The Portland daily press., 1878-02-08
Mr.. Blaine and the Silver Bill.

In another column is given In full Mr..
Blaine's speech delivered In the Senate yes
terday on the silver bill and to the substitute
therefor which he offered few days since.
Heretofore it has been believed that no New
England Senator favored the restoration
OF the double standard of value. We are
forced to the conclusion that in this matter
Senator Blaine does not represent the opn-
ions of his constituents, or at least of the Re-
publican party in Maine. There is no doubt
that the party in its latest State convention
intended to commit itself to the single gold
standard, and 1t did not dream that other in
depreciation than "gold" would be given to
its use Of the word "coin." While admitting
that there are honest as well as grave differ
ences of opinion in regard to the adoption Of
the single or double standard it holds TO the
gold standard as in every way the best for
this country. 1t does not question the right
OF Its Senators to hold different opinion
the independence Of the expressed will OF the
Legislature which 1t admires In Mr.. Lamar 1t
cannot consistently blame In Mr. Blaine; but
1t will insist that his views are not the views
of the people of Maine. While doing this it
acknowledges that the question of the stand
ards Is one of expedieDcy, and that the dou-
BILE standard may be adopted without dis
honor A silver dollar intrinsically as valua-
BILE as gold dollar is as far from the dollar of
the Bland bill as honesty is from dishonesty.
The objection is that such dollar cannot,
considering the fluctuating value of silver, be
coined and kept in circulation. Its adoption
would be grave economic error.
1t is not our intention here to discuss the
relative merits of the two monetary systems.
Eminent monetary authorities disagree on
that question, though the preponderance both
In numbers and In ability is in favor OF the
gold standard. Nor is 1t necessary to discuss
Mr.. Blaine's bill. He himself recognizes the
impossibility Of its adoption or even OF its
serious consideration. We do not regard 1t as
a practical measure. 1t may be remarked
that the Iemonetizatlon of silver by the great
mercantile nations of the world is quite an
other affair from the adoption of the double
standard by this country alone. The expert
ment by US alone at best 10 hazardous one,
and the consequent rise in the value of silver,
30 confidently predicted, is dependent upon
series OF us ORIGINATING m sanguine nope
rather than in experience or reason.
MIR. Blaine's bill and bis advocacy Of the
double standard may then be dismissed as hav-
ing no practical bearing upon the subject now
under consideration by Congress, the Bland
bill. When however he comes to speak OF
that bill itself his words set forth the opinions
of bis State and leave nothing to be desired in
the way of explicitness or force. He con-
demns the provisions Of that bill as providing
for the coinage Of an Inferior dollar which
will defraud the working man and the public
creditor alike, as opening gate through
which what gold we have will speedily leave
the country, as In effect declaring that the
national promise to pay dollar shall hereaf-
ter be worth but ninety-two cents. In his
condemnation Of the dishonest dollar Of the
Bland bill the people Of Maine are heartily
with him.