New-York tribune., 1878-01-21
TIE SEN1TE AND THE SILJER BILL.

II is q mistake if the bankers OF Ncw-Yorll
and other Eastern cities think that there Is 10
longer any danger of the passage of the Silver
Bill. 1t need not be said that It's passage
would seem to us great public calamity.
But there has been no doubt. fOr some weeks,
that the bill could be passed by major
ity III both houses, and it is not quite as clear
as 1t seemed to be that it may not pass both
houses over veto. All reasonable and hon
orablc efforts, at least, ought TO hc made to
prevent that result. The Senate has been
thought the stronghold Of the opposition. But
the recent vote, only nineteen Senators voting
virtually to kill the BILL and thirty-onc voting
in the negative. is not very encouraging when
analyzcd in the light of previous votes.
Mr.. Spencer. of Alabama, voted on the
wrong side. and his vote had been counted as
doubtful. Mr.. Cameron, OF Pennsylvania, also
considered doubtful, because no interest in his
State could intelligcnty desire the passage OF the
bill, voted with its friends. Messrs. Kellogg,
Lamar and Hill, the three Southern men who
have been expected to vote against the bill,
did not vote at all. Mr.. Chrstancy, from the
West, did not vote Still there were nine
teen, including Mr.. Mitchell, of Oregon,
| who appeared on the right side. But
Mr.. Conover appeared among the friends
of the bill; MIR. Sharon, still absent,
is claimed to have some sympathy with
its objects Mr.. Eusts. of Louisiana, was alb
! sent but is said to be friendly, the absence
of Mr.. Wallace is supposed TO be due to Il pair.
| Of the absentees, at the time OF the last vote,
Mcssrs. Burnside, ChIistiancy, Dennis, Hill,
Kellogg. Lamar, Randolph and Whyte, are
| thought to be safe to vote against 1t, and If
so, twenty seven votes, or enough TO prevent
the passage of the bill over a veto, can be
expected But some. are doubtful on both
| sides.
Thus the matter stands practically where it
did month ago. One vote more or less may
turn the scale We put no faith in the story
| that the President will decline to veto the bill
! if it passes by Il large majority, because all
! his cOmmittals lead to different conclusion,
| and because he knows that he has no other
opp0rtunity half so good of making for him
self great name in American history. The
veto, we take it for granted, will come, if the
bill disturbs the obligations OF the United
States to its creditors. At present it still ap-
pears that twenty Senators are ready to
sustain such a veto, and that number is enough
10 prevent INC passage VI IL DlHs IDut Is
barely enough.
Under these circumstances it would be ex-
cecdingly unwise for New-York bankers 10
defer unnecessarily any steps necessary for self
defence. They cannot afford to leave the COM
merce OF the city and of the country to depend
upon the chances of vote, yea or nay, by q
single Senator. Their duty is to protect them
selves and the commerce Of the country. This
they can do, no matter whC, =. BANDS
bill passes or not. by resoute action.
But they may make fatal mistake if
they suppose that the Silver Bill is
already beaten There are chances and Alto
gcther too great chances for men to tane who
are investing the funds of others, that it NAV
pass. The sure and safe way for them is to
put the business of the Clearing House of New
York on such basis that nobody can disturb
it, and in that step they are assured of the
support of the clearing houses of Boston
Philadelphia, and Baltimore. When they have
done this, the action of Congress will be q matter
of little consequence to them; it will ruin