Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-01-16
The Prospect 81. the steer BIZ.

A Washington correspondent says: From
careful inquiry of persons who are very near
the President, it can be- stated that there is
no authority for the assertion that the Presi-
dent will sign the Bland bill if it passes.
The National Republican, in this city, and
other eastern newspapers, have asserted with
positiveness within day OF two that the
President would not veto the bill, but from
statements made to-day, which must be CON
sidered as authorized, it is safe to say that
the President will sign no bill which author
ICES the payment of the public debt in silver.
The President himself says nothing on
the subject of approving OF disap-
proving the bill, but his views are
well known to his Cabinet officers.
and some of them declare, absolutely,
that the Bland bill cannot become law ex-
cept over veto. Two of the Cabinet officers
have said that they were very certain that the
Bland bill could not pass over a veto, especi-
ally if the veto message should indicate the
character of the bill which the President
would be willing to sign. The President is
understood to desire to have q silver bill
passed with the limited legal tender quality,
and to be of the opinion that silver may be
theory of the Bland bill is known absolutely
the obligations of the United States and
affect the national credit.
Senator Jones of Nevada, i'll the course of
a general interview upon the silver question,
makes these Statements Industry, bust
ness, and prices have been so de-
pressed by the pressure of an expand
ing population against a shrinkage of vol
ume of money, that it must be a long time,
if over, before the reconciliation of silver
with unrestricted coinage could do anything
more or further than avert the decline. 1t
would be q great point gained if it could be
made to serve as breakwater against the
tidal wave Of bankruptcy that is now sweep.
ing over the country. There is not enough
silver in sight to cause any appreciable
advance in prices. There may, however, be
enough if the coinage were left free to rem
der real estate actually saleable at the prices
at which it is now nominally rated. Silver
is not produced in q sufficient quantity, and
nowhere exists in sufficient quantity be-
You'd current consumption in the arts and
the supply needed for Asia, to be thrown or
our markets in sums large enough to threat
en- injury to our finance, industry or com
merce. During 1877, India. Japan and China
received from San Francisco, Southamp
ton, Marseilles, and Venice, in the course O
trade, $1O5OOO,O0O of the Latin Union
Even in the improbable event of demoneti
zation of silver by the Latin Union, which il
any case would come TO us slowly, giving u
a number of years in which to absorb it, tn
magnitude of that stock ought not to be sui
fcient to alarm us. The flood of real none,
which could within reasonable time come t,
us from these sources would be q healin,
and not destructive one.
The length of the debate will depend OF
the gold men. The silver men have sub
stantially presented their case, and are read
for vote. The facts and arguments pre-
sented by them SO far have been general
met with general and loosejointed state
ments, or with epithets and vituperatior
They quietly await the time when it sha
: suit the pleasure Of the advocates of the gol
standard to address themselves to the merit
of the case.