The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1878-03-30
Our Washington Letter,

Tomb and Ttmple-A Lively Debate in
Tie Seaate--The Sirer Certificates.
WASHINGTON, D. c., March 90, 1879.
The enemies Of the Silver Act, by which
the double standard of gold and silver was
re-established, are disposed to assail secre-
tary Sherman for frankly admitting that he
was mistaken in his prcconceived opinion
in regard to the effect Of that measure.
Like all those who opposed reconciliation,
he thought that its eject would be to en-
hancc the premium ON gold, to depreciate
the value Of the government bonds, and to
render more difficult the resumption Of
specie payments. lie now simply Gonlesses
that he was in error, and, Tor his candor in
owning the fact, he is assailed as fchlc in
purpose or false TO his friends. In other
words, he is blamed for refusing to shut his
eyes to palpablc facts.
In his "interyicw" with the Senate
Finance Committee on Tuesday, Sherman
gave it as his opinion that "the Silver Bill
has had some adverse effects, and it has had
some favorable effects on the question of re-
sumption" 1t has stopped the sale of per
cent. bonds, and it has stopped the accumu-
lation Of gold in the treasury. Another bad
effect has been to cause the return of United
States bonds from Europe. lie states, how
ever, that the bonds have been returning
for year past, but that they have come
back more rapidly since the Silver Bill
passed the House in December last. This
effect is partly due, as we suspect to the
! vast balance OF trade in favor Of this coun-
try, which must Ge paid for in money or
bonds. Importers Of American produce
would avail themselves Of every favorable
phase of the markets to buy the bonds, and
send them to this country The outgoing
gold to pay interest has not been equal 10
| the excess Of our exports over imports.
The beneficial effects of the Silver Act are
| stated by Mr.. Sherman to be the following:
In the first place the Silver Bill satisfied
strong public demand for bi-metallic money,
and that demand is, no doubt, largely see
| tional. No doubt there is a difference of
| opinion between the West and South and
the Eas. on this subject, but the desire for
| reconciliation was almost universal. In
| government like ours it is always good to
! obey the popular current, and that has been
| done, think, by the passage of the Silver
| Bill. Resumption can be maintained more
easily upon a double standard than upon
| single standard. The bulky character Of
| silver would prevent payments in it; while
| gold, being moro portable, would be more
freely demanded, and l think resumption
can be maintained with less amount Of sill
Yer than Of gold alone"
| Yesterday a subcommittee Of the House
| Committee on Banking and Currency called
J at the Treasury Department and inter
| viewed Comptroller Knox, Treasurer Giltii-
lian, and Secretary Sherman upon the
amount Of standard and subsidiary coinage
in the treasury, the sub-treasuries, and in
all the banking institutions throughout the
country, with view OF ascertainmg the eX
act condition of the treasury and the banks,
and their ability as regards the amount of
coin on hand, TO commence resumption,
have as regards the national banks, con
corning which they had not the data need
cd, the treasury officials were unable TO al
ford the desired information. The House
Committee on Banking and Currency does
not Dclieve that the secretary of the trea-
sGry will actually have the amount Of coin
which he claims on hand when the deduc-
tons for the sinking fund and payments for
interest on the national debt have been
made. The committee will cndeavor to OBJ
tain the Information which they seek bv
sending out letters and circulars, and Ly
calling for bank statements.
The Masonic celebration at the Foundry
Church last night was grand and imprc5-
siye in the extreme, the occasion being q
| special meeting Of NIiLhras Lodge of Perlec-
ton No. ?, 4. Il. S. T., for the purpose Of
holding lodge ot sorrow in memory of
John Adams Stewart sixteenth degree, and
John Barrett Wadsworth, thirty de-
gree, who died within the last year The
} handsome auditorium was crowded by q
large and fashionable audience, who ap-
+ peared strangely and deeply impressed by
the awesome and solemn character of the
mystic ceremonies. The myriad of twink
ling lights III the branches clustered round
the columns shed a aim and chastencd light
upon the silent throng; while behind the
altar rail sat several of the highest digni-
taries Of the great Masonic order, decorated
; with their magnificent and glitteying rega.
liza. Prominent amung these, with his ven
cradle white hair and handsome face, sal
Albert Pike. the presiding dignitary,
= bert Pike, tine statesman, soldier, poet, and
f jur!st. The altar rails We're hidden by q
forest of green leaves and by the choices
Iowcrsj while round handsome, blacl;
yelyet-coyercd caskct, richly decked witt
+ silver mountings, burned the mystic taper.
. | Of the mournlul ceremonial. Upon the
, wall behind hung the three white banner
OF the departed knights, the name beinl
embroidered upon each. Midway up tht
= aisle, against two Of the pillars, sat en-
/, throncd above the audience, one unon tn,
: right hand and the other ON the left, th
Senior Warden, William r. Singleton, an,
; 5. I. Schoheld, the Junior Warden. Tn
solemn services were read the ritual an,
responses being rccited and made b,
: the presiding officer, the wardons, and IL
! other Masons present, in the most impress
= I've manner. When the so.clIn yaledictory
: Farewell! Farewell! Farewell !" was re
= peated, the twenty-seyen brethren standm
!, IN front Of the altar rail in full rcgllia
. with meelly bended heads, crossed thei
whitc-gloyed hands upon their hearts il
! reverent sorrow, and then raised them al! I
r. Heaven in mute appeal, as if moved b
- one hidden impulse. Wheeling simultant
y. ously round, these marshalied mournci
;, marched half round the auditorium thre
l.; times, as the solemn farewell invocation wa
. repeated. The ceremonies concluded wit
4 eloquent and affecting culogics Of the dc
J. ceased. That upon Sir Knight Granthar
- Moody Smith was delivered with gres
> power and pathos by Gen. Albert like
- while those upon John =. Wadsworth am
~ John Adams Stewart were made bv tb
Rey. William Morton Ireland.
:" Thursday afternoon was field dav /
the Senate, which witnessed the bittcre.