Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-03-04
Comments on the Veto Message
and Silver Bill.

| The Washington core spOudence oithe Tribune
contains the follow ing paragraphs gathered from
the conversation Of senators and representatives
showing the general drift Of feeling in regard t.
the Presidents message and the silver bill:
ATALK WITH MIR. SHERMAN.
The Secretary Of the Treasury said, this even
ing that in spite of the recent slight rise ID IN
price of silver Ia natural and feverish Temporal,
icndenc,1 he still believed the passage Of th'
silver Bill was an evil for the country. liz
should however, carry out it, provisions 10 thu
fullest extent of his power and ability, and II The
| .opisn ideas of the many who look npoh ~ a 8
pauacea for all kinds of commercial distress hav,
any basis in fact, IL will be seen, and his et
| fott and action will ne such As to insure to ther
anv measure of relief which 1t may aford. lie
| still adhered, however, to the views he had long
entertained thai the bill is an almost unmiNed evil
| The conversion of bonds from the Is TO tn ] Il
per cent species has almost wholly stopped ~
spite Of ovoly effort employed on his part through
| new aud hitherto unlrIed ways, by getting Ild oi
| the Syndicate and Otherwise, TO urge the CONVEX
| sion forward to the utmost of his ability, While
| he said, If Europeans continue the sale ia large
quantities Of our bonds held by them, great and
| almost irietrievable embarrassment will ,neue.
| The Secretary said that he does not believe the
| silver bslion certificate measure about to he
| brought forward by the silver men Will pass. AT
| lea, twenty of the senators are pledged against
/ lie
only passed over the veto because many who voted
| for it thought it their duty to arrest the agitation
| upon he subject, aud place barrier, in passing
this bill, to worse possibilities OF EVIL III The same
| direction. lie was emphatic in the statement OF
| his belief that the silver certificate measure VIII
never become a law, and said, moreover, that the
| platform taken by its advocates of certificate
| for value OF deposits only as against the gold Ger
| tfcales now issued is wholly iilusory, "a the %
| per cent. over amount of gold deposited allowed
| TO he issued Is only option given g. the Ireas-
airy and is never carried out. He SAID that he did
not believe either that Germany will remOuetzc
silver Ii would be gre atty TO our advantage, he
said, if all nations which have rejected silver
circulating medium would do 50, but he had no
faith in any such reconciliation by them.
In point OF fact, Secretary Sherman appeared
unable to admire the silver lining to our fnanc al
cloud
WHAT BUCKNER EXPECTS
Judge Buckner said this evening that he, with
many of his colleagues was never of the opinion
that the passage OF the Silver Bill would prove
any Startling or immediate measure OF relief to
tue financial distress throughout1he country bat
they have considered It more 10 the nature of a
statement to the world that we have got to the
end Of fluctuations of values, and that this would
have an indirect effect for good. lie said he be-
lieved that the demand for silver at the Custom
House will alone cause rise in the price of the
IN, tai, and the fact that gold has a new legal aud
the value of that metal.
While several new silver bills are now before
his committee Tor coh-ldei aton, Judge Backner
said he believed the Oil adopted hhaiy VIII be one
to put SILVER bullion upon Tue same footing as
gold bullion and permit the issue of silver bu lion
certhcates, nut only iof the actual amount u the
deposits and not as III the case OF gold certltrates
| for % per cent over the amount OF deposits
| Such measure would ooVate tae Objectionable
features OF Tree coinage system, he SAID, and
would pass both House ana senate lie was OF
the opinion that after the passage of this bill even
the smsll coinage OF SILVER no" admissible, which
Is however up to The tuli caplcity OF the Nuts,
VIII IN the c0Grse Oi three or lo1r mouths tine
| bring the plce oil slVr above That Of gold, and
THIS, too, with the pos'ponement OF resumption
for few years. lie SAID he believed that the
anu resumption olll VIII YET become u law, and
will work gradual but sure ana permanent re-
lief to the business and industries OF The country.
| he Judge was ntmlt convinced, moreover That
the remonetzallon OF silver here Will be very
shortly followed by ITS reconciliation IN Germany
wGich Will SUI further enhance Its value as cir
culatihg meulum'
COMMENTS BY REPRESENTATIVES,.
co.o.ol ,,arf.1d sa;I ho ,,o,,,,h, a., r,.o,.o n
good one, and he was verv glad the President had
vetoed the bill. The President also did well in
hrs opinion TO conhne his objections TO the effect
which the passage OF the oiil WIN nave upon the
pubic ana private credit OF me county. That
was MS tuohges' POM, ne sau, anu IL was well
presented. ueneral natheld malked upon the
strange use OF tue word veto IN TINS country
Inc worn does net occur IN tue Constitution OF
| Tue laws ne sad ana the power does not exist In
TACT ~ TINS country, as To-Day experience shows
Inc President has not the power to forbid the
passage OF an ac', Dut only 10 require Congress to
reconsider the matter
Mr.. BAR, oil New Hampshire, SAID the message
was good one, although the Preside ut might
nave gone iaithef ana presented some OF the 9th
er stfonS p mus against the passage Ui the bill
lhefe Is, ne sara, much loose thought on the sub
Ject III lhe country ana the Fresident might have
done something TO clear this up
ten. >. -. COX ana MI. Monroe, OF ONO, were
much dspleased with the veto message and es-
pecisHy win 'hose Iaisages OF II IN which the
rresident sought TO show that the Silver Bill was
dishonest measure. mat attempt places them,
they thlnk, 10 ialse iight before the people.
Othef ONO representatives SAID that this veto
smashed up me republican party.
Mr. Il. A. Willis, OF New York. said, "The
message Is hrst-rste 1t makes President Hayes
stronger than be has ever been before. The tri-
nmph OF local seli-government IN Louisiana and
the mo" iof national honesty here ale enough
glory for one Administration.
SENATORIAL OPINIONS
Senator Rapdo,rb sa;d be ULoJ the ,,o..o.,, :,
,vas strsirb tfor.ard ond NIL '
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