New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-04-22

1t is piece of impudcncc for men who
urged the passage of the Bland bill to claim
that tie results of the Allison bill justify them.
That the two bills were utterly different in
character and intent was shown by ali honest
journals as soon as the Senate bill had been
passed. TIE TRIBUNE, for example, though
holding it dangerous to pass the Allison BILL
nevertheless Immediately pronounced its sub
stiuuon by the Senate great triumph Tor
the public faith. No other competent journal,
so far as we know, treated the two bills rs
equivalent. The fact was everywhere recog-
nized, by candid opponents and by decent adj
yOcatcs of RECOMMENDATION, that the House bill
did and the Senate bill did not involve re-
monctization of silver The Senate bill was
opposed by the press, as by the President, cx-
clusivcly because of its pcrniciOus effects upon
the public credit, and it was frankly admitted
also that these effects could not well be meas
urcd. That silver would not get into actual
circulation for months was given as a reason
for the belief that the harm to the public
credit might be comparatively small
I'm view of these wcl-known facts, ii Is not
decent to quote declarations made III regard
10 the Bland bill "a having been made in re-
gard to the Silver Bill actually passed. Men
may yet honestly differ, and do differ, as to
the effect of the Senate bill, and it cannot yet
be said that experience settles the question,
for silver has not yet been ought into ac-
tual use nor substituted for gold in the pay
ment of duties. Not a thing more than was
known when the bill passed rs now known rs
To the effect of the actual circulation OF silver
dollars The only thing definitely asccrtalned
is that the mere apprehension OF possible pay
ment of interest and principal OF bonds III sill
yer has caused sales Of large amounts by Tor
eign holders. These sales have now been
checked, not by any action under the bill
itself, but by TIE contract Of the Syndicate,
and the control of the Syndicate bankers
over the rate of exchange IL Is mere
wauton mendaclty to attribute the effects
10 reconciliation of silver which has
not vet been enacted. or if in any sense
enacted, has not yet been in any degree or
SENSE realized. All that can be said with truth,
is that the bill passed by the Senate has not
done greater harm to the public credit than
the Government was able To meet and cOun-
tcract by the new contract with the Syndicate.
About the effect of reconciliation, the cOun-
try has no better opportunity to judge than it
had six months ago. No trial has been at
tempted. Those who urged that the crcula-
ton of silver dollars would have the effect of
initiation, have as yet no reason Whatever to
change their opinion. So with those who
thought that reconciliation would prove harm
less or beneficial; except a. to the influence
upon the public credit, there is as yet nothing
to change their opinions. When silver comes
into actual use, and is paid out by the Govern
ment for expenses OF legal-tenders, or received
in payment of duties. it may then be possible
10 form an honest opinion of the act passed
by the Senate. But no experience under that
act can be honestly quoted As refutation of the
arguments of those who opposed the Bland
Bill