National Republican. (Washington City (D.C.)) 1872-1888, 1878-02-21

Mr.. WEED publishes another letter on the
silver question, In which he says:
The debate on the BLAND bill in the Senate
Is drawing to close So far the extreme
gold advocates have shown no disposition to
make 1t what it ought to be. They are obsti
nately and uncOmprOmisingly hostile to silver
as money. 1t has been in their power from
the beginning to make silver dollar worth
just as much as a gold dollar, thus creating a
specie basis broad enough to effect resumption
and restore prosperity. Should these beneficial
objects be ultimately defeated. the gold advo-
Gates will become directly responsible for a
great public calamity. That responsibility
will be aggravated by the fact that the wrong
was perpctrnted after free discussion and am
pie time for deliberation. My hope Is that the
President, should the bill reach him in an OBJ
jectionablo form, will, imbued with wisdom
and inspired by patriotism, return it with a
message calculated to compose and adjust hon.
est differences OF opinion, resulting finally in
the passage Of law placing the country in re-
latiOn to the standards of value where 1t stood
before Congress deprived us of an element OF
wealth and prosperity for which we were in
dcbted in an emergency to kind Provi-
dcnce
My principal object to-day, and In this let
ter, is to submit to the readers Of the Tribune
the views OF the oldest, and consequently the
most experienced banker In our State. The
venerable THOMAS W. OLCOrT, President ofthe
Mechanics and Farmers Bank of Albany has
made the subject of finance study for more
| than sixty years. He has even been an out
| spoken hard-mOney man. During the more
| than haf-century he has been the fiscal Off
Ger Of his bank, the interests Of its stOckhOld-
ers have been literally rewarded by the judic.
| iOus and discriminating use OF their capital In
developing the resources aud stimulating the
| industries Of the community. Mr.. OLCOTT,
| though more thun eighty years oil age, in the
enjoyment Of good health, is to be found as
usual during bank hours, in his accustomed
| seat, taking lively interest in all that con,
| Germs not only his bank, his family, and
| friends, but whatever relates TO the welfare oi
| his country.
| The Congressional Silver Commission while
in this city addressed intcrrogatores to prom.
| inent bankers. In Mr. OLCOrT's reply, the in.
terrogatorieS arc not given, but their nature
| will be understood from Mr.. OLCOTT's response
| | am indebted to Mr. Weston, secretary of the
| Silver Commission, for the following copy Of
| Mr.. OlCOtt's letter:
ALBANY, n. Y, oct. 25 1876.
| The Hon. John j. Jones
DEAR SIR: Being unable to attend in person IN
Response to your polite invitation, allow me TO give
| II written reply to your intcrrOgatOrlcs
| No. |, reside In Albany, n. Y, and have beer
| an officer Of this bank sinCe 1911 am now And
| have been It's president for forty Year,.
| No. 2. Some Of the causes may be found In the
| Decentralization Of silver in Germany in the un
| usual large substitution OF government bills IN
| India In the place Of remlttances In silver from
London; in specuistions In silver tending, IL mo-
designed, ~ reduce is price ana In hs increased
production Of silver In the country
| No. 3. Most Of the causes are probably tempo
| rITy.