New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-15
BLAND'S DANGEROUS

BLANDS DANGEROUS BILL.
DAVID A. WEISS CARLOADS OF SILVER LIABLE TO
BE MADE A REAuTY-A BILL WHICH MIGHT
BRING SILVER TO AMERICA N sHH-LOADs.
lBY TELEGRAPH To TIE TBIBUSEl
WAsHNGToN, Nov. 1.-THE most dangerous fea-
lures Of the Bland Silver Bill if 1t is rightly inter
preted by tEoc who favor its passage as well as by
those who opposed it, are not contained in any
Of ts direct and explicit provisions. The opening Of
the mnts Of the United States for the free coinage
Of all silver bullion that might be deposited
into silver dollars weighing 41212 grains, and
the enactment that these dollars should be
| a legal-teuder in unlimited amount. would
undoubtedly cause great financial disturbance in
this country and bring serious disaster upon the
business of the nation STILL if the surplus silver Of
the world could only become available IN
this country for currency, as rapidly as 1t
| could be coined. the silver initiation fol-
lowing from the introduction Of this new
kind Of currency would not, on account OF the
limited capacity Of the mints. be very rapid. On
the other hand it IA probable that the undervalued
gold would be driven out Of fhe country faster thah
the overvaued silver would flow in to take IFS
place.
But the advocates of the Bland Bill assert that
after its passage. the present laws of the United
states authorizing the Secretary Of the Treasury 70
issue coin certificates in exchange for bullion de-
posted with the Treasurer. Acknowledgements,
would apply equally to silver and gold bullion. To
be sure the Act of March 9, 1863, authorizing the
issue Of coin certificates. as 10 now stands III the
Revised Statutes requires them TO be paid ont only
In exc hange for gold coin and bullion but the Rep
rtsentatives who favor the reconciliation of
silver, advocate a law that shall give 10
that metal all the legal-tender qualities
which are now possessed by gold They pretend to
be in favor of double standard, and 10 believe that
if the Bland Bill is passed by the Senate, and signed
By the President, and gold and silver are placed on
equality these two metals viii circulate side by
side and that gold dollar and a silver dollar will
have an equal actual as well as nominal vauc.
To bring this about they Will demand that silver
bullion shall be treated the same as gold bull
lion, when it is deposited IN the Treasury,
and that certificates shall DE issued for 10
as gold certificates are now given i'm exchange for
gold bullion. Indeed. they asser, that such would
be the law Immediately after the passage of the
Bland Bill and that if there should De- any question
about IT, they would De In favor Of amending he
Act of leG3, or OF ms rjiug specih provision in
the Bland Bill requiring the issue of such
certificates I'D exchange Tor silver bullion. Such an
Interpretation OF existing law, Or the enactment Of
new law 20 To this ehec5. would remove all limit
from the possible extent of silver initiation In this
country. Every ounce of silver bullion now held by
Che owners of bonanza mines, or which is I'm the
hand, If any Foreign Government would become
immediately available as soon Do could be depos-
tied In rhe Treasury OF either of the sub Treasures
of the United states and there would be none OF The
delay resulting which woald be required 10 convert
the silver into coin.
Mr. Stanley Matthews. and other advocates Of the
Silver Bin, expires, Tie opmion that the day after its
passage p0ld dollar. aud silver al .a-e -v.u'd DE