Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1878-02-20
MONTPELIER.N V.
The Long Talk Ended.

The Long Talk Ended.
At five o'clock Saturday morning, after
long night session the Senate passed the
silver bill by vote of 48 to 81. The bill
has gone back to the House where it will
probably pass in its present shape though
Ewing and others are displeascd with the
changes made by the Senate.
These changes consist principally in
limiting the amount of silver to be coined
and in giving the government the profit on
the bullion to be made into money. There
is also provision for IN international con.
ference TO adopt common ratio between
gold and silver.
The amount to be coined monthly undel
the bill as il stands is from two to foul
millions dollars worth of bullion. This
would make m increase Of from twenty.
four to forty-eight millions of dollars in
the course of a year.
There is not likely to be n great amount
of debate in the house, and in that body
the previous question is available, so that
the almost interminable talk INDUCED in
in the senate cannot be INDUCED in by the
representatives. They can, however, rival
the grave and reverend senators in one
thing, though they may not surpass them
that is in getting drunk when the vote is
taken. Friday night Senator Eaton Of
Connecticut is said to have been too drunk
to vote; so this great opponent of "bad
faith" a "depreciated currency" and the
"pickpocket bill failed to do anything
except make n speech against silver
That he did in the day time Senator
Thurman of Ohio is also reported to
have INDUCED in too much fire water, but
he was able to record vote in favor Of
silver. Other senators We're in bad con.
dition, but unlike Eaton were not wholly
overcome.
The bill as it passed the senate may
have some effect in disturbing values but
how much is entirely coniectural, and as
for its being the bad faith and thievery
that many of It's opponents claim it is not
Senator Window of Minnesota hit the mai
on the head when he said that the bill
would not do what its friends hoped OF
what its enemies feared
1t simply proposes to resume the coinage
in limited amount Of the silver dollar. The
old silver dollar has never ceased to be
legal tender. If anybody has ten thousand
of the old dollars they are to-day lega
tender for that amount and always have
been. The act Of 1873 stopped the coinage
of more Of them, the present act proposes
to resume that coinage.
If the House concludes to pass the bill
in its present shape, as we hope it will
for the mono-metallic gold advocates will
only 90 farther and fare worse if the bill
in its present form fails to passive shall
soon see the extent of damage which the
country will receive from the great bug
bear of the last three or four months.
Those who have denounced the recon.
ing of the silver dollar as an act of virtual
reputation have claimed that gold would
rise and our bonds fall in the market
Gold is lower by one half of one per cent
than it was last week; and the effect on
the bonds may be found in the following
extract from the London Times of yester-
day:
Omitted States funds have surprised
many people by advancing, instead of fall
ing, on the news that the Silver bill has
passed. We always said that the public
was not selling stock to any apprcciablt
extent, and that the weakness which now
and then characterized the bonds was due
as much as anything to the passing fear;
of dealers and to speculative selling, which
only made the market harder Hence, or
receipt of better New York prices and be
cause the worst is now known, the marke
actually rose by the mere efforts of those
who had sold to buy back. Besides, it ha;
been noticed that the limitation put upor
the quantity of silver that may be coinct
within given time is itself tantamount tC
making silver subsidiary coinage, at al
events, for some considerable time, so tina
there is little alarm felt and holders sticl
to their bonds. This does not alter tn,
fact that political factions in America hay,
been playing fast and loose with nationa
credit or that the passing of this bill is
distinct breach of faith in intention. w
only seek to account for the attitude of tn
market. The only thing that will lowe
the prices Of these or any other high elias
stock, just now, is dearer money"