Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1878-01-04

The greatest danger to the national credit
at this momen: comes from the West. The
public sentiment which raises the clamor fer
the silver dollar is all Western The great
silver agitators and silver newspapers are
Western.-Spriaqtied Republican.
There is too much truth in this but The
South must take its share of the blame. The
Bland bill was carried in the House by the
solid vote OF eighteen Southern and Western
States, with some votes from other quarters.
men of sound sense and sound principle on
this subject, We copy the following from a
private letter from Western banker, well
known to many of our townsmen, which
will commend itself by the practical and
sensible view of the subject taken by it,
writer, as well as BY his accurate character
ization of the classes which are urging the
silver swindle
In my opinion, the remonetizing of silver,
as contemplated by the Bland bill, would be
a disaster to the business interests of the
country, the extent OF which at present it
Is impossible to realize. The immediate ef-
feet would be to send home from Europe
United States bonds in enormous amounts,
to be sold for what they would bring and re-
turns made in gold That would settle the
resumption question, by making it simply
impossible and if the Government fails in
that, what will be the effect on business in
terests? We are now practically at the
point of resumption, if Congress will only
let US, and the back track taken now will
cost the business interests of the countr
years of time and sums of money that do
not care to contemplate.
These silver men are to be divided into
four classes First, The owners of the sill
yer mines, who, of course, will derive great
benefit directly, and in whose interest this
thing is being put through. Second, Every
bankrupt speculator in the country. as they
hope in the upturnipg that will arise they
may get on their feet again, financially,
somehow. Third, Every man that was a
corperhead during the war, and was then,
and is now, opposed to the Government, and
hopes to see it fail So far as my personal
acquaintance goes, in this section there is no
exception to this every eopperhead during
the war is a rampant silver shrieker now.
Fourth, A lot of politicians who think they
can humbug the honest but Ignorant mass of
the people, and win votes for themselves
thereby.
notice great deal in the Eastern papers
about the unanimity of the West in favor of
this scheme. This is not true, and Il libel on
the solvent business men of the West, who
are not all fools, and who know and feel
what is for their lest interests, if they don't
shout and scream quite so loud as the classes
have named above.
So far as my personal opinion goes,
am opposed to the whole scheme, and
believe in letting silver remain Just
where it is now except that authority should
be given to coin so much of it As is required
to furnish the people with the necessary
amount for small payments. Now. the COIN
age is restricted to the amount of the frac-
tional currency, or $50 900 900. This is not
enough, and as long as people call for it
rOluAtdriiy in exchange for greenbicks, ex-
change it, When there is sufficient for bust
ness uses the demand will cease. My idea
is, to at once suppress all paper currency
under s., and after three years all paper
under so, running the mint on So and
81. 80 gold coin. and then under 50 so use
silver for all payments, leaving it as now
legal tender for S5 only still would not
object to a silver dollar ii any body ranted II,
prorided it was not made legal tender for
over SlO in any one payment, and its coin
age limited.
1t is Il cumbersome and awkward coin and
would be found very inconyenient in actual
use, and the people would soon tire of it
unless they are compelled to accept it by its
being made legal tender