minister who has all the responsibility; the deputy, who deliberates, is but one of five hundred or eight hundred, and he accepts war with a light heart.

SPENDING PUBLIC MONEY.

THE HON. T. B. REED, AND THE HON. W. S. HOLMAN, CHAIRMAN OF THE COMMITTEE ON APPROPRIATIONS. North American Review, New York, March.

W

I. APPROPRIATIONS FOR THE NATION.

THE HON. T. B. REED:

HEN the charge was made during the campaign of 1891 that the Fifty-first Congress was a Billion-Doiiar Congress, the complete reply, the best in kind ever evoked, was that this is a Billion-Dollar Country. The Congress voted a billion of dollars because the citizens of this country, who are the rulers of it, demanded it-demanded it by reason of the country's growth and by reason of certain issues which had been fought out, settled, and determined by them.

It is singular how much more effective an epithet is than an argument. Throughout the country the Democracy have girded at the last Congress because it wasted money, and yet no Democratic Convention has ventured anywhere to specify a single item where money was wasted or the sin of extravagance committed. There was no charge of robbery, of undue influence, or bad conduct; only one loud outcry about the Billion Congress. Appropriatlon bills are not passed on party lines; and yet, to hear the loud talk made on the stump, one would hardly imagine that some of the loudest-voiced economists of to-day had tried to increase the billion at least $100,000,000 more.

It has probably escaped the attention of the Country that Judge Holman, the new Chairman of Appropriations, and rigid economist, voted for the service-pension amendment, which Mr. Springer, the new Chairman of Ways and Means, advocated, explaining that the cost would be but $144,000,000 per annum. If you look over the list of those who voted for this increase over and above what even a Billion Congress would do, you will find the name not only of Judge Holman, of economists the chiefest among ten thousand, but of the cheerful Governor of New York, a very possible Democratic Presidential candidate.

Now the Democrats are looking about in consternation to find some way out of paying the bills of "a Billion-Dollar Country." As they see the growing land and its growing wants, they think that some special machinery must be adopted to prevent their vast majority, every one of them an economical Democrat, from doing exactly what the wicked Republicans have done. Hence they have already had careful tables prepared, which show that when the Appropriations Committee was forced to let two bills pass into the hands of other committees, our expenses rose instantly by the astounding sum of one cent for each and every citizen; which ought clearly to have shown to every discerning, economical patriot that that way danger lay. Sad to say, no heed was paid to the warning, and in time the Committee on Appropriations had the

Consular and Diplomatic Bill taken away, and also the Naval Bill, the Army Bill, including the Academy Bill, the Indian Appropriation Bill, and the Post-office Bill. A tabular statement and due calculation show that since this was done there has been an increase in appropriation of forty-eight cents per capita, without including pensions.

It is needless to say that this calculation was put forth by the Committee on Appropriations, which desired to regain its lost power-a power which used to be almost absolute, not only over the expenditures of the Government, but over almost everything else. Under the régime which it is now sought to restore, the House under Democratic management repeatedly refused to put into its bills appropriations sufficient to carry on the Government. The Senate was then obliged to insert the necessary items, and endure in the next campaign, the charge of extravagance because the figures of a Democratic House were increased. This was kept up even after the Democrats had possession of the Executive Department, and the conduct of the House called forth a most vigorous rebuke from Senator Beck, who was too honest a man to aid this economic fraud.

To say that we ought at all times to expend the same amount per head is to ignore all increase of wealth and all growth in the wants of the people. Whatever the Government expends is largely for the whole people, and the facts show that a gradual increase in money per head is spent throughout the world for the general good.

In 1860, New York State spent $1.70 per capita, and in 1889, $3.00 per capita. Lest it should be supposed that this is also a Republican extravagance, I add that in New York City, where the Democrotic majority is colossal, and where true economy must reign, in 1860, $4,00 per capita was the amount expended; in 1890, $20, economically administered, was spent for the good of each citizen.

These examples-and I presume any State in the Union can produce parallel figures-show that the increase of expenditures of the United States, large as they are, are in no way out of proportion to the increase in those States and cities enjoying true Democratic economy.

