New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-08
THE FoLIEs OF TIE BLAND PROJECT.
E"IINO!NG SfOIrEp-riIE ElNENUfS IL DANGER
BUSINESS CHECAED-CEEDir LOWERED.
fRY TELEGRAPH TO THE TRIBUNE


icy TELEGRAPH TO the TrIBuNE.I
NAsnINGrOy. Jan I'll the Bland Silver Bill
canno. be defeated aItogcther-and there certainly
ought 10 Da no COMPROMISE on This question If one
can possibly he ayoided-the next best thing is to
seeuro such amendments to it as viii deprive IL OF
its most Objectionable features.
With that end in view several notifications have
been proposed. and some of them have received care
ful attention il high Official quarters.
II still hope" said a public officer to-day, who
has given this subject much careful thought, aud
whose opinions on financial questions have hereto
fore had much influence with Congress- Il still hope
that tie silver BIZ will except from its
operations the customs duties and the pub
lie debt, and that the profit derived from
the coinage will lie made to euure to
the In,teI states Instead of tine owners OF bullion
WIth these provisions We can get along. The last
IL 80 clearly figui that TO do otherwise seems
like u robbery b. the Government Of its
own rcXende. Then with Il small bullion
fund the mint could begin to coin sill
yer doiiu>, AMI bv using them in purchasing
more bullion can ISSUE other silver dollars TO the
utmost capacity OF the mint, with n considerable
profit 10 the people, aud without depreciation for
some yra~s. Ca fire other hand, ii we required
10 issue silver dollars in exchange for silver balloon
we can issue them no faster but all prOht will ac-
crue to the lucky holders of the luhon who first
dero~lt IT IN tire mint. The coin. when issued, will GO
through brokers direct to the Custom House for the
payment of duties and not dollar of 1t Will get
into general circulation. Thus VIII convert or
gold revenue into silver revenue with all the profit
To- brokers and with 30 benefit TO the people, and
with loss OF public credit In" artificial value
given 10 silver coin 10y receiving IL for duties will
maintain % Tor a while ut par in gold; and if
the Government should issue it again for
amy purpose. it viii come back the next
day 10 pay duties, until the amount
outstanding - large ~ to exceed the demand for
customs dUt! Ihcu alone II would begin to de
preciate AMI would scttl" down to it, value rs
silver bullion iu the market, OF the world. Bat
why should the Government take the silver dollar
for ONES duti.- when II refuses to take its own
paper dollar for u,h taXc-. though the paper is
worth uiueir-,eye1 '.nts in The open market and
the s.l,,t dollar on,y costs ninety cc,tri
Tho pubic do1t should b. excepted" the same
gentleman continued. simply nDc5u.c IT Is our in
forest 70 50. Il i-Iot wIcJh Will" to discuss re-
fined aud urroa 'ou,tru''i" Of law %, &" the rght
Ute United States 20 .,-uc silver ia,il al Of gold
or 10 chang, IL STANDARD at IT. pleasure. The
United Statc. can d. auythu, it chooses. and can
repudiatc the vh.i. .. ia. debt q, easily It
r,p,ldiai- ou" nrr ccpt. No considerable number ia
this county jc.ii. 20 d, Ibis, and I will dp
tine oliver m,u trr Justice T. say that |
lr.,y u..v t, u.. wish f.. nor do they
,iiort,,,. fh.-ar r.or!iatinr the debit in avaiing
t.cu. ,,., 81 tu. privilege of f,,.ns silver dolhn
o. the o,u standard Ny point Is tha. u wpald be-
aeaiu-t tie interest g ,hc tni.ol States il Their,
Wa uo G. -,,ate ab a- IA" utt. orr policy should
be 80 dr"o h hr-l'u Of thc debt @, much a. posi-
Die hv lrriae the interest. W. ciu"'t pay the
priucinrl "vccr D regiment IN com either in silver
q. 4
ni.dm.outd ,.c> .l b. bof,~p;i', a4i We can
rat hoi.aA .t..t P.l,,u. B. vc 1. oar credit, or
v-t,n t .ri,h DID,. our own a., o.. .-, ii foreign na-
r:..- ia oas hons. - of pcrpc.r go pay. Nearly al
r.-.. o., nov u.ou % roll -tlnd ar AMI holds about
u.t-hllf col or lrli a, near as So ,ln tnd out.
Uc Liow taa. ID, my" proposition to
paw thy.r bon iu ilrcg dollars Vhrh III their
;,.rli "a. =. r.r cent i...s Na'.3h'" t';gu goll
lali,. i.t,rlri. d lv them ps r,upliaton. aEd all
l. mana. ..t ..., oy ..lIinr 9,,nat the old
..,J.,l # 100 yiV rot h., understood
...l - .,,,,... ,,.,,i. ,.l, ave willing % taI,.
1000. III r,,. ,f ,ut.,,.+ for tL.ir roury
"a ~. o.. -, ,f ,-~ 90, .i;;ro ON
"'-' .....,,... - IL, .. ,,... ,,,.,,
t...- 81 L...,... a.. t.,o I'm, no,,.r
49,. .,,,..,.,. =, r,,.I.I
....ti..,,,II AZ. ,.l
!" l'' '''' "'
t'l'' ""'' :. ''''. ' " -
Lh"" ''tl .iI'9 ''' 10. ~ J. ''''' ~ " '.''' ~
me h"'.''" OF INC ''''' '''"' '''' '' ~
ialsr question 'h'' VIII "''' i'lu'"''''
The mistake made thal 60 cr.cpt 'ac public debt
f. t. q: uu.a..t ~ favor OK th' h'"Iho.dc: was
c;-iE disposed col b, tine tama gentleman.
"ihr luadha,jri.' bee AID, " ialcr'-rI ~ holt
ing on To 4s per c.t hoaas as long possible and
hc will lc very "a!. indeed II The rirniin@ pro-
cess j. stopped. he VII be rdid LIS u per cr"i III
torres, un'l We c1n borr'" money ut ! per cent ~
par ard he had better ta," lei, Is per cent interest