The daily gazette., 1877-11-07
From the philadelphta Press.

RECONCILIATION OF SILVER.
An unexpected proof of the stretgth of the
supporters OF remonetizatiOn OF silver in
the House Of Representatives was furnished
by the action of tnat body yesterday. The
rules were suspended by the significant
vote OF l63 to "a or nearly five to one, for
the purpose of passing Mr.. Bland's silver
bill. II provides for the coinage cf the
old silyer dollar, of the weight OF ,4l2k
grains, upon the same terms nd conditions
as those Imposed on gold bullion deposited
for coinage under existing laws. A similar
bill was recently introduced in The United
States Senate, and It's friends in that body
confidently anticipate favorable action as
soon as a vote can be reacned. $500 1H. 2 .
The pertinacity with which this measure
is urged, aud the powerful supportu com>
mands in many sections Of the country, as
well as In both branches OF Congress, lndis
cate that it possesses too much vitality to be
defeated. The principal objectons urged
ars that the intrinsic value IN gold Of the
SILVER contained iu the proposed dollar rep
resents, at the present prices OF the Two met
ais q sum from eight to nine cents less
chan tue value of gold in q gold dollar; and
that 1t will be found impTacticadle TO, main
tain double standard. The friends of the
bill answer thess objections by saying that
the chisi reason for the present undel-
va uatlon of silver Is TO be found IN the
attempts to denonetizs it, aud by claiming
that, the use OF both silver aud gold as legal
enders for unlimited amounts Is sAnctione ei
by the commercial usages that have prevail
ed for many Centuries and required oy the
financial welfare OF manklnd. "!p4 if't-
Many other arguments are adduced In
favor 81 the reconciliation OF silyei' Even
il the admission Is made that u would be
accom- panied by some inconveniences and
dangers, The question is forced upon atten-
Jlon whether lhey could possibly be as bur
densome and injurious as the Disadvantages
and distress that are alleged 10 be insepara~
bic nom an attempt to establish agold stan
dard.
In regarl to the relative intrinsic value
OF the proposed silver and existing god
ollar, it is worthy OF notice that the weight
Of sllyer provided in The Bland bill has at
nearly all periods, except during the last
| few years, exceeded IN. current value the
gold dollar. Tue Americaa relation is one
IN weight of gold to 10. 9S or nearly 16 in
silver, while the relation maintained in
nearly all the European coinage is one
| weight of gold to 10, of silver. In other
words, the old silver dollar was nearly al
ways worth more, mouey, intrinsically than
| the gold dollar, and lit is not improbable
that similar relation in, current values will
| be restored ii remonetiHatlon movement
| in this country incltus similar action In
| Europe. ur HtI IfrIi .urI .-'lit.r -uli haE
| The strongest reasons urged in favor
of Mr.. Bland's are bill First, that re-
monetizationi is essential, to Il success
fui resumption of specie payments; and
second, that an attempt 10 establish q
gold standard, will, by lowering prices
without reducing the immense volume OF
pubic and private debts cause inde-
seribable distress. A very impressive
array of statements that support these
propositions is con tanned in the majori'
ty report OF the Silver Commission.