Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-02-19
STATUS OF THE SILVER BILL.

STATUS OF THE SILVER BILL.
The Bland silver bill, as passed in the
senate, was returned to the house yester'
dsy and placed upon the speakers table
with other business which has prece-
dence, The senate amendments we're
ordered printed. After the house ad-
journed about sixty members in favor OF
the reconciliation Of silver held a eau
Gus in the room Of the committee of the
Judiciary. They were called to order BY
Representative Buckner, who announced
that the executive committee had agreed
to call the associations the Silver Union.
A resolution was offered that when
the bill is reached in its regular
order to-day that the previous ques-
ton shall be called on eoncurring in the
senate amendments, and that there shall
be no debate. Mr.. Bright, Of Tennessee,
stated several objections to the bill as re-
turned from the senate. One was as to
the limitation Of coinage, and another,
striking out the feature Of free coinage
from the house bill. lie wanted to make
some protest against it, for this was dis
elimination against both persons and
metals. The holders OF gold we're privi-
legged to have their gold bullion coined
free of charge, and citizens and foreign.
ers could be benefited alike in this re-
spect. Discrimination sgainst silver
should be made, as silver to be coiRed
under the bill was 10 be a full legal ten
der in payment of all debts. What rea-
son was there for discrimination against
it 10 the matter Of coinage2 He stated
several other objections against the bill.
Mr.. Wright said that by accepting the
senate bill the house could pass it over
the President veto by a majority Of two,
thirds. Free coinage was a small mat
ter. The bill secures a silver currency.
1t would hava a good effect on the
country. II the bill should pass as
it came from the senate it would be
q great victory. When the gen.
tlemen we're certain of a good
thing why should they besitsteH
Mr.. Hanna, a radical Republican from
Indiana, did not believe the President
would dare veto the bill. Now was the
time to pass it. While be did not approve
Of the senate amendments he thought
the passage Of the bill would do very
much to strengthen the confidence Of the
country. Mr.. Ewing took the ground
that the secretary of the treasury will
use the 81, 900, 900 Of silver authorized to
be issued per month, for the purpose OF
promoting bis resumption scheme. This
bill gives to the secretary Of the treas.
ury the power to coin either two
or four millions of silver per month,
but with such a restriction that it was
adhering 10 effect to a gold standard, aud
he (Mr. EWING would not vste for it.
Mr.. Butler would take this bill IL be
could do nothing better, but he had ob.
jections to it. He was 10 favor Of a full
and free debate, which would strengthen
the bill. Considerable discussion ensued,
and at last only forty. five members re,
NAMED. 1t vas Gually agreed by
them to refer the bill to-day to the
committee on banking aud currency.
This will probably be done, and the bill
may not be reported back for several
days. Such is the present status Of tbil
bill. It's passage in the senate Satur
day morning, by a vote Of forty.eight I,
twenty.one, was a complete surprise Il
the m%oneyed power Of the East. 1t wa
an overwhelming rebuke aud defeat I,
Wall street and organs of the bond.hold
ers. 1t was an unexpected triumph TO
the people, a step in the right direction
The West and South stand almost solidl,
united. aud our Eastern brethren ma,
begin to realize pretty soon that Their,
has been a new deal. The "silve
lunatics," as they are fondly called, or
in the ~ascendaucy with fair prospect Q
gaining ground and retaining it. Tbi
bill will not give the relief WHICH nay b
expected, because it does not 90 ia,
enough. The secretary of the treasur,
can impede its effects, and even may b
able to use it as a machine to promot,
bic resumption scheme. The people vii
understand All this in due time