The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1878-03-15
a Correct View OF 1@e Senate
SILVER BtEz


SILVER BGEzs
If any one who honestly fsvors
the reconciliation of silver has any
respect for the present silyer bill,
or thinks that it is anything but a
real victory for the gold men, the
following article from the Gincinna-
ii Gazette of the 18th ulf. may pos
sibly open his eyes. The Gazette lie
q thorough gold, and anti-ssiver pa
per, and frankly explain by the
silver bill as It was amended b the
Senate, and agreed to by the House,
is really no SILVER bill at all, but q
victory for the gold men, with the
addition that by becoming q law
it will quiet popular agitation while
really afFording no financial relief.
Had it failed to become q Law, the peo-
pie might then in the next Congress
secure the passage of 9 genuine sii-
YER bill, and possibly of . green
back policy; but its becoming law
| makes it but an empty triumph for
them, while at the same time osten-
sibly satisfying their demands to an
extent that will prevent them from
making common cause together for
real relief, and it is in this way the
worst kind of a swindle that could
be imposed:
TO VETO OR NOT TO VETO.
kilograms were sent from this
| CITY Yesterday to the President, by
bankers and merchants who were
| opposed to the whole silver agita-
| ton and to the silver standard, ask
ing him to sign the silver bill. The
reasons for this we stated in part
yesterday, in giving our views to
the same end. The main one is that
the chief promoters of the silver
bill are really for greenbacks to pay
the bonds, and that, if the Presi-
dent shall veto this bill, they may
get such lift by the agitation as to
carry through their real project &c
make our own notes without inter.
est good pay for our interest bear
unlimited lot of notes upon this
pretext.
Therefore they think that the
making of this bill a law will head
off vastly worse scheme. Second
q veto would renew for an indefi-
mite time the agitation of money
schemes whicE is costing the coun.
try so dearly. They ask the Presi
dent TO sign this bill to give the
country an interval of rest. Third
this bill will not practically pay Ell
Their bonds or interest in a cheaper
money than gold for q long time &c
come, and may not at any time. By
the limit of the coinage, it will be q
long time before more silver dollars
can be coined than will circulate al
par with gold, just IS our halt dol.
lars and quarters did before the
greenback time, though they were
three or four per cent. less in value
than gold, and though of limited le-
gal tender. Thus the gold standard
will be maintained practically fol
an indefinite time.
We can not tell how many silver
dollars can be carried in the same
way, at par with gold in actual
transactions. 1t may be that the
coinage of two or three years would
not affect it. And, meantime, silver
may rise to SO pence in London
which would lift the silver dollar to
par with gold, and settle the whole
question. Silver advanced last week
} TO 5418 pence. In 1872 the averae
price for the year was about 601z
In eighteen sevent-six it was 4624
but the average price was 523z. Il
is not at all improbable that the
price will rise again so that the old
silver dollar will cost gold dollar
In that case all the talk of repndia.
ton would vanish. Beside there ii
the possibility that if it should bt
found that silver dollars had open
ed gap between silver and gold
the coming of silver would then bG
restricted.
Such are the reasons which have
moved some who opposed the oliver
bill ss q disturbance which had NJ
/ possibility of good, and which had
bad faith on its face, to ask the Pres.
ident to sign the bill. Such is our
view. Added to these is the reason
that q veto would be in vain, and
would put q club into the hands OF
the Presidents enemies. As to 9th.
er measures for fully bringing in
the silver standard. such as free
coinage and the issuing of silver
certificates upon bullion deposited
they can be brought forward in an
other bill. The effect of the silver
bill. as it now stands, has been wild
ly exaggerated by the New York
daily papers-never very strong in
money questions. The ruin which
they talk of from this bill is moon.
shine. And it May not result in the
payment to any bondbolder of 3
single dollar any cheaper than the
dollar of gold.