, 1879-06-09
THE SILVER BILL IN THE SENATE.

virtual consideration Of the WAnHza
Silver bill, already passed by tho House,
comes up in the Senate to-day on motion
Of Senator CoKE that tho Finance Commit.
toe be discharged from further confederation
thereof, and that the bill DO brought ut
once for action. This motion was called
out by tho decision Of tho Financo Commit.
too Inst Friday to postpone action on the
hill till the regular session next December.
Tho vote by which this decision was soourod
was DArAnp, HERMAN, ALLISON, and FEnnr
in favor Of 1t, and VOORHEES,, BEcK, and
JoaEs against It; Senators Alonnu1 and
WALLACE woro paircd, tho latter being ab-
scnt. Two Domocrats and two Republicans
Oh tho Committee wore opposed to the
rrcHens consideration Of tho bin, and two
Democeats aud ono Republican In favor Of
It, Tho Senate can gain control Of 1t now II
it 500 tit to do so, and, It 1t fail to exercise
this power, tho blame will bo upon tho Dem
ocrats, who ara in cloar majority, md uho
| will thus demonstrate tho insincority OF
their pfetendod devotion to tho CAUSE Of
silver reconciliation.
It Inns bean predctod oil Along that the
fnto OF the bill In tho senate Committee
would turn upon the vote Of Senator FEang,
Of Michigan, aud such proved to be tho case.
1Is. FEnaY, though lo has always professod
| to bo On tho popular side Of the money quoa-
| ton, voted to shelvo tho bill. 10 undertook
to explain to Washington correspondent of
a Western paper how ho camo to favor this
cousae. Ha is reported M saying that ho is
in favor of unlimited coinage, but thinks the
WARNER bill bid one: This is simply
ridiculous, for oil tho WARMER bill! provides
for is unlimited coinngo Of the standard dol
lar, to tho extent that tho people may do
1uand it md the mints may bo ablo to
respond to auoh demand, mud for tho issuing
Of silver certificates in tho sa1ne manner on
gold certificates are issued, to supply tho
popular domand for Government safo.
keeping of coin and bullion. nrr.
FxunY n1so undertook to giro somo
reasons for thinking tho WARNER bill baa
ono, md he was either inaccurasely reported
or his so-callod REASONS arc merely the roilex
OF the money grabbing Influences that hnve
been employed to kill this NJ we'll as every
other bill looking to tho practical romoneti-
cation Of silver.
B1r. FEnnY is reporIel rs saying, for in
stance, Tint THE had activo|y adyocnted ro-
nlonetization OF silver md waa 10 favor Of
FREQ coinage, but ho did not believe In placing
tue Goyernment aud tho public a. tho moroy
Of Wall street and California speculators Ia
| hxiug the ratoa Of yalua for bulIion." The
tntin.ation TINT the WARNER bill tloe9 ANY,
thing Of thts kind liz totally unwarrantot
Tho bill provides that the charge for coinage
ahall ba tho difference between the legal
tonder value and the bullion value IN Nav
York, which gives tho Government tho
profit OH the coinage Just as It Inns now.
Tho bullion value of silyer In Now York
vii! 10 governed by tho London quotations,
since London II the elaarkot which supplies tho
svar-using countries with their bullion. It
IL not oasy to soe how Wall street spectators
arc to got up corner on silver, whereby
alone ttey could fix tho fntoa Of value for
bullion, SO long as there IL danger $50 We arc
told by ali tho oppouonts OF nnlmltel colu.
a9o) that tho country will bo flooded with
silver to the exclusion OF all othor kinds Of
usonoy. The two statements clash. The
fact Is that no fairor plan can DO agrcod
upou, for the prosent. than that OF unlimited
coinage with Charge therefor equal to tho
discount on silver bullion.
Another objection Of A1r. Tgaaza to the
WAnsRR bill is Expressed In tho statement
that "he favored the issue Of silver oertia-
cotos 1t basod sololy upon the products Of
OLE own land, but was opposed to the food