The New York herald., 1877-12-19
THE DOLLARS OF OUR "DADDIES."

WHAT THE WALL STREET NAGSATEs THINK
OF THE SILVER QUESTIONING GREAT GUAM
rIrr or MEXICAN DOLLARS IN NEW YORK.
30 far a. the money centre OF New York s con-
cerned, an Invasion Of the capitalists strongbolds
In Wall street yesterday revealed the fact that tho
anti-silverites are ranged under tho banners OF
the Syndicate firms, and the pro-siiverites 1ght
the side OF the local brokers and
Of houses that are embarked In domestic
gotiations Mr. Morgan, OF tho nrm Of Drexel 4
Morgan, did not care to express any decided
opinion as to what effect tho passage OF
the Silver bh, before Congress- would
have upon the financial prospects Of tho Union. Ho
had no hesitation, however, In saying that his
tablishment would receive silver moderate
deposit. and give deposiIors greonbacks for II
demand at par. He was aware OF tho presence Of
the Mexican dollar In the market In any considerable
quantities.
Mr.. Fisk, OF the 1rm OF Mcssra Fisk b Hatch,
bankers thought that with regard to the Silver bill
tho country Is alarmed "about nothing" II would,
he suggested be grave mistake pass such a silver
bill as would admit Of the national sccurtieS being
paid in that metal AS 70 the statements from the
West TO the eject that tho trade dollar is discount
when compared with greenback currency, It is all a
mistake, which current quotations viii show ~
glance Mr. Hatch, vi the same lrm, believed that the
reconciliation OF silver under certain restrict ons,
would do the country no harm. principal resirlc-
tion should be that would prevent the application
OF silver coin 10 the payment of government socuri
ties Tho ,tion OF SILVER would split tho
difference between It's marketable vauo and that of
gold, thus raising tho value OF aud
perhaps depressing mat Of gold. The coinage OF sill
yer should he limited to tho government alone
NIX. sELrGMAs's VIEWS
One Of the principals VI tho house OF Seigman
Co., bankers, OF Broad street, was OF the opinion
that the passage of the pending silver bill would
brokers ana proportionateiy diminish transactions
in Uni.od stales government securities, thus bring
Germany and England, wnero they arc now
held safe investments. Already considerable
quantities oil these bonds have found their way home
IRON abroad. la addition to this hardship the ro
monetizaton OF silver would take away all our gold
and ultimately hood the country with silver, metal
which, while very convenient In small quantities, Is
altogether 100 bulky Tor exchange with orcign nations
Tho 1000 national banks that are scattered over tho
land would DO compelled 10 buid largo vaults and
keep the silver stored there as they keep bank
and gold But before stated, the greatest in
is known us tho Bland Silver biil wouli be that
suffered by national credit and securities
wo could reap from the money tha. nigh.
be saved By paving our coupons ana bonds IN
dollar, aud which will naturally nuctuato, governed
| by the production ana consumption. Mr. Sci'gman
ra'sod no objections 10 tho resolutions pasrca last
Monday by the Philadelphia Board OF Trade wherein
the coming ot 500 000 00O In ssver advocated The
passage OF the Silver Dl would diminish tho
tions Ia loans thus initiate az unst the countrys
| trade. There appeared 10 considerable amount
| OF Mexican dollars IN the market
/
whose Office is in Exchange place, opnea that Il the
Bland bill became law u would raise considerably
e 81 sod snS aoys sSeo % It's
s,oriny whereas at present 1t Is unable 70 90 above
Aity-shrec pence
WHAT EUROPE Would AssERL
In Europe inc passage OF this bill would be looked
| upon breach OF faith ON the part OF tho United
States and foreigners would ruin our credit Dy
sertng Under certain conditions u silver b,i might
be framed that would bencht trade, but such q
urs ought TO be approached with mucn caution. In
/ tu & On 10
matter oil "A circulating medium II unwse; the
try was going on very we'll without his new hobby.
/ prominent membor OF Of the i've New York
Arms forming tho Syndicate stated that the present
agitation on the silver question has already cost tho
country much money. Some $5 000 900 SO 000 600
| have been thrown on the market IN the shape
Of government securities, and these sui
faith 10 talk paying In silver after tho country
having pledged Itself redeem the bonds
Ia gold. The Funding bill, e.contendcd, hao nothing
10 DO with reducing lhe rates Of United states bonds
the matter IL one Of commercial proby between tho
country ani rs creditors There are no Signs OF the
presence OF Mexican dollars IN unusual sums. Tho
Philadelphia resolutions Of the Board of Trado
arc very good ones: Tho whole question rs ono OF
conflicting sectional Interests and the people West
seem 10 be afflicted with SILVER virus
OTHER QUESTION
A number 0i influential gentlemen who favor tho
remonetixation OF silver werc consulted, aud their
views, taken as WHOLE mny be briefly stated. They
contend that the Funding bl, although not charge
able with all tho Mischief has had moro 10 do with
bringing United states than the Silver
s s1 s ns sSa ocs were asSea Sy The
i
| suffered In sympathy with them. II Is nonsense TO
say that the national debt sould would DO paid In
| siivor, even II tho Bland bill became law Who're
would the silver como rom THIS country produces
only $75,OO0,0O per annum, and the surplus SILVER
oil Europe, TO the enormous amount Of 500 0O0 OOO
finds ready outlet In China and In India We aro
under the tuteago OF foreign indicates not
thus dared think for ourselves. Snail we have
mines countless millions OF the precious metus
and not presume TO them Tor own benefit Just
| because the dong 50 might somewhat Inconvenience
| the money centres OF London, Parts, Frankfort or
Berlin? What the American people stand mostly IN
need OF Is abundance Of silver. The bondholders
shall have dollar Tor dollar ana for on their
Investments, but tho people of this country going
to Tor their benefit the wealth that bouno.
eous Nature has placed at their disposal