, 1879-05-27

FREE SILVER COINAGE.
Tho Silver bill, which pnsscd tue House on
Saturday, n,nands those sections of tho
Revised Statutes which relate to the coins Of
the United States, md restores then nearly
10 what the Inv was before the net Of 1873
dcmonolizing silver. While 1t loaycs tho
gold dollar unit, it rostorcB tho silver lo1lnr
as uuit. It was intended 10 establish frco
coinage Of silver dollars. hut this was some
what qualified in tho bill as It pnssod. It ia
provided in this bill that any person may de-
posit silver bullion at tho mint md l,ayo the
sa1no coinod into silver dollars, but tho mint
charges for converting tue bullion ,nto
coin sI!al ho The difference betwee,
tho market vnlue Of tho bullion aud tho
1cgal-tender valuu Of the coin. Thu
bill further provides Tint tho Treasury
Of the United S!atcs shall receive on deposlt
gold or silver coin or bullion in an,ns not
leBs Than SEQ, and 10 isauo certificates there
for in tlononlinatians not less Than So; tile
coin on bullion deposited 10 romnin In tho
Treasury for tho redemption Of tho ccrtifi.
oatoa on demand tue certificates represent
ing coin sl,oll bo received ut par for all dues
to Tho United States. When certificates ase
paid into tho Treasury, tho coin on tloposit
for lis redemption shall than bo used as
other money. Tho coinage Of 1000, 600 Of
silver dollars per montl. by tho Treasury to
continue, rs now, whonoycr tho bullion IL
not deposited for .coinago under this bill.
This is tho substance Of tho bill passed.
T11E TR1nuNE has a1rondy pointed out tho
isnprobabili!y that this bill will bocomo
Law. It will have to pass tlle sonato, whiuh
ia understood to ho hostile to it; aud, aver, il
1t could command a majority of TINT body
at tl,ia session, tho well-known opposition OF
tho President rrocludoa the possibility Of
such bill becoming law. THE TRIBUNE
flas further suggested tl,at the passage Of tho
low ut this time il not urgent. Tho cause OF
Bilvor in doing admirably. Tho attontion Of
mankind has been directed 10 the tlisastroun
consequences OF Attempting to denlonetizo
1t, and strong effort ia now making to lave
Its Sa!no permanently fixed by international
agreement. While Ineaaures To that oud arc
pending, wo hnve thought further legislation
on tho subject might DO postponed until at
A%e0s 1NAst "AkAhEA} "AAE4 AAAGE u kuuQEIl 1I}-
tcrnationa1 regulation Of tho rc1atiyo valuos
Of gold ind silver Congress could act moro
intel1Igautly.
The bill, except for tho raasons glvon, il
not objectionable. Much Of tho old md
throadharo logic expended TO prevent any re-
1houatizaslon Of sllyor has been employed 10
dofant this bill. Tho bngbcar las boon raised
TINT tho coinage Of silver dollarB would bs Of
immense profit to tho owners Of bullion, and
that tho United States would bo flooded with
silver from all parts ct tho world to DO coiuol,
tho owners taking away with them au onor.
mons profit. Thia fallacy Inns been utterly
exploded, and the substance, including tho
stupidity, Of tho objection to unrestricted
silver coinage is thus summed up iu Phil
alolphia papor.
'Should sho WAMNHn hsl became 4 Law, the
United States would ndsqss!sc to a foreign uwnurs
Of silver tkat thoy uignt present tl.er metal At to
TrnHShfy In Washington and rccGLyo IL pcf cent
more Tor II than It will bring in any market of thu
world Tic immediate rosult "ould bc that silver
bulilnn would pour Into Mr.. sltznxAx's vaults
!ru,n every quarter. Germany, doubtlcys, jeatlinr
VI with thu seventy. y.ayo millions worth now hali
Tor sale III tat country. These fotelgu purchasers
would. VI course. sell their silver certificates for
cold and take that homo with them, unt tue coinage
u tue country would speedlly 10 RESTRICTED to de-
psccIatcd silver"
Tho American silver dollar Ia now aud has
always been A1.i graina Of silver niuo.
tont1,a firo. Thora nevor las been q law
that tl!is woight Of silver should ooual In
value auy prescribed weight Of wheat, corn,
cotton, gold, copper, loal, or of nnv oth,r