The New York herald., 1876-03-12
THE SILVER GLUT.
,rInoss on sAx rnAScrsco CAPITALISTS.

OPINIONS on sAN FRANCISCO CAPITALISTS.
lFrom the san Franciseo Chronicie.l
Dispatches from the Indicate the possibility oi
the frscoual currcncy there circulated giving way 10
silver CON. Dr Lndcrmsn, the director VI the Mint,
iavornE lhia furnishing work for the mints
ChroAice reporter yesterday gathered the opinions
VI a lsw supposed 70 be with the Subject
proba0le eject upon The interests Of The Pacae
coast william I. Colcmaa drst interviewed lie
sald.I aslll adhere she position that took when
last called upon BY cAro.cs reporter upon THIS sub.
jcci-thai all the fractional currency, aud all green
backs below the value o e. should be replaced with
silver coin possible 10 produce The coin
for that purpose. aud the government owes ~ ito
citizens TO justice 10 honesty, 10 c9nmon deccney 20
raise he Of her SILVER coin, making nearer Ihs
value the standard gold dollar aud make no pron "
the coinage VI a. To nae
VARY SMALL
Ia great government Ike % cncst hor citizen
impose upon tncm dc'ased coinage. Let u maks
the percentage the Just enough 10 cover bare
expense aud make u legal tender in sums OF so
Mheu tho standard raised cannot how Call.
iorna can over uc made grrcnD-ck state. The eus.
toms of a country Oltcutnes stronger than laws,
aud California even With tue legal tender greenback
cnactmeut clause has hc Id her Own as gold state ioi
the last ntecn years have Tears the luture
The question as l said bc.ore, Is one VI supply and
demand and the principal Trims 70 nd an oase1 ioi
surplus silver, even as Nc nust hnd market los
our surplus wheat The trade dollar rs handsome
and convenient CON, anu viii, nom its intrinsic value
a
crnlnent coins national dollar nearer the value VI
god | have lcars. u The step proposed is carried
OUT that IL Viii work any
HAHN To CALIFORNIA.
IL will rather bcnent her MI b. ,. Lowe, man.
ager of tue Anglo American Bank, sald'-"h ihs
Sl2 UOU 600 hiver which goNerninent has Ia ia
vaults should be used ~ redeeln ifncional CURRENCY
there weud st be enough cunchcy eit 20 answer AL
the nouan OF the East change aud the rcsuit would
bo that the SILVER would all nOat THIS aud Caiior.
MIA would be Hooded ~ilh SILVER COIN worse .hsn se 4
now, that | expect 10 zoe silver decline 1niil II
I clena Aba al
rkiCK GNkkSnACkA
which will the getting here. freight IN
surance 8c There 20 b. panic ln the ssyci
market all the world bullion - iallng Ia Londot
about the rate Of one per cen. Gay Nhcn tnsAns
established the relative value OF god and silver eur
rcncy that slivcr should be coined al - penc
per standard ounce. whilc the prcseui pres u s1A
pence per saoss that silver has dccinedv pence.
or 10 lcr cent England nNcd abe coinage value
ut Britain controls absoiusiy 1s silver cOln-
age only such an amount a. - required 20
make change tor the fractional parts o. the pound s,sF
ling there surplus there 20 Oc treAsdaa norchAis
LEGISLATION ~ rus MArrrR - folLr
The government shOald nOt issue SILVER until pre-
pared 10 resume with gold u The govcrnmsnt onli
had the money 10 spare might Ouy silver And iay .
up against the DAY resumption. SILVER has declined
from lz5 mas s,nco the government commsucse
buylng a. The attempt make - legal TENDER iet
larger sums than at present s a decided nistske" w.
3 Hopkins, OF the nrm OF Haley h"pkius a ~, bfo.
kers thought thar N moment government stopped
allowing individuals The privilege OF Duytng balion
and coming trade dollars tue difference IA silver eni
cease; viii then come upto about two per eens Dc,
account, and IA thirty aays they will al 10
uP foE ENroRrAfoS,
and subsidiary silver Guns Will 20 40 10 Two per cent
To use the SILVER Tor retiring the fractional currney
would cause drain here ani advance the price Sass
I. Floods opinion. As SVEN 20 'ns tA,."'ee 49, ~.
market The amount at present ia NE banks here
has nothing do with the question; they esnnot et
II sell ~ u lies subject 10 dfAi IRON TIE e0aHf
banks"
l.. A. Garnet whose views tue Chroaicis - @-se
/ fensO IA few kn
the present talk about Most ~ The ideas ID
vanccd by Inherent ones IA tbo pApsrs afe cruda
When Senator Jones some one ciss A~aii oncr AM
definite proposition for tue cure Of Ia ifesent ess
when there some dcnnie question o,iofc 'he ieopr
/ some settled acton The part % the goYcfnmenA
then il Will be enough 10 fcntliaie o. but the"f1
ing aud presenting OF crude ideas amount 70 ho.nns
currency with SILVER Mith bullion 52is pence 80
standard silver dollar b. worth ~ ~ whh
with gold ia a, dollar grcenback D. worth SIS,
difference Of nearly i've per cent " tbe gofern,een
tnen shoulc issue siyer 90 replace TIE Efreloaek y
would pay 10 take greenbacks and buy Kpa and thes
send tue gold Europe merchandise and sell u 10
silver buy grceubacks with again. aud 20 Keep the
wheel turning aud soou our country would be Asodea
with silver aud every dollar of gold dr4Wn ifom "a.
III the question let alone u viii regulate iiset
TmK GOyEHNngxrs o0op FAirfi
Daniel Mayer, the banker. Pine etfcrt said that
his brother had but lately retained from ihe k~s aad
he reported that there hall tLe interest taken
there IN the question that We take hers 90 has
been represented 90 here He did not thiuK rgut
la the government 10 redeem thc currency ~ silver 80
the former was issued by the govornmeni ~nh
redemption IL with silver not keeping tbat pfoins~
lie dd believe the trade dollar had anything - %
with the trouble, he wanted some on "Wednesday ioi
cxpOrlaton 10 Cbina aud could not rnd ~ w ~ Anl
place.
cALyoRSIA's misTAgE
Moses Heller OF The OF N. Heller brofharA
merchants, ON sausomc street Nas neti alpfeacbel
by the reporter, Hc thought that grcAt mistake hsl
been made in not making California Kfcenoack staie
when the others were b1 tue evil - pefpirattd and
we must get out OF tas best we can ~ thoafhi ne
raising OF the value of TIE subsidiary eoin N~a1 ~
one means OF felicf, and another uoad D. Hsnefal
meeting of the merchants the price a. whlcn 80
ver CON should be taken and take ibsin ~ At fate
the same as grcenDacks He did Dot believe Ne
reaeeming OF the fractional currency by SILVER soQid
accomplish any great result toward iesssnlng the evil
and it might be productive Oi harm.