New-York tribune., 1878-02-18
EVILS OF RECONCILIATION.
WHAT BANNERS, IMPORTERS AND EXPORTERS THINE
nr Tile srNAIE'S NOTION.

WHAT BANKERS, IMPORTERS AND FNPOElERj THINK
or THE sTSATEs ACTION.
The passage of the Bland Silver Bill, in its
modified form by the United States Senate. Saturday
morning the subject Of general discussion among
bankers and brokers Saturday leading wallst. banker
said that the bill passed by the Senate was very df
frent from the wanted by the radical advO
Gates Of silver Nevertheless. as IL contemplated pay
Ing the United States bonds IN deprecated currency
IFS ual passage could not fail % produce very serious
results President Hayes was not an Andrew Jackson
and there danger that when he saw the bill ndOrsed
by large majority Of the representatives OF the people
and OF the States he might say 10 himself: " What
right have pose the will Of the country thus
pressfd I" There was danger that he might finally de-
eide 10 approve the D agreed Ia by both branches OF
Congress III Its present modified form On the other
hand there had been evidence during the past two
weeks that the business men and the newspapers had
begun 10 realize fully that there was really great
peril OF the bill becoming law, and. consequently, that
greater effort would he made To def a H. Nearly every
one opposed 10 the bill mad been hoping previously MI
cawberke that something would turn up by which the
bill would fail to become law, and this apathy he
thought had had much TO do with the number OF
votes given IN favor OF the bin Saturday morning
II all who realized the very serious effects that the re-
manetizatop of silver must have upon the finances OF
the United States had used every available means 10
defeat the passage OF the b many OF the Lawmakers
at Washington would have different idea OF the mat
from that indicated by the recent speeches III the
senate and the House Of Representatives.
PRESIDENT BUELLs OPINION.
President Buell. OF the importers and Traders Bank
said that il the Silver Bill became law, the banks
would adopt three standards OF value In the making or
contracts gold, greenbacks, and silver. At present
there were two standards AM not specified whatever
they were ~ Dc paid ill., gold or currency.
b. q. ARNOLD'S VIEW.
i. G.. Arnold, the wellknOwn importer regarded the
Silver B terrible blow at the import trade, and he
bacn Ia
ients veto. lie added All our purchases OF tea and
coffee are made In gold and in order to meet the posi-
bity three cureuces, making no sales except
On Il gold basis Gold VIII advance In value as silver
becomes plentiful, and m rchant' VIII be greatly Injured
EFFECTS on TRUST INSTITUTIONS.
An officer OF leading trust company seeking safe IN
yestmcnt for some the funds deposited in his company
in trust widows and orphans sad that ne purchased
gold and paid II 10 the Government for Its bonds, and TO
rcuny Interest ana principal now in silver, rs the bhd
bill proposed doing. downright dishonesty Mer-
chants and financial institutions should 1Isah.te 10 on
set the evil eff, OF their proposed leglatioh ana
make gold the basis of all future Transactions
INFLUENCE ON GRAIN AND PROVISIONS
T. H. Liycrmore, a principal grain dealer on
Broad-L, said that ho hoped that the Bland SILVER BILL
even in its present shape would not become law, IA
prices would nucuate as the value OF silver became
greater or less, ana consequently the grain market
would become unstable. Savings banks would sGAer,
Government bonds would 0ow back 10 this country hOd
would flow out, and II bonds were returned Iast.I ' "A
they could he redeemed money Woulu Dccoho uSh' anu
securities 20 down.
A. l.. Kent. n prominent provision dealer, said that
the market here ruled by the English MARKET
and II silver became egaLtender. though really OF
less value than gold greenbacks provisions "ouiu
advance price, the market would follow every hc
tuation In the price Of gold Contracts Wouu ps nac
on the gold bas, rather than currency Tor IL msue
in the latter baDis ~anid buy silver at iA-. 'a Aa