New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-22
SILVER IN THE SENATE.
THE BLAND BILL REPoRIED-wnL THE PRESIDENT

THE BLAND BILL REPoRIED-wHL THE PRESIDENT
SIGN 7-AILIsON's PROJECT.
lRY 1ELEeRArH TO TIKI rRTBUNE.l
WAsuINGToN, Nov. 21.-The Senate Committee
ON Finance determined to-day to report favoraolY
the Bland Silver Bill. The fate of this measure IN
the committee has hung upon the vote OF senator
Wallace, of Pennsylvania, who from the hrst mas
held the balance of power III was "U oi'1
time loped that Senator Howe might be couh'ou
among those who are opposed to the scheluo'
Of the silver nAationists; but every vote which he
has cast in the committee has been not only in favor
Of the bin as it was finally agreed to, but also IN
snnpor of those Objectionable features stricken out
Inv the committee. and against all notifications
which would. if adopted, rob the measure of some
n its power TO do mischief The only i'm
po~tant amendment agreed TO was that OF
striking out of the original the provision
for free coinage Of silver bullion on private ac-
count. and the substitution of a clause giving to the
United states Government the exclusive rrht to IS
sue the silver dollars, and limiting the amount OF
them. This amendment was carried by the vote OF
Mr.. Wallace The following is a copy of the blli as
il was reported to-day:
90 authorize tie free coinage OF the standard sill
rc iltscei &C. That there shail he co'uod. at the
several mmfs If the United states. silver dollars OF the
,iteI io t,- Of of January IL. 1897. which shall
be The devices and sopcr>crptions provided ny
s,tl erf which coins, together with dIt SILVER
dollars hcr-oforc coined 10y the United states Of hee
weight and dneuess snail M legal tcidei "a, tt uoli
nj yaue foral debts ami does puoic any ~ ]. 1t,i ~
Z ut n ID rv1s. p-Ovid 81 Tor Joy contract ana t
Secretary II tne Treasury authorized ann rcce '"'
o. any money On the Treasury MOI othol "lc az ~
printed. o. purchase. from tn' TO- tWt' ,4N.4 'tl
ION nj the market price thereof, not les lIan
SZO0OOoO ptr month h't lh'iv u.n t,, w.
he month. aud cause the sIrae to Doe comet l' -'I
coinage shall Dee accounted ior and p2id mo G lI,as
vrv rs ur,vl under existing laws It.tiFc t' eNp
siiary coinage: provided that the amount ~ money al
8uY time lure TED 10 -u'h slNcI ot H. N'is''o vi
such r,.u.til, COM shall NOT eX 'oed 9l.ojJ0j1
$40 Z. AN acts aud parts OF acts inconsistent WIN
tho pI0Nis ons OF TINS act a hereby rcroh'1'
The vote upon reporting this hill was as follows
In the affirmative Mc,srs. jones' Allison, Howe ana
Wallace: In the negative, Mcssrs Morrill, Dawes
and Bavad. Senators Ferry and Herman were
absent and paired. Mr.. Ferry would have voted for
the bill had he been present, and Nh Herman
against 1t.
The adoption e the Bland Silver Bill by the SEN
ate Committee on Finance with so many of ITS OBJ
jectouabs features. and the possible passage Of 10
bv the senate makes the intention of the PRESIDENT
in regard TO a measure Of ibis character much moro
important than 10 has before been considered. 1t
may DE that tie only thing which can save the
country from disastrous silver initiation, and the
credit of the United States from shock from which
it viii not soon recover, will be the veto Of the
Silver Bin when it is submitted 10 the Executive
for bis signature.
The President Las been exceedingly careful IN all
lis recent uttorances on this subject. Ii is known
that last Spring and summer, when the silver ques-
ton was widely discussed in the newspapers the
President was inclined 70 accept the arguments OF
tie -ine,alllsts and 10 favor the rcGstabishment
Of a double standard metallic currency. lie Te-
marked on several occasions that he believed it 10
be The duty If the United States to utilize the silver
which it produced in its currency. These facts
led many TO suppose th"t he favored the
extreme views hold by such men as Senator
Jones and Representative Bland, and that he would
sign any bill providing for the RECOMMENDATION of
silver, no mattcr what its general provisions might
be. Bat tic silver question has assumed a new and
important phase since that time. The silver Inha-
tionists of the present CONGRESS do not propose a
double standard metallic currency, but are clanor-
ius for legislation the only effect OF which would
be 10 reyoutionzc the circulating medium
Of the United States and to substitute silver for all
the legal-tender notes. as well as for the gold now
in use in this country; and 10 make the principal
and interest Of the public debt. as wei as duties
upon Imports payable in this debased currency.
A. far as can be learned, the President has never
spoken a word. either in public in private. from
which it could be legtimatey inferred that he is in
favor Of any such scheme On the other hand,
he has within the last few weeks repeat
ediy said to his most intimate friends that
the Bland Silver BIZ contains certain provisions the
enactment of which, he believes, would be exceed
iugly unwsc. Those provisions were, the free COIN
age Of silver on private account and its unlimited
lega-tcndcr, making it available not only for the
payment OF duties imports, but also of the inter
Is, and principal of the public debt. These opinions
have been expressed in manner so positive that
they cannot be mistaken.
At the same time. the President has carefully
avoided the disclosure TO any one not a member OF
his Cabinet, Of what his purpose is with regard TO
any particular bill which mag be under consider
alton by Congress. Nothing would be more i'm
proper than the public announcement by the Pres
ident Of his intentions under such circumstances.
The reports which have been in circulation to-day,
here and elsewhere that the President had declared
that he would veto any silver bill which contained
certain provisions undoubtedly founded upon
the positive assertions Of members Of the Cabinet
and Others who have the best means of knowing
the Presidents opinions on the Silver question that
he will not sign il in its present FORM Secretary
Shermas opinion is well known, as it has been re-
Gently published. Secretaries Evarts and Schurz
and Attorney-General Deveus understood to be
in full accord with the Secretary of the Treasury on
this subject and these make majority of the Cabi-
net IT, therefore, the President should submit the
question to his Constitutional advisers there is no
doubt nc TO the character Of the counsel they would
give.
IL may be considered as settled, in view OF all
these facts although there Is probably no founda-
ton for che report that the President has declared
what he Will. what he will not do that any meas
IRE which is sent 70 him for his signature providing
Tor tue payment either of the principal or interest
OF the public debt in "A deprecated currency, or for
an unlimited issue of silver dollars, and their free