New-York tribune., 1878-02-04
ATALK WITH DIR. LINDERMAN.
THE DIRECTORS VIEWS oN THE BLAND BILL-How
TO MAKE GOLD, SILVER AND PAPER CIRCULATE
SIDE BY SIDE.
InY TELEGRAPH TO THE rnIBuxE.l

THE DIRECTORS VIEWS ON TIE BLAND Blli-lo"
TO MAKE GOLD, SILVER AND PAPER CIRCULATE
SIDE BY SIDE.
IBY TELEGRApH TO TIE TRIBUNE.I
WAsnIyGTox, Feb. 3.-Dr. II. II. Linderman. Di-
rector of the Mint, expressed Il willingness to-day
to converse with correspondent of THE TRIBUNE
on the silver question. His long study of the sub
ject and his practical familiarity with all the facts
bearing upon it, make what lie has TO say OF more
than ordinary interest.
"You have no doubt observed closely the debate
and proceedings in Congress uDOn the question oi
rcmonetIzing SILVER" said the correspondent;
"What, in your opinion, will be the result 7"
"Thc mIcations are.' DR.. Lndcrman replied,
that the Bland BILL which provides for the com
age of the dollar Of 412l2 grains, with full legal
tender power, will pass by decided majority. IL
is of course possible. but hardly probable, that
dollar Of different weight may be substituted; but
think there will be no limit placed upon Its iegal-
tender quality. 4 majority of the members OF b0th
Houses appear TO favor another trial OF the doupIe
standard with the ratio established III 1884. The
debate in the Senate has been unusually able wlth
perhaps better comprehension of the subject than
has characterized previous debate on the money
standard, although the discussion which preceded
the change Of standard IN 1884 was able and cX-
haustiyc There have however, been great changes
in monetary systems SINCE the year last named, ana
the question generally is much more com
plicatcd now than then. At that time the
California and Australia gold fields were
unknown; the silver standard predominated over
gold throughout the commercial world. except III
England, and neither the people nor the Government
Of the United States had run In debt oany consider
able extent whereas at the present time, the addi-
ton TO the stock of gold hes been without parallel
and that metal prcdominatcs rs the money oi legal
tender and commerce in all countries associated III
modern civilization and We have large debt,
pubic and private.
"It is on accohnt Of this Indebtedness" continued
Dr. Lludcrmau that the feeling OF the people IN
relation to the monetary standard has become so
intense. nervous dread of the consequences
likely 10 attend the liquidation Of debts on the gold
basis has arsen and may lead to the undertaking OF
the recuerative po wcrs of this country and TO the
adoption of injudcious measures which, once estab-
lished and fairly under way, may prove difficult to
abrogate.'
SILVER TIE BLAND STANDARD.
But. snpposing the Bland bill TO become law"
said the correspondent, "what will probably be the
effect of il 7"
"That,' said DR.. Lindcrma n. "is n broad question
and by no means easy 20 answer. If it should not
be followed by the restoration substantially of the
relative value of gold and silver whi,L prevailed
with ONLY slight variations for many years pr'ccd
ing the change in 1870 by the German Empire from
the SILVER to the gold standari-and that
| think very doublful-sycr would undoubtedly
soon become the actual money standard Prices
would rise 10 some extent. and gold would COM
mand premium and DO exported. II the balance
Of trade shoald be decidedly in our favor the loss
Of gold would be slower than If the balance Of trade
were against w."
.'But suppose the pending bill should be amended
40 as to require the coinage Of silver to he made on
account Of the Government, would that prevent Sill
yer from becoming the standard y
mo sir: that would be of 10 consequence, except
that il would give to the treasury instead OF to the
owners and importers of silver bullion any gain OF
-cjcporage that might arise from the coinage. This
rs a principle. is right in itself; but the controlling
feat,ire of the measure is the unlimited lcgaltcndcr,
which when once gwen will quickly overcome all
subordinate rcstrctOns.'
"What do Won think Of the Allison amendment.
which provides for an international monetary con-
ferencol"
"My opinion is that It cannot he too quickly pro-
yidcd for by law whether the Bland bill goes upon
the Statute Books or not The consideration OF the
question by body OF men especially selected By tho
different countries for that purpose, has become
necessity The change i'll the relative values OF the
precious metals has resulted chiefly from
tbe separate action of different countries, and
Is not at all likely to be removed by the
establishment in one country of the double
standard on ono ratio. and III any other country oi
a different valuation 4 uniform ratio must be
odopfrd or silver cannot continue rs full lcgateE-
der both in Europe and tie United STATES"
SINGLE OR DOUBLE STANDARD.
"What ratio or relative valuation in the gold coin
ace and silver dollar do you think it would bc best
for this country to adopt
81 am as YOU know, in favor OF gold as the
priucipal money of payment in this country, and
thc largest practicable of silver as an adjunct,
and believe that our people would not long consent
70 the use of silver to the exclusion Of gold as
money. On this latter point the question will ulti-
matcly turn, and 1t is o! much more importance
chan il now appears TO he considered"
"Some of tho abiest advocates OF the double
standard while they admit that the ratio between
the prccious metals must in the nature Of things be
sIbjcct TO fluctuations, appear 10 think that 1t Is
brtter 10 run the risk unucr dDuble standard ol
changes in the relative value of gold and silver than
for this country to adhere to the single gold stand
ard and thereby appreciate the value ol gold ana
dcprcciate that Of silver. What Is your opinion on
that point ~
1T may be said, with the utmost respect for the
opinions of these gentlemen, that they do not appear
70 have taken into consideration the important TACT
that the peoples using silver rs the sole money
standard greatly outnumbcr those using the single
gold standard. Al Asia is the silver standard
while Europe is only partly on the gold standard.
France and Ter monetary allies are on
the double standard, but their mlnts are
closed 70 the coinage of silver Their coinage ana
lecaltendcr ratio is one to fifteen and half. when
IT is clear they must adhere to, or change to ihe
single gold standard. The latter Is the most pTopa-
bic if any other than a temporary provision be nau'
by tho United States for the coinage OF egai-iehueI
money. The ratio under the Bland bill wouId