, 1876-12-17

THE SILVER BILL, AND THE PRICE or slLvER.
The text of the Silver bill passed by the House is
Us follows:
4 bill authorzlng the coinage Of as standard silver
s g Soa9; TIM f06d e Se ss ts
If the ss r an s s17 a aa paS tasd ss a
private except where the payment OF gold coin 's re-
II this bill ia intended to establish the double
standard 1t should have added to it provision for
the free and unlimited coinage Of gold and silver
There can he no certainty Of maintaining, in
equilibrium, the double standard II there be
limitation pn the coinage. The price OF silver has
aguin advanced, and during the brief debate on the
Bland Kelley Silver bill, to 58O5sk pence per
ounce in London. At this rate, the bullion value
in gold OF the trade dollar is So 0o6l; this dollar
contains 40 grains, iue-tonths fine; the golu
value OF the old silver dollar, containing 4l2h
grains, is 50. 97s3; and OF dollar in small silver
change, Sc. DIS. As the gold value Of the green
back is now so. Da75Do. o325, it will be
seen how closely the bullion value Of
our silver change is approaching par with green
backs in gold. It will be exported and sold in
London rs bullion as soon as u given amount OF 1t
will in that way procure greenbacks enough to pay
for the silver in this country meet the, Charges for
insurance, transportation, commissions. etc, and
leave margin enough to pay q fair profit. That
point has not yet been reached, and m4y not be,
but 1t is not pleasant to see how close Is the dan
ger that we may lose our change. slight rise in
the price OF s;laer or in the gold premium would
drive it into the melting pot. The cause Of the
advance is said in London to have been the de.
mand from China. 1t is to be expected that the
passage Of the Silver bill. II it goes through the
Senate, and Is approved BY the President, will
have marked effect the price Of silver, and its
first result may be the expulsion Of our small silver
change.
NATIONAL MOVEMENT OF BANKS FOR RELIEF
FROM TAXATION.
The meeting OF the New York Clearing House on
Wednesday to discuss the question OF taxation
was attended by the representatives OF forty OF the
principal banks OF New Tork. The Tax Commit
tee Of last year were continued in office, and were
instructed to open correspondence with all the
other Clearing Houses in the countryswith view
to uniform action and corporation in measures
for ha7ing taxes reduced. The Committee are:
George s. Coe, american Exchange; ". L.
Jenkins Bank Of America; E. D.. Tappan, Gala
tin; J. II. Morrison, Manhattan; C. N. Jordan,
Third National: J. D. Vermilye, Merchants; J.
E. Williams, Metropolitan; G. r. Baker. First
National; and William Dowd, Bank OF North
America
The deliberations OF the meeting were private,
but the following resolution adopted was made :
public:
Resored That the opinion Of the Associated BANKS
OF this cy the earnest efforts OF tho banks
the entire country lii askng for retet from the urgent
and weight Of i1at!on imposed their
1nents should be especially directed securing from
Congress-, arst tle repeal Of the tx oa dclosts Sec
der to protect bank shares from unjust and unequal
ta1at1on by state local authorities amendment to
Sec s. pf the netIsel statutes OF The United States
be procured providing that hank shares shall be valued
ad assessed Ut no greatsr rstG Of raiaatSn nor ln
and they shall hare the same privileges mud exemttons
with taxation other DEr30nnl pF0uertYs
fourth. tnat further effort be made during the
Ing session Of our State Legislature to uniform
system of taxation Of bank shares applicable the
tire State ly which the burden OF such shall be
eQuItably distributed.