New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-03
WILD WESTERN DELVsION.

Try rNANswERABl PROOF.
10y TELEGRAPH TO THE TRIBUNE.l
u,sur1croN Jan, 2-The assertion that INC
o.,arn Act of1s73 was secretly passed by Congress
or1 HAT no one knew what its effect wonid pe al
a. time il became n law would not be worthy OF
shor notice except for the TACT that the advocates
- the Blasi Silver Bill continue to repeat it, They
Io,o spcceeled in gaining some sympathy for thelr
60 NV their constant IcitcratlOn OF thlS
oS,.ov,,o6ed story Mr. Thurlow Weed IN
~ Letter TO TIE TRIBUNE is the only
rromincnt advocate of the RECONCILIATION
Of the silver dollar who has had the naniine3s 10
oclnovledee that he was mistaken, and 10 adihlt
what all of them must bv this time know 10 DE tIu''
" ,hat tbere WAS nothing secret mysterious about
o coinare LEGISLATION Of 1873 y that the subject
,ros discussed as much as many other equally I'M
nortaut measures were; tina! the judgment OF hleh
ve Informed in coinage matters was geheFaily III
vited and that if members OF Congress dld not
trov what the effect of the bill was it was their
own fault.
Mr.. Uslstead, of The Cincinnati Commercial, pub
rshed n letter in TIE Ncr-lOrk Nation OF the Z'h
Of December, 1877, in which he says; / have al
vcrtised IN vain for a member OF Congress WHO can
cav that he voted for the characterization of silver,
knowing when he cast his vote what it meant. L
have appealcd to the press for an editorial article
,,,bl;abed in the wear 1878 or 1874 for or against
the change from the double 20 the single standard
and the conclusion is that no such article appeared
in any American newspaper"
Now it Is not of so much importance what men,
hers of Congress may say or decline to say at the
presen time when the large decline in the vaine OF
silver has taken place. as what they said when the
Coinage Act of 1873 was under discussion. III Is
shown by the records Of Congress that at least I'VE
members Of the House Of Representatives knew that
the Coinage Act of 1878 proposed to discontinue the
coinage of the silver dollars. Their names ana their
very words at the time of IFS passage are gwen mere
with.
The Hon. VIM y. Kelley. Of Philadelphia, declared
II is impossible retain the double Standard TIE
vo,ues Of gold and silver constantly fuctuae. Yon
not determine this year what will be The relative values
Of colf and silver next year. They were 10 u hoit
limo ago They are 10 to Hence atl experience
hos shown thai You must have one stanGaid CON "el
sbsr be cealtonder for 9Il others, and Een yon rGY
nromotc vnur domestic convenience Dy naIIhs " s"o-
sdly COINAGE oi sli'er which shall circulate N an pS
aud he redcemabc at its face value by your Govern
Fnt sir agan call the attention of the House 10 the
fact hat tire Gentlemen who OpPoS' tus M ins'St upon
mantar!ug silver dollar worth JIG cents nole tn";i
he gold dollar and worth cents more than two hair
dollars aud that 50 long az . Sc provisions are al Ioiec
yoI clsnot keep silver coin in THIS country
Tie Hon. Clark5on y. Potter. of Ncw-York, said:
TIL, bill provides for tie many changes in the legal
ieuGe. ooG OF tic county and for the ttulon OF
lcgaiender Of OILY one int lsteau as n'dcoaolc VI
~ t Lone R,,t Tny soud we iegislate on this row
wien We are not usiDZ citLer Of these metals
- circulating meliam IAe pa r.21'ldess
also for change in respect OF lie weight ana ya1e q!
Inc silver Collar, which Think ~ subject, whtu wc
come 10 require legislation Shout II AT all, winch Will ne
nand at our hands vGy serious consideration, and
DOW at this time 70 be an unnect ssaTy sAJect
about which TO iegisiate.
The Hon. Thomas McNealy, of Illinois said
As member Of the Committee On Coinage Weights
and Measures having carefully examined every section
and line OF tits bill ana generally landing me
su1ect before US am satisfied that the Dill ought to
pass
The HON. Samuel Hooper, of Massachusetts,, ex-
planned that:
Section &c reuacs the provisions Of existing laws AID
deuc. tie silver coins and their weights respect vey.
except relation the silver dollar, which Is reduced
IN weight from ll22 TO IS grains illus making i sub
SALARY coin IN harmOhy VIA ile sNei cpus ~ less Dc
nomination to secure rs concurrent circulation with
reason Of It's bullion OF intrinsic yane be-
ing greater than rs nominal value, long
manufacturers ~ siyerware Il does not circulate
m commercial Transactions with any country and the
convenience Of the manufacturers in this respect
better Do met by supplying small stamped bars 81 the
standard, avoiding tie useless expense OF cOiniHg
tie dollar Tor that purpose.
Tie Hon. William /. Stoughton, Of Michigan,
said:
Tic silver cOirs provided for are the dollar OF 3s4
tla.ns Troy The hafdosr, qdrttT-OilaT and dine,
tenth OF the dollar respectively, and taey made
legdteuder for all sums not exceeding 20 at any
bullion three and onefourh cents snore than the god
dollar and seven and OIc-ioulth teDts than Two
value. II IS certain 10 be Withdrawn circulation
whenever we return 10 specie payments, and 10 be used
only for manufacture aud expectation as bullion.
II other members Of Congress did not know what
the bill meant the advocates of The measure are not
TO blame. The Hon. James Pollock, then Director
Of the Mint two ex-Drectors Of the Mint the SUI
perntendent Of the Mint in San Francisco tic Su
perntendent Of tie New York Assay Office, Mr.. L.
b. Elliott, Mr.. Robert Patterson, OF PHILADELPHIA
now in favor Of the silver dollar, ami many others
discussed the proposition 10 discontinue the silver
dollar in a report transmitted TO Congress b. tie
Secretary Of the Treasury. June %, 1870.
But the advocates OF the silver dollar, Mr.. Hal
stead among them, say that newspapers in 1894
did not contain articles upon this subject. This is
also untrue. The newspapers of the country were
informed through the Associated Press Of the pro-
posed revision OF the coinage laws and the discOn-
unuance of the coinage Of the silver dollar ANY
one will find this by examining tie files Of the Jour
nails of that period.
Jhe Banke's Magazine of New York, which is more
universally read by financial men than any other
periodical of its class of the country, publishes the
inll report of the Deputy Controller Of the Cur.
rehey of April rs, 1870, in its number for July.
1870, IN which it is twice mentioned that
TIE bill proposed TO discontinue the silver
ooar; and the editor OF the magazine
informed its readers that "cones of tbe
Entire report with tabular returns wonld he
supplied to subscribers to The BANKERS Maqasine
Without charge" The same magazine again in
FEBRUARY, 1871, printed extended extracts from the
report OF the Deputy Controller Of the Currency of
'une 20, 1870, containing his correspondence with
"'esi gentlemen. in which 1t is again twice men.
.oneu '"a' the coinage of the silver dollar was 10
'e a'sconsinued by the proposed bin.
Nor is this ALI ~ f,,,