When you examine the figures of the last two Houses-one Democratic and the other Republican-and charge off to each the rebates (appropriations for deficiencies) which belong to each, you will find that the last Democratic House voted the expenditure of $838,017,972, just $85,978.813 more than its predecessor, also Democratic; that the last Republican House voted the expenditure of $948,800,734, an increase of $110,782,762 over the last Democratic House. The net increase, for which it had no Democratic precedent, was, therefore, $24,703,949. Inasmuch as the country was two years older and two years bigger, this would not be a bad showing on general principles; but the fact that the Fifty-first Congress appropriated $288,000,000 for pensions, against $177,000,000 appropriated by its predecessor, accounts for every cent of increase over the votes of the last Democratic House; and if any blame is to be attributed to us for giving this large sum, it cannot be made by the party which has just made Judge Holman Chairman of Appropriations, while on the records rests the proof that this chosen representative of retrenchment voted to double the very increase about which there has been so much outcry.

II.-ECONOMY AND THE DEMOCRACY.

THE HON, W. S. HOLMAN :

The growth of public expenditure during the last few years has arrested the attention of intelligent men in all sections of the Union.

The state of the Republic in 1860, seventy-three years after the Federal Government was formed, expressed the masterly statesmanship that from the beginning had conducted its affairs. Taxation was unfelt, the annual expenditures reach

ing less than sixty-two millions of dollars; an increase, computed from the beginning, of less than a million dollars a year, and embracing the long period of our exposure to the hostility of foreign Powers.

All men know that excessive revenues in the treasury, which, drawn from the people, scrimp every fireside of labor, mean lavish and corrupt expenditures, excessive salaries, unnecessary employments, subsidies, bounties, and contracts which crystallize into great estates. All statesmen have known that such expenditures cannot be indulged in by a republic without greatly imperiling its free institutions.

During the late war, of course, the conditions were for a time completely changed. There is no economy during a conflict of arms. When the war terminated, it was practically impossible in matters of expenditure to reestablish the Government at once on the basis of a frugal civil service; yet at an early moment progress towards this end was visible. The old leaders of the Republican party still in some degree controlled its movements. At the end of the war the old views of the value and necessity of economy in Government rapidly revived, and with manifest determination on the part of the people that economy should be restored.

In the Forty-third Congress, 1875-76, the appropriations annual and permanent, were brought down to a fairly reasonable basis. The current annual appropriations for the two sessions of that Congress were $362,851,212.06, while the permanent appropriations were $290,943,779.15; in all $65 3.794991.21.

Considering the magnitude of the permanent appropriations, which embraced interest on public debt, sinking-fund, and the like, the result was reasonably satisfactory, and had it not been for the extravagance displayed by the Republican party in the Forty-second Congress, second session, it is probable that the result of the congressional elections of 1874 would have been a Republican triumph.

In the closing hours of the Forty-second Congress, and after the members were elected to the House of the Forty-third Congress, there was an unusual display of extravagance in salaries, including those of members of Congress. This the people promptly rebuked in the election of Representatives to the Forty-fourth Congress, in 1874.

The Democratic party, coming into power in the Fortyfourth Congress, reduced the annual appropriations to $299.145,788.88. The permanent appropriations had in the meantime increased, and yet the entire appropriations, annual and permanent, were but $595,579,832.28-a reduction of $58,197,158.93, as compared with the appropriations of the preceding Congress. This result was certainly satisfactory, for at that period the great body of the unfunded war debt was settled.

In the Forty-fifth and Forty-sixth Congresses there was a material increase in the appropriations. In the Forty-seventh Congress (1883-84) the permanent and annual appropriations had reached $777.435.948.54. During this Congress both branches and the Executive were under Republican control; but in the Forty-eighth (1885-86), the Democrats controlling the House, the appropriations, annual and permanent, were reduced to $665,269,402. 33, about the same as those made by the Forty-third Congress; but in the meantime the permanent appropriations had been materially decreased.

In the Forty-ninth Congress (1887-88) the annual appropriations were very materially increased, and with the permanent appropriations amounted to $746,342,495.51.

In the Fiftieth Congress (1889-90) they had reached the indefensible sum of $817,963,859.80. This growth of expenditure no one even attempted to defend. The vigilance of the people was again expressed. The Democrats lost the House, and the Republicans resumed control in every branch of the Government.

The rules adopted at the opening of the Fifty-first Congress created widespread apprehension among men who understood

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