New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-03-19

| One word of the many that rapidly fell
From the eager lips Of my lover
| Sha never reveal what fairy like spell,
| They w0ve round about us that nght in the de
la the path through the dew laden clover;
| Nor echo the whisp-rs That made my 1t ART swell
As they tel from thy lips Of my lover.
| -Nrw York Evening Post.
| The silver Glut.
Dispatches from the East indicate til
possibility of the fractional currency ther
circulated giving way to silver coin, ID
Linderman, the director of the Mint, favOl
ing this action a furnishing work fer III
the mints. A Chronicle reporter yesterda
gathered the opinions OF q few, suppose
to be cOnyersant with the subject, on tb
| probable effect upon the interests OF tn
Pacific coast. William T. Coleman wa
first interviewed. He said: IL still ad
here to the position that took when las
this subiect-thst all fractional currency
| and all greenbacks below the value of 81
should be replaced with silver coin as fas
| as it is possible to produce the coin for tina
purpose, and the government owes j
to its citizens. to justice, to hon
esty. to common deceney, to raise tn,
value of her silver coin, making it nearer tn,
value of the standard gold dollar, aud max,
no profit OF the coinage of it. To me il
looks very small in great government lik,
ours to cheat her citizens and impose upor
them q debased coinage. Let it make the per
centage on the coin just enough t. cover BARI
expense and make 1t q legal tender in ssmi
Of 800 When the standard is so rsised
can not see how California can ever bt
made Q greenbsck State. The customs o.
Q century are OftentiMes stronger thar
laws, anu California, even with the Legal
tender greenback enactment clause. hat
held her own as q gold Safe tor the last
fifteen years ana l have no fears or tn.
future. The question, as l said before, il
ne Of supply and demand, and the prime!
pal thing is 70 tiLd an outlet for our eurpluf
silver, even as We must find q marke,
for our surplus wheat. The trade
dollar is q handsome and convenient
coin, and will, from its instrinsic value
az bullion, become favorite after while
unless government coins q national dollar
nearer the value Of gold. l have no fears
if the step proposed is carried cut, that II
will work any harm to California. It will
rather ben. fit her"
Mr.. +. +. Lowe, manager of the Anglo
American Bank, said: al the Sl2, 600 900 OF
silver which the government has in itf
vaults should be used to redeem fractions
rency left to answer all the needs Of the
Eae, ior change, and the result would bt
that the silver would all teat this way, and
California would be flooded with silver coir
Verse than che is now, SO that expect te
See silver decline until it reaches about two
aud one half per cent abnve the price OF
green acks, which will cover the cost 0!
get ing iG here, freight. insurance, etc
there seems to be q panic in the silver
Mai ket all over the world. Bullion is fall.
ing Ill Tendon at about the rate OF one Der
To- When Eno nd or h1iahol T.,
ielative value Of gold and silver currency
il liked that silver should be coined ut g.
peace per standard ounce. while the present
price q ,21s pence per ounce shows that sill
Yer las declined 9l4 pence, or nentteen per
cent since England fixed the coinage value.
But az Great Britain controls absolutely it's
silver coinage, and only coins such an
amount az is required to make change for
the fractional parts Of the pound sterling,
merchandise. Legislation in this mat
ter IS folly. The government should
not issue silver until prepared to re-
sumo with gold. If the government only
had che money to spare it might buy silver
and lay it up against the day Of resumption.
Silver has declined from lbs to ll2l4 since
the government commenced buying it,
The attempt to maks it legal tender for
larger sumo than a. present is decided
mistake" w S. Horkins, of the firm of
Haley, Hopkins & Co., brokers, thought
that the moment The government stopped
allowing individua the privilege OF buy-
ing bullion ami coming trade dollars. the
d 5srenee II silver viii cease; it will then
COME up to about two per cent discount.
Stop the coming of trade dollars on moi.
vidHll account, and iO thirty days the;
will 81 be lou yhf up for expectation. aud
subjdiary silver coins will g. up to two per
cent. To use the silver for retiripg the
fractional currency would cause u drain
here sad advance the price. James &.
Floods 'opin ion, rs given N the Chronicle u
lew weeks ago. hsts it exactly: 1T ia q
great scare IN The market. The amount IT
Dresentin the banks here tas nothing to do
With the question; they can not lot 1t out Or
ell it; it lies subject to DRAFT from the
country banks"
l.. A Garnet. whose views the Chronicle
ave in eIsssasO few weeks ago. did not
go as there was much in the present news
o talk about. Most Of the ideas ad-
a1ced by difer. Mt ones in the papers are
rude. When Senator Jones or some one
lee shall offer any defnlte proposition for
be cure Of the psewnt evils; when there lie
Dme definite q lesDtOn before the people.
rnmart, then it will be time enough to |
entilats it; but theRrixinz and present ting |
ameaar t" nothing. II will be |
mply impossible 70 replace greenbacks aud |
,rrency with silver With bullion 52le
,nce per standard ounce q silver dollar is
Orth SO SS, while with gold at lI4l4 dol
r greenbaGA is worth 81 SO. difference Ut
'arly five per Gems. l. the government
sn should issue Ailyer to replace the |
eenback it ~ould pay to take green backs
q buy gold, and then send the gold to
nrape as merchandise AHd sell ii for silver
buy greenbaOks with again, and to keep
g wsleel turning. and soon our country
uuld be flooded with silver and every dol
7 of gold drawn from us. If the question
let s.ene it viii a9on regulate itself.
Daniel Mayer, tbs banker. on Pine street, |
ID that his brothI j. ad but lately returned
OH the East. and As reported that there
hs not bai! the lnt6.'f 1T taken there in the |
lesGon THAI We take kere or that has been
prese nted to Us here. He did not think it
sht Ia The government TO redeem the cur
icy IL slivec, Ter the former was issued |
the government with promise OF re-
mptIoD nc sone future Gav, and the
demp,i"G of it with siiser is not keeping
at PR mise. de did not beMeve the trade
liar had anything 10 do vita the trouble.
wanted cone Oh Wednesday for expor.
[ion 10 China and could not Fad $4,000 in
Y one place.
Moses Heller. of the firm Of NJ. Heller e.
others, merchants, va Sansum- sueet.
,ught that Q great mistake had been |
de in not making Calitoruia q greenback
.te when the others were, bUt tho evil il | {
4 We can. He thought the raisipg Of The
0fe hair i0e hSf ~ / T.